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9235 N Union Blvd., Ste. 150 #385
Colorado Springs, CO 80920

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Why Commercial Insurance is an Asset for your Business

Owning a business does not come easy. And in that case, you need to cushion it from all risks that come with owning a business. One unfortunate event could wipe out your much-invested business. Imagine the devastation! Where do you even begin? But that does not need to be the case. Investing in commercial insurance protects you from such mishaps regardless of the industry.

Are you in Colorado Springs, CO, and still viewing commercial insurance as an expense? Here are the reasons why you should invest in coverage from Westco Insurance LLC.

Liability protection

Every business comes with its unique risks. Imagine if you sell products, and one of your products causes harm to your clients? Think about the financial consequences of legal suits to medical expenses, which could cost you thousands of dollars. Fortunately, commercial insurance investment protects you from damages caused to a third party.

Assets protection

Imagine a fire ravaging your business assets? Think about the financial losses you would incur due to business interruption and property damage. Thankfully, investing in commercial insurance cushions your business assets from theft, vandalism, fire, and other risks stated in your policy.

Employee protection

Employees are invaluable assets that make a difference between the success and failure of your business. That said, employees being your most significant asset requires utmost protection — there is no better way to safeguard your employees than investing in workers’ comp insurance.

Increases your business reputation

Suppliers and customers want to associate with a business that is well protected if anything goes wrong. Business insurance sets you apart from your competitors by increasing your credibility.

Commercial insurance in Colorado Springs, CO

If you considered commercial insurance as a waste of money, think again. With all the benefits associated with this coverage, you can’t afford to secure one for your business. Ready to get started with commercial insurance? Look no further than Westco Insurance LLC. Contact us today for an affordable quote

What to look for when choosing your homeowner’s policy

Selecting a homeowner’s policy can take a lot of consideration to ensure that the coverage is correct and adequate for your needs. The team at Westco Insurance LLC is proud to serve the insurance needs of residents in the greater Colorado Springs, CO area.

Look for these policy options when selecting your homeowner’s insurance

If it’s time to renew your homeowner’s policy, or you are looking to buy a home, it’s important to get the right coverage. When selecting your policy, you may want to consider the following:

  • Does this policy protect all of the structures on my property?
  • Is the deductible in-line with my budget?
  • Do I have protection from theft and vandalism?
  • What happens if my house becomes uninhabitable due to a covered event?
  • Will I need additional coverage for personal articles?
  • Is any work equipment that I have at home (such as a laptop computer) covered?
  • Do I have liability protection in case someone is injured on my property?

These are just some of the questions that you should ask yourself when selecting your homeowner’s policy. The two main factors are the type of insurance policy and the level of coverage. There are many different benefits and features that you can select in order to tailor your homeowner’s policy for your own unique needs.

Finding the right policy to protect your home: we can help

When it comes to choosing your homeowner’s policy, you can rely on the team at Westco Insurance LLC. We are proud to serve Colorado Springs, CO and the surrounding communities. Give us a call for all of your insurance needs. We are here to help!

Everything you need to know about life insurance beneficiaries

Life insurance is often a complicated topic for many people in Colorado Springs, CO.  Of course, no one wants to talk about death, fights among beneficiaries, or the emotional and financial trauma associated with losing a breadwinner. However, it’s always prudent to be prepared financially in case of these unfortunate events.  At Westco Insurance LLC, we recommend learning about life insurance, including beneficiaries, to get the most out of your policy.  Here is what you need to know about a life insurance beneficiary.

What is a beneficiary?

A life insurance beneficiary is any person or entity you choose to receive money from your insurance company as a death benefit when you pass away. You can name one person or several people (up to 10). It can be your spouse, parent, stranger, charity, trustee, a business in Colorado Springs CO, or anyone you want to benefit from your money.

Types of beneficiaries

Life insurance beneficiaries come in two types or “levels”—primary and contingent beneficiaries. The primary beneficiary gets the death benefit if they are available after your death. The contingent beneficiary can only receive the death benefit if the primary beneficiary cannot be found. You should provide clear information to avoid disputes after your death. For instance, if you have named your child the primary beneficiary, indicate whether they are the firstborn and include their exact name, age, and other relevant information.

Revocable and irrevocable life insurance beneficiary

If you choose a revocable beneficiary, it means you don’t need any consent from the current beneficiary to change their name. On the other hand, if you choose an irrevocable beneficiary, you’ll need to seek their permission before changing their name as the beneficiary.

Don’t forget to let your chosen beneficiary have all the information they’ll need to file a claim after your death. If you have any questions or need to learn more about life insurance beneficiaries, feel free to contact Westco Insurance LLC anytime.

Risks Of Not Having Auto Insurance

Driving a car is considered one of the most dangerous everyday activities. No matter how you are experienced in driving and how well you obey traffic rules, there is still a chance that you will be involved in a car accident. For this reason, the best and most efficient way to protect yourself is to get auto insurance. If you decide to skip car insurance and drive without it, there are certain risks that you may face: 

Risks of Not Carrying Auto Insurance

Here is a list of things you should keep in mind if you drive without auto insurance:

  • Risk of receiving a ticket and being arrested. You should know that driving in the state of Colorado without auto insurance is a misdemeanor offense that is punishable by a fine or imprisonment. 
  • Risks of your license suspension. Your driving license can be suspended if you are caught driving without car insurance. In most cases, this punishment will be coupled with a hefty fine. 
  • Risk of facing high costs of repairs in case of car accident. If you cause a road accident, and you do not have car insurance, you will have to cover all the repairs by yourself. Moreover, passengers and other drivers may also sue you for their physical injuries and damages. 

Westco Insurance LLC serving in Colorado Springs, CO – Your Safety Is Our Priority

Do you live in Colorado Springs, CO or any other nearby town and are you looking for auto insurance? Westco Insurance LLC will be glad to help you find a policy you need. Our team will do their best to find a policy that will meet your needs and expectations. If you are ready to get started with an insurance search, feel free to visit our website or give us a call. 

How commercial insurance can save a small business

Small businesses account for 99.9% of all businesses in the country. It is tough being a small business owner. Many small businesses fail every year. Since a small business is any business with under 500 employees, you are probably not aware that most small businesses have fewer than 10 employees. These are the most vulnerable and the most likely to fail. Commercial insurance can add a safety net. At Westco Insurance LLC in Colorado Springs, CO, we help small businesses find the commercial insurance they need to protect their business. 

If something happens to your machinery, inventory, office equipment, or raw materials, your small business could be in danger of going under. Would you have the money you need to replace all these things and get your business back up and running? Would you be able to survive? If the answer is no, to either or both of these questions, then commercial property insurance is what you need to save your small business.

If you were sued by someone who was injured while visiting your business or by a product or service you supply, would you have the money needed to settle the judgment and to pay your legal expenses? If the answer is no, you need to have commercial liability insurance which can pay medical expenses as well as judgment and legal expenses. 

If a covered hazard closed down your business for weeks or months, would you be able to stay afloat in the interim? Could you pay your bills and pay your employees and yourself?  If you have business interruption insurance, you will get the money that you need to meet your routine expenses even though your business is closed. 

Contact Westco Insurance LLC in Colorado Springs, CO, when you are ready to discuss your commercial insurance needs. 

What is a home inventory and why do I need one

Owning a home is what many people aspire to. It is a huge investment and for many, the largest they will ever make. Keeping it safe is what home insurance is all about. In spite of all your best efforts, chances are you will have to file a claim for damages to your home or property.  When you do file a claim, having a home inventory can make things a lot easier. At Westco Insurance LLC in Colorado Springs, CO, we are locally owned and operated, and we strive to make sure that we exceed your expectations. 

A home inventory is a listing of all the contents of your home. It can be a daunting task to create but the help that it provides when you need to file a claim for lost content is invaluable.  

You can do a traditional inventory with a pad and pen, or you can do a digital one, both do the job. You should also take pictures with a traditional inventory especially of any higher-priced items. Do the inventory room by room, opening drawers and closets and writing down exactly what is in them. Include brand names, when possible. Model and serial numbers are helpful with electronics. 

The more details you include the better. Go through your home top to bottom and don’t forget your garage, shed, attic and basement. Having an appraisal for any pricier items is important. Attach any sales slips that you have to the inventory. Take at least one picture of every room but more is even better. 

Store the inventory away in a safe place, preferably off-site. At the very least make sure it is in a waterproof, fire-resistant box or even better on The Cloud. 

Contact Westco Insurance LLC in Colorado Springs, CO for all your home insurance needs. 

Life Insurance: Your Final Gift to Your Loved Ones

Life insurance is like a seatbelt. You know you need it, but hope you never have to use it. It’s not easy to think about one’s own mortality. But rather than thinking about what it means to you, think about what it could mean to your loved ones.

The Gift That Keeps Giving

Purchasing life insurance is actually one of the most important things you can do to protect your family’s future. By purchasing the right kind of life insurance from Westco Insurance LLC in Colorado Springs, CO, you can rest assured that, if something were to happen to take you out of your family’s picture, they will be taken care of.

How Much Life Insurance Should I Get?

The main question that runs through people’s minds is how much insurance is needed? One insurance agent suggested calculating the value of your home plus any unpaid properties such as cars, boats, or other assets, then add around 50,000 just for life’s unexpected events. 

This amount is a good estimate for many people to help them decide how much insurance they should carry, but this will vary from person to person.

The Purpose of Life Insurance

The purpose of life insurance is to have enough money set aside in a policy to allow all of your unpaid debts to be paid off and then an additional amount to allow your loved ones to continue their lives as they knew it when you were alive. 

In essence, getting the right life insurance coverage is the best final gift you could give to your loved ones. It says you care and want them to feel secure and not worry about money.

Beyond Final Expenses

Insurance covers final expenses. Yes. But it also covers all of the other things that your loved ones might lose had it not been for your planning and wise choices regarding life insurance.

To get a quote and discuss your own insurance needs with an expert, check out Westco Insurance LLC, serving the Colorado Springs, CO area. 

Do I Have to Buy Collision and Comprehensive Coverage?

Understanding the basics of comprehensive and collision insurance policies is rewarding if you own a car in Colorado Springs, CO. You are in safe hands when you decide to seek insurance advice from Westco Insurance LLC, your trusted service provider. The two policies rank among the crucial requirements for car owners. 

While most states do not consider the two as mandatory, they come in handy when you find yourself in various hard-hitting situations. Insurance institutions sell the policy under one package, covering your car damages. In some instances, your agency goes to the extent of replacing your car if the situation demands that. However, the policies do not compensate for your injuries.

What Makes the Difference?

Collision insurance will compensate the cost of repair if it gets damaged on the motion. On the other hand, comprehensive policy covers aspects such as theft, vandalism, and natural calamities. You have the liberty to purchase the two insurances separately or drop one, keeping the other.

Is It Necessary to Buy Both Insurance Policies?

Most drivers pay for collision insurance and comprehensive insurance. However, to some, it feels unnecessary to have both at ago. If you are servicing a car loan, you will do better with both, as most lenders will request the two until you settle the last coin. The approach serves as security for the lenders if anything happens to the car before clearing the loan.

Is It Advisable to Drop the Policies?

After paying the loan or lease fee, you have the liberty to choose between comprehensive insurance and collision insurance. In addition, you can continue working with both options if you deem it necessary. The current value of your car is enough to let you decide what you want. If the level of depreciation is too high, dropping one policy is a wise idea.

Forfeiting additional policies when you notice that they are less relevant saves you money. However, seek professional advice before making such decisions. Contact Westco Insurance LLC in Colorado Springs, CO, to find all the answers you need about your policy today.

Required Commercial Insurance Coverage in Colorado

Like many states, Colorado dictates the kind of commercial insurance that Colorado business owners must-have. Two types are required for most businesses in the state. If you are unsure that you have all of the insurance coverage that your business needs, call us at Westco Insurance LLC in Colorado Springs, CO.

Workers’ Compensation Insurance

This type of insurance is required for all Colorado businesses that have employees. It doesn’t matter how many employees you have. It would be best if you had this coverage type for all of them. According to the state, even if you haven’t formally hired someone, if they do work for your company, they are considered to be employees. Your workers’ compensation policy pays for injuries and illnesses that a worker gets while at work. This protects your business from having to pay all of the medical bills directly. 

Commercial Auto Insurance

For businesses that own one or more vehicles, commercial auto insurance is required for those vehicles. Several types of coverage must be in these policies. These include bodily injury liability and property damage liability. Another type of insurance is recommended for vehicles that you use for business but are not owned by your business. This is called hired and non-owned insurance. 

Other Liability Coverage

There are several other types of commercial insurance that provide liability coverage. Though the state does not require them, they are highly recommended for many types of businesses. This includes a general liability policy that covers many different types of liability. Cyber liability insurance can help tremendously if there is a data breach of your system. 

Get Your Commercial Coverage

To keep your business compliant with Colorado laws, make sure you have at least the required amount of commercial insurance your business needs. If you want to know more, call us at Westco Insurance LLC in Colorado Springs, CO.

The Importance of Home Insurance

Regardless of whether you are purchasing a new home or recently paid off your mortgage, you may wonder if purchasing home insurance in Colorado Springs, CO is a good investment. Remember, your home is one of the most valuable assets you have, and homeowner’s insurance helps protect the investment you have made.

If you still don’t know if you should purchase homeowner’s insurance from Westco Insurance LLC, keep reading. Some of the top reasons to do so can be found here.

It’s Required

In some situations, homeowner’s insurance isn’t an option. If you have a mortgage, your lender will require you to have this protection in place. Before funding or refinancing your mortgage, the lender will likely require proof of proper insurance. This is to ensure the investment being made is protected if your home is destroyed or damaged.

Protection for More Than Your House

While a typical homeowner’s policy will protect your house, it will usually cover more than just the structure. Some policies include everything from your personal items inside and outside the house, the outbuildings on your property, and even medical bills if someone is injured while on your property.

Deductibles and Limits

Remember, homeowner’s insurance coverage comes with limits. This is the max amount of coverage a policy will provide. When choosing coverage limits, make sure to think about things like the possible costs of rebuilding your home or replacing everything inside the home. This will help ensure you have the amount of coverage needed.

If you are ready to purchase homeowner’s insurance, make sure to consider what you need. You can also search for Colorado Springs, CO policies and compare the options from reputable companies like Westco Insurance LLC. Knowing what to consider and why insurance is so important is the best way to ensure your home is properly covered and protected.

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Why work with us?

  • Locally owned and operated.
  • Policies that meet & exceed expectations.
  • Get an Annual Policy review.
  • We shop top carriers to find the best rate.
  • Solutions for complex situations (in the trees, too far from fire department, T-lock shingles, manufactured homes, etc.)
  • Dropped by your current carrier? We’ll find you a new one.
  • Lower hail deductibles
  • No “cosmetic hail exclusions”
  • Standard and non-standard auto rates/ SR22
  • A percentage of all profit goes back to Charitable causes

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