Madison Insurance Group

Madison Insurance Group

Madion Insurance Group is a Colorado based independent insurance agency serving Colorado and the Denver metro area.

Madison Insurance Group specializes in providing comprehensive insurance plans with competitive pricing to Colorado and Denver businesses. We believe that the people and businesses of Colorado are unique. We are here to serve these special people and this special place by striving to create long term meaningful relationships with our clients. We have been a Denver based insurance agency through the good times and bad. We understand the "where's and how's" of Colorado companies from the Denver small business owner to larger multi-state Colorado based business. Please take a look at the services we provide and let us answer any question you may have. Mission Statement - Madison Insurance Group’s mission is to provide outstanding service and superior coverage to each and every one of our clients. We assist our customers identify their individual insurance needs in order to develop the most comprehensive and cost effective solution. We work as a team to develop exceptional programs for our valued customers built on a foundation of honesty, integrity and trust.

consumerreports.org

Protect Yourself From Hidden Fees

POST OF THE WEEK BY THE INSURANCE GEEK
Please read this story about all of these fees and especially hidden fees many of us are paying. I think a lot of people just do not pay attention to all of the outrageous fees that are out there right now. They can make a serious dent in your pocket. Many times, all you have to do is call or email the company making the charge and there is a good chance you will get it deleted or waived. Get a little aggressive here and pay attention and don't keep paying so many of these ridiculous fees! I am always looking for them and so many times they are buried in the fine print or hidden another way. I always ask the question, "What the fee is going on here?!"

consumerreports.org Consumer Reports shows you how to protect yourself from hidden fees, as cable TV and cell-phone providers, utilities, airlines, and more pile on more fees that result in higher bills for consumers.

POST OF THE WEEK BY THE INSURANCE GEEK
Have you filed a claim under any of your insurance policies? If so, how has the insurance company handled it? Was it to your satisfaction? Proper claim handling involves prompt contact with you by the adjuster from the insurance company, conducting an adequate investigation to glean what occurred and then hopefully making a payment to you that will make you whole again for the loss sustained. This is when you really find out “what you are paying insurance for” with those constant premium payments. There are differences in insurance companies and insurance policies; vast differences.

If you find yourself waiting, and waiting to be contacted by an adjuster after filing the claim, you find out quickly something is wrong. After the initial contact, if they do not continue to stay in touch and respond, it makes the situation worse. Of course, if they do not pay the claim or do not pay what they should, it puts you in a terrible position. Make sure you reach out to your insurance agent if you have problems at any point of the claim process. Agents are there to intervene if necessary by contacting the adjuster for a status, checking coverage within a policy to make sure there is coverage for the claim as well as confirming enough has been paid. This is part of the service that should be provided and expected from your independent insurance agent. Remember, we are not the insurance company and do not provide your insurance. We are the company that sells insurance on behalf of the specific insurance companies we have contracts with and represent. This is why we are called “independent” because we are a locally owned business that represents multiple insurance companies and not just one. Don’t let yourself be like Skeleton Pete here, waiting around for the claim process to move along like it should.

POST OF THE WEEK BY THE INSURANCE GEEK
Trees, trees, and more trees. Riding around Denver today, it was amazing to see the downed tree limbs everywhere due to the late spring snow storm last night. It made me think about who is liable for what. Trees can be tricky, but for the most part homeowners are responsible for what falls into their own yard, so if your neighbor’s tree falls in your yard, it is typically going to be your responsibility for the clean up as well as any damage caused, unless you can show there is liability on the part of the neighbor. Your homeowners insurance would typically help cover the cost of removing the tree and remedying the damage it caused after your deductible; but be aware there is not much coverage for the removal of a downed tree or tree limb.

The same is true in reverse: If a tree on your property falls in your neighbor’s yard, your neighbor is going to be responsible for it.

If you see a storm coming like this, sometimes it just may help to talk to the trees as our buddy Clint is doing in this video. https://youtu.be/nn8YubD01sk

Insurance 101 - What Determines the Cost of Homeowners Insurance?

POST OF THE WEEK BY THE INSURANCE GEEK
Here is a pretty good video about Homeowner's Insurance. If you own a home and have a mortgage, the bank makes you buy this policy no matter what so you really should make sure you are getting the right coverage for a reasonable price. It is very important to insure that house of yours properly, because you do not want to be paying a ton out-of-pocket if you sustain that unexpected loss. I don't like paying for insurance as much as anyone else, but I know I need it and have to have it, so I might as well make sure I have something that is is a quality product. Remember, protection plus price equals value! https://youtu.be/rMDQVIe6zds

When it comes to homeowners insurance, the price of policies can vary greatly. Watch our video to learn more about what factors into the cost of your homeown...

consumerreports.org

Credit Score Myths: What Really Hurts You and What Doesn't

POST OF THE WEEK BY THE INSURANCE GEEK
A lot of people seem to be concerned about their credit report and for good reason. It can effect your bottom line when it comes to finances in many ways, including the interest rate you will pay on a future mortage and other loans and how much your insurance premium will be for your Personal Insurance Policies. Yes, it really does effect the premiums you pay - big time! After reading this article, I now know what will end up being a blip on my report and what will not. This is very informative and a very good read so check it out!

consumerreports.org Consumer Reports debunks credit score myths and tells you the facts about what factors really affect your credit report.

madisoninsurance.net

HOME - Madison Insurance Group

POST OF THE WEEK - Renter's Insurance

As the last of the Millennial Generation, born from 1981 to 1996, is graduating college and joining the workforce, there is now substantial evidence of their impact on the economy. One area of the economy that this impact, or lack thereof, can be seen is in the housing market. Substantially fewer millennials (12.5%) are owning homes than their parents did at the same age (Nova, 2018). This could be because of multitude of reasons including an increase in the median age of marriage, growing student debt, or rising house prices. Whatever the cause may be, the reality is very clear: more millennials are choosing to rent and do so for longer than any generation we have seen previously.

If you are a renter, millennial or not, you are clearly not alone. This has become a cost-effective option in a booming economy. Renting does not mean that you have not worked hard for what you own or your livelihood. In fact, it may be even more important to protect your belongings and lifestyle as you save for a home. This protection comes in the form of Renter’s Insurance. Many times, this insurance is required by a landlord for the sake of protecting the property. However, this insurance is often the only buffer between you and moving back into mom’s basement if something were to happen.

Renters Insurance is made up of three basic parts: property, liability, and additional coverages. Property, often called Personal Property, covers your personal belongings. If your apartment were to burn down, how much would it cost to replace all your things? Many renters do not understand that, even if one of their roommate has insurance, this likely will not cover their belongings. Each renter must have their own policy that covers their own belongings. This property coverage also extends to your things while they are away from the home. If your laptop is stolen out of your car, your auto insurance will often defer to the renter’s insurance policy to cover the replacement. If you do not have renter’s insurance, you may not be covered for an incident like this.

Liability coverage covers instances where you are at fault. This may be because your dog bites a stranger on a walk or you start a fire that causes damage to the apartment complex itself. Where many renters find themselves in trouble is that their liability limits are not high enough. If you are liable for causing damage to your apartment complex or get into a lawsuit, minimum limits will likely run out much quicker than you might imagine. If limits run out in instances like these, your personal assets, future wages, and more might be at stake.

Finally, there are additional coverages that may or may not be included on your policy. Just because you have a Renter’s Insurance policy in place does not mean you are covered for everything. The most basic polices often exclude things like Sewer Backup, Loss of Use, and more. For example, if the toilet overflows while you are at work from a sewer backup and destroys some of your personal property, you may be paying for those damages out of pocket if it is excluded on your policy. Similarly, if something happens that forces you to move out of your apartment while damages are repaired, you may be paying for additional rent if Loss of Use is not included on your policy. Make sure these coverages are things you ask your agent what options are available to you. A renter’s policy often costs less than $30 per month and these additional coverages are often only a few dollars per month more than a base policy might cost.

If you have questions about your current policy or would be interested in obtaining renters coverage, feel free to reach out to us at Madison. We can also examine your auto, homeowners, umbrella, life and more. We work nationwide and I would be happy to speak with you in person or over the phone to see how we might be able to help you sleep better at night by protecting your belongings and your livelihood.

madisoninsurance.net

POST OF THE WEEK BY THE INSURANCE GEEK
Continuing my discussion on Cyber Liability Insurance available for businesses, it also provides coverage for a data breach. A data breach is the intentional or unintentional release of secure or private/confidential information to an untrusted environment. Other terms for this phenomenon include unintentional information disclosure, data leak and also data spill. Most of us have heard about the data breaches sustained by a number of large well known companies. Small business owners need to be aware it could happen the them too. If it does, the state and the feds will place some very strict and expensive requirements upon you that must be implemented by your company after a breach occurs. You will be required to hire a forensics firm to figure out what happened and how many records were breached, send out letters to those people whose PPI (Personal Protected Information) was lost or stolen, and more than likely monitor their credit for at least a year. The average cost for each lost or stolen record containing sensitive and confidential information now stands at $148 per record. A "record" is one person's PPI such as social security number, date of birth, driver's license number, medical records and more. If you have 1,000 records stolen, this means it could cost you $148,000 if you do not have Cyber Liability Insurance. Thanks about it!

ANOTHER POST THIS WEEK BY THE INSURANCE GEEK
Cyber Liability Insurance can also provide coverage for Social Engineering. Now what does a fancy term like this mean you may ask? Well, it isn't an engineer and his or her pals getting social on social media I can tell you that. Here is a definition of it: "Social engineering is the art of manipulating people so they give up confidential information. The types of information these criminals are seeking can vary, but when individuals are targeted the criminals are usually trying to trick you into giving them your passwords or bank information, or access your computer to secretly install malicious software–that will give them access to your passwords and bank information as well as giving them control over your computer." Here is an example which has been happening a lot lately: an employee of a firm receives an email from someone who purports to be their boss, asking them to wire off $25,000 to such and such like now, which is typically on a Friday afternoon. The employee then goes ahead and does that, then gets confronted by the boss probably on Monday morning asking what is going on. The employee then looks at the email again and the email address and realizes it is just a little bit different than the one from the person the employee thought it was from. Bingo, the money is in the hands of the bad guys never to be seen again! If you do not have Cyber Liability Insurance, you are out this money! Thank about it!

POST OF THE WEEK BY THE INSURANCE GEEK
I am thinking of Cyber Liability Insurance this week, which is a specialty-type insurance coverage a business typically needs to purchase over and above the other insurance they may have. Not a lot of small businesses carry this sad to say. What if your company gets hit with a ransomware attack? Here is a common definition of ransomware: "Ransomware is a type of malicious software from cryptovirology that threatens to publish the victim's data or perpetually block access to it unless a ransom is paid." If you get hit with one of these attacks, you will not be able to use your computers or access your information and you may have to pay a ransom to unlock your system, and could sustain a loss of revenue as a result. Cyber Liability Insurance will typically pay you for these losses. If you do not have this coverage, YOU will be paying for it out of pocket. Think about it!

consumerreports.org

How to Prevent Your Pipes From Freezing

POST OF THE WEEK BY THE INSURANCE GEEK
Here is a very good article about freezing pipes and recommendations for pre-cautions you can take to help prevent this from happening in your home. We all know hail in Colorado is a major cause of damage to homes, but we tend to forget about what water can do! Country-wide, insurance companies pay out more for water damage claims by far than any other covered peril including hail and fire. Note this is water damage occurring inside the house generally because water seeping in from outside of the house is not covered unless you have a specific Flood Insurance Policy.

consumerreports.org Consumer Reports delivers money-saving advice to avoid frozen pipes at home and to deal with the aftermath if your pipes freeze during a cold snap.

I don't need insurance!

POST OF THE WEEK BY THE INSURANCE GEEK (I'M BACK!)
We talk to a number of people who do not have auto insurance despite the fact it is required by law. Appoximately 15% of Colorado drivers do not have auto insurance. Some of the comments are: "I am a safe driver so I don't need insurance"; "I'm never going to get into an accident so why do I need it?"; "I'll self insure in case anything ever happens”. Hmm, good luck with that! Tell that to the driver in this video!

Saw this photo and loved it so we wanted to post it. It is from the B Strong Ride out of Boulder, CO these two cyclists were participating in this past Saturday. What a beautiful day in Colorado it was!

consumerreports.org

Should You Buy Wedding Insurance?

When it is time for your wedding, here is an article that will help you say either "I DO" or "I DON'T" to Wedding Insurance.

consumerreports.org What does wedding insurance cover? Consumer Reports explains, and points out other insurance coverage options to consider for your wedding day.

POST OF THE WEEK BY THE INSURANCE GEEK
And they say I look strange on skis! I saw this the other day on the slopes; yes, believe it or not!

It was a good reminder to me that we try not to bury our head in the sand when it comes to providing the necessary insurance coverage and handling claims on behalf of our customers.

acuity.com

Renters Insurance Protects More Than Just Your Possessions

Renters Insurance is one of the most avoided insurance policies that exists as far as those who need it, not purchasing it. Many people who rent an apartment, a condo, or a house just do not think they need it. People tend to think it just provides some coverage for their belongings but this article shows the other types of coverage's that are typically included in the policy as well. If you are renting, you should check into getting a quote for this insurance if you do not have it already! Remember, the Landlord's insurance policy will not provide any coverage or protection for you.

acuity.com If you are renting your home or apartment, you may think you don’t need insurance coverage. You might look around your apartment and think you don’t have much stuff or that nothing will ever happen to your building. The truth is, having insurance as a renter is important.

acuity.com

Watch Out For Storm Chasing Contractors

POST OF THE WEEK BY THE INSURANCE GEEK
I was listening to one of my favorite songs this morning, Stormy Weather, and it really put me in the mood to read this article. I've noticed whenever there is even the slightest bit of hail in my neighborhood, I have these people knocking on my door asking me to hire them to replace my roof. What? I don't even know if there is any damage to it as of yet so what is going on here? Read this article for some good tips about the process of hiring a reputable contractor after sustaining damage to your home after a storm. Remember too, under a Homeowner's Insurance Policy, if you sustain damage due to a covered peril, it pays you on an Actual Cash Value basis which is depreciated value and does not pay replacement value, UNTIL THE DAMAGE IS 100% repaired or REPLACED!! (This is if you have the Replacement Value coverage option in your policy, that is.)

acuity.com Your home just suffered damage at the hands of a storm. Whether it is from hail, a tornado, high winds, or another form of weather, you need to be prepared for what comes after the storm passes. It is becoming more and more common for storm-chasing contractors to show up at your front door looking t...

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I don't need insurance!
What the Hail!

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600 S Cherry St, Ste 900
Denver, CO
80246

General information

Madison Insurance Group provides the following for people and companies in Colorado and surrounding states: Workers Compensation, General Liability, Property Insurance, Home, Renters and Auto Insurance, Insurance for Rental Properties, Health Insurance, Group Insurance, Disability Income Insurance, Life Insurance, Cyber Liability Insurance, Data Breach Liability Insurance, Directors & Officers Insurance, Property & Casualty Insurance, and much more.

Opening Hours

Monday 08:00 - 17:00
Tuesday 08:00 - 17:00
Wednesday 08:00 - 17:00
Thursday 08:00 - 17:00
Friday 08:00 - 17:00
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