Here is a quick guide to homeowner's insurance in Colorado

Look past the price

Pricing, while important, is only part of the story — the ins-and-outs of coverage should be top-of-mind while you search for a policy. Many agents miss limitations and exclusions that impact your coverage when providing a quote, so be ready to advocate for yourself to ensure the policies you look at have what you need. “Would you insure half your car?”  It’s important to ask questions. Look at all the additional coverage options. That is what All Access Insurance will do for you.

Location will impact your premiums

Where you live will affect your insurance rates more than any other factor. The most common claims in Denver are for theft, water damage, and hail. The Denver Post reported that a bad hailstorm lasting just a few minutes can lead to far costlier claims than a forest fire that burns for days. Meanwhile, Durango, a smaller city in southwestern Colorado, manages to dodge hailstorms (it didn’t have one in 2018, while Denver had 16, according to StormerSite). Durango also enjoys fewer claims for property crime, hence its more affordable policy prices. As a result, homeowners in Durango pay about three times less than their counterparts in Denver. 

Beware of “storm chasers”

Hail is such a widespread problem in Colorado that it has spawned its own cottage industry of roofing scammers. After a really bad hailstorm, scammers — known as “storm chasers” — often go door to door promising roof repairs, says the Denver Post. If you get an unlicensed contractor to perform hail repairs, you could end up damaging your home and your insurance premium.

Early June 2016 saw damaging hail throughout metro Denver, which spawned a local coalition led by the Better Business Bureau and the Colorado Division of Homeland Security and Emergency Management to raise awareness about these shady contractors. Before you sign a contract with a roofing contractor, here are some tips from the coalition on how to avoid getting played:

• Don’t get pushed into signing a contract right away. Try to compare estimates with another contractor first.
• Make sure the contractor is registered to conduct business in Colorado by checking this database, and see to it that they have a permanent address and federal tax ID number.
• Ask for proof of the contractor’s insurance.
• Don’t pay a contractor in full until the work is complete.
• Don’t sign a contract with blank entries, or wishy-washy language, where a contractor may be able to add in terms later that you didn’t agree to.
• Make sure the contract you sign complies with Senate Bill 38.

Keeping you protected.

Rick

All Access Insurance in Littleton, CO,  who represents multiple insurance companies as a “Broker” and provides products for auto, home,  commercial, workers compensation, and much more! Call us today for a free quote at (303) 932-1700.