Take your pick: water is pouring through your ceiling like Niagara Falls, your kitchen looks like the dying embers from last night’s campfire, or your roof looks like it has been sitting on a driving range instead of the top of your house. If anything of that sort is happening to you, contacting your mortgage company is probably the last thing an average home owner is worried about is however, its likely required. Not only that, your mortgage company likely has a right to participate in the insurance claim and repair process, hold and disburse insurance proceeds, and inspect the work as it progresses through completion. For these reasons, it is important for policyholders to also know what their mortgage requires after a loss. Continue Reading After a Loss, Don’t Forget About Your Mortgage Company

Balancing the cost of insurance premiums and the potential costs related to being displaced from your home, repair costs required by local building code, or higher replacement costs can be challenging for a homeowner. For Colorado homeowners, it is important to understand that they have rights to additional and/or enhanced insurance coverage options if they so choose. Continue Reading Colorado Division of Insurance Reissues Bulletin on Colorado Homeowners’ Right to Obtain Additional or Enhanced Coverages

The State of Colorado has always been an attractive destination for people who enjoy the outdoors. Now more than ever, it seems people are choosing Colorado not just for a winter getaway, but as a place to call home. As a result of the market pressure that the ever-increasing population has caused, property values have skyrocketed in the Rockies. For homeowners that means two things: 1) your home is likely worth a lot more than when you purchased it; and 2) you could be woefully underinsured. Continue Reading Keeping Up with Inflation: Does Your Home Have Sufficient Insurance Coverage?

You purchased a condo, closed on the mortgage loan, and are now ready to move in to your new home. But what happens if a pipe bursts and floods your unit or an electrical short causes fire damage to your unit? Should you call the insurance company or your Condo Association? Are you covered by your Condo Association’s master policy of insurance? What kind of insurance is required under your mortgage? Are you required to have an HO-6 insurance policy? All these important questions need to be answered before you move into your new home. Continue Reading Your Condo Association Has an Insurance Policy, But Are You Covered?

Many of us in Central Colorado remember the hail storm that wreaked havoc on the Denver metro area in May 2017. What happens when hailstorm damage to your property does not manifest itself for a period of months, or even a year later? Should a claim be denied for being reported once discovered? Unfortunately, the standard surrounding late notice continues to be unclear in the Colorado courts today. Continue Reading Colorado Notice Standard Update For Residential and Commercial Property Damage