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Frequently Asked Questions

Below are some of our frequently asked questions. If you have any other questions or concerns, please feel free to contact us.

  1. What is an independent agency?
  2. Who does an independent agent work for?
  3. How much will this cost? What is your cheapest policy?
  4. Does my credit score matter?
  5. Should I bundle?
  6. Do I need liability insurance?
  7. Should I consider an umbrella insurance policy?
  8. Do you need to know when I've made improvements on my home?
  9. Any advice for hiring a contractor?
  10. Can I get discounts on home improvements?
  11. Why would I need flood insurance?
  12. What is the wind and hail deductible?
  13. How is my irrigation equipment covered for my ranch and agribusiness?
  14. How is my center pivot covered under my farm insurance policy?
  15. What auto insurance terms do I need to know?
  16. Do you cover guns, jewelry, and furs?
  17. Where else can I go for insurance tips and news?
What is an independent agency?
Independent agencies are defined in their ability to search numerous insurance companies to find the best value for coverage that fits your personal needs. Your independent agent is a one-stop shop; able to cover most of your insurance needs in one location.

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Who does an independent agent work for?
Your independent agent of Union Colony Insurance is licensed in Colorado and carries with them the responsibility to be your advocate. We recommend you sit down with us once a year to take a comprehensive look at your needs. They can advise you on a solid risk management program that is in your best interest.

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How much will this cost? What is your cheapest policy?
Many people get hung up shopping for the cheapest policy and forget to look at the contents of that policy. In many instances you can spend a little more money and get better coverage for the cost. It pays to sit down with your Union Colony independent agent and look at the full value of your current policy.

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Does my credit score matter?
Yes. Many insurance companies utilize credit scores when rating your policy. Good credit will save you money. 

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Should I bundle?
Most insurance companies offer multi-policy discounts. Ask your Union Colony independent agent about these and other possible cost saving tips.

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Do I need liability insurance?
Liability insurance covers damage you cause to other people's property and injuries to the people. It is a good practice to standardized liability limits on all our policies - auto, home, equine, rv, etc. We believe you should have at least $300,000 to $500,000 at a minimum. If you happen to be sued by someone you injure, you could be sued for more than just medical bills. You could end up paying lost wages in addition to pain and suffering which could easily end up over the $300,000 to $500,000 cost.

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Should I consider an umbrella insurance policy?
Ever worry about being sued and losing assists you have worked decades to put together? An umbrella policy provides coverage over the top of your other policies. Typically, these policies are written for at least $1,000,000 or more. Umbrella insurance costs can be very affordable and worth every penny if a catastrophic liability hits you and your assets. Check with your Union Colony independent agent for details on this coverage and what suites your needs. 

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Do you need to know when I've made improvements on my home?
Improvements, updates, or changes to your home, car, business, or farm need to be recorded to adjust your coverage limit. If you build a new deck or make changes to the sink, stop by and let your independent agent know.

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Any advice for hiring a contractor?
When hiring contractors for remodels, repairs, or major projects, be sure the contractor provides you with a "certificate of insurance" prior to providing any services.

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Can I get discounts on home improvements?
Yes. Many insurance companies offer discounts for things like fire detectors and impact resistant roofing products. Talk to your Union Colony independent agent to get more information and resources to help find discounted rates on your insurance.

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Why would I need flood insurance?
Catastrophes happen and can vary greatly. There is a good chance your home is covered for wildfires and storms but not covered for the peril of a flood or earthquake. Many people don't realize or don't think they're in a flood area and suffer the consequences. Talk to your union colony independent agent to obtain flood insurance today.

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What is the wind and hail deductible?
Look closely at your wind and hail deductible, and determine the avenue your insurance company could be using for that deductible. Many insurance companies utilize a percent of your home's insured value when figured the deductible for damage caused by wind and hail. For example, if your home is insured for $180,000 and the wind and hail deductible is 2 percent of the value, you would be faced with a deductible of $3,600 on a roof replacement. Talk to your Union Colony independent agent for more resources and information.

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How is my irrigation equipment covered for my ranch and agribusiness?
Irrigation equipment usually has a deductible of $1,000 regardless of the deductible on the rest of your policy.

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How is my center pivot covered under my farm insurance policy?
Center pivots are covered at either Replacement Cost (RC) or Actual Cash Value (ACV). This could be a huge difference depending on the age of your pivot. Typically, a pivot ten years old or more is insured at the Actual Cash Value versus newer pivots covered at Replacement Cost, which typically run about $10,000 per tower.

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What auto insurance terms do I need to know?

• Liability insurance covers damage you cause to other people’s property and injuries to the people.

• Collision insurance covers damage to your own vehicle in an accident.

• Comprehensive insurance covers your vehicle from physical damage (other than collision). For example, fire damage or a cracked windshield would be covered under the comprehensive section.

• Medical insurance payments covers medical expenses for injuries to you and your passengers, regardless of who is at fault. This could also cover you if injured by a motor vehicle while riding your bicycle or as a pedestrian.

• Uninsured motorist (UM) insurance and underinsured motorist (UIM) insurance coverage covers you or the occupants of your car for bodily injury caused by an uninsured, underinsured or hit-and-run driver. Underinsured insurance takes care of those losses when the at fault driver does not carry adequate limits to cover the total cost of your injury.

• Uninsured motorist property damage coverage is available to purchase on your older vehicles you do not carry collision coverage. This would cover your vehicle for damages caused by an uninsured motorist. This coverage is available for a minimal additional premium.

• Optional coverage’s are also available on your auto policy. Towing, labor and rental reimbursement are examples of optional coverage’s you should consider for a minimal additional premium.



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Do you cover guns, jewelry, and furs?
Yes. Not all policies are the same, nor all valuables considered equal, so make sure you understand what your policy covers. Most home policies have a limit on the coverage for items like guns, jewelry, and furs. You can purchase a rider to enhance your coverage if needed. 

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Where else can I go for insurance tips and news?
Check out our blog! www.unioncolonyins.com/blog

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