Types of Boat Insurance

Owning a boat can take a lot of work to keep things running smoothly. One thing that is a must for keeping it protected is insurance. If you have a boat, it is a good idea to check out the requirements and options for boat insurance. Here are some of the types of coverage that are available for boating insurance.

Types of boat insurance


Liability insurance covers costs related to an accident that you caused. If you hit someone’s property or injured someone, they could sue you for the damages. In the case of a lawsuit, your liability insurance could help cover the costs related to the lawsuit. Even if they don’t file a lawsuit, your insurance will cover medical bills and repairs for the other party involved.

Physical damage coverage

If physical damage coverage is a part of your policy, it will take care of the costs of any physical damage to your watercraft. This includes equipment and machinery related to the boat and any personal belongings.

Loss settlement coverage

There are two types of coverage under loss settlement insurance: the agreed-on amount and actual cash value. Agreed value is the value that you and the insurance company agree on to cover the loss of your boat. The actual cash value is the value of your boat at that given time and could be less than the agreed value.

Personal property coverage

Personal property coverage includes any personal effects you have on your boat, such as clothes, shoes, electronic items, etc.

Emergency towing and assistance

If you get stuck somewhere and need assistance or towing, your insurance coverage could help take care of the cost depending on what is in your policy.

Medical payments coverage

If you or anyone else on your boat gets injured in an accident, no matter who is at fault, medical payment coverage covers the medical costs.

Uninsured/underinsured boater coverage

Sometimes, boaters get into an accident with another boater who doesn’t have any insurance. In this case, it is helpful to have uninsured boater coverage to ensure you are covered. If the uninsured boater was at fault, this could come in handy and ensure that you would still be covered.

Contact us

If you need boat insurance, look no further than Premier Group Insurance in Lakewood, CO.

How Does Umbrella Insurance Work?

If you want as much coverage as you need in case of a serious accident, you may wonder whether your home and auto insurance is enough for you. Most of the time, it isn’t. These policies often come with enough liability coverage to stay legal without having enough that it can cover a costly accident. There is umbrella insurance to get better coverage without paying an enormous amount. When you’re interested in getting an umbrella policy, call us now at Premier Group Insurance in Lakewood, CO to get started. 

Liability Coverage

When there is an accident in your home, and someone is injured, you need liability coverage in your home insurance policy to pay for it. You need liability coverage in your auto policy when an accident happens involving your vehicle, and you are at fault for it. While the costs are relatively low, an expensive accident may come with so many medical bills that your home or auto policy maxes out and doesn’t pay for all of them. When that happens, you owe anything that’s left to pay. You can fix this by having umbrella insurance. It adds more liability insurance to both of these policies so that your policy will take care of the overage. 

Low-Cost Coverage

Umbrella insurance is well-known for having very high maximums and not costing very much. It costs far less to get an umbrella policy than you would if you added more liability coverage to your home and auto policies. You can save money and be very well protected at the same time. 

Get Umbrella Insurance

If you want to be better covered with an umbrella insurance policy, call Premier Group Insurance in Lakewood, CO today.

What is the difference between comprehensive and collision insurance?

Comprehensive insurance and collision coverage are two types of insurance policies that can help protect you in the event of an accident or other covered incident. While they cover different aspects of your vehicle, there are some key differences between comprehensive and collision insurance that you should be aware of when deciding which type of coverage is right for you.

  • Comprehensive insurance typically covers damage to your vehicle from non-collision incidents, such as a storm, theft, vandalism, or fire.
  • Collision insurance typically covers damage to your vehicle resulting from a collision with another object or vehicle.

While you may not need comprehensive and collision coverage for every vehicle you own, there are certain situations where it could be helpful. For example, if you drive in areas that are prone to severe weather or natural disasters, such as hurricanes or wildfires, then comprehensive coverage can help protect your vehicle from damage during these events.

In contrast, if you only drive in urban areas and rarely encounter any hazards on the road, then you may not need collision coverage and could instead opt for more basic auto insurance policies.

Ultimately, the correct type of insurance coverage will depend on your individual needs and driving habits, as well as your budget and other financial considerations. When deciding between comprehensive or collision insurance, it is essential to consider all of these factors and thoroughly research your options to find the best policy for you.

Whether you choose comprehensive or collision insurance or opt for a combination of both types, it is crucial to understand the risks and benefits associated with each so that you can make an informed decision. If you have any questions, give Premier Group Insurance a call. We proudly serve the Lakewood, CO area.

Five Key Areas Covered by Life Insurance

If you want to solidify your financial plan, investing in life insurance is an excellent place to start. Life insurance takes care of your loved ones and other financial interests when you die. Do you want to invest in life insurance in Lakewood, CO? Please talk to Premier Group Insurance.

Here are the five areas covered by life insurance.

Final expenses

If you don’t want to burden your loved ones with funeral expenses, please invest in life insurance. Your family and friends can use the life insurance proceeds to pay for the costly funeral expenses.

Covers your dependents

Do you have children, siblings, or a spouse that depends on your income? Investing in life insurance ensures your loved ones don’t suffer financially when you are long gone. Your dependents can use the life insurance proceeds to meet their financial obligations, including college fees, mortgage, and other expenses.

It pays for your debts.

Do you have a mortgage, car, or student loan? When you die, you don’t have to leave the burden to your cosigners or loved ones. The proceeds from your life insurance can be used to settle your debts.

It can be used to supplement your income.

Do you know life insurance can help you when alive? Whole life insurance accumulates a cash value, which you can borrow against or use to supplement your income.

It covers your business.

Your life insurance isn’t just for individual use — it can be used to protect your business. How? If you have business loans, the proceeds from life insurance can be used to settle the loan. Besides, life insurance can be used to fill in the financial gaps you leave to ensure business continuity.

Are you interested in life insurance? You are on the right track. If you are in Lakewood, CO, please book an appointment with Premier Group Insurance for an affordable life insurance policy.

Own a growing business in the Lakewood area? Let us help you protect it

Lakewood, CO area business owners turn to the team at Premier Group Insurance for commercial insurance coverage. If your business has grown recently, your coverage must keep pace with your success. We are here to help you with all of your commercial insurance needs. Call today!

Protect your growing business with a comprehensive commercial policy

There are many stages that a company goes through over time. From early start-up days to sustained growth periods and everything in between. If it’s been a while since you have closely reviewed your commercial policy, now is a great time to do so. 

Many business owners begin their companies as self-funded entities. This often means that budgets are tight, and cost savings are the priority. As a company continues to grow, its insurance needs will change. For example, as your market share increases, you will likely invest in new equipment, more robust staffing, and perhaps a fleet of commercial vehicles. All of these changes can also affect your insurance needs.

Working with a local insurance professional allows you to stay on top of all the changes impacting your insurance needs. Comprehensive commercial policies can provide the ongoing protection that your company needs. Find out today how you can protect all of your hard work and dedication. Having the right policy in place will protect you now and in the future. 

Think of us as your insurance partner

Premier Group Insurance proudly serves the greater Lakewood, CO area business community. Our team is here to help you protect your business wherever it may be in the growth cycle. Contact our office today and schedule a consultation to review available commercial policy options. 

Three Coverages You Must Have for your Colorado Auto Insurance Policy

Auto insurance is one of the most important policies to have in your portfolio. There are many coverages available. However, what is the most important? Here are three policy coverages you must have in Colorado.

Liability and Property Damage

Other drivers or property owners can directly sue you for damage without proper liability and property damage insurance. Further, legal costs and settlements due to a vehicle accident can financially break you. Thus, work with a company like Premier Group Insurance in Lakewood, CO to determine the proper liability and property damage amounts. 

Collision and Comprehensive Coverage

The right collision coverage helps repair vehicle damage caused by another vehicle or a stationary object. Meanwhile, you need comprehensive coverage for damage related to fire, vandalism, or natural disasters. 

Without the appropriate coverage amounts, you can’t repair issues that go beyond cosmetic. In other words, you may not have the necessary funds to address mechanical difficulties. Further, you can’t take care of items like hail damage. As a result, you can be left without a car or have to find a way to finance a new automobile.

Gap Coverage

Although it’s not part of a standard auto insurance policy, gap insurance is a must-have coverage. It is critically important if you have a new or pre-owned vehicle you still finance. Without gap coverage, you may not have the needed funds to pay off your car and purchase a new one. Conversely, a gap coverage policy helps pay off the remaining vehicle payments, thus ensuring your financial stability. 

Do you have further questions on the auto insurance coverage you need? If so, contact a representative from Premier Group Insurance in Lakewood, CO for further details.

You Don’t Have a Mortgage, Do You Still Need Home Insurance?

If you don’t have a Lakewood, CO mortgage, you might think you don’t need home insurance. But even with a home that’s free and clear of a loan, you still need to protect your investment with a good home insurance policy. Here’s why:

Protection From Natural Disasters

No matter where you live, your home is vulnerable to natural disasters. Even if you don’t have a mortgage, a fire, severe weather, or another disaster could destroy your home. Home insurance can help you rebuild after a covered catastrophe.

Also, it helps you and your family stay in temporary housing if your home becomes uninhabitable after a disaster. You’ll have a place to live during the rebuilding process, and you won’t have to bear the entire cost of a hotel stay.

Liability Protection

Home insurance also provides liability protection. This can be especially important for a house that’s paid off. Liability coverage can help pay for medical bills and other damages if there’s an injury on your property or if you accidentally injure someone else. Your Premier Group Insurance representative can help you choose the right amount of coverage for your needs.

Peace of Mind

Finally, home insurance gives you peace of mind knowing that it protects your home. This benefit can help you relax and enjoy your Lakewood, CO, home. You don’t want to worry about what would happen if your home gets damaged or destroyed. Home insurance can help you relax and feel confident that you’re protected.

Talk to your Premier Group Insurance agent if you’re unsure whether you need home insurance. We can help you understand your risks and choose the right coverage for your needs.

What Are Some Of The Most Common Types Of Recreational Insurance?

Recreational insurance protects you against risks associated with various activities, including rock climbing, scuba diving, skydiving, and many others. 

The primary purpose of this insurance is to protect you during recreational activities in case of an accident or a mishap that causes property damage or bodily injury to others. For questions, Premier Group Insurance can help you in Lakewood, CO. 

What You Need to Know 

The types of insurance needed for various recreational activities depend on the risk associated with each activity. 

Some common types of recreational insurance include travel insurance, boat insurance, sports insurance, drone insurance, contractor insurance, and rental car insurance. 

Depending on the activity, you may also need liability, extended, or excess medical insurance. 

Insurance companies offer recreational insurance policies to protect individuals participating in recreational activities from unforeseen circumstances that could put their finances at risk. 

These policies are available for various activities, such as skydiving, scuba diving, skiing, snowboarding, race car driving, piloting an airplane, golf, hunting, scuba diving, fishing, skateboarding, scooting, etc. 

Most recreational policies are very affordable and can be purchased for less than $10 a day. Various types include: 

  • Sports insurance: It’s a great option if you go golfing, hit the slopes, or engage in any other physical activity. 
  • Travel insurance: It safeguards you and your belongings abroad.  
  • Rental car insurance: It protects you in the case of an accident and the rental company if the car is damaged. 
  • Concert insurance: It’s purchased by concertgoers to protect themselves and their guests in case of an accident or illness. 
  • Holiday insurance: Offers protection against unforeseen circumstances, like if your flight is canceled. 
  • College student insurance: It helps students cater for medical bills and other incurred costs during an accident.
  • Winter sports insurance: This insurance protects you and your guests during winter sports.

Parting Words 

Recreational insurance comes in many different forms, and it’s important to know what type of policy will best suit your needs. Contact Premier Group Insurance in Lakewood, CO if you need help!

Benefits of a comprehensive policy for your RV

Premier Group Insurance is proud to serve the insurance needs of the greater Lakewood, CO area. If you want to learn more about the RV insurance options available, give us a call or stop by our office today. 

Choosing a comprehensive policy for your RV is often the right way to go.

Having an RV sure makes it easier to do when it comes to enjoying life! This is a great reason to ensure that your vehicle has the protection you need. When you choose a comprehensive policy, you can benefit from:

  • Increased liability protection – if you essentially live in your RV during the warm months, you will want protection from liability. Having guests over to your RV is wonderful, but if they are injured in your RV, you can have some liability risk. This coverage can protect you from financial loss.
  • Greater coverage when you are on the road – collision protection is critical to every RV owner. Repairing or replacing these vehicles is not always easy. And having comprehensive coverage can make the situation less stressful.
  • Higher policy limits for medical expenses – if you are involved in an incident with your RV that causes injury to yourself, your passengers, or persons in another vehicle, you’ll want to have protection that will help defray those costs.

We are here to help you protect your RV

Are you an RV owner in the greater Lakewood, CO area? The team here at Premier Group Insurance is here to help you protect your RV. If you want to learn more about the available policy options, give our office a call today.

We look forward to working with you!

Benefits of RV Insurance in Lakewood, CO

RV insurance is a must in Lakewood, CO. Not only is it the law, but it also protects you and your family while you enjoy the great outdoors. Here are some of the top benefits of RV insurance:

1. Liability Coverage

This type of coverage protects you financially if you’re found responsible for damages or injuries sustained by another person. It can help cover the costs of medical expenses, property damage, and legal fees.

2. Coverage for Your Vehicle and Contents

Comprehensive coverage protects your RV from damage caused by vandalism, theft, and natural disasters. This policy type also covers theft of belongings inside your RV. Your Premier Group Insurance representative can help you determine the right level of coverage for your needs.

3. Collision Coverage

This part helps pay for damages to your RV in Lakewood, CO if it’s involved in a collision with another vehicle or object. It can also help cover the costs of towing and repairs. You should have at least as much collision coverage as the value of your RV.

4. Roadside Assistance

An excellent option available with some policies is roadside help. This can come in handy if you have a flat tire, run out of gas, or experience any other type of mechanical issue while on the road. Consider adding this coverage to your policy if you don’t already have it.

When it comes to RV insurance, it’s essential to make sure you have the right coverage for your needs. At Premier Group Insurance, we can help you find the perfect policy to fit your lifestyle. Call us today to learn more about our RV insurance options.