Name: WestCo Insurance LLC
Address: 9235 N Union Blvd, Ste. 150 #385, Colorado Springs, CO, 80920
Telephone: 719-726-0318

Frequently Asked Questions about Home Insurance

Posted on April 28, 2023April 28, 2023 by agentinsure

Home insurance is an essential part of buying a home. Without home insurance, you could face great financial devastation if something happens, such as a fire, vandalism, a tree falling on your house, etc. Although home insurance is important, many people have questions about it that they might be afraid to ask. Here are some of the most frequently asked questions about home insurance.

Is home insurance required in Colorado?

No. Home insurance is not required in Colorado by law, but it might be required if you hope to use a lender to buy your house. Because the house cost is so high, lenders might require you to purchase home insurance. This is because the high cost of a house can be a high risk for the lender.

Why is home insurance so important?

Home insurance is important for a few reasons. The first reason is that your lender might require you to have home insurance before qualifying for a mortgage. The second reason is a home is an expensive investment. It would be best if you had home insurance to protect that significant investment in case something leaves your home needing costly repairs.

What does home insurance cover?

Home insurance covers the following areas:

Dwelling coverage
Other structures on the property
Personal belongings
Liability coverage
Addition living expenses

What is not covered by home insurance?

Home insurance does not cover mold, insect damage, animal damage, maintenance, regular wear and tear, floods, earthquakes, or damage from sewer backup. However, you can purchase separate insurance for floods and earthquakes if you live in an area prone to either.

Contact Westco Insurance LLC

If you live in Colorado Springs, CO, and are in the market for home insurance, we can help you. Stop by or contact us at Westco Insurance LLC to get a quote today.

How Can Someone Claim a Life Insurance Benefit as a Beneficiary?

Posted on March 31, 2023March 31, 2023 by agentinsure

At Westco Insurance LLC in Colorado Springs, CO, we’re here for all life’s ups and downs. Losing a loved one is one of the most challenging things we can go through. In the haze of grief, figuring out funeral arrangements, execution of an estate, and claiming life insurance benefits can feel overwhelming. That is why we want to make claiming a life insurance benefit as a beneficiary as smooth as we can.

How to claim a life insurance benefit as a beneficiary

When talking about life insurance benefits, they usually refer to the lump sum payment provided to the beneficiary after the policyholder dies. This payment is also known as a "death benefit." To receive the death benefit, a beneficiary should contact the insurance agent working with the life insurance policyholder. Since beneficiaries might not always have this information handy after the policyholder’s death, a call to the insurance company should also be able to get the ball rolling on this process.

Before contacting the insurance company or agent, getting all the appropriate files in order is best. As an insurance company, we need a copy of the policyholder’s death certificate. We’ll also need to verify your identity as the beneficiary. Once we have gone through all the steps to verify the death and beneficiary details on our end, we can pay out the death benefit according to the life insurance policy terms.

To submit a claim as a beneficiary or discover how our life insurance policies can be a parting gift for your loved ones after you pass on, call our office at Westco Insurance LLC in Colorado Springs, CO today!

How much life insurance is enough?

Posted on February 28, 2023February 28, 2023 by agentinsure

Life insurance is not the same for any two people. How much life insurance is right for you will not be suitable for someone else. Your life and dependents will determine the amount of life insurance right for you. We are here to offer our expertise at Westco Insurance LLC in Colorado Springs, CO. As independent insurance agents, we work for our customers, not the insurance companies.

Several different things factor into how much life insurance you need. All of them are important.

How many dependents do you have?

The number of people who depend on you to provide for them is important when determining how much life insurance you will need. Do you provide for elderly parents or a dependent sibling? Do you have a spouse or partner, and do you have children? It costs more to care for multiple people than it does for only one person.

How many years will you need to provide for?

If you are supporting elderly parents or a sibling, how many years will that be? Do you have a spouse or partner, and are they employed? Do you have children, and what are their ages? Young children will require longer care.

What is your annual income?

Your yearly earnings will significantly determine how much life insurance you need.

Once you have the answer to the above questions, you will know where to begin your calculations. For instance, if you have young children, you may need to provide for them for 15 years, and if your income is $100,000, that means 1.5 million in life insurance. This is a rough estimate; consider your current lifestyle and what it would cost to maintain.

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

What You Need to Know About Liability Insurance for Commercial Transport in Colorado Springs

Posted on January 31, 2023January 31, 2023 by agentinsure

Do you, a business owner in Colorado Springs, CO, need liability insurance for your commercial transport? If so, you’ve come to the right place. Let’s break down everything you need about liability insurance for commercial transport in Colorado Springs.

What is Liability Insurance?

Liability insurance protects businesses from financial losses resulting from claims made against them because of negligence or injury sustained by a third party. This coverage helps cover legal fees, medical expenses, and court costs associated with such claims. In short, it provides financial protection in case of an accident or injury on your premises.

Who Should Have Liability Insurance?

Anyone who owns a business or operates commercial transport should have liability insurance. This includes buses, trucks, delivery vans, and other vehicles used for work purposes. It’s essential if your business involves transporting passengers, as this increases the risk of potential accidents and injuries occurring. If you’re unsure if you need commercial liability insurance for your vehicle, contact Westco Insurance LLC, a Colorado Springs, CO, insurance agency. We can help you determine the best coverage for your needs.

What if I Use My Personal Vehicle for Work?

If you use your vehicle for work, such as making deliveries or transporting passengers, ensure adequate liability insurance. This will protect you from any damage that may arise if an accident occurs caused by your negligence.

Where Can I Get Liability Insurance?

If you want liability insurance for commercial transport in Colorado Springs, CO, contact Westco Insurance LLC today! Our experienced agents will be happy to answer questions regarding your options and help you find a policy that meets your needs and budget. Don’t wait—contact us now!

Homeowners’ Insurance – Don’t Be Without It

Posted on December 30, 2022December 30, 2022 by agentinsure

Are you thinking about a home purchase? Will you have a mortgage on the property? If so, homeowners insurance coverage is mandatory. Westco Insurance LLC, serving the Colorado Springs, CO area, can provide the necessary coverage for your purchase.

This coverage is important because it pays for damage and losses to your property in the event of a burglary or fire. When you have a mortgage, the lender wants his interests protected. Homeowners insurance will do that. That is why a lender will require proof of this coverage.

As soon as you sign the contract for the home purchase, it is a good idea to begin shopping for homeowners insurance. That way you have time to get the policy in place prior to closing on the property.

There are three major reasons why a homeowners insurance policy is needed.

It provides comprehensive coverage
It provides protection against lawsuits
It protects the equity you have in your home

Four things make up a standard homeowners insurance policy. It includes coverage for the dwelling (home), other structures (garage, storage shed), personal property, and liability coverage.

There are some things that typically are not covered by homeowners insurance. A standard policy will not include coverage for valuable artwork, jewelry, collectibles, damage caused by a flood or earthquake, and identity theft protection.

Loss of use and medical payments coverage is also included in the policy. Loss of use coverage kicks in if you cannot occupy your home after a covered event occurs.

The medical payments portion of the policy covers the medical bills of those who are injured on your property but does not include members of your household.

If you are thinking of purchasing a home, contact the professionals at Westco Insurance LLC today for a no-obligation quote or answers to any questions you have. You will be glad you did.

Why should you get life insurance in Colorado?

Posted on November 30, 2022November 30, 2022 by agentinsure

All people must spend time properly assessing their insurance needs in the Colorado Springs, CO area. Most people will have coverage for their homes and vehicles, but there are other valuable types of coverage to get as well. A type of insurance all people here need to have is life insurance. There are various reasons why the average person in this state should get life insurance.

Provide Financial Support to Dependents

An important reason for all people to obtain a life insurance plan in Colorado is so they can provide financial support for their dependents. If you have dependents, it is imperative that they are covered in the future. The best way to ensure they have financial resources if you were to pass away is by getting a life insurance plan and naming them as beneficiaries of the policy.

Invest for Future

You can also use a life insurance plan to invest and save for the future. Whole life insurance is increasingly considered an excellent addition to an investment plan. Not only will you have life insurance protection, but a portion of your payment will build into an account that grows in value over the years. This investment comes with low risk and can be used as part of any diversified strategy.

When you want life insurance in the Colorado Springs, CO area, it would be a good idea to speak with someone you can trust. A great company to speak with when looking for insurance is Westco Insurance LLC. There are a lot of choices to make as you are looking for insurance, and Westco Insurance LLC will help you build your next plan. This can give you the support you need to build a new insurance policy.

Factors That Affect the Type of Auto Insurance I Should Buy

Posted on October 28, 2022October 28, 2022 by agentinsure

Colorado residents are required to purchase liability automobile insurance that covers the other party’s bodily injury as well as property damage incurred in a wreck. This is because Colorado is an at-fault state, and you are liable for expenses resulting from an accident you cause.

A minimum of $25,000 coverage is needed for bodily injury and death for one individual and $50,000 for bodily injury and death per collision. You also need to carry $15,000 worth of indemnification to reimburse for costs related to the other party’s vehicle and possessions.

Other factors may influence your decision to purchase additional insurance products, such as owing a balance on your car. Your lender will almost always require that you purchase full coverage, and this protection will include comprehensive and collision insurance.

Collision indemnification pays for repair expenses to your car related to striking an object or other vehicle while in motion. Comprehensive reimburses you for damages that are not associated with an accident. This can be helpful if you live in a location with severe weather or are in an area prone to vandalism or theft.

If you are someone who travels extensively, you may consider other types of indemnification, such as underinsured motorists or uninsured motorists. You can ask your Westco Insurance LLC representative for more details about how this can provide a shield for your financial assets in the event you are involved in a wreck caused by a person with no insurance. When there is a significant gap between market value and what you owe, gap insurance can help cover the rest.

Westco Insurance LLC aims to provide Colorado residents with superior service in meeting all their insurance needs. We invite you to reach out to us by calling, stopping by our office, or contacting us online.

Find Out What Risks Small Restaurants Face

Posted on September 29, 2022September 29, 2022 by agentinsure

Small food service businesses have to face many risks to stay afloat. Many of these risks are unique to the food industry and can be difficult to anticipate or prepare for. Westco Insurance LLC wants to tell you about some of the most common risks that small restaurants face in Colorado Springs, CO, and how you can protect yourself from them.

Foodborne Illness: A Top Risk for Restaurants

Restaurants must be very careful to avoid foodborne illnesses, which can majorly impact their business and reputation. If a restaurant does not properly cook or handle food, it can quickly become contaminated and make people sick. This is a primary concern for customers, as they do not want to risk getting sick from eating at a restaurant.

The Risk of Fire in a Restaurant

There are many potential fire hazards in a restaurant kitchen, including deep fryers, stoves, ovens, and grills. In addition, flammable liquids such as cooking oil and grease are often used in the kitchen. If these liquids are not properly stored or handled, they can easily catch fire. Furthermore, electrical appliances such as microwaves and toasters can also be fire hazards if they are not used properly.

The Risk of Customer Injury at a Restaurant

Customers may become injured in a restaurant due to several potential hazards. Restaurants have many troubles, including hot surfaces, sharp objects, and slippery floors. If customers are not careful, they may burn themselves, cut themselves, or fall and hurt themselves. Furthermore, there are typically many people moving around in close quarters at restaurants, which increases the risk of customers being bumped or knocked over.

Westco Insurance LLC in Colorado Springs, CO is a commercial insurance company that offers a wide range of insurance products and services to businesses in the area. We are dedicated to providing our clients with the coverage you need at the most competitive rates. For these reasons and more, your small restaurant business needs insurance protection.

Does Our Home Insurance Cover Renovations?

Posted on August 31, 2022August 31, 2022 by agentinsure

A home renovation can be expensive, so many homeowners opt to find helpful resources such as a home insurance agency. At Westco Insurance LLC, we are interested in providing home insurance to property owners living in Colorado Springs, CO. Our insurance plans cover many scenarios, including major home renovations for catastrophic events.

What is a Renovation Insurance Policy?

Homeowner’s insurance is meant to pay for damages to your home, particularly in a dangerous event. This could be a fire, a flood, or a burglary. These situations often result in a loss of belongings or weakening of the house’s structural integrity. When structural damage does occur, it becomes necessary for the homeowner to repair or replace the areas that have been damaged. This could be anything from a ruined carpet to a leaky roof. Because this process is usually expensive, homeowners often turn to insurance agencies to pay for the repair costs.

This is where renovation insurance steps. This type of homeowner’s insurance policy covers the cost of a home renovation project. However, a renovation insurance plan may not cover situations outside of a hazardous event, so you’ll need to check with your insurance agent about what situations will be covered.

How to Find Renovation Insurance in Colorado Springs, CO

Westco Insurance LLC provides quality renovation insurance to the homeowners of Colorado. If your home has experienced structural damage due to peril, feel free to contact us for more information. Contact Westco Insurance LLC at 719-726-0318 to book an appointment.

Can You Purchase Life Insurance if You Already Have a Pre-Existing Health Condition?

Posted on July 27, 2022July 27, 2022 by agentinsure

At Westco Insurance LLC, serving the greater Colorado Springs, CO area, one of the questions that we are frequently asked about in relation to life insurance is whether you can purchase a life insurance policy if you have a pre-existing health condition. Many people do not start thinking about their death until they are faced with a health condition, so this is a question that is often asked. Here is some information you need to know if you are considering buying life insurance with a pre-existing health condition.

Can You Purchase Life Insurance If You Have a Pre-Existing Health Condition?

Most life insurance companies ask you if you have any pre-existing health conditions on the insurance application. While some companies deny you for having pre-existing health conditions, many will issue you a policy. However, the amount you pay will likely be much higher than someone else with no health conditions.

Should You Disclose a Pre-Existing Health Condition?

If you have a pre-existing health condition, you may think about omitting the information to get approved for a life insurance policy. This is something that should never be done. If the insurance company finds out you lied, and they can subpoena your insurance records, they can cancel your policy and refuse to pay out on the policy if you pass away. You must always be truthful and disclose pre-existing health conditions if a life insurance company asks.

While it may be more challenging and costly to purchase a life insurance policy if you have a pre-existing health condition, many insurers will allow you to buy one as long as you disclose the condition. If you are in this position, Westco Insurance LLC, serving the greater Colorado Springs, CO area, can help you find the best policy for your needs. Call or email us to learn more.

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