What Is The Difference Between A Universal Helmet Law and a Partial Helmet Law?

There are only three states in the country with no type of helmet law in place. Colorado has a partial helmet law in place compared to other states who have a stricter universal law. If you live in Colorado and are unsure of what is included in the state’s partial law, the agents at Aspen Gold Insurance Brokers can fill you in.

Universal Helmet Laws

A universal law requires every motorcycle rider to wear a helmet while they are on public roadways. Your age and skill level are not determining factors. To ride legally in a state that has a universal helmet law, you must have a helmet that is DOT approved. There are 19 states that require all motorcycle riders to wear a helmet that meets DOT standards.

Partial Helmet Laws

Colorado is one of 28 states that require only certain riders to wear helmets. Passengers under the age of 18 and those who are still riding on a learner’s permit must wear a DOT approved helmet at all times while riding their motorcycles on public roads. If you are unsure if your helmet is DOT approved, all you have to do is look at the back. DOT approved helmets will have a DOT “Certified” sticker centered on the back.

The agents at Aspen Gold Insurance Brokers know the laws when it comes to helmet use in Colorado. If you have any questions concerning your motorcycle policy or need information about local laws pertaining to helmets and other safety requirements, contact the office today. The agents will answer your questions and make sure you have all of the information you need.

What is Included in a Motorcycle Insurance Policy?

Spending a nice afternoon on a long motorcycle ride can be fun and exciting. While a motorcycle is a lot of fun to ride, it is also an expensive asset that needs to be properly covered by insurance. For those that are in Colorado, having a full motorcycle insurance policy can be a great option. A motorcycle insurance policy will provide you with several different types of coverage.

Motorcycle Insurance Policy & Liability Coverage

The first type of coverage that will be included in your motorcycle insurance policy is liability insurance coverage. Liability coverage will provide you with financial coverage in the event you are found liable in an accident. In the state of Colorado, you are required to have minimum motorcycle liability coverage of $15,000 per accident in property damage and $25,000 per person and $50,000 per accident in bodily injury coverage. Liability coverage will only provide coverage for the other party’s expenses.

Collision and Comprehensive Coverage

When you own a motorcycle, it is also likely a good idea for you to have collision and comprehensive insurance coverage. Collision and comprehensive insurance coverage will provide you with coverage in the event you are in an accident with an uninsured driver, if your vehicle is stolen or damaged by storm, or if you are in an accident involving an animal. In many cases, having collision and comprehensive coverage will be a requirement of a lender if you have a loan on your motorcycle.

For those that are in the Broomfield, CO area and are in need of a motorcycle insurance policy, contacting Aspen Gold Insurance Brokers could be a great option. Aspen Gold Insurance Brokers can help you to better understand your insurance needs and help you to get into a great policy today.

To read more about motorcycle insurance information, see our other blogs on motorcycle insurance policies.

3 Ways Business Interruption Coverage can Protect your Small Business

Taking into consideration the rising trend of major disasters around the country, your business could very well be affected by a catastrophe at some point in time. Business interruption coverage can prepare you for unforeseen disasters that can bring your company to naught. Here are three ways business interruption coverage from Aspen Gold Insurance Brokers can protect your Broomfield, CO company from loss.

How Can Business Interruption Coverage Replace Lost Income

Standard business insurance policies cover damage to business property, equipment and inventory so you can replace the items you need to continue operating. It doesn’t, however, replace a loss of income if your business has to close temporarily to recover from a disaster. A lengthy shutdown for major repairs to your office or warehouse could cost you much-needed income that you can use towards disaster recovery. Business interruption coverage helps replace lost revenue to keep your business going until you can reopen your doors and start generating income on your own.

Covers Employee Payroll

Business interruption insurance also covers employee wages during a shutdown, so you don’t lose valuable manpower in the interim period of making repairs. Good workers are hard to find. By covering payroll, business interruption insurance makes it easier to keep experienced employees until work conditions stabilize and you’re ready to resume operations.

Pays for Business Expenses

Even in a disaster, you’re responsible to pay for typical business expenses like rent or mortgage of business property and utility costs. Business interruption insurance provides funds to keep up with your financial responsibilities during a shutdown. It also pays for temporary setup in a new location until your building’s repairs are done.

Business interruption insurance makes it easier for you to get back on your feet after disaster strikes. To learn more about this coverage and costs, contact us at Aspen Gold Insurance Brokers, Broomfield, CO.

Coverage Options for Colorado Motorcycle Insurance

While Colorado riders are required to have Colorado motorcycle insurance, it may be advisable to get additional coverage so you can be protected from any losses that the minimums won’t be able to help you with. Many things can happen while you’re on the road, but liability coverage can only get you so far. Any additional amounts that are left over after the minimum amounts will be your responsibility if you’re at fault, and it could result in severe financial and even legal liabilities. That’s why you should look into some additional coverage for your motorcycle insurance policy.

Additional Coverage Available for Colorado Riders

There are several options for Colorado riders who want to purchase additional coverage, and some of them may include:

• Collision Coverage – Covers your bike if it was involved in an accident regardless of the circumstances, but it may not necessarily cover any losses from an uninsured or underinsured motorist.

• Uninsured/Underinsured Motorist Coverage – Covers your bike if you were in an accident that involves an uninsured or underinsured motorist who was at fault.

• Comprehensive Coverage – Covers your bike from any losses that resulted from any damage that has been caused by a fire, water, or vandalism. It can even cover your bike if it has been stolen.

• Bodily Injury Coverage – Covers any costs associated with bodily injury related to an accident for which you’re at fault, and it will cover any passenger who rides on your bike.

• Medical Payments Coverage – Covers any medical costs and funeral expenses associated with an accident for which you’re at fault.

If you want to find out more information about what’s available in the State of Colorado, be sure to speak to an agent about your specific needs.

Finding the Best Motorcycle Insurance Policy in Broomfield, CO

If you want to find the best Colorado motorcycle insurance policy in Broomfield, CO, you should get a hold of Aspen Gold Insurance Brokers. We have a team of expert agents who can help you get the coverage you need, and we’ll be able to find a policy that you can afford. Be sure to get in touch with Aspen Gold Insurance Brokers in Broomfield, CO today!

Umbrella Insurance Policy vs Irrevocable Trust

When you make a purchase for an umbrella insurance policy, it is imperative that you understand how this type of insurance works. In and of itself, umbrella insurance does not provide any type of coverage. Instead, it provides coverage on top of the insurance you already have. For example, if you are in an auto accident and your insurance is exhausted after paying $50,000, your umbrella policy may provide an additional $50,000. Your regular insurance, however, would have to be exhausted first before your umbrella policy could be tapped into.

If you acquire money through an umbrella policy, you may be required to pay taxes on it. If a lawyer helps you get the money, you may even owe him or her money out of the funds you acquire. With an irrevocable trust, though, your money cannot be touched by anyone but you. This is why it is important to understand the difference between an umbrella policy and an irrevocable trust.

There are so many things to know about an irrevocable trust and an umbrella insurance policy. It is always of the utmost importance that you speak with a qualified insurance agent to help determine which type of policy will be best for you. Some people find that they benefit from having both types — an umbrella policy plus an irrevocable trust. Contact an agent with Aspen Gold Insurance Brokers serving the Broomfield, CO area today. We can help you determine all of your insurance needs and help you sort through the many different types of policies. It is our goal to ensure you are covered with the best insurance possible.

Do Pre-Existing Conditions Affect the Cost of Your Health Insurance Premium?

If you are looking to obtain health insurance, but have a pre-existing condition, you may wonder how this affects any new health insurance policy you obtain. At Aspen Gold Insurance Brokers, serving the greater Broomfield, CO area, we are often asked about pre-existing conditions. There is a lot of misinformation out there and a lot of changes that people may not be aware of. Here is some information you should know if you have pre-existing conditions and are looking to obtain health insurance.

In the past, pre-existing conditions could cause you to get denied for health insurance or cause your premiums to be extremely high. However The Affordable Care Act, also referred to as ObamaCare, precluded this. You can no longer be charged more or denied coverage for any type of pre-existing condition, including pregnancy.

While you cannot be charged more or denied health insurance based on pre-existing conditions, it is important to note that you still need to enroll in health insurance during the open enrollment period. An existing health issue is not a qualifying event for which you can qualify to obtain health insurance in the health insurance marketplace if you do not currently have health insurance. As such, be sure to enroll during the open enrollment period to ensure you are covered against both pre-existing conditions and conditions that may arise over the course of the next year.

Getting health insurance can be complicated. If you are in the market for a new policy, let a professional who knows the ins and outs of health insurance policies help. Call Aspen Gold Insurance Brokers, serving the greater Broomfield, CO area, help you with all of your health insurance needs. Contact us now to get started.

3 Reasons to Obtain Roadside Assistance Coverage with your Auto Insurance

The more you travel, the greater your risk of experiencing a breakdown on the road. Roadside assistance coverage can come in handy when problems arise with your vehicle, particularly if you’re far from home. If you have an older vehicle and use it often for work, errands or kids’ transport, you may want to add this service to your Aspen Gold Insurance Brokers car insurance policy. Here are a few ways in which roadside assistance can be of benefit to Westminster, CO drivers.

Roadside Assistance Coverage Can Help With An Unforeseen Breakdown

You never know when you will get a flat tire or experience an unexpected breakdown on the road. With roadside assistance coverage, help is but a phone call away. You don’t have to worry that you’ll be stranded for hours or have to pay for expensive towing out of pocket. Roadside assist provides such services as fixing a flat tire, vehicle refueling and jumping a dead battery, enabling you to continue your travels. With roadside assist, you can have greater peace of mind that help is easily accessible when traveling with your family.

Lockouts

If you accidentally lock yourself out of the car, roadside assist coverage will pay for lockout services to help you regain entry to your vehicle. In the event your technician cannot gain access to your car, a locksmith will be called. Depending on your coverage, locksmith services may be partially or completely covered by your insurance policy.

Towing

If car troubles go beyond the ability of a roadside assist technician, towing will be provided to a nearby garage so you are not left stranded by the side of the road. This is particularly helpful if you have car problems at night or during inclement weather.

To learn more about roadside assist coverage, contact us at Aspen Gold Insurance Brokers, Broomfield, CO.

3 Tips for Understanding Personal Property Coverage

Our team at Aspen Gold Insurance Brokers has put together this easy-to-understand guide regarding personal property coverage and your Colorado homeowner’s insurance policy.

Tip #1: Understand What It Covers

Personal property coverage refers to the items that you own—i.e. your clothes, shoes, furniture, electronics, toothbrush, and even your dog are all considered personal property items. For the most part, these belongings are covered under a blanket figure on your policy. However, certain larger cost items—like guns, jewelry, artwork, computers, and furs—might need special consideration and a discussion with your agent.

Tip #2: Know Your Policy Limits & Details

Another important tip regarding personal property coverage is to understand your limits and the different types of coverage listed. As mentioned above, most homeowner’s policies have a cap limit on how much all of your belongings together would cost to replace. However, the policy also usually dictates how an adjuster would come up with values for each of those individual items.

Actual cash value (ACV) refers to items that will only be reimbursed for what they were worth at the time of the loss. Replacement cost value (RCV) refers to what it would cost to buy the modern version of an item at a store today.

Tip #3: Document Anything Excessive or Out of the Ordinary

Should a claim occur, the onus is on you and not your insurance company to prove the items you claim were actually owned by you. In most cases, household belongings considered reasonable and necessary won’t need definitive proof, but anything excessive or out of the ordinary will likely need photos, receipts, or a combination thereof for reimbursement. Keep a record of these items and store it in a safe place, like a fireproof box or digitally.

Interested in learning more? Contact Aspen Gold Insurance Brokers today for your no-obligation Colorado homeowner’s insurance quote.

How Much Insurance Does A Business Need To Survive A Business Loss?

Colorado business owners look at their companies as a means of support as well as being their livelihood. A financial loss can be devastating causing a person to lose much more than their business. Commercial insurance policies are designed to help a business prevent a survive a business loss from disabling or destroying a business. It allows the company to regain its bearings and push forward with the rebuilding process. The agents at Aspen Gold Insurance Brokers can help a company determine how much commercial insurance coverage they need to adequately keep the business alive after a devastating financial loss.

A loss can take many forms, such as weather damage, fire, accidental injury or even burglary. Many losses are unexpected and business owners have little they can do to prepare for the loss. Commercial insurance can take care of many types of losses if the right amount of coverage is purchased. In most cases, insurance agents determine the amount of insurable worth as the value of the business and the amount of estimated profits for approximately six to eight months. While the insurance may not reimburse for the entire amount, it will provide the business owner with the money needed to rebuild the business and operate for a few months after they are back in operation.

Although this type of loss is rare, the ability to rebuild and operate the business back to a successful state is vitally important to the company owner. The agents at Aspen Gold Insurance Brokers can help Colorado business owners protect their commercial interest and prevent devastating financial loss. Knowing the value of the business and what will be needed to help it survive a business loss is important information that an owner needs to know.

Learn more about commercial insurance check out our additional blogs.

The Pros and Cons to Buy Used vs. New Car

The toughest decision for residents of Westminster, CO is whether or not to buy used vs. new car. Often, the answer centers on the current state of their financial situation. After looking at the numbers, it’s smart to choose the cheaper, older option, but others are willing to pay more money for a flashier, new automobile that best fits their personality.

Neither is a wrong decision because owning and operating a car is an expensive proposition. If you’re still undecided, then it’s wise to gather all of the information from an agent with Aspen Gold Insurance Brokers before making a huge financial commitment.

Here are the pros and cons to buy used vs. new car:

Resale Value

Buying a late model used automobile offers the best value in today’s market because every vehicle takes a huge depreciation once it’s driven off a Westminster CO car lot. Obviously, the sales price will be lower, but other expenses should be decreased as well, such as insurance and sales tax.

Reliability

Used cars are becoming more appealing due to their improved reliability to stay on the road. Independent studies have shown automobiles that are at least five-years-old had fewer mechanical issues than the newer models. If properly maintained, these vehicles can easily go past 100,000 miles, and in some cases, they can reach the 200,00 mark without ever needing any major repair work.

Warranty and Repairs

The unknown factor in all car purchases is pinpointing the time for the first repair. Its smart to put money aside that will cover the cost for wear-and-tear (tires, brakes, etc) repairs on used automobiles. Newer cars have fewer mechanical issues, and the majority of them are often covered under the umbrella of a comprehensive warranty package. You must decide if the savings from a used car purchase is worth the added expense of repairs down the line.

Interest Rates, Insurance, and Safety

Acquiring a loan for a new automobile does come with a lower interest (six percent compared to seven percent) rate than for a used car. An insurance package designed by an agent with Aspen Gold Insurance Brokers for a used automobile won’t be as extensive as required in a new car purchase. Fewer safety features are found in used cars, as frontal airbags that deploy during an accident aren’t available.

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