Three Myths About Colorado Flood Insurance

There are many misconceptions about flood insurance and what it covers. While many homeowners understand that the National Flood Insurance Program (NFIP) handles this coverage in most areas, you may wonder where to get it. If you want to know more about flood insurance in Greeley, CO, turn to the helpful team at Maanen Insurance Group. We’ve compiled the three most common myths about flood insurance in the Rocky Mountain state to get you started. 

Myth #1: You Can Only Get Flood Insurance if You Live in a Floodplain

If you live in a floodplain, your mortgage lender will probably require you to purchase flood insurance. Fortunately, Greeley is a member of the National Flood Insurance Program (NFIP), meaning anyone living here can seek coverage through the organization. Keep in mind that it takes up to 30 days for coverage to kick in.

Myth #2: Homeowners Insurance Covers Flood Damage

In most cases, homeowners insurance won’t cover flood damage. Instead, you need a flood insurance policy that you can purchase separately. Speak with your agent to find the right coverage for your home or business. Because of a potential coverage delay, purchasing flood insurance as soon as you buy your home is a good idea.

Myth #3: If Your Property Has Previously Flooded, You Can’t Get Insurance

You can protect your business, apartment, or home against future flood damage, even if it has previously been damaged. Greeley, CO, and other member communities offer residents access to the National Flood Insurance Program (NFIP), so they don’t have to stress about potential damage from natural flooding or other events. 

You can’t always rely on FEMA to reimburse you, even if the government declares a national emergency. Contact the agents at Maanen Insurance Group to learn more about flood insurance coverage in Greeley, CO. 

Why is Flood Insurance Important?

As a homeowner, there are not too many things worse than watching water enter your basement, crawl space, or house due to flooding. Many homeowners have incorrectly assumed that flooding is included in their regular home insurance policy, but that is not usually the case. Our agents at the Maanen Insurance Group serving the Greeley, CO area want you to know that both flood and earthquake insurance policies can be added to your home insurance policy so that you will be covered if a disaster occurs.

What Does Flood Insurance Cover?

A flood insurance policy will help cover the structure of your home and any of your personal belongings, appliances, electronics, furniture, and other items affected by a flood. Since more flooding occurs throughout the United States each year, it is better to be safe than sorry and have a flood insurance policy in place, even if you do not live in a flood-prone area.

Your house is probably one of the most significant investments of money, time, and energy you will ever make, so you will want to ensure that it is adequately covered for all different types of situations, including flooding.

Flood insurance policies are designed to cover up to a certain amount of the value of your property. This comes in handy if a flood, hurricane, or other weather event happens and causes flooding in your house.

Contact Maanen Insurance Group

To create the best flood insurance policy for you and your home, contact our agents at the Maanen Insurance Group serving the Greeley, CO area today and get the peace of mind you deserve.

The Best Ways to Protect Your Small Business

As a small business owner, you’re probably aware of the many vulnerabilities you may be open to. Luckily, the Maanen Insurance Group in Greeley, CO team understands what you’re up against and is here to help you find the best ways to keep your business safe. Let’s take a closer look at just some of the ways you can be sure that your business has the resources in place to stay protected.

Get Serious About Cybersecurity

As technology advances and becomes a more significant part of our lives, so does the risk of data breaches. Make sure you take the time to ensure that you have all of the necessary preventative measures in place through a comprehensive cybersecurity plan. It’s vital that you keep your security practices up to date and properly train your employees in an effort to fend off would-be hackers.

Make Sure You’re Compliant

You need to be aware of countless business rules and regulations for your long-term survival. Maintaining compliance with these laws can ensure that you stay in good standing with both the local and federal governments. Compliance can range from digital and physical security practices to taxes and licenses. Keeping up with your compliance can work to help you avoid headaches in the future.

Help Protect Your Assets With Commercial Insurance

Arguably, one of the most effective ways to protect your assets is to work with a Greeley, CO insurance agent to get the best commercial insurance for your business. There are many different types of commercial insurance, and each company has its own unique risks to consider. To get the best coverage at the best rate, contact the Maanen Insurance Group today for a personalized plan. We can’t wait to speak with you!

What Does Commercial Property Insurance Do?

Commercial property insurance is not a requirement by law for those living in Greeley, CO, but it can help protect you in various situations. If you own retail space, for example, that you rent out to others, this can indemnify you if you have to seek legal action due to nonpayment. Other problems can arise, such as property damage for which repairs are needed or disputes between you and the other party. 

Commercial property insurance is a good option for many business sectors, including automobile repair, wholesale retailers, and companies that house their offices in a building instead of remotely employing workers. Warehouse owners, distributors, and shop owners can also benefit.

Inventory can be stored in sheds, barns, or other structures, and these can suffer loss when affected by the fire. You may also temporarily lose income, and property insurance can help restore some of this to you. Your Maanen Insurance Group representative can review this benefit’s particulars with you. 

If you own a store and come into contact with the general public, you risk a customer slipping and falling and injuring themselves. Your commercial property insurance helps cover costs related to their medical expenses and lost wages. 

High winds or heavy winds can also affect your building, and if you live in an area prone to hurricanes or tornadoes, these can cause severe financial outlay. Commercial property insurance also helps you when you are a victim of theft or of vandalism to keep these costs from coming out of pocket. 

Maanen Insurance Group Can Insure You

We help those living in the Greeley, CO, area and look forward to working with you. Please get in touch with us by phone or online to schedule your appointment to speak with us in person. 

Do Small Businesses Need Commercial Insurance?

If you have heard about commercial insurance, you probably thought it concerned bigger businesses. Although it deals with big companies, there are also types of commercial insurance coverage that help small businesses. We will discuss the answer to the question: do small businesses need commercial insurance?

Why is commercial insurance important for a small business?

Small businesses are more likely to go out of business if something happens, like damage from a natural disaster, lawsuits, liability issues, or damage to inventory. This makes it more important for them to have commercial insurance so that they don’t have to pay out of their pocket and risk going under. There are also some requirements at the federal level for commercial insurance.

If you own a business and have a certain number of employees or more, there is a requirement for worker’s compensation. Workers comp is insurance that covers an employee if they get injured on the job. With smaller businesses come smaller funds. This means that you wouldn’t be able to have the resources to pay for damage, injury, loss of income, loss of inventory, etc., without the help of insurance coverage.

What types of coverage are available?

Below are some of the coverage options that are available for commercial insurance:

  • General liability
  • Property insurance
  • Business interruption insurance
  • Workers Compensation
  • Commercial auto coverage
  • Management liability
  • employee practices liability
  • Errors and omissions insurance
  • Crime coverage

Contact us

If you own a small business or are considering becoming a small business owner, contact us or visit us at Maanen Insurance Group in Greeley, CO for more information.

Is it necessary to have flood insurance in Colorado?

Those that live in the Greeley, CO area should consider purchasing their own home. While this can be a significant investment, it provides many long-term advantages. Along with buying a home, you also need to build a proper insurance plan. This should include getting flood insurance. This type of coverage will be necessary for various reasons when you are here. 

Cover Home

An important reason to always have a flood insurance plan is to protect your home. If you are going to own a home, having the ability to cover significant damage is essential. Protecting against flood damage risk is crucial if you live in an area prone to floods. Most of the time, your home insurance plan will not offer much flood coverage, and flood insurance effectively reduces this risk. 

Comply with Requirements for Coverage

You also will want to have flood insurance so you can comply with the requirements. If you buy a home in a flood zone, your mortgage lender will require coverage as it will protect their collateral. In many cases, you will also have to establish escrow accounts to ensure you continue to remain covered and in good standing. 

If you want to purchase a home in the Greeley, CO area, you need to ensure that you are getting the right insurance. As there are a lot of choices to make when looking for this insurance, starting your search with Maanen Insurance Group can be ideal. The team with Maanen Insurance Group offers any insight you need to build a proper plan that will provide ongoing coverage and protect you if a flood damages your home. 

How to be prepared for a flood

Flooding is one of the biggest natural disasters that can hit a community. If you live in an area prone to flooding, it is crucial to be prepared ahead of time. Here are some tips on preparing for a flood and how Maanen Insurance Group can help Greeley, CO, residents. 

Know About Your Coverage

Many homeowners commonly mistake flood coverage as part of their insurance policy. However, it’s essential to know that most homeowners’ insurance policies don’t cover flood damage. Therefore, it is crucial to get flood insurance for high-risk areas.

Be Prepared Ahead of Time

Always have at least one month’s supply of the necessities. These include non-perishable food, water, medicine, and other essentials. If you have to evacuate your home, it is vital to have these items ready to go.

Have an Emergency Plan

In the event of a flood, it is important to have an emergency plan. This includes having a list of emergency contacts, knowing where to go, and having a plan for your pets. Should you have destruction to your home, you’ll also need to have a plan for where you’ll stay and how you’ll get there. If you are told to evacuate, don’t ignore the warnings if you still have time to leave safely. Flash flooding can quickly cause damage and put you in extreme danger.

Move Valuable Items To Higher Elevation

Moving your valuable items to higher ground is vital if a flood is imminent. This includes important documents, electronics, and anything else that can be easily damaged by water. Remember, heavy items like couches will take longer to move, so don’t wait until the last moment.

Find Out More About Flood Insurance In Colorado

Maanen Insurance Group in Greely, CO offers flood insurance policies that can protect your home and belongings. We would love to talk to you more about our personalized solutions. Get in touch for more information.

Do I Need Commercial Insurance for a Sole Proprietorship in Colorado?

As more people join 37 million business owners in the U.S., they need to consider how they’ll protect their enterprise. It goes beyond a security system or power tools to protect data. They also need to consider protecting themselves, their property, and their reputation. 

Commercial insurance is the best way to cover unforeseen liabilities. However, is it needed if you’re a sole proprietor?

Commercial and Business Insurance

Some company owners are confused about the terms commercial and business insurance. In the end, they’re the same. According to the experts at Maanen Insurance Group in Greeley, CO, this form of coverage protects an organization against primary liabilities. These include:

  • Bodily injury of yourself or customers
  • Property damage to your organization or that of a client
  • Reputational harm against you or the company
  • Advertising errors

Additional Coverage

There are additional policies a business can purchase to maximize coverage. For instance, business interruption insurance helps pay for a company’s expenses when there’s a production outage due to a natural disaster, fire, or vandalism. Cyber liability insurance covers a company when its data is damaged or stolen by cybercriminals. 

Do Sole Proprietors Need Commercial Insurance?

Unlike someone who creates a limited liability corporation (LLC), sole proprietors are responsible for claims, debts, and potential customer issues. Unlike an LLC, there’s no separation between business and personal assets. Thus, sole proprietors could lose everything if a client or other company sues them.

Hence, a sole proprietor needs to purchase commercial liability insurance. To determine the best options, contact a representative of the Maanen Insurance Group in Greeley, CO for additional information. 

Do I Need Flood Insurance?

Even if flooding isn’t common in your area, you may still need flood insurance. At Maanen Insurance Group in Greeley, CO, we offer flood insurance policies that meet the needs of local homeowners. 

Flooding Basics 

Floods are the most common natural disaster in the United States. When you think of a flood, you may picture submerged homes. However, even a few inches of water can significantly damage your home. 

Flooding is more common in some areas, but it can happen anywhere. Heavy rains, spring snow thaws, and hurricanes are common flooding causes. 

Who is Required to Have Flood Insurance? 

Some homeowners are legally required to have flood insurance. These are homeowners in a high-risk flood area who have a federally insured or backed mortgage.

Even if you don’t meet these criteria, your lender can require you to purchase flood insurance as part of the terms of your mortgage. 

Do I Need Flood Insurance? 

Do you need flood insurance? In short, yes. A standard homeowner’s policy doesn’t typically cover flooding. A flood policy will cover damage even if a state of emergency isn’t declared. 

Remember, even a few inches of water can damage your home. If you don’t have flood insurance, you’ll need to pay for repairs out of pocket. 

You may be wondering about federal disaster assistance. This comes in two types. One is a loan, which must be repaid-with interest. The other is a disaster grant, which averages about $5,000 per household. These types of relief will still leave you paying a great deal out of pocket to repair damages if a disaster is declared. 

Flood Insurance at Maanen Insurance Group

If you need flood insurance in Greeley, CO, contact us at Maaneen Insurance Group. We’ll help you choose the best policy for your needs and situation. 

Protect your inventory with commercial insurance

If you are a Greeley, CO business owner who needs to protect their inventory, you can count on the team at Maanen Insurance Group. Covering your company with the right commercial policy is an integral part of keeping your business protected now and in the future. We are here to help!

Protect your inventory with the right commercial insurance policy

Inventory management is a key part of any business’s success. If your company has a significant amount of inventory, it’s important to have the right amount of coverage. When calculating your coverage needs, it’s important to value your inventory at its highest level. This is especially true for seasonal businesses. For example, if you have a large amount of winter sports equipment like snowmobiles but are obtaining your policy in the summer, consider those higher inventory levels.

When you have a local agent that is your insurance partner, these decisions can be made a lot easier. Knowing the level of protection that you need makes choosing the commercial policy more straightforward. A comprehensive commercial policy is the first step in crafting an insurance portfolio that will provide the protection your business needs.

Without an inventory, there is no business. And, if yours is destroyed or damaged during a covered event, it can cause a major disruption to your operations and cash flow. Fortunately, recovering from such a loss is much more manageable when you have the proper protection from your commercial policy. Find out more today to protect your company.

Make sure you have the right commercial policy today

Maanen Insurance Group is here for the Greeley, CO business community. If you need to increase your inventory protection or have any other commercial insurance concerns, call our office today.