News from Aspen Claims

What you should know about Denver Property Insurance

November 12, 2020

If you own a home, vehicle, or any other expensive personal property, making sure these assets are insured is imperative. Although it can seem overwhelming and costly, insuring these items can save you time and stress in the long run. At Aspen Claims, we know the importance of property insurance. Whether you are a first-time homeowner or recently purchased a new car, take a look at our quick guide to property insurance to help you make a more informed decision!

What is Property Insurance?

Often used as a broad term for a range of policies, property insurance essentially provides protection against any damage or loss of expensive personal property. This type of insurance most often provides the owner or renter of a home, vehicle, or other properties financial reimbursement in the event of damage, theft, or certain personal injuries. Types of property insurance include auto insurance, homeowner’s insurance, flood insurance, and renter’s insurance. Before purchasing an expensive item, such as a home or car, it is important to know what type of insurance your state requires. For example, all states require drivers to obtain auto insurance, but not all require home buyers to purchase homeowner’s insurance. If you are working with a lender or mortgage company, it is also crucial to check what policies they require and recommend prior to borrowing from them.

What does it cover?

Because this is a broad term for many policies, property insurance covers a multitude of personal properties. Most often it is used for homes, cars, rental properties, and other expensive assets. However, some objects like jewelry, furs, works of art, and other personal items, may need additional coverage. It is also essential to understand what types of damage your insurance policy covers. For instance, many home insurance policies do not cover floods and earthquakes. However, there are often additional policies you can purchase for these events. It is also important to check how your policy covers home and auto repairs, as poor coverage can cost you more in the long run.

Why is it important?

If you own any expensive property, like a car or home, you need property insurance. In some instances, like with your vehicle, it is mandatory. However, even when the state does not require you to purchase insurance, you should always consider it. This can be especially true with homeowner’s insurance. Remember, in any case, that without insurance you will most likely be financially responsible in the event of property damage or theft. Even if you have savings, this type of fiscal strain could put you and your family in a difficult position. Property insurance helps give peace of mind and can keep you from losing money.  

If you or your business is looking for assistance with property or homeowner’s insurance, Aspen Claims Service can help. Our large, nationwide team of expert adjusters is available to assist with daily claims of any size, inspections, underwriting, catastrophe claims, and more. Contact Aspen Claims Service today at 888-819-5904 to learn how we can help and experience the Aspen difference!

Prevent these common winter property damage claims

October 23, 2020

With cold weather fast approaching, it is important to be aware of the dangers this season can pose to your home and other properties. By understanding these potential hazards, you can be better prepared to prevent serious damages. Take a moment to review two of the most common property damage claims and ways to prevent them to keep your home safe this winter!

Water damage

Although a common property damage claim throughout the year, the potential for water damage can increase in the winter months. With colder temperatures often producing snow and ice, water damage can take on many different forms. A common culprit is bursting pipes due to freezing temperatures. Frozen pipes occur when water within the pipes gets trapped and freezes. Although damages may not be obvious at first, once temperatures rise the ruptured pipe has the potential to spew water all over home surfaces or outdoor areas. To prevent this with outdoor pipes, shut off and empty them prior to freezing temperatures. For indoor pipes, be sure to keep the water flowing by turning faucets and fixtures on a light drip.

Another common winter water damage claim to look out for is leakage from roofs. This is most often caused from ice clogging gutters. When gutters are blocked, water on the roof from melting snow and ice has nowhere to go. Thus, trickling into shingles and causing serious damage. To prevent this, be sure to clean and unclog gutters, as well as replace any faulty shingles.

House fires

Most common during the winter months, house fires can devastate your home. From minor fires that cause severe smoke damage to massive fires that completely destroy property, practicing fire-prevention safety measures is key this time of year.  Holiday lights and trees, clogged fireplaces, and space heaters are all common sources for winter home fires. For holiday decorations and lights, always be sure to check your electrical outlets prior to use. If the outlet looks faulty or burnt, do not use it. Also, do not overcrowd an electrical outlet or power strip. For holiday trees, never use real candles for decoration and always turn off string lights before leaving the house or going to sleep. For fireplaces, always check your chimney for clogs and never leave a fire burning unattended.

Although space heaters are great at keeping drafty areas warm, they can also be a fire hazard. To use them safely and prevent a potential fire, be sure to review your space heaters safety rating prior to use. If the heater is poorly rated, consider purchasing a new one. You should also only use them in safe zones, at least 3-feet away from pets, children, curtains, and other flammable materials.  Place them on a level, flat surface and always unplug when not using or when sleeping.

If you are in need of assistance filing a property damage or insurance claim this winter, Aspen Claims Service is here to help. Our nationwide team of knowledgeable adjusters can assist with daily claims, underwriting, inspection, catastrophe claims, and more. Call us today at 888-819-5904 to learn more about how we can help and experience the Aspen difference! 

Understanding the Denver underwriting process

October 13, 2020

If you are considering buying a home, or are currently in the process, understanding the underwriting process is key. Although it may seem slightly intimidating, it does not have to be. Underwriting is a normal and necessary step in your home buying journey. If you are feeling a bit overwhelmed, take a moment to review our quick guide to the Denver underwriting process and feel more in control of this important step to home ownership!

What is underwriting?
Essentially, underwriting is the process in which your mortgage lender verifies your assets, income, debt, and any other relevant financial information necessary to finalize your home loan. Underwriters are financial experts that examine your finances and assess any risks. Once your future home is in the appraisal stage, your underwriter will work with your mortgage lender and advise them on your potential to manage your home loan. They will also work directly with you in order make sure all necessary paperwork is completed and submitted.

Why is it necessary?

Underwriters help keep you and your lender from engaging in a potentially high-risk home loan situation. Because of this, underwriters will likely investigate your credit history and credit report, confirm your employment or sources of income, assess your debt-to-income ratio, verify the amount of savings you have and your down payment, order an appraisal of your future home (or assessment of the home’s value), and look into anything else that is financially relevant to purchasing your home. Basically, the underwriting process helps keep you from closing on a mortgage you may not actually be able to afford. By assessing and verifying all your financial information, the underwriter helps your lender make the final decision on whether or not to authorize your home loan.

What can I do to help the process?
Although much of the underwriting process happens without your direct involvement, there are some things you can do to help the process along. For instance, your underwriter may need you to provide additional documents, like bank statements or deposit slips, to help provide evidence of earnings, assets, or property. If this happens, be sure to retrieve the exact forms or records requested and return them to your lender or underwriter as quickly as possible. If you experience difficulties finding the documents or have questions about what exactly is needed, contact your underwriter immediately and ask for clarification. By communicating promptly with your underwriter, you can help ensure the process runs efficiently for your lender and yourself. You should also avoid making large purchases, applying for credit cards, or engaging in any other activity that could impact your credit report until your home loan has been finalized.

If you or your business is looking for assistance during the underwriting process, Aspen Claims Service can help. Our large, nationwide team of expert adjusters is available to assist with daily claims of any size, inspections, underwriting, catastrophe claims, and more. Contact Aspen Claims Service today at 888-819-5904 to learn how we can help and experience the Aspen difference!

How an Aspen Insurance Claims Adjuster can help you

September 30, 2020

From damages to your home or property to car accidents and personal injuries, your insurance claims adjuster is here to help you during the insurance claims process. Unsure of how your Aspen insurance claims adjuster can help? Learn more about the role of an insurance claims adjusters and how they can help you with your insurance claim below.

What is an insurance claims adjuster?

After filing a claim with your insurance company, you may be unsure of what happens next. This is where your insurance claims adjuster gets involved, acting as a third-party liaison between you and your insurance company. Working on site, your insurance adjuster will first evaluate whatever situation occurred and then assess the damages accrued to your person, property, or vehicle. The claims adjuster will then thoroughly review your insurance policy, conduct detailed field investigations where the incident occurred (or any other relevant locations), and fill out any important paperwork needed to move forward. Once the claim has been properly reviewed and filed, the insurance adjuster ensures that the appropriate amount of money is given to you from the insurance company.

What should I expect from my insurance claims adjuster?

Insurance claims adjusters will work closely with you and your insurance company throughout the insurance claim process. They may adjust via the telephone, visit you face-to-face, or do a mix of both. Insurance claims adjusters should be kind, courteous, and professional as they are usually necessary at a time when you, the policyholder, may be feeling stressed or tense. They may have to ask you questions or conduct an interview about whatever situation led to the claim. If this is the case, be sure to answer their questions with as much relevant detail as possible.

How can insurance claims adjusters help me?

Before making sure your insurance company allocates you the appropriate amount of compensation, your insurance claim adjuster does quite a bit of field work. Between conducting extensive on-site research and interviews to gathering numerous documents and other official forms, your insurance adjuster saves you a lot of time and stress. Adjusters will gather all your necessary documentation, which could range from receipts to any relevant medical records, to make sure your claim can be processed smoothly. By utilizing their vast understanding of your insurance policy, adjusters can also help you understand where your policy may fall short in claim coverage. You may encounter an insurance claims adjuster after a fire or store damages your property, you experience a burglary, you are involved in an automobile accident, you are injured in an automobile accident, your home or property is damaged after flood, or any other incident that involves filing an insurance claim.

With reliable claims adjusters available always, Aspen Claims Service is here to help. Available across the continental United States, let our expert team of adjusters assist you with daily claims, underwriting, inspection, catastrophe claims, and more. Experience the Aspen difference. Call us today at 888-819-5904 to learn more about how we can help. 

Tips for getting winter storm prepared

September 21, 2020

With winter storms popping up in parts of Wyoming and Colorado as early as September, ensuring you are prepared for hazardous winter weather is imperative. While the prospect of a snow day may seem attractive, winter storms can wreak havoc on homes, power lines, roads, and more. These storms can also cause costly repairs and issues with insurance claims. Because of this, we have some tips to get your family and home winter storm prepared.

Create emergency kits

Whether the emergency is due to a winter storm, flood, wildfire, tornado, or other type of disaster, having an emergency supply kit and communication plan are essential. For winter emergency kits consider including enough non-perishable food items and drinking water for a minimum of three days, battery-operated radio, extra batteries, medications, external cell phone charger, and enough blankets and clothing to keep you and your family warm in case of a power outage. It is also crucial to include a list of important phone numbers and ways to communicate if cell phones or service becomes unavailable. If prolonged power outages during winter storms are common in your area, it may also be beneficial to invest in a portable space heater or backup generator.

Be proactive

Being proactive is key in winter preparedness. Before colder temperatures set in, always have furnaces and other heating sources serviced and checked regularly. Roof failures can also occur from snow accumulation. To help prevent this, consider hiring a snow removal service for this area of your home. These services can help alleviate snow build-up and stress on your roof. If you are worried your roof may not be able to handle a large amount of snowfall, talk to an expert as soon as possible. Another way to stay proactive during winter weather is keeping your gas tank full, allowing you to be ready in case of evacuation or as a last resort for warmth.
Review your home insurance policies and consider potential claims.

Understanding what your insurance policy does and does not cover is important in any situation. However, it is especially important as winter weather approaches. For instance, if large amounts of snow thaw rapidly causing your home or property to flood, are you covered? Most likely not. Many insurance policies require additional flood-specific insurance. Does your insurance policy cover roof failure due to snow or the costs to fix pipes that have frozen from frigid temperatures? The last thing you want during a catastrophe is to be left wondering what, if anything, your insurance will cover. Because of this, taking the time to review your home insurance policy and consider any additional policies you many need to help with winter storms is crucial.  

If you are in need of assistance processing insurance claims due to winter storms, Aspen Claims Service is here to help. Our knowledgeable team of adjusters can assist with daily claims, underwriting, inspection, catastrophe claims, and more. Call us today at 888-819-5904 to learn more about how we can help.