Does a PPO Make Financial Sense?

PPO Health Plans

A Preferred Provider Organization, or PPO, is a healthcare plan that allows you to choose your medical provider, regardless of their network affiliation. It offers more flexibility to members but is also more expensive than an HMO. At Aspen Gold Insurance Brokers in Denver, CO, we’re familiar with the advantages and disadvantages of joining a PPO.

Why PPOs Are More Expensive Than HMOs

HMOs and similar healthcare plans focus on creating a network of providers to reduce treatment costs and make insurance affordable. The HMO is a closed system in that you have to choose a doctor or specialist within the network. If you want to see your regular doctor, you have to find out if they’re within the HMO before signing up.

In contrast, a PPO is more expensive because you can select your medical provider regardless of their network affiliation. This makes the premium higher than the HMO, but allows you to keep your physician of choice. The PPO pays its share of the bill the same as if you were in an HMO.

Joining a PPO can make financial sense, especially when an extensive relationship with the physician exists. Starting over with a new physician in an HMO can put you at a disadvantage because you may need to repeat some tests or spend more time explaining your health issues, and hope the physician understands your concerns. In this situation, spending the extra amount on the PPO makes sense because you’re expending less time and effort to maintain your health.

Contact Us Today to Find Out if a PPO is Right For You

At Aspen Gold Insurance Brokers in Denver, CO, we’re available to discuss the financial implications of a PPO over an HMO. We’re ready to answer your questions, guide you through your options, and help you get into a PPO that best suits your needs.

Tips to Avoid Loss From Smash and Grabs

Loss from smash and grabs

As a car owner, you’re likely familiar with the term ‘smash and grabs.’ Smash and grabs occur when opportunistic thieves quickly break into a vehicle by smashing the window and grabbing whatever they’re after. Smash and grabs can happen anywhere, even in peaceful towns like Broomfield, Arvada, Westminster, and South to Castle Rock, Parker and beyond. They can occur in driveways, shopping mall parking lots, on parked cars on the side of the road, and more. Loss from smash and grabs may be covered by your insurance from Aspen Gold Insurance Brokers serving the Denver Metro area, but the best step is to do what you can to prevent them from occurring.

Don’t Leave Valuables in Sight

The most effective way to deter a smash-and-grab is to keep your car free of visible valuables. Items like laptops, bags, phones, and even spare change can catch a thief’s eye. If you must leave something in your vehicle, store it in the trunk or glove compartment before you reach your destination.

Park Smart

When parking your car, especially at night, choose well-lit, busy areas. Thieves are far less likely to target vehicles in areas with high foot traffic or visible security cameras. Park in a garage or secured lot when possible.

Use Security Features

Install an alarm system or enable your car’s built-in security settings. Visible deterrents like blinking lights or steering wheel locks can make your vehicle less appealing to a thief. Some advanced systems even notify you of break-ins through mobile alerts.

Be Extra Cautious in High-Risk Areas

Be aware that smash-and-grab thefts are more common in certain locations, such as shopping centers, gyms, and significant public events. These places offer easy access to multiple vehicles with the assumption that people are away for extended periods.

Comprehensive auto insurance typically covers vehicle damage and stolen personal property. Review your policy with your representative at Aspen Gold Insurance Brokers to understand what’s protected, and consider additional coverage if you regularly carry valuable items in your car.

How Tariffs Impact the Insurance Industry

Tariffs—taxes imposed on imported goods—can impact the insurance industry in both direct and indirect ways, even though the connection isn’t always obvious at first glance. Here’s a breakdown of how tariffs might affect the insurance landscape:

1. Increased Costs for Insured Businesses

• Impact on Property & Casualty Insurance: If tariffs raise the cost of goods and materials (like steel, aluminum, machinery, or vehicles), businesses face higher replacement or repair costs. That, in turn, raises the insured value of those items and can lead to:

• Higher premiums

• Greater claims severity

• Example: A manufacturer that pays more for imported equipment due to tariffs may need higher coverage limits and face longer replacement timelines.

2. Supply Chain Disruptions

• Impact on Business Interruption Insurance: Tariffs can disrupt global supply chains, causing delays and shutdowns.

• This increases the likelihood of business interruption claims.

• Insurers may reprice or restrict this coverage due to increased risk.

3. Economic Slowdowns

• Impact on Premium Volume & Loss Ratios:

• Tariffs can slow economic growth by increasing consumer prices and reducing demand.

• Slower growth often results in fewer policies being written (lower premium revenue).

• Certain sectors like construction, manufacturing, and logistics may pull back, reducing demand for commercial insurance.

4. Impact on Specific Lines

• Marine & Cargo Insurance:

• Lower import/export volumes mean less demand for marine and cargo coverage.

• Credit Insurance:

• Tariffs can lead to bankruptcies if companies can’t absorb higher costs, raising credit insurance claims.

• Political Risk Insurance:

• If tariffs escalate into trade wars, demand for political risk insurance might rise for businesses operating internationally.

5. Reinsurance & Investment Returns

• Reinsurance Costs:

• Global reinsurers may raise prices if systemic risks from trade disruptions grow.

• Investment Portfolios:

• Tariff-related market volatility can impact the investment income of insurers, which plays a big role in profitability.

While tariffs may seem far removed from the world of insurance, their ripple effects can create real challenges for businesses and insurers alike. From rising premiums and supply chain disruptions to increased risks across global markets, it’s essential to stay informed about how economic shifts can impact your coverage needs.

At Aspen Gold Insurance Brokers, we help businesses navigate these complex changes with confidence. Whether you’re in manufacturing, logistics, or another industry affected by tariffs, our team is here to ensure your policies are aligned with today’s risks and tomorrow’s goals. Contact us today to review your coverage and make sure you’re protected—no matter what global trends come your way.

Why Boat Owners Need Specialized Insurance Coverage

Specialized Insurance Coverage

If you live in the area of Denver, CO, you may spend a significant amount of your time out in nature. That includes time on the water with a boat. If you’re a boat owner, you need specialized insurance coverage to protect yourself financially. With the help of our agents at Aspen Gold Insurance Brokers, you can enjoy greater peace of mind.

Cover Yourself on the Water

Whether on Cherry Creek Reservoir in Aurora, Chatfield Reservoir in Littleton, Standley Lake in Westminster, Bear Creek Lake in Lakewood, Sloan’s Lake in Denver (non-motorized only), Boulder Reservoir in Boulder, Horsetooth Reservoir in Fort Collins, and Lake Dillon in Summit County., or anywhere else, you want to enjoy the water knowing you’re protected.

You may encounter:

You could crash into a vehicle or an object, so collision coverage is important.
You could injure someone or damage their property, so you need liability coverage.
Other accidents may not involve you or your boat. They could be caused by weather, vandalism, or theft.

When you take to the water in these conditions, you want to ensure your auto policy will protect you in every scenario.

Cover Yourself Out of the Water

There will likely be times when your boat isn’t in the water. It may be in a dry dock, being driven across the state, or even being stored on your property.

Regardless of your other insurance policies, your boat is probably not protected. It’s all the more reason to seek out boat insurance specifically.

When you consider all of the scenarios where your boat could become damaged, stolen, or vandalized, you can create a more specific insurance policy. This way, you can confidently file a claim no matter what happens.

Get the Coverage You Need Now

Boating around Denver, CO, and beyond can be fun but can also lead to the unthinkable. Planning against risks will protect you financially. Choosing specialized boat insurance coverage for your boat is a crucial decision to make.

Contact us at Aspen Gold Insurance Brokers today to learn how our agents can help protect you against the unexpected. We’ll also ensure that you get plenty of quotes to choose from.

Why you should compare home insurance annually

If you’re a homeowner in the Denver, CO area, you might think that acquiring home insurance is a one-time process. After all, once you have it, you just pay for it, right? Not quite. Home insurance policies and rates change, and what worked for you last year may not be the best option today.

At Aspen Gold Insurance Brokers, we encourage homeowners to review and compare home insurance policies annually. Doing so can ensure you have the right coverage at the best price. Here’s why it’s important to stay proactive with your home insurance policy.

Your Home’s Value May Increase

Due to inflation, high demand, or low interest rates, the value of your home could rise beyond current policy limits. If your home’s value has increased, your existing coverage may not be enough to fully protect your investment. An annual review ensures your home insurance policy reflects your home’s current worth.

You May Have Made Home Improvements

Have you added a sunroom, updated your kitchen, installed solar panels, or built a new deck? Major home upgrades can increase your home’s value and replacement costs. Reviewing and comparing home insurance policies will help you determine if additional coverage is needed to protect your investments.

New Pets May Affect Your Policy

Bringing a new furry friend into your home is exciting, but some insurance policies consider certain breeds to be higher risk. If you’ve added a dog to your family, it’s essential to check if your policy covers liability for pet-related incidents. Compare home insurance options to ensure you have adequate protection.

Insurance Rates Change

Insurance providers typically adjust their rates annually based on market conditions, claims data, and other factors. A quote that was not competitive last year might now offer the best rates and coverage. Comparing home insurance policies each year ensures you’re getting the best deal without sacrificing coverage.

Stay Connected with Your Coverage

When you review and compare home insurance policies regularly, you’re less likely to be caught off guard by gaps in coverage. Many homeowners don’t realize they’re underinsured until they need to file a claim. An annual review keeps you informed and ensures you’re fully protected.

Compare Home Insurance and Get a Quote Today

If you own a home in the Denver, CO area, Aspen Gold Insurance Brokers is here to help you compare home insurance policies and ensure you have the right coverage for your needs. We work with multiple insurance providers, allowing us to offer competitive quotes tailored to your home and lifestyle.

Don’t wait until it’s too late to update your policy. Contact Aspen Gold Insurance Brokers today for a no-cost, no-obligation insurance review and price quote. Let us help you compare home insurance and find the best protection for your home and family.

Navigating Commercial Auto Insurance Requirements

For many business owners and employees in the Denver Metro area, including Denver, Broomfield, Arvada, Golden, Commerce City, Parker, Littleton, Castle Rock, and Fort Collins, operating vehicles is an integral part of daily operations. Whether your business relies on a fleet of delivery trucks or involves using a personal vehicle for work purposes, understanding the requirements for commercial auto insurance in Colorado is vital. Compliance with local, state, and federal laws not only safeguards your business from financial risks but also ensures smooth operations.

Why Commercial Insurance is Essential

Commercial insurance can benefit business owners by addressing the unique risks associated with driving for work or managing a fleet of commercial vehicles. It extends beyond traditional coverage and liability coverage, protecting vehicle investments and employees who may be injured while on the job.

Colorado’s Commercial Auto Insurance Requirements

Liability Coverage: Colorado mandates minimum liability coverage for commercial business owners and vehicles. The limits are $25,000 for bodily injury (per individual), $50,000 for bodily injury (per accident), and $15,000 for property damage resulting from a potential commercial auto accident.
Coverage Options: Depending on the specific coverage needs of a business or operation, those requiring commercial auto insurance may also consider additional policies, including collision coverage, uninsured/underinsured motorist coverage, and comprehensive coverage.

Businesses That Require Commercial Auto Insurance

In Colorado, industries such as construction, contracting, delivery services, courier operations, and even rideshare businesses must carry commercial auto insurance. Ensuring proper coverage not only helps you stay compliant but also provides peace of mind knowing your business and employees are protected.

Understanding Colorado’s commercial auto insurance laws is key to making informed decisions about your coverage. Whether you’re looking to enhance your current policy or explore new options, Aspen Gold Insurance Brokers is here to help. Contact us today for a consultation and let us guide you in protecting your vehicles, fleet, and business operations.

Umbrella Insurance for Outdoor Enthusiasts

Colorado’s breathtaking landscapes and endless recreational opportunities are a dream come true for outdoor enthusiasts. Whether you’re hiking mountain trails, boating on pristine lakes, or skiing down powdery slopes in places like Aspen, Vail, or Breckenridge, these adventures offer a sense of freedom—and a bit of risk. At Aspen Gold Insurance Brokers in Denver, CO, we understand how important it is to protect yourself while enjoying the great outdoors. That’s where umbrella insurance comes in, offering extra protection for life’s unexpected moments.

Why Outdoor Adventures Call for Added Coverage

Outdoor activities are exciting but come with unique risks. If someone is injured while hiking with you or an accident involving your boat leads to property damage, the costs can add up quickly. While your standard homeowners, renters, or auto insurance policies may provide some liability coverage, they often have limits. If a claim exceeds those limits, you could be left paying the difference out of pocket. Umbrella insurance steps in to cover those excess costs, giving you peace of mind so you can focus on your next adventure—whether it’s hitting the slopes at Keystone, Copper Mountain, or Steamboat Springs.

Protection Beyond the Basics

One of the most significant benefits of umbrella insurance is its versatility. It isn’t limited to specific activities—it provides additional liability coverage for various situations. Whether you’re hosting out-of-town guests for a ski trip in Winter Park, lending your boat to a friend for a weekend on Dillon Reservoir, or dealing with an unforeseen accident, umbrella insurance ensures you’re financially protected if something goes wrong.

Added Security for Outdoor Business Ventures

If you operate a small outdoor-focused business—such as guided hiking services, ski instruction in resorts like Telluride or Crested Butte, or even boat rentals—umbrella insurance provides an extra layer of liability protection for your operations. These policies ensure that one accident doesn’t derail your financial future, allowing you to focus on offering your clients the best experiences Colorado has to offer.

Ready to Get an Estimate for Umbrella Insurance? Call Us Today

Enjoy the outdoors with confidence. Contact Aspen Gold Insurance Brokers in Denver, CO, today to learn about umbrella insurance, which can offer the extra protection you need. Let us help you safeguard your adventures—from skiing in the Rockies to exploring Colorado’s pristine lakes—so you can keep exploring without worry.

Is your Motorcycle Ready for Winter Riding in Colorado?

Learn How to Winterize Your Motorcycle in Colorado!

As temperatures drop and snow begins to fall, ensuring your motorcycle is ready for Colorado’s winter weather is crucial for safe riding. Use these tips from Aspen Gold Insurance Brokers to prepare your bike for cold-weather performance while keeping yourself protected on the road.

Check Your Tires

Local cyclists must ensure that their motorcycle tires have enough air and tread depth to maintain steady contact with icy and snow-covered roads. Proper tire maintenance reduces the risk of slipping and enhances your overall safety. If you plan to ride throughout the entire winter season, consider upgrading to winter tires designed to improve traction and cold-weather performance. These tires are built with specialized rubber compounds and tread patterns to handle slippery surfaces effectively, making them a worthy investment for winter riders.

Check Batteries and Fluid Levels

Cold weather can significantly impact your motorcycle’s performance, particularly its battery and fluid levels. Make sure your motorcycle has the manufacturer-recommended amounts of oil and coolant to ensure a smoother ride. You may need to switch to winter-grade oil to prevent freezing at lower temperatures. A weak battery can leave you stranded in freezing conditions, so test it regularly to ensure it holds a full charge. Investing in a battery tender can also help maintain its charge when your motorcycle isn’t in use.

Winter Motorcycle Gear

Winter riding in Colorado demands proper gear to protect against freezing temperatures and frostbite. Dress in layers, starting with thermal undergarments, and choose a waterproof motorcycle jacket and pants to keep you dry. Insulated boots and heated gloves or grips can drastically improve your comfort and prevent numbness during long rides. Don’t forget to protect your face with a balaclava or scarf, and ensure your helmet is equipped with an anti-fog visor to maintain clear visibility.

Plan Your Winter Route

Navigating snowy and icy roads requires careful planning. Before heading out, check weather forecasts and road conditions from trusted local sources. Keep an eye out for road closures, snow plowing schedules, and hazardous conditions to avoid unnecessary risks. Opt for routes with less traffic and better maintenance to minimize your exposure to icy patches or slush-covered areas. Carrying a charged phone and emergency kit can also provide added peace of mind during your rides.

Get Comprehensive Motorcycle Insurance in Colorado

While preparing your motorcycle for winter is essential, protecting yourself with the right insurance coverage is just as important. Winter riders in Colorado can take their preparation further by ensuring they have a robust motorcycle insurance policy that covers potential accidents, damages, or liability. Contact the trusted local insurance professionals at Aspen Gold Insurance Brokers to get a comprehensive motorcycle insurance quote today! With their expertise, you can ride confidently knowing you’re fully protected.

By following these winterization tips, you can ensure that your motorcycle stays in top shape and that you’re ready to take on Colorado’s snowy roads with confidence.

Does a parent need to cosign for a teen’s auto insurance?

A teen’s auto insurance is a necessity as they hit the road as a new driver. Has your Denver, CO household welcomed a teen driver into its midst? Perhaps your teenager took driver’s education in school, attended a driving school, or you taught them. Either way, ensure they pull onto the roads of Colorado adequately prepared. That means ensuring they carry proper auto insurance through Aspen Gold Insurance Brokers.

Insuring Your Teen Driver

Teen drivers must carry auto insurance, just as adults do. The insurance industry offers several ways to do this, and the choice of method depends on the driver’s age.

Add Them to Your Policy

The most common way to handle the situation is for a parent to add their teen to their own policy. This action can temporarily increase premium costs, but it gets your young driver legally on the road.

Co-sign for the Teen’s Auto Insurance Policy

Take responsibility for paying the premiums with your teenager by co-signing a policy for the teen. This choice provides them with their own auto insurance before they reach the ripe old age of 18 and does not harm their premiums. They need a parental co-signer before that time because they can’t sign legal documents until they reach 18, the age of consent.

Teen Buys Policy Independently

Once a teen reaches the age of 18, they can purchase their own policy without a co-signer. Reaching the legal age of consent lets them sign contracts independently. An insurance policy is a type of contract.

Contact Aspen Gold Insurance Brokers Today

Make your teen fully prepared for their new responsibilities as a driver in Denver, CO. Contact Aspen Gold Insurance Brokers today to buy your teen’s policy or help them buy their own.

Knowing the Exclusions in Health Insurance

Understanding Health Insurance Exclusions in Colorado

Choosing a health insurance plan in Colorado becomes crucial when it comes to understanding what is not covered. Exclusions refer to specific conditions, treatments, or services not covered by your health insurance policy. Being aware of these exclusions can prevent unexpected expenditures out of pocket and enables you to plan for medical needs not included in the coverage.

Common Health Insurance Exclusions

Health insurance policies often exclude several treatments or services. A common example is cosmetic procedures not deemed medically necessary, such as elective plastic surgeries. Some plans may exclude alternative therapies, like acupuncture or chiropractic care unless they are explicitly included in your coverage.

Pre-existing conditions were previously often excluded from health insurance, but the Affordable Care Act (ACA) has made changes to ensure coverage for most patients. However, short-term or limited-duration health plans may not include coverage for pre-existing conditions.

Many insurers do not cover experimental treatments or procedures. New medical treatments or drugs still in the clinical trial phases are typically excluded from coverage until they are approved for mainstream use.

Understanding Specific Exclusions in Your Policy

Each health insurance policy varies, so you must carefully review your plan’s exclusions before purchasing. These exclusions will be outlined in your policy’s documentation, typically under the section called “Exclusions and Limitations.”

Depending on your specific insurance provider and plan, you may also find restrictions on mental health services, infertility treatments, or specialty care. By understanding these limitations, you can make better financial and medical decisions.

Your Partner in Understanding Insurance: Aspen Gold Insurance Brokers

At Aspen Gold Insurance Brokers, we ensure you have all the information you need to choose the right insurance. Our agency serves locations in and around Denver Metro Area of Colorado. For further assistance, feel free to contact us today.

Aspen Gold Insurance Brokers

Request A Quote