Five benefits of life insurance that are underappreciated.

Posted on November 20, 2024November 18, 2024 by agentinsure

At Westco Insurance LLC, we are pleased to serve families in the Colorado Springs, CO area with various valuable insurance products. Among these insurance programs is life insurance.

We are here to help answer your questions, explore your options, and secure protection that fits your budget. We can also explain some of the benefits of insurance that may not be fully appreciated.

Here are five aspects of life insurance that you should be aware of.

1. Quick Access to Cash Following a Claim

A life insurance policy can quickly provide needed cash to a family following a death, helping ease the stress of a difficult time.

2. Tax benefits

Life insurance proceeds are generally tax-free, meaning a family would receive the full value of their policy.

3. Accidental death benefits

Many life insurance policies may pay a multiple of the face value should death occur as the result of an accident.

4. Easy to change beneficiaries

The beneficiary of a life insurance policy can be easily changed. This can be helpful in situations such as marriage, divorce, or death.

5. Potential to build cash value

Many whole life or permanent insurance policies have a cash value element that can build equity as payments are made. This is a value that can be tapped into for future opportunities and emergencies. Ask our agent if you want to build cash reserves with your life insurance policy.

Get a Life Insurance Quote Today

Because life insurance premiums are based on the insured’s age and health, it may never be more affordable than right now. If you live in the Colorado Springs, CO area and want to see how affordable it may be, contact us at Westco Insurance LLC.

We look forward to assisting you in protecting your future.

Getting Insurance Coverage for Your Custom or Classic Car

Posted on October 21, 2024October 16, 2024 by agentinsure

Classic or Custom Car Insurance: Protecting Your Unique Vehicle

Owning a classic car or customizing a modern vehicle is an investment in time and money. You need an insurance policy that mirrors your efforts and ownership. At Westco Insurance LLC in Colorado Springs, CO, we can assist you in obtaining a policy that covers your car’s uniqueness while protecting you from liability in the event of an accident.

The Necessity of Classic or Custom Car Insurance

The state of Colorado mandates that all vehicles traveling on public roads have, at a minimum, liability insurance. This means you need to have at least a minimum liability policy on your vehicle. However, there’s more to it than just meeting legal requirements.

A classic or custom vehicle isn’t as easy to repair as a regular vehicle, as off-the-shelf parts may not be readily available. Repairing such vehicles requires a specialized repair shop capable of restoring damage to the body and engine and knowledgeable in sourcing or machining parts.

What Does a Classic or Custom Auto Insurance Policy Cover?

This type of insurance offers coverage for accidents, personal injury, medical payments, and underinsured/uninsured motorists. It also includes roadside coverage so that you can get a tow or other assistance. The major distinction from traditional auto insurance is that this coverage is based on the value of your vehicle and is tailored to its unique repair needs following an accident.

Secure the Coverage You Need to Safeguard Your Investment

At Westco Insurance LLC, we understand the challenges associated with insuring unique vehicles. We specialize in insurance coverage for classics, reproductions, antiques, and customized vehicles. Contact us today to discuss your vehicle, its unique features, and the type of coverage you’re seeking. We’ll help you find a policy that protects your investment and more.

Commercial Insurance Provides Protection for Companies of Every Size

Posted on September 30, 2024September 24, 2024 by agentinsure

Mitigate Business Owner’s Responsibilities with Commercial Insurance

Being a business owner often implies wearing multiple hats and a constant round-the-clock commitment. It can be a weighty role with tasks ranging from talent management to company safeguarding. However, commercial insurance can alleviate some of these responsibilities, offering a safety net for your business. It’s for this reason that entrepreneurs in the picturesque Colorado Springs, CO area rely on Westco Insurance LLC for comprehensive commercial insurance solutions.

Suitable Commercial Insurance for Businesses of Varied Scales

Regardless of the scale of operations, every business, whether a local neighborhood establishment or a large, renowned enterprise, can benefit from commercial insurance. It secures small business owners’ livelihoods and shields larger companies from significant expenses and financial losses. Hence, aligning with professional and experienced agents who can guide you toward the appropriate insurance coverage is fundamental.

Secure Your Peace of Mind Against Business Uncertainties

Business owners in Colorado Springs, CO looking for ways to safeguard their businesses need not lose sleep over it. Our team at Westco Insurance LLC specializes in offering commercial insurance solutions customized to your specific needs. Reach out to us today to learn more about how we can assist in protecting your business. Secure the peace of mind you deserve with the right commercial insurance solutions from Westco Insurance LLC.

Home Insurance: Protecting Your Home, Your Investment, and Peace of Mind

Posted on August 30, 2024August 19, 2024 by agentinsure

Homeowners all have one thing in common: unexpected new home surprises and experiences. It doesn’t matter if you are buying and building a new home or purchasing a preexisting or even older home. There are new experiences with each home you own. One of those surprises, however, shouldn’t include getting the right home insurance and protection for your new abode. That is also why homeowners in and around the greater Colorado Springs, CO area rely on the trusted, friendly, and professional team at Westco Insurance LLC for all their home insurance needs.

Protecting Your Home, Your Investment, and Peace of Mind

When those surprises impact the condition of your home or require significant repairs, insurance could help. When you are uncertain about your new home and what to expect, home insurance can provide the peace of mind to improve your new home experience. Additionally, the need to protect the investment that is your home is another reason why home insurance is a necessary resource for homeowners all across Colorado Springs.

Old or new, homes are often a labor of love and part of the American dream for many people. With the right home insurance partners, homeowners can have a partner to help with that heavy lifting and someone to help them protect those dreams.

Home Insurance Solutions in Colorado Springs, CO

If you are a homeowner in or around the beautiful Colorado Springs, CO, area or need home insurance for your home, we can help. At Westco Insurance LLC, our proven and friendly team of professional agents will help you find the right coverage and protection and without any surprising new home experiences. Contact us to learn more and schedule an appointment today for the home insurance solutions you need and deserve at Westco Insurance.

How Whole Life Insurance Builds a Cash Value

Posted on July 30, 2024July 22, 2024 by agentinsure

There are two principal types of life insurance: whole life and term life. Term life policies are less expensive but don’t build up a cash value. However, whole life policies can, which is an important benefit of this type of life insurance. When you need life insurance, whether it’s whole life or term life, give us a call at Westco Insurance LLC in Colorado Springs, CO.

What Is a Cash Value?

A life insurance policy’s main value is the death benefit paid to beneficiaries when the policyholder dies. However, that isn’t the only value of a whole life insurance policy. These policies also build up a cash value, which is money that the policyholder can use while they’re still alive. The cash value is an amount that builds up slowly in the policy over time. The amount can eventually become enough to help with financial difficulties if they arise. The cash value can be borrowed against and then paid back like any other loan. This can give the policyholder peace of mind because they have this amount available should they ever need it.

How Cash Value Grows

The policyholder pays the premiums regularly. Over time, the insurance company uses this amount to invest. As they make a profit on that investment, a small portion of that profit goes into the policy’s cash value. It can take years for a whole life policy to grow a substantial cash value, but this type of life insurance is a helpful benefit.

Get a Whole Life Insurance Policy

If you’re interested in helping your loved ones financially when you’re no longer here, you need life insurance. Call us at Westco Insurance LLC in Colorado Springs, CO to get started.

Differences Between Minivans and SUVs For Growing Families

Posted on June 28, 2024June 21, 2024 by agentinsure

If you have a growing family and are considering upgrading shortly, there are a few things you need to remember when comparing SUVs and minivans. They usually carry about the same number of people, but then they start to shift.

Sliding Doors

SUVs will all have the standard opening door that opens out and requires your passengers to climb in on either the left or right side. These are the only door options, even if they have a third row in the SUV. With minivans, most models have large sliding doors on one or both sides that open up and make it easy for your passengers to get to the middle of the third row.

Height Difference

A minivan is usually lower to the ground than a car or sedan. This is considered to be easier than most SUVs, which sit several inches higher. If you have tall family members, a low-riding minivan could pose a problem, or a family full of shorter individuals may not find a tall SUV ideal.

Fuel Efficiency

If you’re considering your gas bill when you purchase your next vehicle, you might want to opt for a minivan. They get better fuel efficiency because they are equipped with smaller motors than some of the larger SUVs. This can give you the space you need and help you with the expenses required to care for your family.

Cargo Space

If you have to haul as much sporting equipment, groceries, and other items as you do kids, you may want to compare the cargo spaces between minivans and SUVs. SUVs with a third row have to sacrifice cargo space, whereas minivans have three rows and room to carry around precious cargo.

If you’re in the Colorado Springs, CO, area and considering getting a new auto insurance policy, contact our team at Westco Insurance LLC today for your quote.

Is Commercial Insurance Necessary For Online Business?

Posted on May 27, 2024May 24, 2024 by agentinsure

Protecting your business online is an important issue for any business with a digital footprint. Our expert team at Westco Insurance LLC is committed to providing the residents in and around the Colorado Springs, CO area with the best products and services. Let us work with you to help you get the peace of mind you need.

The Protection of Online Commercial Insurance

On the subject of web-based companies, one may wonder if insurance for commercial purposes is necessary for entrepreneurs. Although virtual operations represent an excellent opportunity for expansion and impact, many require commercial insurance protection when we consider the risks involved. With policies covering cybersecurity losses, data breaches, and even lawsuits, commercial insurance companies protect online businesses from financial blows after the setbacks of cyber threats.

Commercial insurance in the form of cyber liability insurance encompasses comprehensive protection against data breaches that come at exorbitant costs, while general liability insurance will protect businesses against lawsuits that have their source in advertising injury or product liability claims. Not only does recognizing the necessity for a commercial insurance shield for online companies continue to indicate a sense of economic responsibility, but it also shows that you care about the business’s long-term success. In an era when the digital landscape continues unfolding and risks remain abounding, cyber insurance becomes the ultimate and wise choice for a modern-thinking businessperson.

Commercial Insurance Near Colorado Springs, CO

Don’t risk threats and liability associated with operating online. Get the guidance and support you need to find the right insurance policy for your needs. Our team at Westco Insurance LLC is standing by to answer your questions and walk you through the process of finding the right policy. Please call or stop by today to get more details.

Are Your Liability Risks Increasing?

Posted on April 26, 2024April 24, 2024 by agentinsure

The Colorado Springs, CO, area is a terrific place to call home. There are plenty of outdoor recreation opportunities, and the scenery is exceptional. However, if you are a homeowner in the area, you may not be aware that your liability risks may increase.

Westco Insurance LLC wants you to be aware of the potential growing liability risks you may be facing.

Pets

Dogs, especially larger dogs and breeds that may be considered aggressive could increase your risk of a liability claim. If you own or are considering adding a dog to your family, ensure your home insurance company is aware.

Attractive Nuisances

An attractive nuisance is a feature of your property that could attract unwanted visitors and potentially create liability issues. These include playground-style swings and equipment, pools, outdoor hot tubs, and trampolines. Trampolines, for example, can be such a danger that many companies will not offer home insurance for property owners who have them.

Growing Number of Visitors

The odds are that more people will enter your property. These may include modern conveniences like grocery and dinner delivery services. A slip and fall or a trip that causes an injury can be costly.

Lawn Care

As more homeowners discover the value of having a lawn care service take care of their yards, they may not realize their liability risks are increasing. Uneven areas, holes in your yard, or even debris could cause an injury for which you may be held responsible.

Get a Home Insurance Review Today

If you own a home in Colorado Springs, CO, or the area, we encourage you to contact us at Westco Insurance LLC for a homeowners’ insurance review. We’ll examine your liability coverage to ensure you are properly covered for today’s circumstances. Contact us for your no-cost, no-obligation insurance review and price quote today.

Flexibility of Owning Whole Life Insurance

Posted on March 29, 2024March 19, 2024 by agentinsure

One of the reasons more families in the Colorado Springs, CO, area are choosing Westco Insurance LLC is that they know they can get answers. They can get answers to simple, straightforward, and complex questions. Many questions relate to the difference between term insurance and whole life or permanent insurance.

Whole life insurance provides lifelong coverage and frequently builds value. This provides one of the most significant advantages of whole life insurance: flexibility.

Because permanent insurance builds cash value, it can be used to secure a low-interest loan against its value in the future. The cash value can be used to make premium payments should you experience lean times in the future. A whole life insurance policy can even be cashed in at some future date to help you through a challenge or take advantage of an opportunity. Some even use the cash-building feature of a permanent life insurance policy to use as a savings account, perhaps helping with college costs.

Your policy accumulates value all the time and provides valuable life insurance protection. A whole life insurance policy may also have other flexible benefits, like a premium waiver, accidental death benefit, guaranteed insurability, and more.

Before choosing life insurance programs based on price alone, learn more about the benefits and flexibility of whole life insurance.

Contact Us for a Quote Today

To learn more about term and whole life insurance and to get a quote for each to compare, contact Westco Insurance LLC of Colorado Springs, CO. We can show you the differences after you answer just a few questions. Contact us today and get the peace of mind you deserve with life insurance from Westco Insurance LLC.

Why Does the Type of Car I Drive Dictate My Auto Insurance Rate?

Posted on February 15, 2024February 14, 2024 by agentinsure

If you’re a Colorado Springs, CO resident and you’re in the market for a new car or truck, you’ve probably got something specific in mind. If you’re trying to keep your insurance rates as low as possible, you may want to avoid certain vehicles that are known for having higher auto insurance rates. Many people fail to understand why the type of car you drive dictates your auto insurance rate. Here is an overview that provides an answer.

How Much is Your Car Worth?

The more expensive a car or truck is, the higher your insurance rates will be for that particular vehicle. Why? A car or truck with a higher worth will obviously cost more to replace or repair if damaged or destroyed. This is why insurance companies charge more to cover more valuable vehicles, because if your car were to sustain damage, the payout would likely be much higher.

Additional Reasons for a Higher Rate

The worth of your car isn’t the only thing that determines your auto insurance rate. Some other aspects that insurance agencies take into consideration are whether your vehicle model is frequently stolen and what your vehicle’s level of performance is, such as top speed, level of acceleration, and more.

As you can see, there isn’t a single reason why the type of car you drive dictates your auto insurance rate. If you’re seeking a new auto insurance provider in the Colorado Springs, CO, area, Westco Insurance LLC is accepting new customers. We pride ourselves on providing the best coverage possible for our customers, and we try to keep our rates affordable. Contact us today for a quote, and we’ll gladly welcome you to the Westco Insurance LLC family.

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