Below are some of the more frequent questions we receive as an agency. If you have a specific question please do not hesitate to give us a call or email.
Homeowners Insurance
For most homes in the Denver metro area, earthquake risk is low to moderate, and standard homeowners policies exclude earthquake damage. Colorado does have earthquakes: the Colorado Geological Survey notes a magnitude 5.3 quake near the Rocky Mountain Arsenal in 1967, a 5.3 near Trinidad in 2011, and evidence of larger historic quakes along the Front Range.
Earthquake coverage can usually be added by endorsement or a separate policy at a modest cost, typically with a percentage deductible. If you want peace of mind, we can quote it, but for most Englewood homeowners, hail, wind, and wildfire coverage deserve attention first.
Questions about your own policy? Johnson Insurance Agency in Englewood helps families and businesses across the Denver metro area and Colorado compare coverage from multiple carriers. Call us at 303-768-8130.
Colorado homeowners premiums are among the highest in the country, mainly because of hail and wildfire. The Front Range sits in “Hail Alley,” and Colorado regularly ranks second only to Texas for hail insurance claims. The December 2021 Marshall Fire destroyed more than 1,000 homes in Boulder County and showed that wildfire can reach suburban neighborhoods. Higher rebuilding costs and the rising cost of reinsurance add to it.
Insurers file their own rates with the Colorado Division of Insurance, and many now use percentage wind and hail deductibles. Homeowners who can’t find coverage in the private market can turn to the Colorado FAIR Plan, the state’s insurer of last resort.
To keep your premium down, ask about discounts for a Class 4 impact-resistant roof, bundle home and auto, understand your wind and hail deductible, create defensible space if you live near open land, and compare carriers at renewal.
Questions about your own policy? Johnson Insurance Agency in Englewood helps families and businesses across the Denver metro area and Colorado compare coverage from multiple carriers. Call us at 303-768-8130.
Start with a review of your policy and needs from a local agent who can compare carriers, since quotes for the same coverage on the same home can vary widely. Make sure each quote offers the same coverage.
Ask about discounts for bundling home and auto, security and fire alarm systems, a Class 4 impact-resistant roof, and claim-free history. Raising your deductible, for example from $1,000 to $2,500, can also lower your premium. In Colorado, review your wind and hail deductible as well, since it’s often a percentage of your dwelling coverage.
The typical homeowners policy has two main sections: Section I covers the property of the insured, and Section II provides personal liability coverage for the insured. Almost anyone who owns or leases property has a need for this type of insurance. Usually, homeowners insurance is required by the lender to obtain a mortgage.
Covered losses under a homeowners policy can be paid on either an actual cash value basis or on a replacement cost basis. When “actual cash value” is used, the policy owner is entitled to the depreciated value of the damaged property. Under the “replacement cost” coverage, the policy owner is reimbursed an amount necessary to replace the article with one of similar type and quality at current prices.
Here’s a checklist of things you should consider when you purchase homeowners insurance:
- Determine the amount and type of insurance that you need. The coverage limit of your house should equal 100% of its replacement cost. If your policy limit is less than 80% of the replacement cost of your home, any payment from your insurance company will be less than the full cost to replace your home. You’ll have to pay the rest out of your own pocket. Also, decide if the personal property and personal liability limits are adequate for your needs.
- Determine which, if any, additional endorsements you want to add to your policy. For example, do you want the personal property replacement cost endorsement, an earthquake endorsement, or a jewelry endorsement?
- Once you’ve decided on the coverage you want in your homeowners insurance policy, consult us. We’ll be able to help you determine if there are any gaps in coverage you might not have been aware of and explain the details of the policy’s exclusions and limitations, as well as recommend an insurance company that will live up to your expectations.
*Note: this answer is based on the Insurance Services Office’s HO-3 policy.
A: The dwelling and other structures on the premises are protected on an “all risks” basis up to the policy limits. “All risks” means that unless the policy specifically excludes the manner in which your home is damaged or destroyed, there is coverage. The policy limit for the dwelling is set by the policy owner at the time the insurance is purchased. The policy limit for the other structure is usually equal to 10% of the policy limit for the dwelling.
Losses to your personal property are covered on a “named perils” basis. “Named perils” means that you have coverage only when your property is damaged or destroyed in the manner specifically described in the policy. The policy limit on the coverage is equal to 50% of the policy limit on the dwelling. Limits for the coverage for the additional expenses that the policy owner may incur when the residence cannot be used because of an insured loss is equal to 20% of the policy limit on the dwelling.
The coverage limit on personal liability is determined by the policy owner at the time the policy is issued. The coverage limit on medical payments to others is usually set at $1000 per injured person.
Personal property (except property that is specifically excluded) is covered anywhere in the world. For example, suppose that while traveling, you purchased a dresser and you want to ship it home. Your homeowners policy would provide coverage for the named perils while the dresser is in transit, even though the dresser has never been in your home before.
The standard insurance policy does not pay for direct damages caused by earth movement. “Earth movement” is a much broader term than “earthquake”. It includes earthquakes, volcanic activity, and other types of earth movement. This coverage may be available by endorsement for an additional charge. If you live in an area that’s more likely to have an earthquake, you’ll pay more than if you live in an area that is unlikely to have one. We can help you weigh the costs and benefits of this coverage before you decide to purchase.
Auto Insurance
Move to safety if you can, call 911 if anyone is hurt, and notify law enforcement. Colorado law requires drivers to report a crash involving injury, death, or property damage to police right away. During “Accident Alert” periods in bad weather, Denver-area agencies may ask you to exchange information and file a report later if there are no injuries, no alcohol or drugs involved, and the cars can be driven.
Exchange names, driver’s license numbers, insurance information, and vehicle registration with the other driver. Photograph the vehicles, the scene, and road conditions, and get witness contact information. Avoid discussing fault at the scene: under Colorado’s comparative negligence rule, your share of fault reduces what you can recover. See a doctor promptly and report the claim to your insurance company.
Questions about your own policy? Johnson Insurance Agency in Englewood helps families and businesses across the Denver metro area and Colorado compare coverage from multiple carriers. Call us at 303-768-8130.
It’s strongly recommended. Colorado insurers must offer Uninsured/Underinsured Motorist (UM/UIM) coverage at limits matching your liability coverage, and you can only decline it in writing. Insurance Research Council estimates have put Colorado’s share of uninsured drivers in the mid-to-high teens, roughly one driver in six, which is well above the national average.
UM pays for your injuries when the at-fault driver has no insurance or flees the scene. UIM pays when the at-fault driver’s limits are too low. In Colorado, UIM is added on top of the at-fault driver’s liability payment rather than reduced by it, so it adds to what you can recover. We generally recommend matching your UM/UIM limits to your liability limits.
Questions about your own policy? Johnson Insurance Agency in Englewood helps families and businesses across the Denver metro area and Colorado compare coverage from multiple carriers. Call us at 303-768-8130.
No. Colorado has been an at-fault (tort) state since it repealed its no-fault law in 2003. The driver who causes a crash, and their insurer, is responsible for the other people’s injuries and damage.
Colorado follows modified comparative negligence: you can recover damages as long as you are less than 50% at fault, but your recovery is reduced by your share of fault, and you recover nothing if you are 50% or more at fault. That’s why your own coverages matter. Medical Payments helps with your medical bills regardless of fault, Collision pays to repair your car, and Uninsured/Underinsured Motorist coverage protects you when the at-fault driver has little or no insurance.
Questions about your own policy? Johnson Insurance Agency in Englewood helps families and businesses across the Denver metro area and Colorado compare coverage from multiple carriers. Call us at 303-768-8130.
Colorado auto rates have risen faster than the national average for several years. The main reasons are hail, which makes Colorado one of the most expensive states for comprehensive claims; high vehicle theft rates in the Denver metro area; repair costs for vehicles packed with sensors and cameras; rising medical and legal costs; and a large share of uninsured drivers.
Insurers file their own rates with the Colorado Division of Insurance, so prices for the same driver can vary a lot from one carrier to the next. To manage your premium, keep a clean record, bundle home and auto, consider a higher comprehensive deductible, park in a garage during hail season, and compare carriers at renewal.
Questions about your own policy? Johnson Insurance Agency in Englewood helps families and businesses across the Denver metro area and Colorado compare coverage from multiple carriers. Call us at 303-768-8130.
Colorado requires every driver to carry liability insurance of at least $25,000 for injury or death to one person, $50,000 for injury or death to two or more people in one accident, and $15,000 for property damage, often written as 25/50/15. Insurers must also offer Uninsured/Underinsured Motorist coverage and $5,000 of Medical Payments coverage, and you have to reject either one in writing if you don’t want it.
Liability coverage pays for injuries and damage you cause to others. It doesn’t pay for your own car. Driving uninsured in Colorado is a misdemeanor with a minimum $500 fine, points on your license, and a suspension until you file proof of insurance (an SR-22). Most Englewood and Denver-area drivers are better protected with higher liability limits plus UM/UIM, Comprehensive, and Collision coverage.
Questions about your own policy? Johnson Insurance Agency in Englewood helps families and businesses across the Denver metro area and Colorado compare coverage from multiple carriers. Call us at 303-768-8130.
Collision Physical Damage Coverage is defined as losses you incur when your automobile collides with another car or object. For example, if you hit a car in a parking lot, the damages to your car will be paid under your collision coverage.
Comprehensive Physical Damage Coverage provides coverage for most other direct physical damage losses you could incur, including theft. For example, damage to your car from a hailstorm would be covered under your comprehensive coverage.
Most states have insurance laws that require drivers to have at least some automobile liability insurance. These laws were enacted to ensure that victims of automobile accidents receive compensation when their losses are caused by the actions of another individual who was negligent.
It’s often the case that the cost of repairing the damages to an older car is greater than its value. In these cases, your insurer will usually just “total” the car and give you a check for the car’s market value less the deductible. Many people with older cars decide not to purchase any physical damage coverage.
A number of factors can affect the cost of your automobile insurance, some of which you can control and some that you can’t.
The type of car you drive, the purpose the car serves, your driving record, and where the car is garaged can all affect how much your automobile insurance will cost.
Even your marital status can affect your cost of insurance. Statistics show that married people tend to have fewer and less costly accidents than single people do.
Flood Insurance
Flood insurance covers direct physical damage caused by flooding to your home’s structure and, if you buy it, your belongings. NFIP policies cover up to $250,000 for the building and $100,000 for contents on a single-family home.
Building coverage includes the foundation, electrical and plumbing systems, furnaces, water heaters, built-in appliances, cabinets, and flooring. Contents coverage includes furniture, clothing, and electronics and must be purchased separately. NFIP does not cover vehicles or temporary living expenses, and it covers very little in basements, which matters for the many Colorado homes with finished basements. Private flood policies can offer broader options, including basement contents and additional living expenses.
Questions about your own policy? Johnson Insurance Agency in Englewood helps families and businesses across the Denver metro area and Colorado compare coverage from multiple carriers. Call us at 303-768-8130.
Flood insurance costs vary widely, from a few hundred dollars a year for many lower-risk homes to several thousand dollars for homes near creeks and rivers. Under FEMA’s Risk Rating 2.0, NFIP premiums are priced for each home individually based on distance to water, elevation, foundation type, rebuilding cost, and your chosen coverage and deductible.
Private flood insurers sometimes beat NFIP pricing, especially for homes outside mapped high-risk zones in Arapahoe, Douglas, Jefferson, and Denver counties. The best way to know is to compare NFIP and private quotes side by side.
Questions about your own policy? Johnson Insurance Agency in Englewood helps families and businesses across the Denver metro area and Colorado compare coverage from multiple carriers. Call us at 303-768-8130.
If your home is in a FEMA high-risk flood zone (a Special Flood Hazard Area) and you have a federally backed mortgage, your lender will require flood insurance.
Lenders check the flood zone when you buy or refinance, and they can also require coverage later if a map update moves your home into a high-risk zone. If you’re outside a high-risk zone, flood insurance is usually optional, but it’s still worth considering in Colorado, where flash floods and burn scar flooding often happen outside mapped zones.
You can meet a lender requirement with an NFIP policy or, in many cases, an approved private flood policy. Because NFIP coverage usually has a 30-day wait, start early if you’re closing on a home.
Questions about your own policy? Johnson Insurance Agency in Englewood helps families and businesses across the Denver metro area and Colorado compare coverage from multiple carriers. Call us at 303-768-8130.
It’s worth considering. Nationally, more than 20% of NFIP flood claims come from properties outside high-risk flood zones. In the Denver metro area, flooding often comes from intense summer thunderstorms that overwhelm storm drains and small creeks, such as Little Dry Creek in Englewood, Cherry Creek, and Bear Creek, and from the South Platte River.
Flood insurance for homes in moderate- to low-risk zones, such as Zone X, is often more affordable than people expect. You can check your flood zone on FEMA’s Flood Map Service Center (msc.fema.gov) or the Colorado Water Conservation Board’s Colorado Hazard Mapping site (coloradohazardmapping.com).
Questions about your own policy? Johnson Insurance Agency in Englewood helps families and businesses across the Denver metro area and Colorado compare coverage from multiple carriers. Call us at 303-768-8130.
NFIP flood insurance generally has a 30-day waiting period before coverage begins, so you can’t buy a policy when storms are in the forecast and expect it to cover them. Coverage bought in connection with a new mortgage or loan closing can start right away, and there is a special exception for flooding caused by post-wildfire conditions on federal land when the policy is bought within 60 days after the fire is contained. Private flood policies may have shorter waiting periods.
In Colorado, the highest flood risk usually runs from spring snowmelt through the summer thunderstorm and monsoon season, so the best time to buy is well before May.
Questions about your own policy? Johnson Insurance Agency in Englewood helps families and businesses across the Denver metro area and Colorado compare coverage from multiple carriers. Call us at 303-768-8130.
No. Standard Colorado homeowners policies exclude flood damage, so you need a separate flood policy through the National Flood Insurance Program (NFIP) or a private flood insurer. Flood includes overflowing creeks and rivers, flash floods, mudflows, and snowmelt or heavy rain that rises into the home. Water from a burst pipe or a hail-damaged roof is usually a homeowners claim; rising surface water is not.
Colorado has a long flood history, including the 1965 South Platte River flood that swept through Englewood and Denver, the 1976 Big Thompson flood, and the September 2013 Front Range floods. Flash flooding below wildfire burn scars has become a growing risk as well.
Questions about your own policy? Johnson Insurance Agency in Englewood helps families and businesses across the Denver metro area and Colorado compare coverage from multiple carriers. Call us at 303-768-8130.
Life Insurance
Most Colorado families with a mortgage and young children get the most protection for their money with term life insurance, while whole life makes more sense for lifelong needs like estate planning, final expenses, or leaving an inheritance.
- Term life: covers you for a set period, commonly 10, 20, or 30 years, at the lowest cost. It’s ideal for covering a mortgage and the years your kids are growing up.
- Whole life: lasts your entire life, has level premiums, and builds cash value you can borrow against.
Many families combine the two: a large term policy for the working years and a smaller permanent policy for lasting needs. Some term policies can be converted to permanent coverage later without a new medical exam.
Questions about your own policy? Johnson Insurance Agency in Englewood helps families and businesses across the Denver metro area and Colorado compare coverage from multiple carriers. Call us at 303-768-8130.
Usually not. Employer group life insurance is often only one or two times your annual salary, while many families need roughly 10 times income or more to cover a mortgage, debts, and future expenses such as college. Group coverage also typically ends when you leave or change jobs.
A personal term policy that you own is often the right addition to group coverage. A needs analysis using your debts, income, mortgage, and education goals will give you a specific number.
Questions about your own policy? Johnson Insurance Agency in Englewood helps families and businesses across the Denver metro area and Colorado compare coverage from multiple carriers. Call us at 303-768-8130.
No, as long as you name a living beneficiary. Life insurance with a named beneficiary is paid directly to that person and skips probate, often within a few weeks of the insurer receiving a death certificate and claim form.
If you name your estate, leave the beneficiary blank, or all named beneficiaries have died, the proceeds may go through probate in the district court of the county where you lived, such as Arapahoe County District Court for Englewood residents, or the Denver Probate Court in Denver. Review your beneficiaries after marriage, divorce, or the birth of a child, and always name a contingent beneficiary.
Questions about your own policy? Johnson Insurance Agency in Englewood helps families and businesses across the Denver metro area and Colorado compare coverage from multiple carriers. Call us at 303-768-8130.
Often, yes. Colorado law generally protects life insurance proceeds paid to a named beneficiary from the insured person’s creditors, and it also protects a policy’s cash surrender value up to a limit set by statute (C.R.S. 13-54-102), with exceptions for premiums paid shortly before a judgment or bankruptcy.
Proceeds paid to your estate can become reachable by creditors through probate, and once a beneficiary receives the money, their own creditors may be able to reach it. This isn’t legal advice, so consult a Colorado attorney about asset protection for your situation.
Questions about your own policy? Johnson Insurance Agency in Englewood helps families and businesses across the Denver metro area and Colorado compare coverage from multiple carriers. Call us at 303-768-8130.
For a healthy non-smoker in their 30s, a 20-year, $500,000 term life policy often costs roughly $20 to $40 a month, though your price depends on age, health, tobacco use, coverage amount, and term length.
Rates rise with age, so locking in coverage earlier usually costs less over time. Permanent policies, such as whole or universal life, cost significantly more than term because they last your whole life and build cash value.
Where you live in Colorado has little effect on life insurance pricing. Your health and the carrier you choose matter far more, so comparing multiple carriers is the best way to find the lowest rate.
Questions about your own policy? Johnson Insurance Agency in Englewood helps families and businesses across the Denver metro area and Colorado compare coverage from multiple carriers. Call us at 303-768-8130.
Life insurance death benefits are generally not subject to federal income tax, and Colorado does not tax life insurance proceeds paid to a beneficiary. Colorado has no estate tax and no inheritance tax.
Exceptions to tax-free treatment include interest earned if the benefit is paid in installments and policies transferred for value. Very large estates may owe federal estate tax, since life insurance you own counts toward your taxable estate; some families use an irrevocable life insurance trust (ILIT). Coordinate with a Colorado estate planning attorney or CPA for larger estates.
Questions about your own policy? Johnson Insurance Agency in Englewood helps families and businesses across the Denver metro area and Colorado compare coverage from multiple carriers. Call us at 303-768-8130.
General Insurance FAQs
Move to safety if you can, call 911 if anyone is hurt, and notify law enforcement. Colorado law requires drivers to report a crash involving injury, death, or property damage to police right away. During “Accident Alert” periods in bad weather, Denver-area agencies may ask you to exchange information and file a report later if there are no injuries, no alcohol or drugs involved, and the cars can be driven.
Exchange names, driver’s license numbers, insurance information, and vehicle registration with the other driver. Photograph the vehicles, the scene, and road conditions, and get witness contact information. Avoid discussing fault at the scene: under Colorado’s comparative negligence rule, your share of fault reduces what you can recover. See a doctor promptly and report the claim to your insurance company.
Questions about your own policy? Johnson Insurance Agency in Englewood helps families and businesses across the Denver metro area and Colorado compare coverage from multiple carriers. Call us at 303-768-8130.
It’s strongly recommended. Colorado insurers must offer Uninsured/Underinsured Motorist (UM/UIM) coverage at limits matching your liability coverage, and you can only decline it in writing. Insurance Research Council estimates have put Colorado’s share of uninsured drivers in the mid-to-high teens, roughly one driver in six, which is well above the national average.
UM pays for your injuries when the at-fault driver has no insurance or flees the scene. UIM pays when the at-fault driver’s limits are too low. In Colorado, UIM is added on top of the at-fault driver’s liability payment rather than reduced by it, so it adds to what you can recover. We generally recommend matching your UM/UIM limits to your liability limits.
Questions about your own policy? Johnson Insurance Agency in Englewood helps families and businesses across the Denver metro area and Colorado compare coverage from multiple carriers. Call us at 303-768-8130.
No. Colorado has been an at-fault (tort) state since it repealed its no-fault law in 2003. The driver who causes a crash, and their insurer, is responsible for the other people’s injuries and damage.
Colorado follows modified comparative negligence: you can recover damages as long as you are less than 50% at fault, but your recovery is reduced by your share of fault, and you recover nothing if you are 50% or more at fault. That’s why your own coverages matter. Medical Payments helps with your medical bills regardless of fault, Collision pays to repair your car, and Uninsured/Underinsured Motorist coverage protects you when the at-fault driver has little or no insurance.
Questions about your own policy? Johnson Insurance Agency in Englewood helps families and businesses across the Denver metro area and Colorado compare coverage from multiple carriers. Call us at 303-768-8130.
Colorado auto rates have risen faster than the national average for several years. The main reasons are hail, which makes Colorado one of the most expensive states for comprehensive claims; high vehicle theft rates in the Denver metro area; repair costs for vehicles packed with sensors and cameras; rising medical and legal costs; and a large share of uninsured drivers.
Insurers file their own rates with the Colorado Division of Insurance, so prices for the same driver can vary a lot from one carrier to the next. To manage your premium, keep a clean record, bundle home and auto, consider a higher comprehensive deductible, park in a garage during hail season, and compare carriers at renewal.
Questions about your own policy? Johnson Insurance Agency in Englewood helps families and businesses across the Denver metro area and Colorado compare coverage from multiple carriers. Call us at 303-768-8130.
Colorado requires every driver to carry liability insurance of at least $25,000 for injury or death to one person, $50,000 for injury or death to two or more people in one accident, and $15,000 for property damage, often written as 25/50/15. Insurers must also offer Uninsured/Underinsured Motorist coverage and $5,000 of Medical Payments coverage, and you have to reject either one in writing if you don’t want it.
Liability coverage pays for injuries and damage you cause to others. It doesn’t pay for your own car. Driving uninsured in Colorado is a misdemeanor with a minimum $500 fine, points on your license, and a suspension until you file proof of insurance (an SR-22). Most Englewood and Denver-area drivers are better protected with higher liability limits plus UM/UIM, Comprehensive, and Collision coverage.
Questions about your own policy? Johnson Insurance Agency in Englewood helps families and businesses across the Denver metro area and Colorado compare coverage from multiple carriers. Call us at 303-768-8130.
Collision Physical Damage Coverage is defined as losses you incur when your automobile collides with another car or object. For example, if you hit a car in a parking lot, the damages to your car will be paid under your collision coverage.
Comprehensive Physical Damage Coverage provides coverage for most other direct physical damage losses you could incur, including theft. For example, damage to your car from a hailstorm would be covered under your comprehensive coverage.
Most states have insurance laws that require drivers to have at least some automobile liability insurance. These laws were enacted to ensure that victims of automobile accidents receive compensation when their losses are caused by the actions of another individual who was negligent.
It’s often the case that the cost of repairing the damages to an older car is greater than its value. In these cases, your insurer will usually just “total” the car and give you a check for the car’s market value less the deductible. Many people with older cars decide not to purchase any physical damage coverage.
A number of factors can affect the cost of your automobile insurance, some of which you can control and some that you can’t.
The type of car you drive, the purpose the car serves, your driving record, and where the car is garaged can all affect how much your automobile insurance will cost.
Even your marital status can affect your cost of insurance. Statistics show that married people tend to have fewer and less costly accidents than single people do.
When you apply for an insurance policy, you’ll be asked a number of questions. Among other things, the agent might ask you your name, age, gender, and address. You’ll also be asked a number of other questions which will be used to determine how likely you are to make a claim.
When an insurance company is deciding whether or not to offer automobile insurance to a potential customer, they will want to know about the person’s previous driving record, whether they have any recent accidents or tickets, and what type of car is to be insured.
Insurance companies have different programs for different customers. Adults with good driving records will generally pay less for auto insurance than a young driver with traffic tickets will. In order to determine which program you qualify for, an insurance company needs basic information about you.
In addition to your age, gender, and driving experience, they will also need information about the vehicle you drive and how you drive it to determine a fair price. For example, a large luxury car costs more to repair or replace than a sub-compact, and someone who commutes 30 miles each way is more likely to be in an accident than someone who rides the bus to work and drives only on weekends.
By using an agent to purchase insurance, the policy holder receives more personal service. An agent with whom there is direct contact can be vital when purchasing a product and absolutely necessary when filing a claim. A local agent who compares multiple carriers is able to deliver quality insurance with competitive pricing and local, personalized service.
Business Insurance
Absolutely. Business Interruption Insurance can be tailored to meet the unique needs of different industries, ensuring that the specific risks and operational requirements of your business are adequately covered.
Yes. Business interruption coverage pays lost net income plus continuing normal operating expenses, such as rent, utilities, loan payments, and taxes, while your business is closed due to covered damage. Payroll is generally covered, though some policies limit coverage for certain employees or time periods. Extra expense coverage helps pay the added cost of reopening faster.
It depends on the policy. Business owners policies usually include business income coverage automatically. On a commercial property or package policy, business income is a separate coverage that must be selected, with its own limit and waiting period. Review your policy to confirm the coverage is included and that the limit reflects how long it would realistically take to reopen.
The coverage period, known as the indemnity period, usually lasts until your business resumes normal operations, but it is subject to a maximum time limit specified in your policy.
Business interruption coverage generally applies only when income is lost because of direct physical damage to property from a covered cause, such as a fire or windstorm. It typically does not cover losses from causes excluded on the property policy, such as flood or earthquake unless separately insured, and most policies exclude losses from viruses and communicable disease. Interruptions caused by utility outages or damage at a supplier’s location require specific endorsements.
It’s recommended to review your BOP annually or whenever there are significant changes in your business, such as expansion, new services, or changes in ownership. Regular reviews ensure that your coverage remains adequate and up to date with your business needs.
When selecting a BOP provider, consider factors such as the provider’s reputation, customer service, claims handling process, and the flexibility of coverage options. It’s important to choose a provider that understands your industry and can offer the support you need.
Yes, a BOP is highly customizable. You can add endorsements or additional coverages to address specific risks unique to your business, ensuring that you have comprehensive protection tailored to your needs.
The cost of a BOP varies depending on factors such as the size of your business, industry, location, and coverage limits. It’s best to get quotes from multiple providers to find the most affordable option for your specific needs.
A BOP typically does not cover professional liability, workers’ compensation, health and disability insurance, or commercial auto insurance. For instance, if your business involves providing professional services, you would need separate professional liability insurance to cover errors or omissions in your work.
Commercial Auto
A personal auto policy typically does not cover business use of your vehicle. HNOA provides the necessary liability coverage for business-related driving of non-owned vehicles, filling the gap left by personal auto policies.
No. Hired and non-owned auto coverage protects your business from liability when an employee or owner uses a vehicle the business does not own, such as a personal car or a rental, for business purposes. The vehicle owner’s personal auto policy is generally primary, and HNOA does not cover the driver’s personal liability or physical damage to the vehicle.
Yes, HNOA can often be added as an endorsement to an existing commercial auto or general liability policy, providing an additional layer of protection.
Yes, even occasional use of non-owned vehicles for business purposes can expose your business to significant risks. HNOA provides essential coverage for these scenarios.
HNOA does not cover physical damage to the hired or non-owned vehicle itself. For protection against damage to the vehicle, you would need comprehensive and collision coverage.
To get a quote for Commercial Auto Insurance, you will need to provide details about your business operations, the types and number of vehicles to be insured, the primary use of each vehicle, driver information, and any previous claims history. This information helps insurers assess risk and provide an accurate quote.
Commercial Auto Insurance covers vehicles used for business purposes and typically offers higher liability limits than Personal Auto Insurance. It also includes coverage options specifically designed for business use, such as Hired and Non-Owned Auto Coverage and higher liability limits.
Yes, Commercial Auto Insurance allows you to cover multiple vehicles under a single policy. This is particularly beneficial for businesses with a fleet of vehicles, providing comprehensive coverage and simplifying policy management.
Yes, if your employees use their personal vehicles for business purposes, you should consider Hired and Non-Owned Auto Coverage. This policy provides liability protection in case an employee’s personal vehicle is involved in an accident while performing business tasks.
Commercial Auto Insurance does not cover intentional damage, personal belongings inside the vehicle, or certain types of business equipment. For coverage of personal belongings, consider Personal Property Insurance. For business equipment, Inland Marine Insurance may be appropriate.
Commercial Trucking
Your commercial trucking insurance rate is impacted by your personal driving record if you are an owner-operator with a CDL. A professional driver’s license means that any accidents or violations on the road will also affect how much it costs to insure your company’s vehicles
Yes, you can request cancellation at any time. If you paid in advance, the refund depends on the policy terms and may be calculated pro rata or on a short-rate basis, and some policies include a minimum earned premium. If your policy includes federal or state filings, the insurer must notify the agency of the cancellation, so plan replacement coverage before canceling to avoid a gap in your operating authority.
Report the claim as soon as possible. Call us at 303-768-8130 or visit our claim center, and we will help you report it to your carrier and guide you through the next steps. Preserve photos, dash camera video, and ELD data, and do not admit fault at the scene.
Even if you have been driving for years, opening your own business is a different ball game in insurance carriers eyes. Your CDL experience will impact your rate, but the time in business will also be a big factor, which means if you are a recently new business, your rates will be similar to other new businesses.
It typically takes 24-48 hours to get a quote and be covered. Once you decide which plan is best for your trucking needs, we can help you through the application process.
Commercial Auto Liability is focused exclusively on the risks of owning a truck, while general liability policies focus on protecting a company from risks that could impact the business in any manner. Commercial Auto liability typically covers property damage and bodily injury to drivers, passengers in your car, pedestrians, and others.
General liability protection covers bodily injury to anyone who could sue your company: customers and other guests (walking through the lobby), contractors, and vendors doing work for you.
Typically filings are done the same day or within 24 business hours.
Most insurers consider your loss history for the past three to five years, so a claim can affect your premium for that period. At-fault accidents and larger losses have more impact than minor claims. Safety programs, dash cameras, and driver training can help offset the effect at renewal.
Most trucking companies carry primary auto liability, physical damage for trucks and trailers, motor truck cargo, and general liability. Depending on your operations, you may also need non-trucking liability, trailer interchange, occupational accident or workers’ compensation, and excess liability. Call us at 303-768-8130 or request a trucking quote to review your needs.
Maintain a clean driving record, hire experienced drivers, document a written safety program, keep up with maintenance, and use dash cameras and telematics. Choosing appropriate deductibles and paying in full can also help. Johnson Insurance Agency compares multiple trucking insurance carriers to find the best combination of coverage and price, rather than simply the cheapest policy.
Yes. You can own and operate a trucking company without a CDL if you hire qualified CDL drivers, but you must have a CDL to drive a commercial motor vehicle that requires one. Insurers evaluate both the business and its drivers, and new ventures generally pay more until they build a track record.
Trucking accidents can cause severe injuries, and claim costs have risen with repair costs, medical expenses, and litigation. Jury verdicts of $10 million or more against trucking companies have become more common, and driver shortages and less experienced drivers add to the risk. Strong safety programs help fleets stand out to underwriters.
Trucking insurance costs vary widely based on several key factors:
- Driver history: clean driving records earn significantly better rates.
- Time in business: companies with more than two years of experience generally pay less than new ventures.
- Cargo: what you haul and its value affect the risk.
- Operating radius: longer routes and certain regions carry more risk.
- Equipment: the type, weight, and value of trucks and trailers.
- Limits and deductibles: higher limits and lower deductibles increase premium.
Call us at 303-768-8130 or request a quote for pricing on your operation.
Workers Compensation
In Colorado, an injured employee should report the injury to the employer in writing within four working days, and a claim generally must be filed with the Colorado Division of Workers’ Compensation within two years of the injury, or within three years if there’s a reasonable excuse for the delay. Different rules apply to occupational diseases. Reporting injuries right away helps ensure prompt medical care and benefits.
Generally, no. In Colorado, workers’ compensation is the exclusive remedy for most workplace injuries, which prevents employees from suing a covered employer in civil court. Exceptions are narrow: an employer who fails to carry required coverage can be sued and faces significant penalties, and employees can still bring claims against third parties, such as an equipment manufacturer or another driver, whose negligence caused the injury.
Employment Practices
In Colorado, an injured employee should report the injury to the employer in writing within four working days, and a claim generally must be filed with the Colorado Division of Workers’ Compensation within two years of the injury, or within three years if there’s a reasonable excuse for the delay. Different rules apply to occupational diseases. Reporting injuries right away helps ensure prompt medical care and benefits.
Generally, no. In Colorado, workers’ compensation is the exclusive remedy for most workplace injuries, which prevents employees from suing a covered employer in civil court. Exceptions are narrow: an employer who fails to carry required coverage can be sued and faces significant penalties, and employees can still bring claims against third parties, such as an equipment manufacturer or another driver, whose negligence caused the injury.
Professional Liability
To file a claim, you should contact your insurance provider as soon as possible. They will guide you through the process, which typically includes providing details about the claim, submitting necessary documentation, and cooperating with any investigations.
Generally, premiums paid for Professional Liability Insurance are tax-deductible as a business expense. However, it’s best to consult with a tax professional to understand the specifics of your situation.
Additional insured status is common on general liability policies but is rarely available on professional liability policies, because the coverage is tied to the professional services of the named insured. If a contract requires additional insured status on professional liability, contact your agent before signing so the requirement can be reviewed or negotiated.
The amount of coverage you need depends on the size of your business, the nature of your services, and the risks involved. It’s advisable to assess your specific needs with an insurance expert to determine the appropriate coverage limits.
Professional Liability Insurance does not cover intentional wrongdoing, bodily injury, property damage, or non-professional activities. For these types of risks, General Liability Insurance is more appropriate.
Commercial Property
It’s advisable to review your policy annually or whenever significant changes occur in your business, such as renovations, purchasing new equipment, or changes in inventory levels, to ensure your coverage remains adequate.
Contact your insurance provider immediately to report the incident. Document all damages with photos and keep records of related expenses. Your provider will guide you through the claims process.
Yes, many insurance providers offer package policies, such as a Business Owner’s Policy (BOP), which combines Commercial Property Insurance with General Liability Insurance and other coverages for a comprehensive protection plan.
Evaluate the replacement cost of your building and contents, considering factors like location, industry-specific risks, and the value of your assets. It’s essential to choose coverage limits that fully protect your investment.
Commercial Property Insurance typically does not cover damages from floods or earthquakes. Separate policies, like Flood Insurance or Earthquake Insurance, are required for these specific risks.
Bonds
Yes, surety bonds typically have a set term and need to be renewed upon expiration. The term length can vary depending on the type of bond and the requirements of the obligee. It’s important to keep track of your bond’s expiration date and ensure timely renewal to maintain compliance and coverage.
Yes, it is possible to get a surety bond with bad credit, though it may come with higher premiums. Many surety companies offer programs specifically designed for businesses with credit challenges. It’s essential to work with an experienced agent who can help you navigate this process and find the best options available.
If a claim is made against your surety bond, the surety company will investigate the claim to determine its validity. If the claim is found to be valid, the surety will compensate the obligee up to the bond amount. However, the principal (your business) is ultimately responsible for repaying the surety for any claims paid out.
The time frame to obtain a surety bond can vary based on the type of bond and the complexity of your business operations. Typically, it can take anywhere from a few hours to a few days. For more complex bonds, the process might take longer as it involves thorough evaluation and approval.
Surety Bonds Insurance does not cover direct business losses, damages to property, or liability claims. For instance, if your business suffers from property damage, you would need a property insurance policy to cover those losses. Surety bonds are specifically designed to guarantee contractual obligations and compliance with regulations
Cyber Liability
Yes, Cyber Liability Insurance can cover business interruption costs, helping your business recover lost income and additional expenses incurred while restoring operations after a cyberattack.
While both types of insurance provide coverage for cyber incidents, Cyber Liability Insurance typically offers broader protection, including business interruption, cyber extortion, and regulatory fines, whereas Data Breach Insurance focuses mainly on the costs associated with data breaches.
Even with robust cybersecurity measures, no system is completely immune to cyber threats. Cyber Liability Insurance provides an additional layer of protection, covering the financial losses and recovery costs associated with a cyber incident.
Cyber liability insurance can help with regulatory obligations after a breach, including notification costs, legal counsel, and response to regulatory investigations. Some policies also cover regulatory fines and penalties where they are insurable by law, as well as payment card industry assessments.
Colorado’s data breach law (C.R.S. 6-1-716) requires businesses to notify affected Colorado residents within 30 days of determining that a breach occurred, and to notify the Colorado Attorney General when 500 or more residents are affected. Those notification and response costs are exactly what cyber coverage is designed to help with.
Cyber Liability Insurance typically does not cover physical damage to hardware, bodily injury, or property damage. For these types of coverage, you would need a General Liability or Property Insurance policy.
Builders Risk
To file a claim, contact your insurance provider immediately after a loss occurs. Provide details of the incident and any supporting documentation. Your insurer will guide you through the claims process.
Yes, Builder’s Risk Insurance is beneficial for renovation projects as well. It covers the value of the work being done and any materials used in the renovation.
Yes, Builder’s Risk Insurance can be tailored to fit the specific needs of your project. This includes adjusting coverage limits and adding endorsements to cover additional risks.
Coverage typically lasts for the duration of the construction project, from the start date to its completion. Policies can usually be extended if the project takes longer than expected.
Builder’s risk insurance covers the structure and materials during construction, but it typically does not cover injuries on the job site, liability claims, employee theft, faulty workmanship or design, wear and tear, or contractors’ tools and equipment. Flood and earthquake are often excluded unless added. General liability, workers’ compensation, and inland marine coverage address many of these other risks.
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