Insurance Coverage for the Technology Professionals

Published: August 1, 2018

Technology changes faster than almost anything else in the world today! This is why you need an insurance coverage that takes care of all your needs. All Access Insurance has partnered with USLI to ensure that our technology professionals have the adequate coverage they need. What this does for you is free you up from worry and angst so you can do what you do best. USLI and All Access Insurance are offering solutions for tech professionals/organizations with annual revenues up to $150M. We offer a comprehensive form and competitive pricing for risks with annual revenues up to $150M. We have a vast range of coverage features, including (but not limited to):

  • Cyber Business Interruption and Data Restoration; Cyber Extortion; Punitive/Exemplary Damages; Regulatory Action and PCI Fines/Penalties; 3rd Party Discrimination*
  • Intellectual Property Liability
  • Full Media Liability
  • Full Network Security Liability
  • Hired & Non-owned Auto
  • Personal and Advertising Injury
  • Products Completed/Ops
  • Privacy Liability up to $5M
  • Privacy Liability Expense and Regulatory Defense (1st party Cyber Liability)
  • Property Damage Extension
  • Waiver of Subrogation
  • E&O up to $5M
  • BOP/Business Owners Package/General Liability $1M/$2M
  • Excess/Umbrella over GL up to $5M

*Coverage options we offer on larger risks (e.g. +$2M in annual revenues) Expanded classes within our appetite include:

  • Video Game Developers
  • Computer/Network Security Consultants
  • Point of Sale System (POS) installation/repair/training
  • IT Professionals w/ 100% services in hospitals, including training of EMRS/Network Security Consulting/IT Project Management and more
  • Animation and 3-D rendering for training videos, expert witness testimony, accident reconstruction
  • Manufacturing Execution Systems

All we need from you is:

  • Name
  • State
  • Number of employees
  • Description of operations
  • Annual revenues

Keeping you protected,

Rick

All Access Insurance in Littleton, CO, who represents multiple insurance companies as a “Broker” and provides products for auto, home, commercial, workers compensation, and much more! Call us today for a free quote at (303) 932-1700

Why Our Community Association Director and Officer Professional Liability Insurance?

Published: August 31, 2018

Recently we did a post about the type of Community Association Liability Insurance we offered, but now let’s talk about why you want to consider ours if you already have coverage elsewhere. In this post, we talked about the importance of our Lifetime Occurrence Reporting Provision. This is super important to know about if you are being asked to serve on a Community Association board. You want to make sure you are protected for the decisions you made while serving as a representative of the association.

Why you need coverage

  • As a member of the board of your community association, your personal assets are vulnerable based on your decisions and actions enforcing the governing documents, even long after you left the board
  • Over 60% of the claims against the board of a community association are related to non-monetary issues and can generate six-figure defense costs and persist over many years.
  • Community Associations have an annual budget that is often less than the average cost to defend a claim closed by litigation – often beyond the ability of the board to assess members to cover.

What coverage we offer

  • No exclusion for failure to maintain insurance claims (where available)
  • Defense for Breach of Contract Claims
  • Defense cost for non-monetary claims
  • Defense outside the Limit of Liability – the cost to defend any covert litigation will not reduce your limit of liability
  • Lifetime Occurrence Reporting Provision – unlimited report extension for former directors and officers who are not on the board when coverage is cancelled or not renewed.
  • Third Party Discrimination and Third Party Harassment coverage
  • Employment Practices Liability included for no additional premium for 10 employees or less
  • Automatic coverage for Property Management Company as an insured
  • Business Resource Center – free HR hotline with unlimited calls and no time limits plus discounted HR services such as background checks and online HR training modules

Keeping your protected.

Rick

All Access Insurance in Littleton, CO, who represents multiple insurance companies as a “Broker” and provides products for auto, home, commercial, workers compensation, and much more! Call us today for a free quote at (303) 932-1700

What to Do If You Are In A Car Accident

Published: December 26, 2019

It is the day after Christmas and people are out running around shopping, returning home from the relatives or just running errands as they may have the rest of the week off. 

Being involved in a car accident can happen any time of year but it is always stressful and overwhelming. 

So let’s talk about it now so that if and when you are in an accident, you know what to do. This can help you get the right information from the scene of the accident and protect you from any liability. 

One of our insurance providers, Traveler’s Insurance, has a great accident form here. Print these off and ensure they are in all your vehicle’s glove compartments. This form will help you gather the pertinent info you need. Also, though it seems basic, make sure you also put a pen or pencil in there too. 

Another item you might consider is reflective triangles so that your car is more visible on the roadside following an accident. You will also need your current insurance certificate, vehicle registration and first aid kit. 

If you are involved in an accident, make sure to do these things: 

  • Turn on your hazard lights.
  • Place reflective triangles while being mindful of oncoming traffic. 
  • Check on all involved in the accident. 
  • If able, call 911 if someone needs emergency medical attention. If you are not sure, call.
  • Call the police even if it is a minor accident. This is helpful in case anyone later develops injuries or discovers unseen damage later. 
  • Make sure you get the police deparment’s jurisdiction, and the officer’s name. 
  • Exchange information with the other driver. You will need name, phone, email, license plate number, make model and insurance information. 
  • Get witnesses contact information. 
  • Take pictures of the accident scene & involved vehicles if it is safe to do so.
  • Create a detailed description of the accident. Include date, time, location, weather and road conditions. Note the behavior of other drivers and the condition of other vehicles. Before leaving the scene, write down as much detail as you can. For example, were their headlights, tail lights, brake lights on? Was there preexisting damage you noticed? Recall if the other driver was using their cell phone at the time of the accident. Can you draw a diagram or sketch of the accident scene? 
  • Report your claim to you insurance company as soon as you can. 

Our wish for you is that you stay accident free. But if for some reason you don’t we want to make sure you are reminded of the steps you should follow. 

Keeping you protected.

 

Rick

 

All Access Insurance in Littleton, CO,  who represents multiple insurance companies as a “Broker” and provides products for auto, home,  commercial, workers compensation, and much more! Call us today for a free quote at (303) 932-1700.


 

 

 

Why The Wealthy Should Have Insurance – Part I

Published: December 20, 2019

Something that happens when someone has great wealth is a desire to keep as much as possible in the family by passing along assets to future generations.

Life insurance is a popular way for the wealthy to maximize their after-tax affluence and have more money to pass on to heirs.

Here’s how and why insurance helps:

  1. Life insurance can be a useful financial tool for business owners. 
  2. It is legal to own several whole life insurance policies. 
  3. Life insurance policies are not counted as part of an estate and are not taxed by the federal government. 
  4. A life insurance policy can be sold for its cash value. 

Tax Laws Favor Insurance

Tax law grants life insurance premiums and proceeds tax benefits and allows the rich a way to protect their assets. The proceeds of life insurance are tax-free to the beneficiary. Wealthy people don’t want their deaths to be a financial thicket for their heirs, so the death benefit is a big component of any life insurance strategy. But there are additional advantages to life insurance.

Policy owners with estates of $11.4 million or less (or $22.8 million for couples) can leave this amount to their beneficiaries without having to pay estate taxes as these are the limits in 2019, as per the IRS. But what about individuals or couples with estates worth more than the limits? The proceeds of a large life insurance policy can be used by the heirs to pay a tax bill for those wealthy individuals whose estates surpasses the estate tax exemption threshold. 

Insurance premiums also won’t be subject to estate taxes. For example, if a wealthy individual spends $500,000 for a $2 million life insurance policy, that initial premium payment comes out of the estate and won’t be taxed. To look at the insurance premium another way, the after-tax value of the $500,000 is $300,000, thus for $200,000 ($500,000 premium amount – $300,000 estate tax), the family receives a $2 million guaranteed life insurance payout. That’s a guaranteed return on the premium payment. 

 

Keeping you protected.

 

Rick

 

All Access Insurance in Littleton, CO,  who represents multiple insurance companies as a “Broker” and provides products for auto, home,  commercial, workers compensation, and much more! Call us today for a free quote at (303) 932-1700.


 

Why The Wealthy Should Have Insurance – Part II

Published: December 20, 2019

Business Owners Should Definitely Have It

If an entrepreneur co-owns a business, life insurance can fund a buy/sell agreement in the event of an owner’s sudden death. A family business will benefit from a key person insurance policy. This is insurance on the main person in a small business, usually the owner, founder, or key employees.

This policy protects the firm from going under in the event that key personnel pass on before a replacement is in place. An added benefit of these types of insurance policies is that the premiums are usually deductible as a business expense.

Life Insurance as an Asset

Life insurance is more than a death benefit. Depending upon the type of insurance, it may have a cash value or intrinsic value. Thus, when the insurance is no longer needed, it can be sold as a life settlement.

Whole life insurance, properly structured, can offer steady tax-free dividends. Although not guaranteed, many insurance companies have been around for up to a century. The cash value in the policy also builds up and can be used as your own private bank for a variety of income-producing activities.

Finally, with whole life insurance, your death benefit is guaranteed regardless of your future health. This is important long-term security for the policy owner’s family and heirs.

Life Insurance Strategies

There are a variety of insurance scenarios to choose from. The right one may depend on, say, how your current retirement fund gets taxed. Consider these three examples:

Retirement Plan Funds Life Insurance Strategy

Wealthy individuals’ retirement plan funds—both IRAs and 401(k)s—are taxed twice: First as income and, next, with an estate tax. James has $900,000 in his IRA. To avoid losing a large percent of his IRA to Uncle Sam upon his death, James buys a second-to-die insurance policy with his $900,000. Upon James’ death, his wife receives the $3 million tax-free benefit.

Transfer Current Life Insurance With Cash Surrender Value Policy to Increase Death Benefit

Kevin had a 10-year-old second-to-die insurance policy worth $850,000 with a death benefit of $1.53 million. His advisor recommended he do a tax-free insurance policy exchange. The new policy had an increased death benefit of $3.48 million and there were no out-of-pocket charges.

The Two-Step Annuity Tactic

Sarah buys an immediate joint-life annuity for $1 million, which pays $43,843 annually as long as Sarah and her husband are alive. Next, Sarah uses the annual $43,843 payout to fund a $5.68 million second-to-die policy. In essence, Sarah converted $600,000, the after-tax value of the initial $1 million, into $5.68 million. Finally, both the annuity and death benefits are guaranteed.

We know you want to manage, preserve and grow your wealth. Properly structured life insurance can help with all these goals.

Keeping you protected.

 

Rick

 

All Access Insurance in Littleton, CO,  who represents multiple insurance companies as a “Broker” and provides products for auto, home,  commercial, workers compensation, and much more! Call us today for a free quote at (303) 932-1700.


 

Do You Need High Value Home Insurance?

Published: December 13, 2019

You should consider high-value home insurance if:

  • Your home is worth $750,000 to $1,000,000 or more
  • The home has design elements that are unique, such as if you used an interior designer to decorate your home or an architect designed it
  • Your home is a heritage home or has older construction features not found in common construction methods or practices
  • You own expensive or priceless fine arts, rugs, collections, jewelry, wine, or other special items that are kept in the home
  • You chose highly-priced appliances, fixtures, or decorations to put in your home that is not found at standard stores
  • Your roof is non-standard, meaning it’s a green roof, has an elaborate design, or is made of clay, tile, copper, or metal
  • You have a green home or have invested in environmentally friendly design and construction or heating
  • The features on your property are unique, such as luxurious outdoor living areas, guest houses, swimming pool areas, or special landscaping

Compared to standard home insurance, a high-value plan includes larger policy limits for:

  • Structure repair or replacement coverage
  • Reconstruction costs due to changes in bylaws
  • Money, jewelry, fine arts, antiques, or wine collections
  • Items that are primarily for business use
  • Ornamental or functional landscaping design
  • Living expenses you incur while waiting for restoration
  • Cyber protection to cover lost or stolen digital property

High-value home policies are usually more expensive than standard home policies because of their increased coverage limits and top-of-the-line personalized experience.

To help put the cost of high-value home insurance in perspective, compare it to how you spend money in your personal life. Choosing insurance is a lot like buying shoes or picking a restaurant.

When you look in your closet, do you see shoes that cost less than $100? Or do you have shoes that are worth hundreds of dollars?

If you went out to dinner, would you order the house wine or skip it altogether? Or are you the type of person that will spend a couple of hundred dollars to enjoy a nice dinner and order a la carte?

If you don’t live an average lifestyle, standard insurance that provides “average coverage” won’t be enough to protect or replace your property in a claim. 

Keeping you protected.

 

Rick

 

All Access Insurance in Littleton, CO,  who represents multiple insurance companies as a “Broker” and provides products for auto, home,  commercial, workers compensation, and much more! Call us today for a free quote at (303) 932-1700.


 

Protect Your Possessions with Valuable Items Insurance Coverage

Published: December 11, 2019

Almost everyone thinks that a homeowner's policy will cover all your valuables!

However, policies may provide limited coverage or no coverage for certain items – including generally expensive items.

Consider Valuable Items Coverage For:

  • Jewelry and engagement rings
  • Silverware, china and crystal
  • Antiques
  • Fine art
  • Stamp and coin collections
  • Bicycles
  • Trophies
  • Sound equipment (recorders)
  • Sports equipment (archery, camping, fishing, skiing)
  • Wedding gifts
  • Cameras
  • Computers
  • Musical instruments
  • Golf Equipment
  • Furs
  • Guns
  • Pedigreed dogs
  • Garden tractors
  • Political campaign collections
  • Watches

There are two types of coverage we can offer:

Personal Articles Floater

This itemized coverage can give you some peace of mind knowing your belongings and jewelry may be covered at the time of a loss. Offered as protection just for valuables, policies can be purchased separately. There is no deductible for most classes or types of property and the coverage insures against many risks. This is beneficial for more expensive articles, like an engagement ring or a watch, that may not be covered or with values that exceed coverage that might be provided by a homeowners policy.

Valuable Items Plus Insurance Coverage

Available as an add-on coverage to homeowners insurance, a valuable items plus endorsement can offer higher limits on certain types of valuables and expanded protection. Unlike the personal articles floater where items are individually listed, the valuable items plus endorsement provides blanket coverage that affords protection for a class of property collectively, such as jewelry insurance coverage, up to a certain amount. 

Have your valuables appraised so you will know what they are worth. This will assist us in making a solid decision about your insurance coverages.

Keeping you protected.

 

Rick


All Access Insurance in Littleton, CO,  who represents multiple insurance companies as a “Broker” and provides products for auto, home,  commercial, workers compensation, and much more! Call us today for a free quote at (303) 932-1700.

 

Colorado Car Insurance Tips

Published: December 4, 2019

You could be leaving  money on the table. 

Here are some tips for you to consider as you are getting or reviewing your car insurance policy. 

Not only do you want to have the best coverage but you also want it at the best price. 

All drivers must carry car insurance though many people pick their insurer after they have their car and then don’t review their policy for years. 

Here are a few tips for finding the right policy: 

  1. Check in with your insurance agent annually on yoru policy so you know what you have. Ask them to check your rates. If so inclined, you can check rates from other companies too but make sure you are comparing the same coverage at both places. This is common mistake. Perhaps the price is less but the services/coverages offered may also be less. 
  2. Pick a top-rated company. Make sure your insurance provider has a high rating when it comes to claims, payments and non-claim problems. 
  3. Maintain good credit. Low credit scores may impact your premium. If you aren’t sure how to improve your credit score, you can google “How to improve your credit score” and under the ads will be some useful tips. 
  4. Pick the right deductible. A higher deductible reduces your premium but you also have to pay more out of pocket if there was an accident, regardless of who’s fault the accident was. 
  5. Review your coverage. Check to make sure you have enough liability coverage for bodily injury and property damage. Minimal coverage will give you minimal protection. 
  6. Let your insurance agent know if you milage has reduced. If you have changed jobs or work at home or have become unemployed, you may qualify for a lower premium. 
  7. Watch non-OEM repairs/parts. Make sure the repair shop is reputable and uses original equipment from the manufacturer if at all possible. Some non-OEM parts can fit poorly, are more prone to ruse and might not meet federal safety standards. 
  8. Pick the right car. When buying a vehicle, look at crash reports and get the cost for collision insurance. Vehicle damage and cost for report is a big part of the price of auto insurance. 
  9. Practice good driving practices and handle accidents properly. If you are in an accident, make sure you photograph the crash scene and always call the cops to report the incident. Get the other parties, contact info and a picture of their insurance card. Call your insurance agent as soon as you can. 
  10. Take advantage of discounts. Ask our office today about discounts for your age, marital status, driving record, etc. Sometimes anti-theft equipment and vehicle type can offer discounts. Multiple insurance plans with one company can also often result in discounts. 

What we know is out job is to keep you protected in all cases.

Keeping you protected.

 

Rick

 

All Access Insurance in Littleton, CO,  who represents multiple insurance companies as a “Broker” and provides products for auto, home,  commercial, workers compensation, and much more! Call us today for a free quote at (303) 932-1700.

 

Denver Small Business Saturday is Tomorrow! Nov 30th

Published: November 29, 2019

 Small Business Saturday 2019: Denver Participating Businesses 

Small Business Saturday — it's on Nov. 30 this year — helps local businesses in Denver compete.

DENVER, CO — You may not think about it much, but independently owned boutiques, gift shops, mom-and-pop hardware stores, restaurants and the like in Denver are fighting for survival against malls, big box stores and online retailers.

Small Business Saturday, held annually on the Saturday after Thanksgiving, was created to give them a boost and help level the field of competition. This year, the 10th anniversary of the “Shop Small” movement, the all-local shopping event falls on Nov. 30. in Denver.

Here’s a map of hundreds of local businesses that have signed up so far.

Happy Small Business Saturday shopping.

Keeping you protected.

 

Rick

 

All Access Insurance in Littleton, CO,  who represents multiple insurance companies as a “Broker” and provides products for auto, home,  commercial, workers compensation, and much more! Call us today for a free quote at (303) 932-1700.


 

Why Small Businesses Get Sued

Published: November 27, 2019

As a small business owner, you’re likely more concerned with cash flow, sales, and managing employees than getting sued. However, the reality is that small business owners will face the threat of a lawsuit at least once over the life of their business, and the financial impact can be devastating. 

Business owners who’ve had to pay legal damages say the costs nearly put them out of business. But the effects of litigation can go far beyond crushing financial losses. A lawsuit can harm your business’s reputation, especially if it paints your business in a negative light and if the case is publicized by local or national media. It also can put stress on you and your employees.

This is why we offer business liability insurance. 

Employees

Many small business owners treat their employees like family, forging a tight bond over a common goal of growing the business in a way that’s mutually beneficial. However, the occasional unhappy employee—who feels as if their boss has mistreated them—will sue. According to a Hiscox study, nearly one in five small businesses will face employee litigation, which can cost upwards of $125,000 to defend. Of the cases that go to trial, 25% result in a judgment of upwards of a half million dollars.

Employees who feel they are unfairly disciplined or terminated may be tempted to sue for retribution or to recoup any financial loss they suffered due to their employer’s action. Or they may sue because they feel their managers did not adequately address a complaint they reported. Here are six common types of employee lawsuits:

  • Wage and salary violations
  • Workplace harassment or hostile work environments
  • Violation of EEOC federal workplace discrimination laws, including bias against age, disability, religion, gender, retaliation, sexual orientation, pregnancy, etc.; for example, in 2018, the SLS Hotel settled a discrimination lawsuit for $2.5 million
  • Employee injury as a result of employer negligence
  • Wrongful termination
  • Discrimination in violation of the Immigration and Nationality Act (INA)

Customers

Likewise, customers may sue for a wide range of reasons—from feeling they did not receive the product or service they were promised, to getting injured on the company’s premises. Even businesses with seemingly transparent and customer-friendly policies get sued. 

General Liability Insurance

protects you for a range of potential claims against your business, such as someone slipping on your property or accusing your business of false advertising. Specialized liability policies can be designed around the unique needs of your business, when necessary.

Keeping you protected.

 

Rick

 

All Access Insurance in Littleton, CO,  who represents multiple insurance companies as a “Broker” and provides products for auto, home,  commercial, workers compensation, and much more! Call us today for a free quote at (303) 932-1700.