Preferred Broker in Northern Colorado
Here are few homeowners insurance topics to discuss with your agent that will influence your decisions.
- How much will it cost to rebuild my house and replace my belongings if they are damaged or destroyed? (Ask your agent to talk you through your home’s features and the things you own so you can make an informed decision about coverage.)
- Does the insurance company have a good reputation for customer service? Is it known for paying claims fairly and promptly?
- What discounts are available? (Ask about multiple policy, security system and fire resistance discounts.)
- What’s the process for filing and settling a claim? (Ask who to call and what happens after you file a claim.)
It is really all about protecting yourself financially if something unexpected happens to your home or possessions. That’s important because chances are your home is likely one of your largest investments.
- If your home was destroyed by fire or damaged by a natural disaster, you’d need money to repair or replace it.
- If a guest in your home is injured, liability protection and medical coverage help pay expenses.
- If you are a victim of theft and vandalism, it can reimburse you for your loss or pay for repairs.
- If you are still paying for your home, your lender will require insurance.
It is important to know that homeowners insurance is meant to cover unexpected damage, not routine maintenance. Ask your agent to talk about what is covered and be sure to read your policy so you know exactly what’s included and what is not.
We’ll help you understand all of your coverage options. Did you know that your auto insurance doesn’t cover the theft of valuables out of your vehicle, but your homeowner’s insurance might? Did you know that your credit score may have an impact on your homeowner’s insurance rate?
Are you covered in the event of a flood or earthquake?
Do you own multiple investment properties as a landlord?
We can help you with all of the above scenarios. You don’t have to be a licensed insurance agent yourself, just call the best and let us walk you through the process.
Cut Through the Confusion with Jackson Insurance®
Whether you own one home or two (or three), you deserve to know that you are getting the best policies at the best insurance rates around! You can have that peace of mind by calling one of the licensed independent insurance agents at Jackson Insurance or by filling out our “request a quote” form and let us get started on evaluating your needs, rates, and current coverage! Homeowner’s insurance provides financial protection against disasters. A standard policy insures the home itself and the things you keep in it. Homeowners insurance is a package policy. This means that it covers both damage to your property and your liability or legal responsibility for any injuries and property damage you or members of your family cause to other people. This includes damage caused by household pets. Damage caused by most disasters is covered but there are exceptions. The most significant are damage caused by floods, earthquakes, and poor maintenance. You must buy two separate policies for flood and earthquake coverage. Maintenance-related problems are the homeowners’ responsibility.
If you own a home and it is your primary or even secondary residence, this is the policy type for you. With several homeowners insurance companies available, each carrier might offer different endorsements, coverages, and even policy forms for your home.
Home value: One of the most often discussed and a very important factors on your homeowners insurance policy is the “home value” – Dwelling coverage. The dwelling coverage amount (coverage A) on your homeowners policy is different from market value. The home market within your area may be significantly high but the cost to rebuild your home can often be less expensive. One factor to keep in mind, the insurable value does not include land. The land alone plays a role in the market value but not on your homeowners insurance.
There are multiple other coverages to consider when purchasing your homeowners policy such as other structures (sheds, fence, detached structures, etc.) and liability coverage. Please discuss in detail with your agent your coverages, endorsements available, and any additional questions you may have. A general review annually is recommended.
A few of many important details to keep in mind when reviewing your homeowners quote/policy:
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Discuss the attributes in detail with your agent. These attributes are obtained from multiple sources by an agent such as county assessors, google images, Zillow or other sites that may show photos and provide details of your home. Although we use multiple resources mentioned, these sources may not be 100% accurate and/or may be missing updated information. We do our best to ask details about your home and review these attributes, but it is important for you to share these details with us as well, and not just when getting a quote. Example: If you obtained a homeowners insurance policy and your kitchen started out as builders grade but then you remodeled and upgraded your kitchen to semi-custom or custom, it is extremely important to inform your agent so they can make changes on your policy accordingly. All of this data is entered into what is called a replacement cost estimator through each insurance company to determine the replacement value of the improvements on the property.
The dwelling amount does not mean that is 100% what the insurance company will pay out. You could tell the insurance company your home should be insured at $650,000 but if the replacement value of the improvements on the property are only $400,000, that is more than likely what the insurance company will pay out at.
This is an endorsement that can be added to most homeowners insurance policies and can be offered in multiple amounts such as 25%, 50%, 100% and more. This is a very important endorsement to consider when purchasing or reviewing your homeowners insurance. The extended dwelling coverage can be explained best as a “buffer”. For example, lets say your Dwelling Coverage (Coverage A) is at $356,000 and a loss were to occur to the dwelling. The insurance carrier could pay up to $356,000. There is not a guarantee they will pay $356,000 as they responsibility of the insurance is to place you back to the same
condition you were prior the loss. But if building costs were to increase midterm of your policy and $356,000 is suddenly not sufficient, that is where extended dwelling coverage can take place. If you have your Dwelling Coverage (Coverage A) at $356,000 and also have 25% extended dwelling coverage, this would provide up to $445,000 in coverage. If you had 100% extended dwelling coverage endorsement, this could mean up to $712,000 in coverage. While most policy only offer the lower extended dwelling endorsement percent, some carriers can offer greater than 20%, even a few at guaranteed replacement cost. Please ask us about extended dwelling coverage on your homeowners policy and what options are best for you.
It is very beneficial to advise your agent of any updates with your home. These updated can be everything from new flooring, updated bathroom(s), to a new roof. These all have rating factors on your homeowners policy and are very important details to share to maintain adequate coverage.
This policy type is if you own the property but rent it to others. There are some fundamental factors that are similar to a homeowners policy such as your dwelling coverage (coverage A) but the risk is also different than a homeowners policy and it will have different rating factors that can impact the rate.
One coverage to consider on a landlord dwelling besides the dwelling coverage and liability is personal property (coverage C). As a landlord, you may have some personal property in the residence such as appliances. The value for these items you have in the home as a landlord is important to share with your agent.
Due to the risk of not having the home as your primary residence but a rental is that sometimes renters do not have the same pride in the home as a homeowner typically would. This can create greater risk for loss. Review your coverages and endorsement options with your agent to find coverage that fits your needs as a landlord. If you have a property management company involved or other restrictions within your lease, that can provide a discount on your policy with some insurance companies.
Ask your renter(s) to carry a renters policy listing you (or your entity that owns the property) as additional interest on the policy. The renters insurance policy they can obtain is fairly reasonable in cost, provides the renter(s) protection with their own personal property, but can also include liability coverage. By having you or your entity that owns the property as additional interest, the insurance carrier will notify you if the policy were to cancel. Having this requirement in your lease can offer you as a landlord more protection.
AIRBNB, VBRO, or other growing industries for rental type properties require different coverages/endorsements. Please discuss these with your agent to have adequate coverage in place.
Condo policies typically have a different policy form they are insured on. If you own a condo/townhome, an important question will be asked of you which is, do you have an HOA and do they carry a master HOA policy? This is very important for you to know as a condo/townhome owner for multiple reasons.
1) If there is a master HOA policy in place, there is a deductible on their master policy that is often very high. Example: We have seen master HOA policies to have $10,000+ deductibles. This deductible could be split among each individual condo owner in a particular loss such as a hail claim to the roof. It is very important to carry loss assessment coverage on your condo policy for instances like this so you do not have to pay that amount out of pocket. There are multiple values when purchasing loss assessment coverage and to determine the right coverage for you, it is beneficial to have the conversation with the HOA and ask about their master policy deductible and if they request/recommend a specific amount to purchase on your condo policy.
2) If there is a master HOA policy in place, that policy typically also includes coverage for the “shell” of your condo such as the roof, siding, deck, garage, etc. If this type of policy is in place, the condo policy is for your portion that you own and what we call “studs in”. This would truly be for the studs of the condo inwards covering things such as drywall, light fixtures, floor coverings etc. Once that value is determined, that would be your “dwelling amount” on your policy. There would also be a separate value in coverage to consider which would be your personal property. When thinking of your personal property, consider the replacement value of your clothes, tv, furniture, etc.
If you are a tenant, we suggest obtaining a renters policy. This includes coverages such as liability but also your personal property. A renter’s policy is typically reasonable in cost and a great asset to protecting your insurance needs as a renter.
Are you building a home? This might be the policy for you! Builders risk policies help provide protection while your home is under construction. Call us today to inquire about your builder risk options and what best fits your needs while you are having your home built.
If you own a property that is vacant for long term due to remodeling, going to be renting out, or selling, we have quote options for you! Each scenario is a bit different so we will go over details with you to find the accurate policy to cover the vacant property.
Mobile Home | Manufactured | Modular
These types of homes are increasing in popularity as they can be more cost effective when purchasing a home as well as for insurance purposes. Most of these types of structures are placed on a policy with a company that specialized in manufactured/modular homes. Although, if you have a true modular home that the title has been purged and it has been placed on a permanent foundation, there is potential options to write is as a regular stick-built home. We multiple options and carriers, give us a call to discuss your situation and we will help find the right policy that fits your needs.
Even if you have an adverse driving history or other negative factors, we may be able to obtain you the coverage you need and at a surprisingly low rate! Give us a call or contact us today! Independent agents, as opposed to captive agents, can not only compare rates and coverage between companies, but they can then take the next step in helping you purchase the best insurance coverage at the best rate. Want to see our service in action? You can call us, come into our local office and talk to a live person, or click on the button above to request a quote and get the process started.
All of our agents are licensed by the state of Colorado and keep their insurance knowledge and skills up to date by taking continuing education courses in their fields. We monitor the auto insurance companies we represent, as well as monitoring your coverage to make sure that if your circumstances change and you could have a better auto insurance rate, or your coverage needs have increased/decreased, we can make the necessary adjustments to your policies!
It’s really all about protecting you and your family financially.
If you’re in an accident or your car is stolen, it costs money, often a lot of money, to fix or replace it.
If you or any passengers are injured in an accident, medical costs can be extremely expensive. If you are responsible for damage or injury to others, you may be sued for much more than you’re worth. Not only is having auto insurance a prudent financial decision, all states require you to have at least some coverage.
Does Jackson Insurance provide SR-22 insurance?
SR-22 isn’t a type of insurance, but rather proof that you have coverage (based upon the financial responsibility laws of your state).
Simply, it is a form which must be filed by the insurance company to the state or Department of Motor Vehicles stating that auto liability insurance is in effect for a particular individual. Jackson Insurance will provide and file this form for you.
Typically SR-22 insurance is required when an individual is in an accident without insurance or was convicted of a traffic offense (ex: DUI/DWAI) or was unable to show financial responsibility.
Located in Loveland represents all of Colorado and Wyoming (including but no limited to): Denver, Colorado Springs, Pueblo, Grand Junction, Fort Collins, Greeley, Longmont, Boulder, Sterling, Vail, Glenwood Springs, Fort Morgan, Durango, Cortez, Lakewood, Arvada, Thornton, Litlleton, Aurora
Auto insurance purchased and serviced through Insurance By Phone, Inc. protects you against financial loss if you are involved in an accident. Auto insurance is a contract between you and the insurance company. You agree to pay the premium and the insurance company agrees to pay your losses as defined in your policy.
The state of Colorado requires a minimum of:
$25,000 per person / $50,000 per accident and $15,000 for property damage. (25/50/15)
Most auto insurance policies are for six months or a year. Your insurance company will notify you by mail when it’s time to renew the policy and to pay your premium.
Liability coverage pays for your legal responsibility to others for bodily injury or property damage.
Optional coverages that are not required by law but are recommended by our Insurance By Phone, Inc. agents are as follows:
- Medical coverage: pays for the cost of treating injuries, rehabilitation and sometimes lost wages and funeral expenses to you no matter who is at fault.
- Uninsured Motorist Bodiliy Injury / Underinsured Motorist: pays you in the event that you are injured by an uninsured or underinsured motorist. Latest statistics show that over 30% of Colorado drivers drive without insurance.
- Comprehensive: In the event of theft, fire, hail, vandalism, hitting an animal, and certain other losses or damages, this coverage will pay to repair your vehicle.
Collision: In the event of a collision, this coverage will pay to repair your vehicle.
It is often only a few dollars more to increase your limits to the next level, 50/100/50. When evaluating your insurance, it is important to look at your personal assets such as if you are a homeowner, your future income, and/or any possible risk that an attorney could consider in litigation.
It is important to our agency to provide competitive quotes with value and insurance that fits your needs. We may ask questions to help assess the right coverage for you but please also inform us of anything that may impact your future if a loss were to occur.
Lastly, keep in mind that when financing a vehicle, the lender typically requires you to carry comprehensive and collision coverage. This is what most people consider “full coverage” but that is a term we steer clear of in our agency. The term “full coverage” can be misleading and imply that everything is covered. It is important to review your coverages entirely when either obtaining a quote or if you have an active policy. It is equally as important to review the exclusions and what is not covered on your policy, so you are prepared if/ when a loss was to occur. Please feel free to ask us any questions about other possible coverages that may not be included on you quote/policy or ask us for a general coverage review of your policy and we would be more than happy to go over those details with you.
Regular Auto Insurance
In the state of CO the minimum requirement for insurance is liability limits at 25/50/15. This valuation was developed back in the 70’s and as I am sure you are aware, the cost to repair and replace vehicles has significantly increased since. When purchasing insurance, price is important, but it is also equally important to consider the value of the insurance. For example, if you only carried 25/50/15 these means you are limited to only $15,000 in property damage. If you are in an at fault accident and hit another vehicle that is more than $15,000 in value (which is a large percent of vehicles on the road), your insurance would max out at the $15,000 and you can be responsible for the difference, including your assets and future income at risk. Lastly, if you consider the cost of medical now days, having only state minimum liability limits at $25,000 each person $50,000 each accident, that can be used up very quick in the result of an accident from the other injured party.
Classic Auto Insurance
Classic/antique autos are unique and often sentimental as well. Having the right coverage on your classic car is very important in protecting your “one of a kind” car. There are many options for insuring these types of vehicles such as actual cash value, stated value and agreed value.
Consider the value of your vehicle(s) first. While these vehicles can be sentimental, that unfortunately is not considered in insurable value. But what is considered is the current value of the vehicle if a loss were to occur and you would need to replace that vehicle. There are many tools you can use other than an appraisal. Searching online for comps that are similar to your vehicle is a great way to determine the value and also many specialty insurance companies such as Hagerty have online tools to help determine the value if you are unsure.
Secondly, inquire about the type of policy for your classic auto(s). Most standard auto insurance companies will place the vehicle on an actual cash value basis. Although, some may offer stated value. The most valuable classification for a classic auto would be on an agreed value basis and this is typically offered through a specialty insurance carrier for classic autos such as Safeco, Hagerty, Berkely, American Modern and Grundy.
Lastly, be prepared for the request of photos. Insurance companies, more so the specialty insurance carriers, will require photos of the classic vehicle(s). The insurance companies need to confirm it is parked/stored in a locked garage or facility as well as confirm the condition and attributes of the vehicle(s). If your vehicle has a roll cage or custom paint, these are a few of many important details to share with your agent so the insurance company can rate your vehicle(s) accordingly.
SR22 Auto Insurance
This is a requirement that is typically assigned by a court for certain drivers. It is not a policy type, but just an endorsement on an auto policy. This endorsement is a financial responsibility form that generates a certificate called an SR22 that is provided to the state required. An SR22 can be required to get your license back. The State Required (SR) filing (22) requires the insurance carrier to notify the state of the policy in effect with minimum liability coverage and if that policy cancels or has a lapse, for any reason, the insurance carrier must notify the state which can result in immediate license suspension.
How long do I need my SR22? This is a great question that is very critical. Each driver that is required to carry an SR22 filing can be required to have the SR22 for different time frames. We recommend contacting the court who assigned the SR22 to determine how long you are required to carry it for. There is a major risk for removing the SR22 prior to the required end date, such as your license being revoked and possibly having to start the process over.
Keep in mind, not every insurance company offers SR22’s. There are certain companies that allow this endorsement to be added. The reason being is that some insurance companies specialize in the “higher risk” for SR22 drivers such as prior DUI’s, driving uninsured, etc.
If you do not own a vehicle but need an SR22, please let us know. We have several policy options for customers that need a SR22 filing but may not own a vehicle or have a unique circumstance.
SR22 Cost – due to this being just a filing attached to a policy and not an actual policy type, the cost can vary greatly. This is because there are still multiple rating factors on the policy such as your vehicle type, coverages selected, driving record and more.
You don’t have to wonder any longer if you and your business have the right commercial insurance coverage; rest easy and let one of our licensed agents walk you through exactly what you need! You built your business, now protect it. Our local Loveland agents will seek out and provide the best coverage, rates, and service for any of your commercial insurance needs. As an independent agency, we have 20+ insurance carriers to quote, provide and service several types of commercial policies such as General Liability, Commercial Auto and Property, Bonds, and more!
The policy provides coverage for liability arising from personal injury and advertising injury.
This pays medical expenses resulting from bodily injury caused by an accident on premises owned or rented by the insured party. It also covers injury on locations next to such property, or when caused by the insured’s operations.
The policy also covers accidents occurring on the premises or away from the premises.
Liability coverage is provided for injury or damages arising out of goods or products made or sold by the insured.
In addition to the limits, the policy provides supplemental payments for attorney fees, court costs, and other expenses associated with a claim or the defense of a liability suit.
There are two commercial general liability coverage forms, the occurrence form, and the claims-made form.
The difference between them lies in the way claims are handled under the two forms. While the occurrence form covers bodily injury or property damage claims that occur during the policy term, the claims-made policy form only covers claims made against the insured during the policy term.
The fire damage limit provides liability coverage for fire damage caused by negligence on the part of the insured to rented premises. If a fire occurs because of negligence and damages to property not rented to the insured, coverage is provided under the occurrence limit.
Coverage is also provided for injury resulting from offenses such as false arrest, malicious prosecution, detention or imprisonment, acts of invasion, or rights of private occupancy of a room.
Liability coverage for libel and slander is also provided in the policy.
This commercial insurance coverage pays for damages done in the course of oral or written advertisement that disparages, libels, or slanders a person’s or organization’s goods, products or services.
Commercial Liability Coverage
A commercial liability insurance policy provides insurance protection to pay for bodily injury or property damages when the insured is legally responsible.
Commercial Property Insurance
Commercial property insurance can be for a standalone building, leased office, business personal property and other business assets. These types of policies can provide coverage for losses such as hail, fire, theft, liability, pipe burst, cyber liability and more. Commercial property policies offer several different types of coverages and endorsements to each type of business to apply adequate coverage that fits each business owner and property needs. It important to discuss specific coverages, concerns, and deductibles with your agent.
Recent updates on the building such as roof, heating, plumbing and electrical can benefit you when obtaining a commercial policy. Different policy forms and settlement offers apply to different risks. For example: If your commercial property has not had updates in several years, the insurance carriers might only offer ACV (actual cash value) settlement instead of RC (replacement cost). Coverages, deductibles, claims history, and other factors play a role in your premiums.
Below are a few of many commercial policy options. Call Today to discuss your business with one of our commercial agents to determine the right coverage for your business.
Bodily injury, customer property damage or other losses that may occur in your business can happen and having a general liability policy for your business can help protect you if you are held liable from your services, products, or operation. Each business is unique to their insurance needs and with 20+ companies we can find a policy that is right for your business and coverage that gives you more comfort during your daily operations.
Hot shot trucking, Reefer trucking, Bobtail coverage, federal and state filings, etc. These are a few of many trucking type business, special policies, and endorsements on your trucking policy. Trucking is a very common business throughout the nation, and it is important to have an agent that can help assess the right coverage and endorsements to fit your needs.
Adding drivers for your trucking company – Finding drivers or employees in general is not always an easy task but having the right driver(s) in place can benefit your company and your insurance rate. Things to consider when hiring someone for your trucking business:
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Longevity of their CDL/experience. Having drivers employed with your company that have had their CDL for a longer period of time can help your rate.
Having drivers with a clean driving record saves you money on your insurance! It is a great practice to put in place when hiring to request a copy of their MVR from the state. The potential employee can typically obtain this from their local
Having employees can be a great asset to a business. But unfortunate events can occur where employees are injured on the job. Make sure your business has your employees properly covered and a work comp policy in place.
Title Bond, Bid Bond, Contract Bond, Payment Bond and so many other. We have great bond quotes we can provide to you for your bond needs. Give us a call and inquire about what type of bond you are needing today!
From contractor equipment to mobile tools and equipment, an inland marine policy might be for you! Protecting your commercial property that is movable and transportable is important when assessing your commercial insurance needs.
Using a vehicle for business use typically requires a commercial auto policy. Personal auto policies can offer business use, but it is limited to minimal business use and classification such as running business errands, if you are a realtor, etc. as well as the vehicle type. It is best to go over your business in detail with your agent to determine the right policy. Also, with commercial auto policies there are higher liability options such as $1,000,000 combined single limit.
Auto shops, body repair shops and similar type businesses should obtain a garage keepers policy. When a customer’s vehicle is left in your care, custody, and control for services, your shop can now become liable for that vehicle. Having the right coverage and protection for your service shop is important to protecting not only your customers but your business.
And many more! Additional policies such as professional liability, special event coverage, excess liability, etc. Call us today to discuss your commercial insurance needs!
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You may not realize that service providers may need good liability coverage just as much as manufacturers of products. If you have office space or other commercial property, we’ll help you determine what commercial insurance policy will best cover those risks as well!
Of course, as independent licensed agents, we can do that for you, quickly and easily! This is where we combine our years of industry experience and education with the many different carriers’ policies we can price and acquire on your behalf.
Our many years in Loveland and our many satisfied and long-term clients are just one of the many ways you can be sure that our friendly local staff will do everything to ensure you and your business are protected for the long haul.
How to Know What Insurance Coverage Your Business Needs
We have summarized this good advice from the Small Business Association (SBA) Community Site:
Recreational Vehicle Insurance
We can offer coverage through our companies for competitive rates. There are important coverages that should be considered when owning a motorcycle and we would love to go over those options with you.
Whether you have a boat, jet ski or yacht, we have several insurance companies that provide coverage that is tailored to watercrafts.
Riding through soft powdered snow is a peaceful experience but there can be accidents that happen. Protecting your snowmobile, liability risk and other coverages that can apply are important when you are out enjoying the snow.
UTV’s are great for off-road adventures and some states are even allowing them on road. One important factor when insuring your UTV, ATV, or dirt bike, is to make sure accessories coverage is added to the accurate amount. Aftermarket items being added to your UTV is very common and can add great value. Talk to us about your unit today and any additions you have made such as bags, light bar, etc.
Camper | Trailer
If you want physical damage coverage for your camper or trailer, we have many options for quotes. Some carriers even offer an endorsement to add personal property that is stored inside your camper/motorhome. If you unit that you are needing liability only, the vehicle pulling the camper/trailer, the vehicles liability extends to what it is pulling. That is why there are no ID cards provided for trailers and campers.
Many of us in the agency are experienced with recreational vehicles and know what is important during your adventures. Contact us today about your recreational vehicles and coverage options that fit your needs.
An umbrella policy is a helpful way to protect your assets. A standard umbrella policy starts at a $1,000,000 liability limit that goes above all your underlying policies. Umbrella policies are often reasonable in premium and great for extra protection. A great example where it could take place is in an auto accident. If you are involved in an at fault accident and the liability exceeds your auto liability limits, your umbrella liability limit of $1,000,000 can kick in. This helps avoid ligation. There are other benefits of having an umbrella policy and other increased limits to purchase above $1,000,000. Talk to us today about getting you an umbrella quote!
Bundling is a common term used in insurance commercials and in the insurance industry. Bundling is referred to as combining your policies (auto, home, etc.) with one company to potentially get a “better rate”. While bundling is more commonly considered for a multi policy discount there are other factors to take into consideration.
1) Combining with one company can give a multi policy discount, but not always. Some carriers offer minimal discount, some offer a greater discount, and some don’t offer a discount at all.
2) “Bundle” with the agency. As an independent agency, we quote multiple insurance companies to not only find you the best rate but also coverages that fit your needs. This can mean placing you with separate companies within our agency, which can be more beneficial for you overall, but you can still have us as your one local agent that all your policies are bundled through.
You may not have a flood policy unless you are in a flood zone and required by your lender. Flood policies are relatively higher in premium as the catastrophic result is costly. Although, as an independent agency, we have several companies to quote your flood policy through, even one carrier that we can potentially add it to your homeowners policy as an endorsement that is typically more reasonable in cost.