Builders Risk Insurance

Builders risk insurance may help provide coverage for buildings under construction. This specialized coverage, also called course of construction insurance, can provide the backbone of your risk management program.

Who Needs Builders Risk Insurance?

Companies and individuals with a financial interest in a construction project often rely on builders risk insurance to help protect structures and buildings under construction. A builders risk policy may help financially protect materials and supplies, equipment in transit or on-site, and the structures being built.

Insured entities may include the following:

Lenders
Architects
Subcontractors
Property owners
General contractors

What Coverage Does Builders Risk Insurance Provide?

Builders risk coverage may help protect a construction project from specific types of property damage. It may also help cover certain expenses not directly related to the construction project when property damage causes delays, including the following:

Real estate taxes
Additional loan interest
Lost sales
Rental income

It’s crucial to consider the risks and exposures of your project at each phase of construction. Depending on your needs, your agent may recommend that you purchase broad protection, or they may customize your policy for specific risks.

Builders risk coverage is typically temporary, so your agent will help you understand when your coverage begins and ends. Your policy may provide coverage until one of the following:

The policy expires or is canceled.
The building is put to use.
The building is occupied.

Typical builders risk insurance policies may include exclusions for wear and tear, mechanical breakdowns, damage due to faulty design, and employee theft. Talk with your agent to understand exactly how your coverage works.

How to Find the Right Builders Risk Insurance Policy

Working with an experienced agent to find appropriate builders risk insurance is essential to get the coverage you need at a great rate.

Workers’ Compensation Insurance

Accidents happen in the workplace, no matter what precautions you have in place. Workers’ compensation insurance is designed to help cover the costs associated with a work-related injury or illness. We’re here to help you sort through business insurance, including workers’ compensation insurance benefits. Contact us today to get started.

What Is Workers’ Compensation Insurance?

Workers’ compensation insurance is a type of business insurance policy that provides benefits to employees if they suffer work-related illnesses or injuries. Workers’ compensation benefits typically include coverage for paying for medical care and lost wages from time missed from work.

Employers also benefit from workers’ compensation insurance, as it can help protect your business from lawsuits and keep it compliant with state regulations.

What Are Workers’ Compensation Benefits?

Workers’ compensation may provide various benefits to employees who experience an injury or illness, including:

Medical benefits—Employees may receive compensation to cover doctor appointments, hospital visits and medications.
Wage-loss benefits—If an employee cannot return to work at total capacity, wage-loss benefits may help them supplement their lost income. This benefit may last until the employee has recovered or until the wage-loss benefit limit has been reached.
Vocational rehabilitation benefits—Employees may receive access to vocational rehab services to help them learn new skills and reenter the workforce after an injury.
Death/dependent benefits—If an employee loses their life because of a work-related injury or illness, workers’ compensation may help cover funeral costs and lost income. These benefits are typically provided to the spouse or dependents of the deceased.

Worker’s compensation laws vary by state, which may impact the limits and duration of benefits and the type of employers required to have it. Reach out to an agent to discuss specific requirements for your business.

How to Get Workers’ Compensation

We’re ready to help you secure workers’ compensation coverage for your business. Contact Insurance Advisors today for more information or a quote.

Homeowners Insurance in Parker, CO

A standard homeowners insurance policy insures the home itself and the things you keep inside. By having homeowners insurance, you can financially protect yourself if there’s an accident. Contact our agency today to learn more about homeowners insurance or to get a no-obligation quote.

What Is Homeowners Insurance?

Home insurance is a package policy, which means that it covers damage to your property after a covered loss and your liability or legal responsibility for any injuries and property damage you or members of your family cause to other people. There are usually additional coverages or endorsements, also called riders, that you can add to the standard coverages provided by home insurance to ensure adequate protection.

Do I Need Homeowners Insurance?

While purchasing a home insurance policy may not be mandated by the federal, state or local government, your lender may require proof of home insurance if you have a mortgage. Carrying appropriate homeowners insurance is always a good idea as the policy can help financially protect you if you experience a covered accident or other loss. Without home insurance, you may be left to cover the replacement or repair costs on your own following an incident.

How to Get Homeowners Insurance

If you need a homeowners insurance policy or want to evaluate whether the coverage you have is adequate, we’re here to help. Give Insurance Advisors a call today to get started or request your free quote now.

Motorcycle Insurance

If you own or drive a motorcycle, purchasing motorcycle insurance may be required, depending on where you live. Additionally, having the right motorcycle insurance policy can help protect you financially if you’re involved in an accident or your bike is stolen or damaged. Contact us today to learn more about motorcycle insurance or get a quote.

What Is Covered Under Motorcycle Insurance?

The coverage provided by your motorcycle insurance may vary based on what’s included in your specific policy. Some aspects that may be covered under a policy can include:

Liability protections (e.g., bodily injury and property damage liability) for injuries or damages you may cause to someone else while riding your motorcycle
Additional protections to you if you’re injured or your motorcycle is damaged in an accident with an uninsured or underinsured motorist
Property damage to your motorcycle caused by a collision with another object
Property damage to your motorcycle caused by vandalism, fire, theft or other covered losses
Roadside assistance
Towing
Trip interruption expenses
Additional or specialized equipment

Contact our agency today to learn more about the protections that may be available to you.

Why Do You Need Motorcycle Insurance?

Depending on where you live, motorcycle insurance may be required by state law. What’s more, if you’ve financed your motorcycle, your lender may require you to carry minimum coverage amounts. Beyond these requirements, having adequate motorcycle insurance can help protect you financially if you’re in an accident or your bike is damaged or stolen. Without insurance, you may have to pay for all incurred expenses out-of-pocket.

How To Get Motorcycle Insurance

If you need a motorcycle insurance policy, we’re here to help. Call Insurance Advisors to discuss your motorcycle insurance needs and get a quote for a policy that’s right for you.

Renters Insurance

Renters insurance can provide you with needed financial protection against adverse circumstances, whether it’s covering your personal belongings in case of damage or ensuring you’re protected if someone is injured in your residence. If you need renters insurance, we’re here to help. Contact us today to learn more about your renters insurance options or to get a quote.

What Is Renters Insurance?

Renters insurance provides protection against property loss and liability if you cause injury or property damage. To learn more about what that means, we’ve covered some basics about each.

Property protection—Renters insurance covers your possessions against damage for things such as fire, smoke, lightning, vandalism, theft and water damage—but not flooding—to name a few. It also extends beyond on-premise theft and hazards, covering property that is stolen from your car or lost or damaged anywhere you happen to be. Talk to your agent today to learn more additional property protection options, such as flood and earthquake insurance and scheduled items riders.
Liability protection— The liability portion of a renters insurance policy helps protect against claims of third-party bodily injury or property damage caused by you or another person listed as insured on your policy. It may also help pay for medical bills if someone has an injury in your rental. Liability also provides coverage for legal defense costs and judgments in a lawsuit, whether the incident occurred within your rented residence, or elsewhere.

Some renters insurance policies pay a tenant’s temporary living costs if they need to live elsewhere because of a fire, severe storm or other covered disaster. This coverage may include hotel bills, temporary rentals, restaurant meals and other living expenses. Talk with your insurer about whether your renters insurance has this inclusion.

How to Get Renters Insurance

Whether you call a rented house, condo or apartment your home, you can benefit from renters insurance. Call us today to learn more about renters insurance or to get a no-obligation quote.

Recreational Vehicle Insurance

If you have any type of recreational vehicle, including a motorcycle, RV, boat, or off-road vehicle (e.g., all-terrain vehicle (ATC) or snowmobile), you’ll need to secure additional insurance to properly protect your investment. Determining what and how much coverage you need can be tricky, but that’s why we’re here to help. Contact us today to get started.

What Is Recreational Vehicle Insurance?

Recreational vehicle insurance is a general term that refers to a variety of policies used to insure vehicles such as boats, motorcycles, RVs, ATVs and travel trailers. Each policy provides unique coverage. Talk to your agent today to discuss specific coverage you may need for your recreational vehicle.

What Does Recreational Vehicle Insurance Cover?

Recreational vehicle insurance helps provide a layer of protection against liability and property damages. Recreational vehicle insurance varies based on the type of vehicle you have. Talk to your agent to learn more about targeted coverage for:

Boat and watercraft
Off-road vehicles (e.g., ATVs, golf carts, and snowmobiles)
Campers
Coaches
Motor homes
Travel trailers

Is Recreational Vehicle Insurance Required?

Depending on the type of recreational vehicle you own and where you live, you may be legally required to obtain insurance for your vehicle. For example, most RV and motorcycle owners must secure at least the minimum auto insurance required of all drivers in their state of residence.

How to Get Recreational Vehicle Insurance

If you’re in need of a recreational vehicle insurance policy, we’re here to help. Contact Insurance Advisors today to learn more or receive a free quote.

Errors and Omissions Insurance

Errors and omissions insurance, which is also called E&O insurance and professional liability insurance, can help protect businesses from third-party claims or lawsuits because of alleged mistakes. If your business needs an E&O policy, we’re here to help. Contact our agency today to discuss your professional liability insurance needs and to get a quote.

What Does E&O Insurance Cover?

E&O insurance typically provides coverage if a party sues your business, claiming they suffered a financial loss because of your business’s actions. Common reasons for claims include the following:

Mistakes or errors
Negligence
Oversights or omissions
Inadequate work
Incorrect advice
Misrepresentations

Having E&O insurance may reduce your business’s out-of-pocket costs by paying for the associated legal expenses of these claims (e.g., court costs, settlement and judgments)—even if the claim is dropped.

Speak with us today for details regarding coverages, limits and exclusions (e.g., illegal acts or intentional wrongdoing). We can help ensure you are securing the optimal E&O insurance policy.

Who Needs E&O Insurance?

E&O insurance may be available for businesses or professionals that provide services or advice, including:

Insurance agents
Real estate agents
Architects
Financial advisors
Accountants
Engineers
IT consultants

For some professionals, E&O insurance may be mandated by law. Additionally, it may help attract or retain clients as some may require proof of coverage before working with your business.

How to Get E&O Insurance

Contact Insurance Advisors today to learn more about your professional liability coverage options.

Flood Insurance

If you live in a flood-prone area, your home faces a substantial risk of property damage due to flooding. And while standard home insurance might provide coverage for household water damage resulting from a burst pipe or similar incident, your home insurance won’t cover damage caused by floods. Depending on your home’s location, your need for flood insurance could be significant. Contact our agency today to discuss your flood insurance needs.

What Are My Flood Insurance Options?

The National Flood Insurance Program (NFIP) underwrites most flood insurance. If your community participates in the NFIP, you may be able to purchase an NFIP plan. Usually, you can buy NFIP plans through a major insurer or the NFIP Direct system.

NFIP plans must comply with federally established standards. There are two types of coverage: structure insurance, which protects your house, and contents coverage, which insures your possessions. There may also be coverage for debris removal costs, loss avoidance and cost of compliance.

You may be able to receive compensation for your losses and reduce your flood recovery costs by filing a claim on your flood insurance plan. Flood insurance doesn’t usually take effect until 30 days after purchase. However, if your lender requires that you have flood insurance to make, increase, extend or renew your loan, then there’s no waiting period.

Who Needs Flood Insurance?

Many homeowners must buy flood insurance if they live in a designated high-risk flood zone or have a mortgage backed by a federally insured lender.

Some lenders may require their mortgage holders to purchase flood insurance regardless of living in a high-risk zone. In addition, coverage is necessary if you live in a high-risk flood zone and have ever received disaster assistance through FEMA or the U.S. Small Business Administration.

How to Get Flood Insurance

Flood insurance can help financially protect you against the dangers of having your house flooded. Without it, you will need to pay flood-related damages out-of-pocket, which can be expensive. Contact Insurance Advisors today to learn more about flood insurance.

General Liability Insurance

Commercial general liability insurance can cover your business and clients by providing financial assistance when the unexpected happens. Our team can help you secure the insurance your business needs. Contact us today to get started.

Commercial General Liability Coverages

Commercial general liability insurance typically provides coverage for:

Third-party property damage. Commercial general liability insurance may provide repair or replacement costs if your business is responsible for damaging others’ property.
Third-party bodily injury. Commercial general liability coverage may pay for medical expenses if your business is responsible for a third-party bodily injury (e.g., an injury occurring at your business).
Personal and advertising injury. Commercial general liability insurance may provide coverage if your business is sued for a personal or advertising injury (e.g., slander, libel or copyright infringement).

In addition to providing compensation for damages, commercial general liability insurance may pay associated legal fees (e.g., attorney fees, settlements and judgments). Speak with your agent for more information on coverages, limits and exclusions.

Why Commercial General Liability Insurance Is Important

Although commercial general liability insurance typically isn’t required by law, some business licenses may require coverage. Or a landlord may require proof of insurance before offering a lease.

Commercial general liability coverage may also help you avoid paying for unexpected losses out of pocket. Reach out to your agent for additional information on how commercial general liability insurance may mitigate your business’s risks. We can help you secure the coverage that is right for you.

How to Get Commercial General Liability Insurance

Our team can help you obtain your commercial general liability insurance policy. Contact us today for additional information or a quote.

Business Owners Policy (BOP) Insurance

A business owners policy (BOP) is several insurance policies your insurance company combines and offers at a discount. A BOP usually includes general liability insurance, property insurance and business interruption insurance.

Since the insurer designs the BOP, they also set the criteria for qualifying to purchase a BOP. Not every small and medium-sized business is eligible to purchase this insurance package.

Contact Insurance Advisors to find out if a BOP is a good fit for your organization.

What Is Covered Under a BOP?

A BOP typically provides the following three essential insurance policies:

Property insurance helps cover the costs of replacing or repairing company property after a covered incident.
General liability insurance helps cover a company’s legal liability after accidental third-party property damage or injury.
Business interruption insurance helps cover regular bills such as rent and payroll if a company must temporarily close to allow for repairs after a covered event.

Your agent can help you tailor your BOP by adding endorsements or other insurance policies to help mitigate additional risks.

Depending on your industry and the size of your operation, your agent may recommend the following:

Employee practices liability
Business vehicle insurance
Cyber liability and cyber risk insurance
Flood insurance
Equipment breakdown insurance
Employment practices liability insurance
Workers’ compensation insurance
Umbrella insurance

Who Is Eligible for a Bop?

BOPs generally work best for small and medium-sized businesses in low-risk industries. Insurance companies set the criteria to qualify for a BOP. Your agent can help you understand whether this coverage is appropriate for your organization.

How to Get a BOP

Contact Insurance Advisors today to learn about qualifying for a BOP and tailoring your coverage to meet the insurance needs of your business.

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