Do You Need Home Insurance in Colorado if You Don’t Have a Mortgage?

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Most mortgage lenders in Colorado these days require homeowners to carry home insurance as part of their contracts. But, what if you’ve paid off your home in full and do not have a mortgage? Do you still need home insurance? 

Here’s the short answer: legally, you do not need home insurance in Colorado, but there are many reasons why you’ll probably still want a policy. At Integrity First Insurance, we’re here to answer all your questions!

What Does Home Insurance Do?

While mortgage lenders may refer to home insurance as protecting their financial investment, it’s really about protecting yours as well. After all, you’ve already put in a lot of time (and funds) into your home, and this goes tenfold if you’ve paid it off in full and do not have an active mortgage. A good home insurance policy prevents you from having to pay for all damaging events to your property out of your own pocket, therefore making sure your investment is not wasted. 

Does it Matter if I Live in an Urban or Rural Area?

Colorado is a very geographically diverse state, and our beautiful land is home to both rural and urban communities. Homes in both areas face different kinds of risks, and they are both still in need of home insurance as a result. Fortunately, insurance providers recognize this and offer different ranges of coverage options as a result.

How Do I Get a Policy?

When you’re ready to learn more about your home insurance coverage options, give us a call at Integrity First Insurance. We’re homeowners in Colorado ourselves, and we understand that there is no "one size fits all" policy. We’ll get to know you and your property, as well as any specific needs you have for coverage. Then, we’ll be able to present you with the policy options that fit best. Don’t wait to protect everything you’ve already invested into your home — reach out to us today!

At What Age Should I Start Considering Life Insurance?

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Many people in San Antonio, TX may think of life insurance as something you don’t need to worry about until you’re retired. The truth is that life insurance is less about age and more about certain milestones you may pass in life.

The real question is whether or not you have people depending on you. If you’re fresh out of college, single, working an entry-level job, life insurance might not be a priority. But for many of us, that situation doesn’t last very long. Before you know it, you’re married, you have kids, you have expenses, loans to pay off, and if something were to happen to you, it would create many problems for a lot of people.

So the answer to the question may not be that there is a specific birthday where life insurance becomes essential. Instead, life insurance becomes important on the day that you start to feel like an adult with adult responsibilities. The term "life insurance" is appropriate, as it is your life that is being insured, your family, and home. Everything that you can’t simply walk away from in San Antonio, TX, that’s what life insurance protects.

The sooner you start, the better off you’ll be. Most insurers offer loyalty discounts, and life insurance tends to be far cheaper the younger you are, and the healthier you are.

If you’re ready to take that step, get in touch with the Integrity Advisors Agency. Integrity Advisors Agency can help you to find the right policy for you so that you can rest easy, knowing that, no matter what, your loved ones will be taken care of, and your responsibilities will be managed.

Do I Need Commercial Insurance For My Etsy Business?

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If you run an Etsy business in San Antonio, TX, the question of insurance comes down to a few factors.

  • Is this your primary income? If you are running an Etsy business as a way to make an extra hundred dollars a month, if it is essentially just a hobby that pays for yourself, it might be a little early to consider buying extensive commercial insurance. On the other hand, if this is how you make a living, how you pay your bills, then you certainly don’t want to leave it at risk.
  • How much volume is your business doing? If you are selling hundreds of items a month, then your level of risk is far more pronounced than that of many Etsy shop-owners.
  • What sort of equipment do you have on hand? It may be worth buying commercial insurance even for a small Etsy shop if you have thousands of dollars worth of tools, supplies, and equipment on hand. You don’t want to spend hundreds investing in a silkscreening setup only to find that your home insurer excludes business property.
  • Are there any special liability concerns associated with your product? Any product you could hope to sell comes with a certain degree of liability, and Etsy may provide some protection on your behalf. Still, if you are selling something that may be potentially hazardous, you will undoubtedly want to have adequate protection against lawsuits.

With many small businesses, it can be tricky to determine where the line is drawn between business and hobby. Still, once you cross that line, it’s time to call Integrity Advisors Agency and discuss buying a commercial insurance policy. Integrity Advisors Agency can get your San Antonio, TX business the protection it needs.