Should I get commercial insurance for my Colorado business?

Anyone that has been to the Bailey, CO area knows that it is a strong community with a good local economy. Due to this, owning a business here could be a great option. When you own a business here, there is a lot of opportunity for success. At the same time, there are some risks. One way that you can protect yourself and your business are by getting a commercial insurance policy.

Liability Protection

One reason why you should get a commercial insurance policy is that it can provide you with liability protection. A small business owner in Colorado is going to take on some liability risk at all times. To ensure that you are able to mitigate this risk, you need to have insurance coverage. This coverage will be included in your commercial insurance policy.

Protects Assets

When you get a commercial insurance policy, you are also going to receive coverage to protect your assets. A business owner needs to make sure that their assets are properly covered. If you have a commercial insurance policy, you are going to receive the coverage you need to repair or replace your assets if they are damaged or stolen. 

If you are going to start a company in Bailey, CO, and need insurance, it is important to have someone help guide your decision. Due to the complexities that come with picking commercial insurance, you should reach out to the team at the Centennial State Insurance Agency. When you speak with the team at the Centennial State Insurance Agency, you can receive the guidance and support that you need to choose a policy that is right for your business. They will evaluate all of your risks and options to ensure you receive proper support and coverage. 

Wildfire Insurance in Dillon, CO

Are you properly insured in the event an unforeseen wildfire sweeps across Dillon, CO? Regardless of the season, it is best to prepare ahead for a wildfire by putting proper insurance coverage in place.

Doug Compton, CEO of Centennial State Insurance Agency, advises in his wildfire insurance video: “If there is a fire in the area, you may not be able to make changes, additions, or take out a policy in the future.” Therefore, it is paramount to ensure you have proper homeowners insurance in place that covers rebuilding if your home is lost in the fire.

To effectively determine the anticipated cost to rebuild your home in Dillon, CO, calculate the value by a cost per square foot formula. “It’s also important to make sure that you [have] guaranteed replacement cost or extended replacement cost on [your current] policy,” Doug continues. “This is an additional amount of coverage provided by the company you’re with.”

Replacement Cost Coverage

Additionally, it is equally important to ensure that your personal property coverage contains replacement cost coverage on your policy to reimburse you for any personal items in your home lost in a fire. This coverage allows a full reimbursement to replace your items at no additional cost to you.

Separate Structures Coverage

Your separate structures are another area of concern to properly insure in the event of a wildfire. These structures may include detached garages, sheds, or other items built on your property. Doug explains, “Oftentimes, in the original policies, these are written with low [coverage] limits, but can be increased to make sure that there’s adequate coverage to replace these.”

wildfire insurance in Dillon, CO

Additional Living Expense Coverage

As it pertains to wildfire coverage, an additional special insurance coverage to look for is the additional living expense, the amount paid to you if you need to evacuate or find temporary living arrangements throughout the duration of your home rebuild. It is paramount to solidify an adequate amount of coverage for the duration of time you are out of the home.

Auto Coverage

Finally, do not leave your autos uninsured or without adequate coverage. By failing to secure comprehensive coverage on your automobiles, you risk the result of not receiving a replacement vehicle in the event of a comprehensive auto claim such as a wildfire.

Secure Your Wildfire Coverage with Centennial State Insurance Agency

If you are looking for wildfire insurance in Dillon, CO, our experts at Centennial State Insurance Agency are ready to help! As mountain specialists, we understand what is takes to insure homes properly in the mountains to make sure your home is rebuilt and you are taken care of. Contact us to compare quotes and properly insure your home, property, and auto today!