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3581 Oneal Ave.,
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What is an Annuity?

Posted on March 28, 2025March 26, 2025 by admin

As you contemplate your future, one thing to consider is how to support your family after you pass away. Life insurance is one of the financial tools people use to ensure their families will be provided for when they die. If you live in Colorado, our team at Laine Insurance welcomes you to bring us all your insurance questions. We’ve been working with clients in Colorado since 2019.

What is an Annuity?

When shopping for life insurance, you may hear about annuities. According to the Colorado Department of Regulatory Annuities, an annuity is a contract made for you by your insurance company to provide payments to someone you designate. If you want someone to receive annuity payments, you secure the payments with premiums (similar to insurance premiums). One of the benefits of an annuity is the interest that your annuity premiums accrue.

Annuities can be purchased in a variety of ways. For example, a single payment annuity is purchased by paying the full premium upfront. Suppose you want to invest the premiums of your annuity (hoping for a gain in value for the person who receives funds). In that case, it is called a fixed or a variable annuity (depending on whether you plan to change the source of your investments).

Call Us Today for Your Appointment

The guidelines of your life insurance policy can make a difference for your family when they need to pay funeral expenses or navigate the years after you pass away. Citizens of Colorado will find us knowledgeable about a wide range of life insurance policies and arrangements. Every member of our team at Laine Insurance provides excellent customer service to every client who visits our office. Call us for an appointment today, and let’s talk about your insurance options.

Commercial Insurance Tips for Risky Business Endeavors

Posted on February 28, 2025February 25, 2025 by admin

Does your business plan include operations that are considered risky? You may want to obtain commercial insurance coverage for situations that you have identified as high-risk. Use the tips that follow to guide you.

Liability Risks

Identify the liability risks that your business faces. If dangerous machinery, chemicals, or other hazardous materials are used in your place of business, you may be concerned about the possibility of being sued.

Acquiring enough liability protection is important. Liability insurance will cover you if you are sued by one of your clients. This type of insurance coverage will handle a wide range of legal costs you may face.

Business Property Damage

If your business environment is considered dangerous, you may be concerned about the threat of damage. Damage to your business property could be costly. Having adequate insurance coverage will limit the out-of-pocket costs you could potentially face.

The coverage you attain will allow you to repair or replace any damaged materials on site, preventing your business operations from being halted for a long time.

Workers Compensation Coverage

Having adequate coverage for your employees is important. This type of coverage will protect against injuries that your workers may incur.

Commercial Insurance Upgrades

Are you ready to learn more about protecting your place of business? Contact one of our Laine Insurance agents serving Colorado to schedule an appointment to discuss your business plan.

The agent will outline any risks that you face as a business owner. They will recommend various types of commercial insurance that will protect you, your employees, and your place of business.

How Bundling Home and Auto Insurance Can be Beneficial in Colorado

Posted on January 31, 2025January 29, 2025 by admin

As a resident of Colorado, bundling your home and auto insurance can provide multiple benefits. Bundling policies for comprehensive coverage and protection secures your peace of mind and ensures you’re prepared for any driving conditions or weather patterns you may encounter throughout the year. At Laine Insurance, we’re here to help you find the perfect bundle for your auto and home insurance policies that suit your needs and those of your household.

Cost Savings

One of the most attractive aspects of bundling home and auto insurance for Colorado residents is the potential for significant cost savings. Bundling can offer discounts that range from 10-25% in total, a sum that can accumulate over time.

Simplified Policy Management

Bundling is an excellent option for streamlining policy management. It consolidates payments and billing cycles, making tracking and monitoring insurance premiums easier. Having a single point of contact also simplifies the process of discussing coverage options and potential add-ons, eliminating the need to contact multiple agents.

Enhanced Coverage

Bundling your home and auto insurance can also offer additional perks and features, such as extended liability protection across both policies. You may also be offered discounts and higher coverage limits at a reduced cost.

Understanding the benefits of bundling home and auto insurance while living in Colorado is a great first step, whether you’re looking to optimize and maximize your coverage or reduce insurance premiums. If you’re interested in learning more about how to bundle your home and auto insurance while living and working in Colorado, we’re here to help. Contact Laine Insurance today for your quote and initial consultation.

Should You List Your Teen Driver on Your Auto Insurance?

Posted on December 24, 2024December 23, 2024 by admin

Every parent of a teen in Colorado eventually decides whether to add their driver to their insurance or have them purchase their own. At Laine Insurance, we aim to provide you with the facts and options. In this blog, we’ll explain the pros and cons of listing your teenager on the family auto policy and how a teenager can purchase their policy.

Insurance is a Must for Your Teen Driver

Before your teenager can earn their learner’s permit, they must obtain insurance coverage that meets the state minimums. We recommend adding your teenager to your auto insurance before starting their high school driver’s education course or other driving lessons. By doing this, you ensure they carry appropriate insurance in case they cause an accident while learning to drive.

Emancipated Teens and Adult Teenagers

A person must reach the age of adulthood, 18 years, before they can purchase auto coverage or other insurance alone. The exception to this is an emancipated teen. Once a court of law allows people to emancipate from their parents, they’re granted adult rights. We’ve never faced this rare situation, so the teenagers to whom we sell auto policies have reached the age of 18 or 19. Everyone younger than that must get listed on their parent’s policy.

Impact of Listing Your Teen on Your Policy

Policy premiums typically increase with a teenage driver on them. You may be able to mitigate this increase with a defensive driving certificate. Ask your agent if the insurance underwriter offers scholarly student discounts or other options.

Contact Laine Insurance Today

Don’t let your teen drive in Colorado without proper auto coverage. Call or email Laine Insurance today to update your policy.

How Do RV and Auto Insurance Differ?

Posted on November 26, 2024November 25, 2024 by admin

If you are considering buying an RV, it helps to understand the similarities and differences between RV and auto insurance. RVs are not just bigger than cars. They differ in ways that require additional forms of insurance. RV insurance is more complicated than auto insurance, so working with an agent who will tailor the coverage to your needs is essential. Our Laine Insurance team arranges RV coverage for many Colorado customers, so contact us to experience our outstanding service.

RV and Auto Insurance Compared

Colorado law requires self-powered RVs (Class A, B, and C motorhomes) to carry the same minimum liability insurance coverage as automobiles. Those requirements include:

Bodily injury liability: $25,000 per person and $50,000 per accident
Property liability: $15,000 per accident

Many RV owners carry higher bodily injury liability coverage because RVs carry more people than cars and cause more damage when at fault for an accident. Higher liability coverage protects owners should an accident occur.

RV insurance includes other elements that resemble parts of a home insurance policy. Examples include:

Vacation Liability: Combines bodily injury and property damage coverage for people in and around your RV when it is parked
Personal Property and Attachments: Insures appliances, clothing, and household items in and around your RV
Homeowners Association Fees: Pays RV HOA charges resulting from common area damages
Roadside Assistance: Most auto roadside assistance plans do not cover RVs due to their size
Temporary Lodging: Pays your living expenses while your RV gets repaired while traveling

Insuring Your RV With Laine Insurance

The friendly team at Laine Insurance serves clients throughout the State of Colorado. We will gladly help you obtain the RV or other insurance coverage you need, so stop by the office or call us today at (719) 696-7923.

Exploring Insurance Options for Long-Distance Motorcycle Trips

Posted on October 28, 2024October 25, 2024 by admin

Embarking on a long-distance motorcycle trip is an exhilarating experience, offering freedom and adventure like no other. At Laine Insurance in Colorado, we understand the unique needs of motorcyclists and are here to help you explore the best insurance options for your journey.

Understanding Your Coverage Needs

Before hitting the open road, evaluating your current motorcycle insurance policy is essential. Consider whether it provides adequate protection for long trips, including coverage for potential accidents, theft, or breakdowns in unfamiliar locations. Comprehensive and collision coverage are particularly important when traveling far from home.

Roadside Assistance and Trip Interruption

Unexpected issues can arise during long rides. Adding roadside assistance to your policy can provide peace of mind, ensuring help is just a call away if you experience a flat tire or mechanical failure. Additionally, trip interruption coverage can be a lifesaver, covering expenses like lodging and food if you’re stranded due to a breakdown or accident.

Customizing Your Policy

Every rider’s journey is unique. Whether you’re traveling solo or with a group, consider customizing your policy to fit your specific needs. This might include additional custom parts and accessories coverage or even increased liability limits if you’re crossing state lines with varying insurance requirements.

Staying Safe and Prepared

Beyond insurance, preparation is key to a successful trip. Regular bike maintenance and safety gear are crucial, and it’s wise to plan your route with rest stops in mind to avoid fatigue.

Ready to Purchase Motorcycle Insurance in Colorado? Reach Out to Us Today

At Laine Insurance in Colorado, we’re dedicated to helping you find the perfect insurance solutions for your long-distance motorcycle adventures. Contact us today to discuss how we can support your journey and keep you protected on the road.

The Importance of Reviewing Your Boat/Watercraft Insurance Policy Annually

Posted on September 30, 2024September 30, 2024 by admin

Fulfilling the dream of owning a boat or watercraft brings with it a rush of excitement and the call of freedom and adventure. However, just like your vessel needs routine maintenance, so does your insurance policy. At Laine Insurance, providing various types of insurance across Colorado, including boat and watercraft insurance, we’re here to explain why conducting an annual review of your boat insurance is essential.

Remain Protected Amidst Changing Circumstances

Changes are inevitable in life, and subsequently, your insurance needs can evolve, too. Perhaps you’ve upgraded your boat, added new equipment, or begun using your watercraft for different purposes, such as occasional rentals or races. Changes like these can significantly affect your coverage needs. An annual review ensures your policy remains current and comprehensive.

Adapt to Regulatory Alterations

Insurance requirements aren’t constant. Newly enacted state or federal regulations might necessitate alterations to your coverage. An annual policy review guarantees compliance with new laws, helping evade potential penalties or coverage gaps.

Benefit from Updated Discounts

Insurance companies routinely revise their discount schemes. Whether it’s a reward for completing a safety course or savings facilitated by bundling policies, an annual review can unearth new avenues for cost reduction. At Laine Insurance Colorado, we’re committed to helping you secure the finest coverage at an attractive price.

Peace on the Waves

Ultimately, conducting a yearly policy review imparts peace of mind. The assurance of being fully covered allows you to relish your marine aventures worry-free.

Are you eager to review your policy? We are here to assist you with boat and watercraft insurance policies. Contact Laine Insurance if you’re in Colorado to ensure your boat is in expert hands.

Starting A Family? Why You Should Consider Life Insurance

Posted on August 30, 2024August 28, 2024 by admin

Family is a pillar of love and support that one can always rely on. It is reassuring to know that your family will still be cared for even if something unfortunate were to occur. Life insurance serves as a safety net in such scenarios.

At Laine Insurance, serving Colorado, we assist customers in finding the right life insurance policy tailored to their needs. We can guide you through various available policies and help you find one that aligns with your budget.

What Is Life Insurance?

Life insurance is a type of insurance that pays a benefit upon the insured’s death. It comes in many forms, and your policy may function differently from another person’s.

Term life insurance is a policy type that remains active for a predefined period (usually between 10 and 30 years). If the insured dies while the policy is active, their beneficiaries receive a sum of money. However, if the insured dies after the policy expires, their beneficiaries do not receive life insurance from that policy.

Permanent life insurance is a policy type that stays active as long as the premiums are paid. Upon the insured’s death, their beneficiaries receive a sum of money.

Who Benefits from Life Insurance?

People often opt for life insurance when they start a family or take dependents under their care. You have the power to choose your beneficiaries. Please remember to keep your insurance policy and beneficiaries list up to date!

How Do I Get Life Insurance?

At Laine Insurance, serving Colorado, we help our customers choose the right life insurance policy for their needs. Contact us today to learn more about our life insurance products and discover the one that best suits your budget.

Three Types of Commercial Insurance That Your Business May Need

Posted on July 30, 2024July 30, 2024 by admin

As a business owner, taking steps to protect your enterprise is crucial. Having the appropriate commercial insurance policies is one of the critical ways to ensure that protection. Since numerous types of commercial insurance policies exist, the ones your business requires will depend on your specific operations. Factors such as whether you have employees, the type of products or services you offer, and your business location play a role in determining the insurance policies you need. When it’s time to secure your commercial policies, contact us at Laine Insurance in Colorado.

Worker’s Compensation

Worker’s compensation insurance protects your business against accidents that your employees could have at work. Employees can get injured through falls and other accidents, even in seemingly safe environments like offices. If this happens and your business isn’t insured, you will be liable for the resulting medical and legal costs. Worker’s compensation insurance protects your business from the financial distress that a workplace accident can cause.

Commercial Auto Insurance

All vehicles that your business owns must have commercial insurance policies. If an accident occurs, a personal auto insurance policy will not cover costs relating to a business-owned vehicle. Having the right commercial auto insurance is the only way to ensure that the repairs and injuries resulting from an accident will be covered.

Product Liability

Businesses that sell products should consider product liability insurance. Products you sell can cause accidents that could lead to injuries. If your business is not insured for this, it would have to pay for all related costs, such as medical bills and legal fees. Having product liability coverage offers financial protection against such incidents, contributing to your business’s financial security.

Secure Your Colorado Commercial Insurance

There are many types of commercial insurance that may apply to your business. Call Laine Insurance in Colorado to learn more about the coverage that best meets your needs.

Common Components of Home Insurance

Posted on June 28, 2024July 2, 2024 by admin

Your home insurance policy from Laine Insurance protects your Colorado home in various ways. The general home insurance policy covers the structure and its contents under distinct policy types. It encompasses perils coverage, which covers damage from occurrences like fire, tornado, and wind. Also, these policies include liability coverage. Let’s analyze each of these coverage types separately.

Perils Coverage

All home policies include perils coverage. You select the degree of perils coverage you want, starting with a policy that covers the ten most common perils and ranging up to one that covers all perils. When you purchase all perils coverage, it doesn’t list each peril in the policy because it covers every conceivable peril, no matter how unique or unusual. Perils coverage applies to your home’s structure and its contents.

Liability Coverage

Liability coverage applies to the entire home, yard, and everything therein. If someone sustains injuries while visiting your home and jumping on a trampoline, the liability segment of your coverage provides you financial protection by paying for the injured person’s medical costs and any settlement resulting from the injury.

Other Structures Coverage

Some home insurance policies include coverage for other structures, including structural and contents coverage for sheds, detached garages, workshops, etc. If your garden shed gets damaged by high winds and it also harms your lawnmower, this coverage settles for repairing or replacing the shed and the mower.

Let Us Help You Design Your Home Policy

You aren’t a cookie, so don’t select cookie-cutter home coverage. Let Laine Insurance assist you in designing a home insurance policy that fully covers your Colorado home and the possessions you store inside it.