There are a number of common mistakes some individuals and businesses make when it comes to purchasing Colorado insurance. Insurance is the product you buy in case the unexpected happens. Unfortunately, by the time you need it, it’s too late to make sure you have the right type and amount of insurance coverage. Make sure you don’t make the following mistakes while buying Colorado insurance.
Having two agents is better because they keep each other competitive
Having two agents duplicates effort and can create coverage gaps. For example, there are certain coverage’s that can be included under a liability policy and auto policy. One agent is better able to manage your entire insurance program.
The lower the premium the better
Premiums are determined by a combination of exposures and coverage. If you get a lower premium you may be missing needed coverage. For example, does the lower premium include replacement cost coverage on buildings and equipment?
The internet is a great place to get good insurance deals
Low cost internet insurance usually allows you to select the coverage and limits you want. But in most cases you end up with a limited and inadequate program. You find this out after you have an uninsured claim.
Buying from a national company is always better
Don’t listen to the entertaining advertising on TV. Most national agents only represent one insurance company. They can’t shop your account to determine the best combination of price and coverage. We are an independent agent; we represent many companies and search the market for the best combination of pricing and coverage.
There isn’t anything I can do to manage my insurance costs except shop low price
There are many things you can do to reduce your premiums, here are a few:
- Consider increasing your deductibles.
- Consider the vehicle model when make a purchase, some are more expensive to insure.
- Add smoke and security alarms to your home or office.
- Utilize our risk management services
- Train your employees
- Have return to work programs
- Combine your home and auto policies with one insurer.
Unlike many Denver Insurance Agencies, Mountain Insurance Brokers is not owned by any of the insurance companies in Denver or elsewhere, therefore we provide objective information to consumers and small business owners, helping them make informed decisions about their insurance needs. We work with a number of top insurance carriers, assuring that our customers receive competitive rates and comprehensive coverage.