What is the Difference Between Tenants’ and Renters’ Insurance?

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If you rent your home or office, you have likely come across the terms “renters’ insurance” and “tenants’ insurance.” What’s the difference between the two? In short, nothing. Renters’ insurance and tenants’ insurance refer to the same thing.

This type of insurance protects the value of the contents of an apartment, office, or other rental property against common forms of loss. It can either cover specific types of loss or provide coverage against all causes. Typical loss categories include theft, fire, and flood.

Another benefit of renters’ insurance is coverage against liability. If someone is injured in your unit, the insurance will pay for a specific amount of medical costs, lawsuits, and other potentially costly effects.

You may wonder if you need tenant insurance at all. Doesn’t your landlord have coverage? The answer is no – the landlord does not have coverage for your belongings. Landlord-oriented tenant insurance might cover damage to the buildings and liability in common areas like hallways, pools, and sidewalks. But, you need your own insurance to cover the contents of your unit and any liability you may incur from accidents that happen there or on any property associated with your lease.

To find out how inexpensive it is to obtain the renters’ insurance you need in Englewood, Littleton, or the surrounding areas, contact us for a quote. You’ll be pleasantly surprised at how easy and affordable it is to have the peace of mind of full coverage.

Are there vehicles that have safe designs that can lower my insurance?

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Who wouldn’t want to save money on car insurance? There are many factors that go into car insurance cost. For example, a good driver will pay less than a driver with a lot of accidents and a driver in Littleton will probably pay less than a driver in Los Angeles. Another factor to look at is your vehicle–to insurance companies, not all vehicles are created equal. Some vehicles have safe designs and safety features that make them less likely to have a serious accident, thus making them cheaper to insure.

One of the most common safety features that will save you money on car insurance is anti-lock brakes. They come standard on many cars and are available as an option on most, but having them reduces your chance of an accident and your insurance costs.

Side impact air bags can reduce the likelihood of a fatality in a crash, a fact which can lead to reductions in insurance premiums of up to 40 percent with some companies and policies. The Insurance Institute for Highway Safety says that electronic stability control can reduce auto collision losses by 15 percent, too. With that in mind, having this option on your car will bring down your costs of insurance.

Safer cars mean lower insurance premiums, so it pays to find cars with great safety features.

What is an occupant compartment?

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Car insurance documents can contain a lot of confusing jargon. Learning just what all these words mean can make it easier to know which policies have the right coverage for you. When looking at information about car insurance or the risks of car accidents, one of the terms you will encounter is “occupant compartment.”

The occupant compartment is that part of a vehicle where the passengers sit. The size and location vary, but this part is present in all passenger vehicles, typically behind the engine and in front of the trunk or bed. The quality of the design a car or truck will affect how safe that vehicle is. Vehicles that are designed to keep damage far away from the occupant compartment are generally safer. For instance, many SUVs feature roll bars to reduce damage. A well-designed occupant compartment will have safety features inside, as well, such as standard devices like seat belts and air bags. Newer cars have more advanced features such as systems for detecting blind spots and systems that will warn you if you drift from your lane.

Safer vehicles generally have lower insurance premiums. When shopping for a car in the Englewood or Highlands Ranch area, keep safety in mind to keep insurance costs down. Choosing a car with the best protected occupant compartment not only saves lives, but saves money, as well.

Three Things You Should Know Prior to Buying Colorado Homeowners Insurance

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Although not required by law in the state, your lender may require you to purchase insurance in order to finance your mortgage — and it’s a good idea to have it regardless. Here are three things you should know before you buy Colorado homeowners insurance:

  1. The most expensive policy is not necessarily the best one. Many insurance companies may tout themselves as the "best" insurance company to go with — but they may have hefty price tags on their policies. However, this doesn’t necessarily mean you’re getting the best deal. To get a policy that’s truly fairly priced, do a careful inventory of your home and its possessions before you shop for your policy. Put a replacement value (not the current value) on everything in your inventory, and price your home’s structure the same way. Go for replacement value, not current value. Then, armed with that information, comparison shop by going online and checking out homeowners insurance companies that service your area. Choose the least expensive policy from a company that has a good reputation but one that still gives you the coverage you need.
  2. The least expensive policy is not necessarily the best one. Lots of insurance companies will give you a price break on your insurance such that it looks like you’re getting a very good deal: low premiums with lots of coverage. Be careful, though. Check out a company’s reputation before you buy, including its quality of customer service. A lower-priced policy may leave you high and dry because you can’t get ahold of your agent when you need to or because customer service is shoddy.
  3. All insurance companies are not created equal. Do your homework. A company’s reputation should always, always trump policy price. When you’re doing your research, choose two or three companies with stellar reputations via online research, establish replacement price points for your housing structure and possessions, and then choose the lowest priced policy from one of these "stellar reputation" companies to give you the coverage you need.

How to Obtain a Colorado Insurance License

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To enjoy a successful career as an insurance agent in Colorado, you must first be licensed by the Colorado Department of Regulatory Agencies to sell insurance in the state. The process is not overly complicated and is open to anyone 18 years of age or older. Still, there are a few distinct steps that you need to take in order to get the license to sell auto or home insurance in Colorado. Here is a brief rundown of the process:

  1. Pre-Licensing Education — Becoming licensed as a Colorado insurance agent requires that you first take a pre-licensing education class. There are a variety of courses that the state will approve for this class, and they can be found listed on the Colorado Division of Insurance website. The pre-licensing you pursue must be directly related to the type of insurance you would like to sell in Colorado.
  2. Insurance License Examination — Following the successful completion of pre-licensing education, you will then have to take and pass the insurance license examination administered by Pearson VUE.
  3. Insurance License Application — Once you have passed the insurance license exam, you will need to apply online for an insurance license through the state. You will pay any applicable fees at this time as well.
  4. Repeat — This process needs to be followed for each type of insurance you would like to sell in Colorado. Auto and home insurance are very different in many ways; you must go through all these steps to get the proper education and be sure that you can obtain a Colorado insurance license and sell insurance products accurately and fairly. But if you keep all these steps in mind and study hard for the insurance license exam, it should be quite easy for you to successfully obtain a Colorado insurance license.

How to Compare Colorado Auto Insurance

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Some people go to the very first insurance agent they see to buy Colorado Auto insurance while others prefer to compare Colorado auto insurance rates offered by a number of different insurers. In order to try to get the best deal on Colorado auto insurance, you should compare several different insurance companies.

How to Start

It is important to compare the same levels of insurance with every insurance company that you contact for a quote. If you have the same coverage with two or more companies, you can differentiate them by seeing which company charges you the most and which one charges you the least.

Should Price Be the Only Way to Decide?

While the premium is probably the most important consideration when selecting Colorado auto insurance, it should not be the only criteria for making your final decision on which company you want for your vehicle coverage. It is also quite important to have a financially sound company that has a history of handling claims quickly and making fair settlements.

Remember to Ask for Discounts Before Getting a Quote

As you call around or contact different insurance companies, you should be sure to ask them if they have any discounts that might apply. Sometimes, an insurer will voluntarily tell you about all the possible discounts and other times they will only tell you if you ask. Buying two or more policies will usually get you a discount.

Checking Auto Insurance Online

Contacting a handful of insurance companies is a lot less time-consuming if you go to an online insurance site that offers quotes from multiple insurance companies. You only have to enter information about your self and your car once instead of for every insurance company for whom you want a quote. In a few hours or maybe a few days, you should have a quote from at least three or four different insurers.

Best Home Types to Protect Against Snow or Ways to Modify Your Current Home to Enhance Protection

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If you are living in an area that endures winter weather, snow and ice, you want to find a home that is constructed with those conditions in mind. Some types of homes withstand harsh winter conditions better than others. However, any home can be modified to enhance protection from snowy weather.

  • One of the best home types to protect against snow is one that has a steep slope to the roof. This makes it easier to do snow removal from the ground, rather than climbing up on top of a low-slope roof. Snow is more likely to fall or blow off from the steep pitch, which will reduce overall weight load. Snow is heavy, but ice is the worst culprit, weighing almost as much as water. Water weighs over 62 pounds per cubic foot.
  • Homes located in a snowy mountainous area may be in the path of avalanches. Some creative designs that work well incorporate protective sliding wooden shutters over glass, retractable wooden walls to protect open areas, and a home may have steelwork added to strengthen the home structure. Glass can be strengthened and glazing enhanced to be stronger.
  • Roofs in snow country should be outfitted with snow guards that help mitigate the effects of snow and ice build-up. Injuries can occur when snow avalanches off a rooftop onto a person standing below. Preventing a build-up of ice at the edge of the roof is recommended; also, removal of large icicles should be done regularly. Metal roofs are particularly prone to sliding snow and ice avalanches.
  • Exterior paint should be the best available for weather conditions. Acrylic paint is very durable. Its elasticity is a benefit, as changing weather can cause expansion of wood trim and siding. If solar panels are used, keep them cleared of snow so they will continue to function well in winter.

Recovering from an Accident with or without Insurance

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The differences between recovering from an accident with insurance as opposed to without are drastic and could be life-changing. Insurance coverage is required for vehicle use; driving without insurance violates state laws. It is prudent to have insurance coverage even for wealthy persons. The ramifications of getting into an accident are large and long-lasting.

Recovery without Insurance

  1. There is a fine for not carrying insurance coverage on a vehicle that is driven.
  2. The person at fault may bear all expenses related to the accident, including property damage and personal injury.
  3. It may be necessary to pay for repairs immediately.
  4. Your driver’s license may be suspended for a year.
  5. It may be necessary to file aSR-22 financial responsibility form.
  6. Future insurance rates may be double or triple for up to three years.
  7. Court appearances and possible legal expenses may result.
  8. You must try to collect from other driver’s insurance company if they are at fault.

Recovery with Insurance

  1. Damages are paid for less the deductible amount.
  2. Repairs can be made right away.
  3. THe insurance company negotiates with the other insurance company on your behalf.
  4. Rates may go up, but not as high as if you had no insurance.
  5. There is no penalty for a lack of insurance.
  6. Thee is no need to file a SR-22.

Without insurance, you risk possible bankruptcy if you are at fault and are sued for damages and injuries. You will suffer from increased insurance rates for years after, and finding an insurer will be more difficult. Breaking the law will have its own repercussions, including a driver’s license suspension. This could affect your ability to get to work and earn an income. Medical injuries are very expensive and, without insurance, you are liable for those expenses on your own.

Always consult with your insurance agent to determine the best insurance plan for your situation.

Home Insurance and Your Home Inventory

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Creating a home contents inventory and keeping it updated is an essential task that every homeowner should complete at least in some form. You do not have to be a professional movie producer to videotape your possessions or take sharp photographs. All you need to have is a small amount of equipment and patience. The result will be documentation that can smooth the way to recovery whenever a claim is made against home insurance for losses due to natural disasters, theft or other damage to the home contents.

What Equipment is Necessary?

  1. Use a form that you can obtain from your insurance agent or online to list household contents.
  2. Use a video camera, digital or standard camera to visually record everything. A copy stand or tripod can be very helpful for getting a good close-up photo.
  3. You will need a safe place to store your documentation away from the home. A bank safe deposit box or online digital storage facility are excellent choices.

What Items Should Be Documented and How?

  1. Keep a record of all items you may want replaced or repaired. Include everything — from rugs to ceiling fixtures, personal items, electronics, appliances and furniture. Go through every room, including the attic, basement, garage and outbuildings, to make your list. Include small items like toys, wall hangings, contents of drawers, plants, games, sports equipment, ornamental lawn items, tools, outdoor furniture and any item that has value and would cost you to replace.
  2. Keep a written record of item price, when it was purchased, serial numbers, brand names, sizes and estimated replacement costs. Include any receipts or appraisals.

A home inventory should be updated regularly and as new items are acquired. It can be used for speeding up claim recovery when needed and to decide how much insurance should be purchased.

Tips for Shopping for Cheaper Insurance in Colorado

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When you’re shopping for cheaper insurance in Colorado, it is important to make sure that you are not only looking for a low price, but also quality insurance. You can search for "Cheap car insurance in Colorado" and find many different results. You may find results from specific companies in your area, and you might also find many websites that offer the option to search for quotes from many different insurance companies at the same time.

When you choose to use one of these insurance quote websites it is important to check the website for validity before you enter any personal information. Most of these sites will only ask you for your zip code, age and the type of insurance you need. Some of them, however, might ask for your email address, your name, address, phone number, and other personal information that they may use to solicit insurance to you. This might be to your liking, since you are in the market for insurance, but you need to read the privacy policy and the terms and conditions before you sign up to get a free quote from these types of places.

When you are entering in your information for a cheap insurance quote, you should always be honest. This way you can get the most exact quote for you. If you have any previous tickets or accidents, ensure that you include those as well as any safety features you have on your vehicle. This will help the quote finder give you the best quote and the best companies for you to purchase car insurance from in Colorado. Some quote websites will also give you detailed information about your state’s car insurance statistics including the most commonly stolen cars, how many drivers there are, and much more!