Know AAA: Insurance & Financial Services

Insurance & Financial Services—AAA Colorado's independent insurance agency offers auto, home, life and umbrella products from several highly rated national insurers, as well as its exclusive brand, “AAA Insurance.” For a competitive quote, call 866-399-9836, or click on “Insurance” at www.aaa.com. AAA Colorado also offers financial services like the AAA Visa card, certificates of deposit and money market deposits. For credit card information call 866-665-3581 or click on “Financial” at www.aaa.com. For deposit products, call 800-526-7120.

Insurance for home improvement projects

If you're planning a home improvement project this spring or summer, be sure to address the issue of insurance, both yours and your contractors'. You shouldn't get stuck with the bill if someone is injured or something is damaged on your property.

Before the work begins, determine what the increased value of your home will be once the project is completed. A major home improvement project can add significant value to a home. The increase in value will require increased coverage.

In addition, take a look at your liability coverage. If your liability limit is less than the value of your home, it would be prudent to increase that limit. You can purchase an umbrella policy that will provide $1 million or more in additional coverage.

You must also be comfortable with your contractors' insurance coverage. Obtain a copy of their policies or contact their insurance agents directly. Ask for written proof of liability coverage and workers' compensation for any work that will be sub-contracted.

Before you hire professional contractors, confirm with the state licensing board that they are properly licensed. Except for plumbers and electricians, tradesmen paid by the hour may not need a license.

Keep all receipts for the work that has been done. Let your insurance professional know when the project is complete.

 

AAA Connection AAA Colorado Insurance / Financial Services