Home Insurance Rates Have Gone Up In Colorado

A lot of consumers have been getting their home insurance renewal statements lately and have been going into shock!!   Home insurance rates in Colorado have gone up on average about 10 to 15% and in some areas 40%.  These consumers can thank the tremendous amount of property losses taking place in the year 2012.  These losses are from wind and hail that we received in the summertime and wildfires that have been going on since the beginning of the year.

These wildfires include the Little Sand Fire, The Treasure Fire, Weber, Waldo and Flagstaff,  Lower North Fork, The High Park, Springer, Woodland and Last Chance, Ironing Board and Pine Ridge.  These wildfires have easily exceeded over $500,000,000 in damage, though the number not official, wildfires alone could reach eight to nine hundred million.

The state on top of all the wildfires also received a large amount of wind and hail.  During the  months of May, June and July, Colorado received a large amount of wind and hail.  This took place throughout the state of Colorado.

These losses eventually get passed onto the consumer one way or another, either by requiring 1-2% wind and hail deductibles or the consumer has seen insurance rates going up.  Some companies are even requiring that you package your auto and home and especially your rental property.  Companies are going towards or already have requiring that you package all your insurance products with them. The standalone home or landlord insurance policy is more than likely going to go away in Colorado.

If you are one of the consumers who is getting non-renewed or your home insurance rates have spiked, or if you are having problems getting any type of insurance on your home or auto, gives us a call.   As brokers we have multiple sources and can bundle your insurance needs.

Sources: –Rocky Mountain Insurance Information Association

Wikipedia

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Why Do Insurance Companies Need So Much Information & Ask So Many Questions?

Insurance companies are at risk when they insure you.  Therefore, they have to be very thorough in the information they capture in order to make the right decisions and to take on the risk.  Questions such as who will be driving the car, where  the vehicle will be garaged, what is the Vin# of the vehicle, how many people are in the household, and is there a fireplace in your home are just a few examples of what insurance companies need to know.  Many times people can’t understand why the question is asked….is there a trampoline on the property or a swimming pool?  Think about it, these are liabilities.  What if a child ran away from his parents and wondered onto a property with a swimming pool, fell in, and drowned, what position does this put the insurance company in?  And a trampoline just invites trouble, somebody comes over, gets on the trampoline, starts jumping, gets caught and really hurts himself, what kind of position does this put the insurance company in…..and what if the insurance company doesn’t even know there is a trampoline or a swimming pool on the premises…then there really is a problem. 

Insurance companies have to have the information and COMPLETE information.  Without it, they have a false statement of what the risk really is.   They also have an application that is misrepresented, in this case, they can reject a claim.  Make sure you give your insurance agent complete details on your request, and don’t be afraid to ask questions.  That is why you have an insurance agent.

 

 

 

Homeowners Insurance | Get A Free Home Insurance Quote

Homeowners Insurance Program

At Denvers Insurance & The Ahbe Group, we know that your home is one of your most important investments you could ever make. That’s why we never take short cuts, when we build our home insurance policies. Work with one of our agents, and she/he will guide you through the process to find a policy that is best for your needs. Let us invest time into you, just like you did with your house.

Types Of Policies We Can Write

We can write properties of all types. This could be a small house, to a multi-million dollar one.

  • Dwelling(DP-3) Insurance
  • Home(HO-3 & HO-5) Insurance
  • Condo Insurance(HO-6) (Unit Owners)
  • Renters & Tenants(HO-4) Insurance
  • Seasonal Home(HO-3 & DP-3) Insurance
  • Vacant Home(DP-1) Insurance
  • If you are looking for Landlord Or Investment Property insurance, please click here.

Coverages

We offer comprehensive, “worry Free” insurance coverage.

  • Dwelling Or Structure With (RC)Replacement Cost (some policies don’t qualify for replacement cost)
  • Extended Dwelling Coverage
  • Other Structures
  • Personal Property With (RC)Replacement Cost
  • Medical Payments
  • Homeowner Liability
  • Loss Of Use
  • Sewer Back Up
  • Identity Theft
  • and more!

Homeowners With Previous Claims & Loss History

Helping homeowners who have been non-renewed due to many claims is one of our specialties. If you no longer qualify for a policy with a standard company, we can help you out. This can be anywhere from just a couple of claims, all the way to a full list. We will also counsel on how to avoid non-renewal in the future, and eventually get you back into a standard company.

High Value Home Insurance

We understand that some customers may have high value homes, requiring unique comprehensive coverage. We have multiple markets that offer insurance for high value properties.

Unusual Risk Home Insurance

We know some properties are located in areas that make inherently more risky to insure. We have markets that fulfill needs for hard to place risk. For Example: Mountain houses in wild-fire risk areas with minimal fire protection.

Our Companies Claims Process Is Excellent

We only write insurance with companies that have an excellent claims process. A claim can be complicated, but our companies will treat you fair and keep the process as simple as possible.

Personalized Service

Our agency is family based and understands insurance. You will work one-one-one with an experienced agent who will find a policy that best fits your business needs. We believe in “good old-fashioned customer service”.

Get A Free Home Insurance Quote!

We offer up to 10 personal lines companies for home insurance. To get a free home insurance quote, please use our quick form, or contact us during normal business hours at (888)-270-0995. We will counsel you into how to receive the best price, for the most coverage. We will also advise on how to maximize discounts.