Auto and Home Insurance in Canon City Colorado
Canon City may be known as the “Corrections Capital of the World,” but it is much more than that to the people who live and work there. Located in the Royal Gorge Region of Colorado there are many attractions and recreational activities that bring many tourists to the region every year. With all the fun, it is hard to think about mundane items like home and auto insurance. However, it is important that you always maintain both of these to protect yourself financially when things like auto accidents or home fires happen.
Whether you are buying insurance for the first time or shopping around to get better coverage, home and auto insurance should meet your immediate needs. Getting the best price you can for the right coverage you need is also a plus. Knowing what you need when you start shopping around for home and auto insurance will help you get the best possible coverage at the best possible price. However, before you shop, you need to know where to look for insurance. What questions to ask and what information you need.
Where Do I Start
Quotes give you an idea of what your premiums will be for a particular coverage with a certain insurer with the preliminary information you give to your agent. A good rule of thumb is to get at least three quotes before buying insurance. Most independent agents will be able to shop multiple carriers for you. These carriers love for you to bundle your home and auto coverages together and often offer significant discounts for doing so. To start a quote or see the companies we write with, click here.
Canon City Home Insurance Policies
The coverage you have depends on the type of policy you have. Unlike auto insurance, where the policies are pretty much the same. Homeowners policies can be quite different, depending on the “form” number. The most popular types of homeowner policies are:
- HO1: Basic Named Perils Policy – The HO1 Home Policy offers the most basic and simple protection available, covering only ten specific perils.
- HO8: Basic Market Value Policy -The HO8 Policy is another bare-bones policy. This policy will only cover you for losses from the same ten perils listed in the HO1 policy. The difference being the HO8 policy covers your home for market value instead of the cost to replace it. HO8 policies are actual cash value versus replacement cost.
- HO2: Broad Named Perils Policy -The HO2 Home Policy provides broader coverage than the HO1 policy. It still explicitly lists every peril the policy protects you against but adds six more perils to the list. The H02 protects both your dwelling and your personal property.
- HO3: Basic Open Perils Policy-The HO3 Home Policy is a hybrid of an open perils policy and a named perils policy. This is the most common type of home insurance policy. This policy covers your dwelling for anything and everything that could happen to it other than explicitly excluded events, while your contents have coverage for the sixteen perils covered in the HO2 policy.
- HO5: Open Perils Policy-The HO5 Home Policy is an open peril policy on both the dwelling and the contents. Covering your home for anything and everything that could occur, minus the same exclusions listed in the HO3 policy. The HO5 differs from the HO3 as it covers your contents for open perils. The HO3 provides coverage for your contents for the sixteen named perils.
There is no better way to understand your homeowner policy than to read it!
Auto Insurance for Canon City
Colorado motorists must maintain liability coverage at the following minimums: $25,000 per person for bodily injury, $50,000 per accident for bodily injury,$15,000 per accident for property damage. This means anybody driving a car must have a liability policy with at least these limits.
Many independent agents offer a comprehensive range of auto insurance coverage options. Ranging from affordable solutions only covering the legal minimums to full coverage products that include rental reimbursement and roadside assistance. Some of the most popular policy options are:
- Collision insurance pays after your deductible for damages to your car caused by an auto accident.
- Comprehensive insurance pays after your deductible for non-crash-related damages following a covered loss.
- Medical payments coverage pays for medical treatment due to accident-related injuries.
- Towing and roadside assistance offers help in the event of a breakdown or debilitating car crash.