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7495 McLaughlin Rd, Ste. 221,
Falcon, CO 80831

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Author: admin

Boat Insurance: Do You Need it on Private Property?

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Buying a boat is exciting, and you want to protect it. From that perspective, the logical question arises—do I need boat insurance if I only use it on private property near Falcon, CO? 

Our team of insurance experts at Pikes Peak Insurance Agency is here to explain the different types of boat insurance coverage options.

Types of Coverage

Boat insurance has several components, some of which are required by law and others are at your discretion. One type of coverage is boat liability insurance, which covers bodily injury or property damage caused by your vessel. This includes medical payments for injuries sustained on or even near your boat. In most states, liability coverage is mandatory if you take your boat out in public waters.

Another type of boat insurance is collision coverage, which pays for damage done to your own vessel due to an accident with another boat or object. Collision coverage is usually optional but provides the most comprehensive protection against expensive repair bills. If you choose collision coverage, keep in mind that a deductible may be associated with filing a claim.

Finally, comprehensive coverage pays for non-collision-related incidents such as theft or vandalism of your boat and its equipment. Comprehensive coverage also pays for damages caused by natural disasters such as hurricanes and floods. Comprehensive coverage often comes with a higher premium than other types of boat insurance but can help protect you from unexpected losses in the event of unforeseen circumstances.

Give Us A Call

If you plan to use your boat exclusively on private property around Falcon, CO you may not need full-coverage boat insurance, but we highly recommend it. Contact Pikes Peak Insurance Agency to find the right policy for your needs.

Do You Need Personal or Commercial Umbrella Insurance?

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Pikes Peak Insurance Agency offers umbrella insurance in both commercial and personal variations, but which do you need? The answer depends on your situation, and you might need both. Our team of insurance experts at  Pikes Peak Insurance Agency can help you evaluate your needs and match you with the right coverage. 

Umbrella Insurance: Personal or Commercial?

Personal Umbrella Insurance in a Nutshell

Your Falcon, CO home receives protection from your home insurance policy, but it mostly covers belongings and the home’s structure. A tiny bit of liability coverage in the home policy typically affords you about 10 to 20 percent of the home’s value in liability coverage. The cost of a settlement from liability incurred due to an accident at your home can cost you much more than that.

Umbrella insurance, a secondary policy type, provides the added coverage needed. When added to a home policy – the primary policy – the personal umbrella insurance offers up to one million dollars of coverage for liability.

The In-Between Option

If you operate a home-based business, you could add a rider for your business to your home insurance and umbrella insurance. This hedges the line between personal and commercial umbrella insurance. You have to meet specific business terms to qualify.

Commercial Umbrella Insurance Rounds It Out

Operating a business in Falcon, CO, requires essential commercial coverage. In a commercial policy, a primary liability policy provides the business with a flat amount of coverage. You choose the amount, but up to the policy limits. Businesses with high liability operations, such as ziplining operations or rock climbing facilities, need more coverage. The commercial umbrella policy provides this.

Give Us A Call

Contact Pikes Peak Insurance Agency for a consultation on your umbrella needs. Some individuals who serve as community leaders need both a personal and a business policy to protect them at home and at their company.

Why You Need Flood Insurance

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If you are a homeowner, you may know about all of the types of insurance coverage that you need to have for your home. However, you may not have all of the coverage that you think you do. If you have a home insurance policy, there are things that it covers as well as things that it doesn’t. One of the things it doesn’t cover is many types of flooding. To be protected against that, you need to have a flood insurance policy.

To get one of your own, call us at Pikes Peak Insurance Agency in Falcon, CO.

Flood Claims

There are some areas that are designated as flood zones, and these areas have a tendency to regularly flood. If you live inside one of these zones, you will likely be required to have coverage for floods. However, it isn’t just those who live in those zones who need this insurance. People outside them also need to have this protection in case of floods. About 20% of all flood claims originate from areas that are outside of flood zones. Without flood insurance, these claims won’t be paid by an insurance policy. Floods can do an enormous amount of damage to a home, and it would all be for you to pay for. 

The National Flood Insurance Program

The government funds and backs flood insurance through the National Flood Insurance Program. This program is there to make sure that people can get flood insurance. They also set the price for these policies. You can get the policy from an insurance company, and the price will be the same anywhere you go. 

Get Your Flood Policy

When you want to keep your home protected from floods, you have to have a flood policy. Call us at Pikes Peak Insurance Agency in Falcon, CO.

Why Every Condo Owner Needs Condo Insurance

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When you own a condo, it can be a great way to build equity and live in a great area. It’s important, however, that you protect that condo with a condo insurance policy. This policy protects you against many different risks so that you are well protected against a wide range of circumstances and occurrences. If your condo isn’t yet covered by a condo policy, don’t wait. Call us now at Pikes Peak Insurance Agency in Falcon, CO to get the protection you need. 

Why Every Condo Owner Needs Condo Insurance

It’s Likely Required

In most cases, it is required for condo owners to have condo insurance. If you take out a mortgage to finance your home, the lender almost certainly requires that you have this coverage in case something happens to it. Even if you don’t have a mortgage on it, most condo boards require you to have condo insurance. While you own your condo, you are subject to their rules. They don’t want to have condos in their complex that are damaged because the owners can’t afford to fix them after a damaging incident happens to them. 

It Offers Great Protection

If something did happen that damaged your condo, repairs could be highly expensive. When you have an insurance policy, it pays for the repairs needed after a covered event happens to it. With this coverage, repairs can be made and paid for by the policy. This coverage also gives you liability protection. It will cover you in case someone has an accident in your home and ends up with medical bills from it. This can keep you from expensive financial liability.

Get Condo Insurance Today

Every condo owner needs this important protection to keep themselves covered in a number of ways. If you need this type of insurance, call us at Pikes Peak Insurance Agency in Falcon, CO.

Life Insurance FAQs

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Having questions about life insurance is not unusual, most people have limited knowledge about it. That’s why they count on their independent insurance agent to help them to get the answers they need. At Pikes Peak Insurance Agency, serving the greater Falcon, CO community, we are dedicated to the highest level of customer service. We are locally owned and we offer our customers more choices when it comes to carriers and the best possible prices. 

Life Insurance FAQs

Who can I choose as the beneficiary?

You can choose anyone you would like, you can choose multiple people. But, if you choose a minor, they will not be able to collect until they are of age in whatever state they live. 

What happens at the end of the term with term insurance?

When your policy reaches the end of its term, it may continue on at a new higher price. Check your original paperwork to make sure what happens. You can choose to let it continue, but it will get increasingly more expensive. It is probably a better idea to price a new policy with your current information. 

I get some life insurance from work. Do I need my own?

If you can guarantee that you will never change jobs or that the company will not go under or be acquired, then maybe no, but the answer really is yes, you do need your own insurance. 

Do I need to get a physical to get a life insurance policy?

No, some life insurance policies are sold without having to have a physical exam. But, that is a bigger risk for the insurance company and you will pay more than you would if you just got the physical. You will have lots fewer choices as well. 

Contact Pikes Peak Insurance Agency in Falcon, CO when you are ready to discuss your life insurance needs.

3 Great Reasons to Update Your Auto Insurance Policy

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If you’re looking to update your auto insurance policy, the Pikes Peak Insurance Agency is here to help. We hope to provide all drivers in or around Falcon, CO with solid, affordable insurance policies they can rely on.

Here are three great reasons to revisit and update your auto insurance policy today.

Why Update Your Auto Insurance Policy

1. Your Driving Record

Tickets and accidents can be removed from your driving record after a certain number of years have passed. This time span is typically between three and five years. Cleaning your driving record periodically can help you keep your insurance rates down.

2. Changes to Your Job

Changes in your commute can actually change your premiums. Changing your commute can alter your perceived risk factors and actually net you a different insurance rate. So, it’s a good idea to check in with your insurance if you change jobs or working locations, to see how this might affect what you pay.

3. Moving

Moving is always stressful, whether it’s across town or across the country. It also comes with a bundle of new considerations when it comes to insurance. For example, you may qualify for a ‘homeowners discount’ if you were previously renting and now own your home. Your new neighborhood may have different rates of crime, traffic, and other factors that your auto insurance looks at when setting prices.

Give Us A Call

Reach out to us at Pikes Peak Insurance Agency, and let us help you navigate revisiting and updating your auto insurance policy. If you’re in or around the Falcon, CO area, we’re here for you! We know insurance can feel overwhelming, and we’re committed to answering your questions and getting you a policy you feel comfortable with.

Protect Your Investment in Falcon CO With RV Insurance

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If you’re a proud RV owner in Falcon, CO, you want to do everything you can to protect your investment. That includes carrying the right insurance. RV insurance is similar to auto insurance, but there are some important differences. Here’s how to make sure you’re properly covered.

Auto Insurance vs. RV Insurance

The first thing to understand is that your regular auto insurance policy probably doesn’t cover your RV. That’s because RVs are classified as either motor vehicles or a home, and most auto insurance policies only cover motor vehicles. Your RV is a recreational vehicle and has a VIN #. When you register your RV, you will be required to have it insured as a motor vehicle.

How Much RV Insurance Coverage Do You Need?

Your state’s minimum liability insurance requirements for RVs may differ from those for cars. Your Pikes Peak Insurance Agency representative can advise you on the minimum amount of coverage required in Colorado.

You also have the option to purchase comprehensive and collision coverage for your RV, as well as personal injury protection, uninsured/underinsured motorist coverage, and medical payments coverage.

Basic Vs. Full-Time Coverage

Another important distinction with RV insurance is whether you need basic or full-time coverage. Basic RV insurance covers you for recreational use, such as when you’re camping on weekends or taking a cross-country trip.

Full-time coverage is for those who live in their RVs full time. If that’s you, you need to make sure your policy covers you for the state in which you live, since residency requirements vary from state to state. You’ll also need coverage for any attached structures, like awnings, and for any belongings that you keep in your RV.

Pikes Peak Insurance Agency Can Help

No matter what your RV insurance needs are, the team at Pikes Peak Insurance Agency in Falcon, CO can help. We’re experts at finding the right coverage at the right price. Contact us today for a free quote.

4 Key Areas Covered by Motorcycle Insurance

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Whether you use your bike to commute, run errands, or conquer Falcon, CO roads on the weekend, you need motorcycle insurance from Pikes Peak Insurance Agency. Insuring your two-wheeler is not only mandatory in Colorado but protects you financially when you least expect it.

Wondering what exactly motorcycle insurance covers?

Here are 4 key areas covered by bike insurance:

Liability protection

When using your bike, you may cause an accident that leads to bodily injury or property damage to others. Without insurance, you are responsible for these third-party costs, most likely from your pocket. However, this shouldn’t be much of a headache if you have motorcycle insurance.

Asset protection

Motorcycle insurance compensates you if your bike is damaged. While motorcycle insurance doesn’t prevent perils from striking, it ensures you don’t face the financial consequences alone. Getting sufficient comprehensive and collision coverage isn’t an option if you treasure your bike. This ensures you can replace your bike when the worst happens.

Medical expenses coverage

A minor bike accident may lead to serious injuries, and that’s why you need proper insurance coverage to cover your medical expenses when accidents occur. MedPay or PIP covers your medical expenses and those of your passengers without considering the person responsible for the accident.

Roadside assistance

If your bike stalls miles away from your residence, motorcycle insurance ensures you don’t remain stranded for long. The roadside assistance coverage offers puncture repair, gas delivery, battery jump starting, towing, and other services to ensure you are out of your predicament.

Motorcycle insurance in Falcon, CO

Whether you use your bike throughout or during weekends only, you must consider motorcycle insurance to bail you out when the worst happens. If you are in Falcon, CO and its environs, please contact Pikes Peak Insurance Agency today. We will offer you a motorcycle insurance policy that meets your unique needs.

Why Choose an Umbrella Policy

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If you’re like most people, you have insurance to protect your home in Falcon, CO. But what happens if you’re sued for something that doesn’t involve either of those? Is your current policy enough to protect you? Most times, the answer is no. That’s where umbrella insurance comes into the picture.

What is an Umbrella Policy?

An umbrella policy is an insurance policy that provides additional liability protection if you’re sued for more than your current coverage allows. It can help you protect your assets and your future earnings. The policy can also cover you for certain things that aren’t covered by your other policies, like defamation or slander. A Pikes Peak Insurance Agency can help determine if this coverage is right for you.

Why Do You Need an Umbrella Policy?

You might think that you don’t need an umbrella policy because you don’t have any assets to protect, or you don’t believe you’re at risk of being sued. But that’s not always the case. Here are a few situations where you might need an umbrella policy:

You have a lot of assets. If you have a lot of assets, you’re more likely to be sued for a larger amount of money. An umbrella policy can help protect your assets if you’re sued.

You have a pool, trampoline, or other recreational items. These are fun for the entire family and visitors. But they’re also more likely to cause injuries. If someone is injured on your property, you could be held liable. An umbrella policy can help protect you if you’re sued.

You have young children. If you have young children, they may be more likely to be involved in an accident. Extra coverage can help protect your assets.

Learn more about your policy options at Pikes Peak Insurance Agency in Falcon, CO. We’re here to help you find the right coverage for your needs. Give us a call today.

The ABCs About Boat Insurance

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If you have a boat in Falcon, CO, you may want the best insurance policy to protect your prized asset when the unthinkable occurs. But because you don’t understand the nitty-gritty of boat insurance, you may not get the best deal out there. Luckily, Pikes Peak Insurance Agency is here to help you navigate the boat insurance policy to help you get optimal protection.

Do you want to invest in boat insurance? Here is what you need to know about this coverage.

Is boat insurance mandatory?

No Colorado law requires you to invest in boat insurance. However, if a federally regulated lender finances your boat, they may insist you invest in boat insurance. But whether boat insurance is mandatory or not, every boater should invest in this coverage.

What does boat insurance cover?

Boat insurance is a worthwhile coverage that covers numerous areas. Some include:

  • Asset protection: Boat insurance compensates you for repairs or replacing your boat when damaged or lost because of a covered peril.
  • Liability protection: Watercraft insurance protects you when others accuse you of bodily injury and property damage. It also covers you when sued.
  • Medical payments: This coverage can cover medical bills for you and your passengers when involved in an accident.
  • Uninsured boater coverage: Since boat insurance isn’t mandatory in Colorado, you will encounter many uninsured boaters. Invest in uninsured boater coverage for peace of mind to ensure you aren’t exposed when you collide with boaters without insurance.

How much boat insurance do I need?

Invest in boat insurance that can cover the entire cost of your boat when totaled or stolen. This means you will incur little out-of-pocket expenses, lessening your financial burden.

Boat insurance in Falcon, CO

Need to learn more about boat insurance? Why don’t you contact Pikes Peak Insurance Agency for more information? You can also pop into our Falcon, CO offices to speak to one of our agents.