Name: Avalue Insurance
Address: 7700 E Arapahoe Rd., Ste. 330, Centennial, CO, 80112
Telephone: 303-773-3332

Real-Life Lawsuits That Could’ve Been Prevented with General Liability Insurance

Posted on October 20, 2024October 20, 2024 by Emilie Hagopian

Running a business is rewarding, but it also comes with its fair share of risks. One small mishap could turn into a big legal headache, and before you know it, you’re knee-deep in a lawsuit. The good news is, with general liability insurance, you can prevent these incidents from draining your bank account. Here are some real-life lawsuits that show just how important having the right coverage can be!

1). Slip-and-Fall Mishaps

Slip-and-fall lawsuits are one of the most common claims for businesses, and one restaurant learned this the hard way. A customer slipped on a wet floor and suffered a back injury, leading to a lawsuit for $100,000. The customer sought compensation for medical expenses, lost wages, and additional costs because they couldn’t work due to the injury. Without general liability insurance, the restaurant would have been on the hook for the entire amount, plus legal fees.

2). Property Damage Fiascos

Imagine running a bustling beauty salon and everything is going great — until one of your new beauticians drops a bottle of nail polish that spills all over a customer’s pricey handbag. That’s exactly what happened to a salon that was then sued by the customer to replace the damaged property.

3). Privacy Violations

Ever shared a before-and-after photo of a project online to show off your great work? Most businesses have. But one home decor business faced an unexpected lawsuit when a client discovered that photos of their remodeled wardrobe had been shared online without permission. The client sued for invasion of privacy, leading to a hefty legal process. General liability insurance can help cover these types of claims, making sure you’re not left financially drained over a misunderstanding.

4). Product-Related Injuries

A lawn care company thought they were doing their clients a favor by selling an organic pesticide. Unfortunately, a customer accidentally inhaled the product’s vapors and suffered a severe allergic reaction. The customer sued for $100,000 in medical expenses and other damages. Product-related injuries can be devastating for small businesses, but general liability insurance would have stepped in to cover the costs and keep the business afloat.

5). Copyright Infringement Gone Wrong

It’s easy to get inspired by others, but that inspiration can sometimes cross the line. A personal trainer started calling himself “The Rocker” after a celebrity with a similar name and used a photo of that celebrity in his advertisements without permission. This led to a copyright infringement lawsuit. The trainer’s general liability insurance would cover legal fees and potential settlements in a situation like this, making sure a branding mishap doesn’t bankrupt your business.

Protect Your Business from the Unexpected

These real-life cases show that accidents, misunderstandings, and mistakes can happen to anyone, no matter how careful you are. Having general liability insurance isn’t just about following regulations — it’s about protecting your business from financial ruin when things don’t go as planned.

Not sure if you’re fully covered? Let us help! At Avalue Insurance, we specialize in helping businesses of all shapes and sizes get the coverage that they’ll need for the road ahead. Give us a call at 303-773-3332, email us at info@avalueinsurance.com, or request a consultation right here online!

In-Office or Remote? Understanding Your Insurance Needs for Both

Posted on October 7, 2024October 7, 2024 by Emilie Hagopian

The debate between remote work and in-office work has been heating up over the past few years. With more businesses shifting to hybrid or fully remote models, many are asking a crucial question: How do insurance needs differ between remote and in-office employees? Many business owners with at-home businesses believe that they don’t need as much coverage as in-office businesses if any coverage at all! And while that may be partially correct in some cases, the risk of being underinsured is pretty high. So, let’s settle the debate once and for all!

What’s the Difference in Risk?

Remote Work: When employees are working remotely, the types of risks you need to consider are vastly different. For starters, the likelihood of workplace injuries like slips and falls decreases when they’re not navigating office corridors. However, other risks take the spotlight — think cyber security breaches, misuse of company property, or even liability for employees working from a rented space.

If you have a lot of employees working from home, your insurance should address risks like:

Cyber Security Coverage: If an employee’s home Wi-Fi is hacked, sensitive company information could be compromised.

Equipment Coverage: Laptops, tablets, and monitors used at home should be covered in case of damage or theft.

General Liability: What if an employee invites a client to their home office and an accident occurs? It’s rare, but it can happen!

In-Office Work: In contrast, having employees work on-site means you need to focus more on traditional office-related coverage, such as:

Workers’ Compensation: If someone slips on a freshly mopped floor or sustains an injury in the office kitchen, you’ll need coverage to handle those claims.

Property Insurance: This covers office equipment, furniture, and the space itself in case of fire, theft, or other damage.

General Liability Insurance: General liability protects your business from third-party claims like bodily injury or property damage that might occur on your premises. For example, if a client trips in the lobby, your insurance covers their medical costs.

Are Remote Workers Covered Under Standard Business Insurance?

One of the big questions businesses ask is whether traditional business insurance policies extend to remote employees. The answer is: it depends! Standard policies may not cover equipment and activities that take place outside the designated business premises. So, if your team is working remotely, it’s a good idea to review your coverage with your insurance provider and explore add-ons or separate policies tailored to remote work needs.

Hybrid Work: A Happy Medium, or Twice the Headache?

Hybrid work models mean employees split time between home and the office, which can complicate things a bit. You’ll need to ensure that both environments are adequately covered. This might include expanding your existing business policy to protect equipment at multiple locations or adding extra liability coverage for home-based operations.

So, What’s the Verdict?

Whether you’re running a fully remote, in-office, or hybrid team, understanding the unique insurance needs of each environment is crucial. Regularly reviewing and updating your policies will ensure you’re not caught off guard. And remember, just like choosing between office- and home-brewed coffee, there’s no one-size-fits-all answer — only the best option for your unique setup!

Need help finding the right coverage? We can help with that! Reach out to Avalue Insurance today, and let us help you find a solution that works best for you and your business!

Home Insurance Horror Stories and How to Avoid Them

Posted on October 4, 2024October 4, 2024 by Emilie Hagopian

Home insurance isn’t just about peace of mind; it’s about protection. But sometimes, even with insurance, things can go awry in ways you’d never imagine. And with spooky season right around the corner, we figured now would be the perfect time to tell you these home insurance horror stories. Let’s take a look at a few tales of woe that might make you double-check your policies!

The “Where’s My Coverage?” Conundrum

A homeowner discovers a small leak under the sink. No big deal, right? They toss a towel down and forget about it. A few weeks later, that little leak has turned into a moldy nightmare that’s spread to several rooms. When they filed a claim, they were met with a harsh reality: their policy didn’t cover the mold damage because it’s considered a result of neglect. Without mold insurance or regular maintenance, they were on the hook for thousands in repairs.

Avoid the nightmare: Regularly inspect your home for issues, and if you notice something small, fix it immediately! Consider adding extra coverage for things like mold or water damage to avoid being blindsided later.

The “I Didn’t Think That Would Be a Problem” Panic

Another homeowner had a unique collection of rare instruments — violins, pianos, you name it. A freak storm hit and the room where the instruments were kept flooded. Turns out, the homeowner’s policy only covered up to a certain amount for personal belongings, and these high-value items needed to be individually scheduled on the policy. In the end, the insurance payout didn’t come close to covering the cost of the collection.

Avoid the nightmare: If you have valuable items, such as artwork, collectibles, or heirlooms, talk to your insurance agent about adding a rider to your policy to ensure they’re properly covered.

The “Oops, I Didn’t Read the Fine Print” Frustration

This story involves a couple who went all out renovating their home. They were thrilled with the results until an accidental fire destroyed half the kitchen. When they filed the claim, they learned their coverage amount hadn’t been adjusted to account for the increased value of the renovations. As a result, the payout wasn’t enough to restore the space to its former glory. All their hard work — and a significant amount of their savings — went up in smoke.

Avoid the nightmare: Always update your policy when you make major changes to your home, whether it’s a kitchen remodel or adding a deck. That way, your insurance keeps pace with the value of your property.

Speak with a Local Insurance Professional About Your Policies Today

Don’t let the fine print scare you. Let’s review your policy and make sure you’re fully covered before the unexpected happens! At Avalue Insurance, we make it easy to get all the coverage you need at a price you can afford. Contact us today to schedule a policy review or to discuss additional coverage options!

Insurance Tips for First-Time Homebuyers

Posted on August 25, 2024August 25, 2024 by Emilie Hagopian

What You Need to Know Before You Buy

So, you’re buying your first home. Congratulations! This is a huge milestone, and you’re probably feeling a mix of excitement and stress. From picking out the perfect paint colors to figuring out where to put the couch, there’s a lot to think about. But before you start decorating, there’s one important thing you need to check off your list: home insurance.

If you’re scratching your head thinking, “Where do I even begin,” then don’t worry. You’re not alone. Many first-time buyers aren’t sure where to begin with home insurance. That’s why we’re here to break it down for you! Here’s everything you need to know about home insurance.

What Does Home Insurance Actually Cover?

Think of home insurance as your protection against those worst-case-scenarios — like if your roof springs a leak, a fire breaks out, or your belongings are stolen. Here’s a quick rundown of what a typical policy covers:

Dwelling Coverage: This protects the actual structure of your home—walls, roof, floors, etc. If a covered disaster like a fire or storm damages your house, your insurance helps pay for repairs.
Personal Property: All the stuff inside your house—furniture, electronics, clothing—falls under personal property coverage. If your things are stolen or damaged, your insurance helps replace them.
Liability Protection: If someone gets hurt on your property (say your neighbor trips on a loose step), liability coverage can help pay for their medical expenses and protect you if they sue.
Additional Living Expenses: If your home is unlivable due to a covered disaster, this coverage helps pay for temporary housing and other costs while repairs are being made.

Why Do You Need Home Insurance?

Besides giving you peace of mind, most mortgage lenders actually require you to have home insurance before they’ll approve your loan. So, it’s not just a good idea; it’s a must. Plus, having the right coverage means you won’t be left footing a hefty bill if something unexpected happens. Trust us, you don’t want to be stuck paying for a new roof out of pocket!

Tips for Choosing the Right Home Insurance

Now that you know why home insurance is so important, here are a few tips to help you choose the right policy:

Shop Around: Don’t just settle for the first quote you get. Compare policies from different companies to find the best coverage at the best price.
Know What You Need: Consider the value of your home and belongings, as well as the risks in your area (like flooding or earthquakes), to determine how much coverage you need.
Understand Your Policy: Make sure you know what’s covered—and what’s not. Ask questions if anything isn’t clear, so there are no surprises later.
Bundle Your Insurance: Many companies offer discounts if you bundle your home insurance with other policies, like auto insurance. It’s a great way to save some cash!
Review Your Policy Annually: Your insurance needs can change over time, so it’s a good idea to review your policy every year to make sure you’re still adequately covered.

Ready to Protect Your New Home?

Buying a home is one of the biggest investments you’ll ever make, so it’s worth taking the time to protect it with the right insurance. Whether you’re just starting your home search or you’ve already picked up the keys, Avalue Insurance is here to help you find the perfect policy for your new home.

Give us a call today at 303-773-3332, or request a call-back right here online! We’re all about making home insurance easy so you can get back to what really matters: enjoying your new home!

The Best Coverage for Road Tips

Posted on August 12, 2024August 12, 2024 by Emilie Hagopian

Ensuring a Safe and Insured Adventure

Ah, the open road! There’s nothing quite like the feeling of freedom that comes with hitting the highway for a summer road trip. Before the autumn leaves start falling, it’s time to pack your bags, fill up the gas tank, and, most importantly, make sure your insurance is ready to roll with you. Let’s dive into the types of auto insurance coverage you’ll need to enjoy a great summer road trip without turning it into a comedy of errors.

General Liability Coverage: A Road Trip Essential

First things first, let’s talk about general liability coverage. This is the backbone of your auto insurance policy, covering you if you’re responsible for causing injury to others or damaging someone else’s property. Think of it as your safety net for those “Oops, I didn’t see that stop sign” moments. It keeps your wallet intact while you keep your eyes on the road and your hands on the wheel.

Collision Coverage: When Bumps in the Road Aren’t Metaphorical

Next up is collision coverage. Picture this: you decide to make a pit stop when suddenly, a rogue shopping cart comes out of nowhere. Boom! Collision coverage helps pay for the damages to your car, whether you hit another vehicle (or that shopping cart had a mind of its own).

Theft Coverage: Keeping Your Ride Secure

As you travel through different states and towns, you’ll want to ensure your car is protected from any native thieves. Theft coverage will cover the costs if your vehicle is stolen. So, lock your doors, hide your valuables, and sleep soundly knowing that your theft coverage will you’re your back.

Coverage for Animal Damage: When Wildlife Gets a Little Too Friendly

Speaking of unexpected encounters, what if Bambi decides to introduce himself to your front bumper? Animal damage coverage has you covered for any wildlife encounters that go beyond a friendly wave. From deer to raccoons, this coverage ensures you’re not left footing the bill after an unplanned wildlife meet-and-greet.

Roadside Assistance: Your Road Trip Savior

Flat tire? Dead battery? Run out of gas in the middle of nowhere? Roadside assistance can help. With a simple call, help is on the way, ensuring you’re back on the road faster than you can say “roadside rescue.”

Underinsured/Uninsured Motorist Insurance: Protection Against the Unprepared

You’d be surprised how many motorists are underinsured, or even completely uninsured! Trust us: the last thing you want to deal with on a road trip is an unexpected hit-and-run and out-of-pocket expenses. Underinsured/uninsured motorist insurance protects you when someone without enough coverage (or any at all) crashes into you. You’ll be fully covered, even if the other driver was not.

Rental Reimbursement Policies: Keep the Adventure Rolling

If your car needs repairs due to a covered loss, rental reimbursement ensures you’re not stuck on the side of the road watching the fun drive by. This coverage helps pay for a rental car while yours is in the shop, so you can keep the adventure rolling without missing a beat.

Ready, Set, Road Trip!

Before you embark on your summer adventure, make sure your insurance is ready for every twist and turn. From protecting against wildlife and rogue shopping carts to roadside assistance for those unexpected circumstances, these coverage options will keep your road trip smooth and stress-free.

At Avalue Insurance, we’re here to help you find the perfect coverage for your summer adventures. We’ll make sure your road trips are fun, full of memories, and mostly importantly, fully insured. Contact us today to get started! You can give us a call at 303-773-3332, email us at info@avalueinsurance.com, or request a call-back right here online!

Fictional Characters and the Insurance They Would Need

Posted on August 1, 2024August 1, 2024 by Emilie Hagopian

Have you ever wondered what kind of insurance coverage your favorite fictional characters would need? After all, fictional characters tend to lead some pretty exciting lives! So what would it take to cover the damages of characters like Tony Stark, Marty McFly, and (dare I say) Michael Scott? Let’s talk about it!

Restaurant Insurance for Monica Geller

Monica Geller from Friends would need top-notch restaurant insurance for her dream bistro. This policy would cover everything from property damage to liability in case a customer has a not-so-friendly encounter with one of her experimental dishes. Avalue Insurance could also provide business interruption insurance, ensuring Monica’s restaurant stays afloat if she ever needs to close temporarily. Plus, she’d get peace of mind knowing her prized kitchen equipment is protected.

Cyber Insurance for Tony Stark

Tony Stark, aka Iron Man, is a tech genius with countless inventions and a massive tech company. With great technology comes great responsibility – and risk. Tony would definitely need cyber insurance to protect against data breaches, hacking attempts, and other cyber threats that could jeopardize Stark Industries. This coverage would help him protect his intellectual property and keep his advanced tech safe from cyber villains.

Business Insurance for Leslie Knope

Leslie Knope from Parks and Recreation is the ultimate government employee, but let’s imagine she starts her own nonprofit organization. Leslie would need business insurance to cover liability issues, property damage, and any potential lawsuits. This way, she can focus on making Pawnee a better place without worrying about unexpected setbacks.

Auto Insurance for Marty McFly

Marty McFly’s DeLorean is no ordinary car, so standard auto insurance just wouldn’t cut it. With time travel capabilities, he’d need a custom auto insurance policy covering everything from high-speed chases to potential damage from 1955 lightning strikes. Flux capacitor coverage? Absolutely!

General Liability Insurance for Michael Scott

Michael Scott from The Office is always up to some kind of shenanigan that could easily result in a lawsuit. General liability insurance would be perfect for Dunder Mifflin’s Scranton branch, covering any potential legal issues arising from Michael’s well-meaning but often misguided actions. This would help protect the company from financial losses and keep the office running smoothly.

Need Insurance Help? Call Us!

Just like these fictional characters, real life can be unpredictable. But having the right insurance coverage can make all the difference. At Avalue Insurance, we’re here to help you find the perfect policies to fit your needs. Whether it’s home, auto, business, or any other type of insurance, we’ve got you covered. Contact us today to learn more about how we can help protect you and your loved ones from life’s unexpected twists and turns!

9 Surprising Things You Didn’t Know Were Insurable

Posted on July 19, 2024July 19, 2024 by Emilie Hagopian

When you think about insurance, the usual suspects come to mind: cars, homes, health, maybe even your smartphone. But did you know there are some pretty surprising things out there that people have taken out insurance policies for? Yep, insurance isn’t just for the obvious stuff. Here are some of the most unexpected and quirky things people have insured.

1). Celebrity Body Parts

This one might sound bizarre, but it’s true! Celebrities often insure their body parts. Take, for example, soccer legend David Beckham, who insured his legs for a whopping $195 million. Then there’s singer Mariah Carey, who insured her vocal cords for $35 million and even her legs for another $35 million. It’s all about protecting what brings in the big bucks!

2). Taste Buds

Top food critics and wine tasters sometimes insure their taste buds. It’s their livelihood, after all. Insurance for a professional taster’s taste buds can run into the millions. Imagine the stress of losing the ability to taste when your career depends on it!

3). Fantasy Football

For the die-hard fantasy football fans, there’s insurance to cover the cost of their league fees if a star player gets injured. This can save you from financial heartbreak if your number one draft pick goes down in the first game of the season.

4). Lottery Wins

Some companies take out insurance policies to cover lottery wins in employee syndicates. This way, if a group of employees hits the jackpot and decides to quit, the company isn’t left in the lurch trying to replace everyone at once.

5). Beards and Mustaches

A beard insurance policy might sound like a joke, but it’s a real thing. For example, members of the facial hair club might insure their prized beards and mustaches. And it’s not just for looks; professional Santa Clauses and actors whose roles depend on their facial hair might also insure their whiskers.

6). Weddings

Of course, we all know that weddings can be expensive, but did you know you can insure the entire event? Wedding insurance can cover everything from a ruined dress to a no-show vendor, or even if the bride or groom gets cold feet and cancels the big day. It’s all about making sure your special day doesn’t turn into a financial nightmare.

7). Hole-in-One

Golf tournaments often offer big prizes for a hole-in-one. The sponsors of these prizes don’t want to foot the bill themselves, so they take out insurance policies. That way, if someone does get that perfect shot, the insurance company covers the cost of the prize, whether it’s a luxury car or a cash prize.

8). Voices

If you’re a professional voice artist, singer, or even a public speaker, insuring your voice is a smart move. It’s the same concept as athletes insuring their legs. If something happens to your vocal cords, insurance can provide financial support while you recover.

9). Espresso Machines

This one might seem a little mundane compared to beards and lottery wins, but high-end coffee shops often insure their espresso machines. These machines can be incredibly expensive, and any downtime can mean lost revenue.

Ready to Cover Your Bases?

Insurance isn’t just for the standard stuff; there’s a policy for almost anything you can think of. So, if you have something unique or valuable that you want to protect, it might be worth looking into some unexpected insurance options.

At Avalue Insurance, we offer a wide variety of insurance policies. From life insurance to business insurance, we’ve got you covered. And while we can’t insure your prized beard or your fantasy football team, we can help you protect the things that matter most to you and your family! Contact us today to explore your insurance options!

Do New Parents Need Life Insurance?

Posted on July 12, 2024July 12, 2024 by Emilie Hagopian

It’s Never Too Early to Start Planning for Your Baby’s Future!

First off, congratulations on the newest addition to your family! As you navigate the sleepless nights, endless diaper changes, and countless baby giggles, there’s something else you might need to think about: life insurance. And while it doesn’t sound nearly as exciting as picking out cute onesies or planning the first birthday party, it could be one of the most important decisions you’ll ever make for your baby’s future. And hey, it’s never too early to start planning for their future, right?

So, let’s talk about why new parents need life insurance and how you can get started right away. And don’t worry; it’s quick and easy, so you’ll be finished before the baby wakes up!

Why New Parents Need Life Insurance

Becoming a parent changes everything. Suddenly, you’re responsible for this tiny human, and you want to make sure that they’re taken care of no matter what. That’s where life insurance comes in. Here are a few reasons why it’s crucial for new parents:

Financial Security for Your Child: In the unfortunate event that something happens to you, life insurance can provide financial support for your child’s upbringing, education, and other needs.
Covering Outstanding Debts: The last thing you would want to do is leave your baby with debt! If you have a mortgage, car loan, or other debts, life insurance can help cover these costs so your family isn’t burdened.
Replacing Lost Income: If you’re the primary breadwinner, life insurance can replace your income, ensuring your family maintains their standard of living.
Support for a Stay-at-Home Parent: If one parent stays home to care for the baby, losing the working parent’s income could be extremely challenging. In the event that the working parent dies, life insurance can provide financial support, allowing the stay-at-home parent to continue providing care without needing to rush back to work. This also works in reverse, too; if the stay-at-home parent dies, then life insurance will rush in to help support the working parent, covering childcare costs and various other expenses.
Ensuring Your Child’s Future Financial Needs: In some cases, life insurance can help with setting up funds for your child’s future needs, such as starting a business, college tuition, or any other significant life events. This provides a cushion that can support them in achieving their dreams.
Peace of Mind: Knowing that your baby will be taken care of can give you peace of mind, allowing you to focus on the joy of raising your child.

How to Choose the Right Life Insurance Policy

Okay, so you’re convinced that life insurance is a must. But how do you choose the right policy? Here are some tips to help you out:

Determine How Much Coverage You Need: Consider your financial obligations and how much money your family would need to maintain their lifestyle. A good rule of thumb is to aim for a policy that’s 10-12 times your annual income.
Choose Between Term and Permanent Life Insurance: Term life insurance covers you for a specific period (like 20 or 30 years) and is usually more affordable. Permanent life insurance, on the other hand, covers you for your entire life and has a cash value component.
Consider Your Budget: Look for a policy that provides adequate coverage without straining your budget. Remember, the best policy is one you can afford to keep.
Look at the Fine Print: Pay attention to the policy details, including exclusions, riders (additional benefits), and renewal options.
Talk to a Trusted Professional: Speak with an insurance agent you can trust. They’ll help you navigate your options and find a policy that fits your needs.

Let’s Make It Easy

Trust us, we get it. Life insurance can be a bit overwhelming, especially when you’re juggling the demands of a new baby. That’s why we’re here to help. At Avalue Insurance, we understand the unique needs of new parents, and we’re committed to making the process as smooth as possible.

Ready to take the plunge? Contact Avalue Insurance today to claim your personalized life insurance consultation! Our friendly agents are here to answer all your questions and help you find the perfect policy to protect your family’s future. Don’t wait! Secure your baby’s future today! Give us a call at 303-773-3332, or request a call-back!

Top 10 Mistakes to Avoid When Buying Commercial Auto Insurance

Posted on July 8, 2024July 8, 2024 by Emilie Hagopian

KEY TAKEAWAYS:

Here are the top mistakes that people make when buying commercial auto insurance:
- Underestimating Coverage Needs
- Not Including All Drivers
- Ignoring Vehicle Types and Uses
- Choosing the Wrong Deductible
- Overlooking Additional Coverage Options
- Failing to Review Policies Regularly
- Neglecting Employee Training
- Not Shopping Around
- Ignoring the Fine Print
- Skipping Professional Advice

Commercial auto insurance is crucial for any business that relies on vehicles. Whether it’s a delivery service, a construction company, or a delivery business, your company vehicles deserve the best possible coverage. But navigating the world of commercial auto insurance can be tricky, and many business owners make avoidable mistakes that can cost them dearly in the long run. Here are some common pitfalls and how to avoid them when you’re insurance-shopping.

10 Mistakes People Make When Shopping for Commercial Auto Insurance

1). Underestimating Coverage Needs

One of the biggest mistakes people make is underestimating how much coverage you actually need. Many business owners opt for the minimum coverage required by law, thinking it will save them money. But this can actually leave you vulnerable to significant out-of-pocket expenses if an accident occurs. It’s crucial to evaluate your specific risks and ensure your policy covers all potential scenarios, including liability, property damage, and medical costs.

2). Not Including All Drivers

Another common mistake is not listing all the drivers who will be using the insured vehicles. Insurance companies need to know who will be driving the vehicles to assess the risk accurately. Failing to include all drivers can result in denied claims if an unlisted driver gets into an accident. Make sure you provide a comprehensive list of all employees who might drive the company vehicles, even if they only do so occasionally.

3). Ignoring Vehicle Types and Uses

Commercial auto insurance policies can vary significantly based on the type of vehicles you have and how they are used. A policy that’s perfect for a fleet of delivery vans might not be suitable for a construction company with heavy trucks. Be upfront about how each vehicle is used and ensure your policy is tailored to these specifics.

4). Choosing the Wrong Deductible

Selecting the right deductible is a balancing act. A higher deductible can lower your premiums but may require you to pay more out of pocket in the event of a claim. And a lower deductible can increase your premium but reduces your out-of-pocket expenses. Consider your financial situation and risk tolerance carefully when choosing a deductible.

5). Overlooking Additional Coverage Options

Basic commercial auto insurance policies cover liability, collision, and comprehensive damage, but there are many additional coverage options that can provide extra protection. For instance, uninsured/underinsured motorist coverage, roadside assistance, and rental reimbursement can be invaluable. Evaluate these add-ons and consider which ones make sense for your business. Skipping these options to save on premiums might leave you regretting it when an unexpected event occurs.

6). Failing to Review Policies Regularly

Business needs change over time, and so should your insurance policy. A common mistake is purchasing a commercial auto insurance policy and then neglecting to review it regularly. As your business grows or changes, your insurance needs will evolve. Schedule annual reviews of your policy with your insurance agent to ensure it still provides adequate coverage and adjust as necessary.

7). Neglecting Employee Training

Your drivers’ skills and behaviors have a direct impact on your insurance premiums and claims history. Neglecting to provide adequate training for your employees can lead to accidents and increased insurance costs. Implement a comprehensive driver training program to ensure all employees understand safe driving practices. This not only helps in reducing the likelihood of accidents but can also positively affect your insurance rates.

8). Not Shopping Around

Loyalty to a single insurance provider might seem convenient, but it can prevent you from finding the best rates and coverage options. The commercial auto insurance market is competitive, and rates can vary significantly between providers. Take the time to shop around and compare quotes from different insurers. This doesn’t mean you have to switch providers every year, but regularly comparing options can ensure you’re getting the best deal.

9). Ignoring the Fine Print

Insurance policies are filled with fine print that can be easily overlooked. But ignoring these details can lead to misunderstandings about what is and isn’t covered. Take the time to read through your policy thoroughly and ask your insurance agent to explain any confusing terms or conditions. Understanding the fine print will help you avoid surprises when you need to file a claim.

10). Skipping Professional Advice

One of the biggest mistakes is trying to navigate commercial auto insurance without professional advice. Insurance agents and brokers specialize in different policies and can provide some much-needed guidance.

Ready to start shopping for commercial auto insurance with a seasoned professional? Contact Avalue Insurance today! We’ll help you find the right policy at the right price. Give us a call today at 303-773-3332 or request a call-back right here online!

Liability Coverage: The Most Important Piece of Your Home Insurance Policy

Posted on June 17, 2024June 17, 2024 by Emilie Hagopian

Let’s chat about something important that often gets overlooked when shopping for home insurance: liability coverage. It may not the flashiest part of your policy, but it’s a pretty big deal. In fact, too many homeowners fall prey to the cheaper home insurance policies, leaving them underinsured and under-protected. Trust me: the last thing you’ll want to skimp on is liability coverage!

So, what exactly is liability coverage and why is it so important? Let’s talk about it!

What is Liability Coverage?

Think of liability coverage as one of those things that you’ll hope you never need, but you’ll be glad it’s there when you do inevitably need it. It kicks in to cover your legal fees in the event that someone tries to sue you for an unforeseen event that took place on your property.

Imagine a friend slipping on your icy driveway and breaking their tailbone. Or your puppy getting a bit too excited and accidentally biting one of your guests. Liability coverage can help cover the costs of medical bills or legal fees, saving you from a massive mountain of unanticipated out-of-pocket fees.

Why Do You Need It?

Well, accidents happen, right? And sometimes, they can lead to unexpected expenses. Liability coverage not only protects your savings and assets but also gives you peace of mind knowing you’re financially covered if the unexpected occurs.

What Does It Cover?

Liability coverage typically includes legal fees and medical expenses if someone sues you for an accident that happened on your property. It can also sometimes extend to incidents that happen away from your home, like you accidentally damaging someone else’s property.

You Might Already Have It, But…

Many standard home insurance policies include liability coverage, but sometimes, not enough. So, it’s extremely important to check the coverage details of your home insurance policy. Typical coverage amounts can vary, so it’s worth reviewing your policy to ensure you have adequate protection based on your lifestyle and assets.

How Much Coverage Do You Need?

Every homeowner’s situation is different, so it’s important to assess your risks and talk to an insurance expert to determine the right amount of liability coverage for you. They’ll help you understand what’s needed and customize a policy that fits your needs and budget.

Get Fully Covered with Avalue Insurance

Ready to make sure you’ve got the right protection in place? Contact Avalue Insurance today! Our team can walk you through the ins and outs of liability coverage and help you find a policy that gives you the peace of mind you deserve. We can even help you determine if you currently have enough liability protection in your current home insurance policy. Because your protection and peace-of-mind are our top priority.

Remember: accidents happen, but with the right coverage, you can rest easy knowing you’re prepared for whatever life throws your way. Stay safe and covered, folks!

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