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Knowledge Center

Check out our knowledge base below for more information on frequently asked questions.

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Auto Insurance Information

Colorado State Limits

Colorado State limits for auto insurance are 25/50/15. This policy covers you for $25,000 worth of bodily injury per person with a $50,000 limit on bodily injury, if you are at fault for an accident. Along with the medical coverage you have $15,000 worth of property damage coverage. These limits leave you exposed as many accidents exceed these limits.

Split Limit Coverage

Split limit coverage sets limits per at fault accident for bodily injury and property damage. For example 100/300/100 covers $100,000 worth of bodily injury per person, $300,000 of bodily injury in total and $100,000 in property damage per accident.

Single Limit Coverage

Single limit coverage is a specific dollar amount that you are covered for and can be used for either bodily injury or property damage that you cause. For example, if you have a $200,000 single limit policy you would be covered for $200,000 worth of bodily injury or property damage.

Liability Only Coverage

Liability coverage is a minimum requirement that covers other vehicles and people if you cause an accident. If you carry liability coverage and don’t carry collision or comprehensive coverage your vehicle will not be repaired or replaced if you get into an accident that you are at fault for.

Comprehensive Coverage

Comprehensive coverage covers your vehicle from incidents that occur outside of a collision or accident. If your car is hit by a hail storm or a tree branch falls on your car, comprehensive coverage will pay for the damages after you pay your deductible. It also covers you in the case that your car is stolen or vandalized.

Collision Coverage

Collision coverage covers your vehicle if it crashes into an object, animal, rolls over or hits another vehicle. This coverage is in place to replace or repair your vehicle if it is damaged, after you pay your deductible. Collision coverage also covers your vehicle if an uninsured motorist damages your car. However, if an uninsured motorist strikes your vehicle and injures you, collision coverage won’t pay for your medical expenses.

Medical Payments Coverage

Medical payments coverage is a coverage that protects you if you are at fault for an accident. Medical payments coverage will cover injuries you sustain if you cause an accident up to your policy limits. Typically auto policy carry $5,000 worth of medical payments coverage. This coverage can be applied to your health insurance deductible.

Uninsured Motorist Coverage

Uninsured motorist coverage will cover bodily injuries you sustain if you are in an accident and the driver at fault doesn’t have insurance or is under-insured. It also helps to pay for loss of wages, up to your policy limit, if you are unable to return to work due to an accident caused by an uninsured driver.

Deductibles

Uninsured motorist coverage will cover bodily injuries you sustain if you are in an accident and the driver at fault doesn’t have insurance or is under-insured. It also helps to pay for a loss of wages, up to your policy limit, if you are unable to return to work due to an accident caused by an uninsured driver.

Home Insurance Information

Hail Coverage in Colorado

One of the most important types of coverage to understand, especially in Colorado, is what type of homeowner’s protection you have if you’re hit by a hail storm. A new roof can cost anywhere from $15,000-$30,000+ to replace. If you don’t have the proper coverage, you could be responsible for the majority of the replacement cost. The main thing to know regarding your hail coverage is if you have Actual Cash Value coverage or Replacement Cost Coverage, along with your deductible.

Roof Replacement Cost

Replacement Cost Coverage on your roof will pay for the replacement of a new roof if it is damaged by wind or hail. You will be responsible to pay your deductible, but your homeowner’s insurance policy will cover the rest of the replacement cost. For example, if you have a $2500 hail deductible and your roof has $20,000 worth of damage your policy will cover $17,500 to repair your roof.

Roof Actual Cash Value

What is Actual Cash Value Coverage regarding your homeowners insurance and how does it leave you exposed? If your home gets hit by a hail storm and you have Actual Cash Value Coverage for hail/wind damage, your policy will cover the Actual Cash Value of your roof. For example; if your roof is 15 years old and you have 30 year shingles on your roof you will only be covered for roughly 50% of the replacement cost of your roof. Keep in mind you will still need to pay your deductible on top of paying roughly 50% of the cost to replace your roof.

Dwelling Coverage

Dwelling coverage will replace your home if it is damaged or destroyed by a covered peril. The amount of coverage depends on many factors, such as square footage above ground, style of your home, upgrades that have been done, what type of foundation you have, etc. Many homeowners insurance policies have dwelling coverage that is less than what you’ve purchased your home for. The reason for this is when you purchase your home, you’re buying the land along with the home. So your dwelling coverage needs to be enough to replace only your house, not the entire property including the land.

Personal Property Coverage

Similarly to Other Structures Coverage, you have coverage up to a percentage of your total Dwelling Coverage. For personal property you typically have 50% of your total Dwelling Coverage. So if you have $250,000 worth of Dwelling Coverage you will typically have $125,000 in Personal Property Coverage. There are a few key things you need to take into consideration regarding personal property coverage.

-You should check your policy to see if you have replacement cost coverage or actual cash value coverage for you personal property.

-If you have art, jewelry or firearms make sure you add those to your policy. Typically you will have very limited coverage for these items.

-Take the time to photograph and catalog your personal property so if something does happen you are able to provide your insurer with the needed information.

Kitchen and Bathroom Upgrades

If you’ve upgraded your kitchen and bathrooms since moving into your home, you should reach out to your agent to increase the Dwelling Coverage on your homeowner’s policy. If something were to happen to your home, your insurance policy would then pay to rebuild your home including an upgraded kitchen and bath. If you don’t update your policy and something happens, your policy won’t cover your home to be rebuilt with these upgrades.

Liability Coverage

Liability Coverage can help pay for injuries that occur after an accident takes place at your house. It pays for legal defense, medical bills, lost wages, etc. If someone where to fall down your stairs or if your dog bites a guest of your home, Liability Coverage may help pay for those damages.

-If you have a potentially dangerous dog such as a Pit Bull, Rottweiler, Doberman Pinscher, make sure you inform your insurer. If one of these types of dogs bites another person, you may not be covered.

Medical Payments

Medical payments are part of your homeowners insurance policy to help resolve small claims. If someone is injured on your property, Medical Payments coverage will help pay for the injuries they sustain up to your policy limits.

Other Structures

Other Structures on your homeowners policy is to replace structures that are not attached to your home such as sheds, fences, gazebo’s, barns, etc. Most homeowners policies come with Other Structures coverage of 10% of your total dwelling coverage. You are able to increase that amount if you have a number of sheds, exterior amenities or barns on your property that would exceed the standard limit of coverage.

Umbrella Insurance Information

What is Umbrella Insurance?

Umbrella Insurance is additional liability coverage for your home and auto. If an accident were to occur and your limits of liability were exceeded, your umbrella policy would drop down to help cover additional costs. Your umbrella policy is there to protect you from large claims and lawsuits from an accident.

Like any policy you can choose different amounts of coverage. Typically umbrella policies start with $1 million in coverage and can go up to much larger sums if desired.

Limits of Liability

Your auto and homeowners policies have set limits of liability depending on the policy you have. If your limits of liability are exceed and you have an umbrella policy in place, the umbrella policy will drop down and cover additional costs. An example would be if you get into a car accident and cause $150,000 worth of bodily injuries to a person, but you only have $100,000 in coverage your umbrella policy would drop down to cover the rest.

Protecting Your Assets

If you exceed your limits of liability you could be responsible for paying the remaining balance needed to repair the damage done. This can leave your assets exposed to being seized in order to pay for the damages done. An umbrella policy covers your home, personal possessions and investments from a lawsuit.

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Libel and Slander Coverage

Libel and Slander Coverage protects you from a lawsuit due to something you may say or write that has a negative personal or financial impact on someone. Umbrella policies cover you from libel and slander lawsuits as long as you aren’t intentionally issuing false statements, you have coverage currently in place and the libel or slander lawsuit isn’t related to your business.

What's the Cost?

Umbrella Insurance ranges in cost based on the amount of coverage you select. Typically a policy will range from $150-$400 per year for coverage starting at $1 million.

Renters Insurance Information

What is Renter's Insurance?

Renter’s insurance is a policy that can cover your personal property, additional living expenses and gives you liability coverage. Each policy can be tailored to your individual needs based on the amount of personal property you have and the amount of liability coverage you’d like. Renter’s insurance is extremely affordable and when you bundle it with your auto insurance you will receive a discount.

Liability Coverage

Liability Coverage can help pay for injuries that occur after an accident takes place at your house. It pays for legal defense, medical bills, lost wages, etc. If someone where to fall down your stairs or if your dog bites a guest of your home, Liability Coverage may help pay for those damages.

-If you have a potentially dangerous dog such as a Pit Bull, Rottweiler, Doberman Pinscher, make sure you inform your insurer. If one of these types of dogs bites another person, you may not be covered.

Personal Property Coverage

If you rent, having your personal property insured is essential. With a tailored renters insurance plan you can ensure that your personal possessions covered. A few things to keep in mind:

-Take the time to photograph and catalog your personal property so if something does happen you are able to provide your insurer with the needed information.

-If you have art, jewelry or firearms make sure you add those to your policy.

-Make sure you have replacement cost coverage on your property.

Medical Payments

Medical payments are part of your homeowners’ insurance policy to help resolve small claims. If someone is injured on your property, Medical Payments coverage will help pay for the injuries they sustain up to your policy limits.

Additional Living Expenses

Additional Living Expense Coverage can help pay for a place for you to stay if the residence you are renting is damaged or becomes uninhabitable.

Motorcycle Insurance Information

Liability Coverage

Similar to auto insurance motorcycle liability coverage covers bodily injury and property damage to others if you are at fault in an accident. Colorado’s minimum liability limits are 25/50/15. If you go with these minimum limits it could be leaving you under-insured.

Custom Parts Coverage

Most motorcycle policies come with $3,000 in custom parts coverage for your bike. If you’ve added more than $3,000 in custom parts you can chose to add additional coverage for those additions at a minimal cost to you. Always be sure to check with your agent to ensure you have custom parts coverage if you’ve added anything to your motorcycle.

Collision Coverage

Collision coverage covers your motorcycle if it crashes into an object, animal, rolls over or hits another vehicle. This coverage is in place to replace or repair your vehicle if it is damaged, after you pay your deductible. Collision coverage also covers your vehicle if an uninsured motorist damages your car. However, if an uninsured motorist strikes your vehicle and injures you, collision coverage won’t pay for your medical expenses.

Comprehensive Coverage

Comprehensive coverage covers your motorcycle from incidents that occur outside of a collision or accident. If your bike is hit by a hail storm or a tree branch falls on your bike, comprehensive coverage will pay for the damages after you pay your deductible. It also covers you in the case that your motorcycle is stolen or vandalized.

Passenger Coverage

Passenger coverage depends upon what type of policy you choose and the limits of liability you have in place. Be sure to check with you agent to ensure that you have proper coverage for your passengers.

Flood Insurance Information

What is Flood Insurance?

Flood Insurance covers your home and personal property if you’re affected by flood or flash flood. Your homeowner’s policy will not cover you if flood insurance is not added to your policy.

Flood Insurance Options

There are two primary types of flood insurance, NFIP (National FLood Insurance Plan) and non NFIP (National Flood Insurance Plan) flood insurance. If your home is in a NFIP community you could potentially add flood insurance for a small additional cost. If your home is outside of a NFIP community it will cost a little more to insure your home due to the flood zone you live in. We have partnered with some of the best flood insurer’s available to find help provide you the best coverage at some of the lowest prices.

Basement Personal Property Coverage

NFIP Flood Insurance doesn’t cover your basement contents. If you’d like coverage for your basement contents you’ll need to get flood insurance outside of NFIP. 5280 Insurance has both NFIP and non NFIP flood insurance options.