When you run a business that relies on vehicles—whether it's service trucks, delivery vans, or company cars—you need a solid commercial auto insurance policy to protect your assets. But did you know that your employees’ driving records directly impact your insurance rates?

Many business owners overlook this critical detail, only to face higher premiums or coverage denials down the road. Let’s dive into why your employees’ driving history matters and what you can do to keep your rates low.

How Employees’ Driving Records Impact Your Policy
🔍1. Higher Risk = Higher Rates
🔍Insurance companies assess risk when determining your commercial auto insurance premiums. If your employees have multiple traffic violations, accidents, or DUIs, your business will be classified as high-risk, leading to increased premiums.

2. Insurance Approval (or Denial)
🔍Some insurers refuse to cover high-risk drivers. If your company has employees with poor driving records, your insurer might exclude them from the policy—or worse, deny coverage altogether.

3. Company Liability Risks
🔍If an employee with a bad driving history causes an accident, your business could be held responsible. Even if the employee was acting outside of work hours, your company’s reputation and finances could take a hit in a lawsuit.

How to Keep Your Commercial Auto Insurance Rates Down
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🤔1. Hire Safe Drivers
🤔Before hiring new employees who will be driving company vehicles, run a Motor Vehicle Record (MVR) check. Establish a company policy requiring employees to maintain a clean driving record to continue using business vehicles.

2. Implement a Driver Safety Program
🤔A driver safety training program can significantly reduce accidents and claims. Consider:

✔️ Requiring defensive driving courses
✔️ Creating a policy on distracted driving (no texting or calls while driving!)
✔️ Regularly reminding employees of safe driving habits

3. Review Your Insurance Policy Regularly
🤔Don’t set your policy and forget it! Work with your insurance broker (like Front Range Insurance Solutions!) to:

🔹 Reassess your coverage
🔹 Optimize deductibles and policy limits
🔹 Remove any high-risk drivers if necessary

4. Use Telematics & GPS Tracking
🤔Installing GPS tracking and telematics in your company vehicles can help monitor driver behavior. Many insurers offer discounts for businesses using these tools to track:

✅ Speeding
✅ Harsh braking
✅ Vehicle idling

These systems encourage safer driving and can help lower your premiums over time.

5. Bundle Insurance Policies & Maintain Good Credit 🤔Many insurance companies offer discounts when you bundle your commercial auto policy with:

📌 General Liability Insurance
📌 Workers’ Compensation
📌 Property Insurance

Also, maintaining a good business credit score can impact your insurance rates, so keep up with financial best practices.

6. Consider a Higher Deductible 🤔If your business is financially stable, raising your deductible can lower your monthly premium. Just make sure you have enough in reserves to cover the deductible if a claim arises.

Take Control of Your Insurance CostsYour employees’ driving habits have a huge impact on your insurance rates. By hiring safe drivers, implementing policies, and reviewing your coverage regularly, you can protect your business and keep costs manageable.

At Front Range Insurance Solutions, we specialize in helping contractors and business owners secure the right insurance coverage at the best possible rates. If you want a policy review or help implementing a driver safety plan, let’s chat!

📞 Call us today
📧 Schedule a consultation

#ContractorsOfColorado
​#FrontRangeInsuranceSolutions #CommercialInsurance #BusinessOwner #InsuranceTips #ContractorLife #RiskManagement #SmallBusinessOwner #FleetInsurance #BusinessGrowth 🚛💼

You’ve worked hard to build your business. So what happens if a single lawsuit exceeds the limits of your existing insurance? Enter Umbrella Insurance, the cost-effective way to add an extra layer of protection.

What Is Umbrella Insurance? Umbrella Insurance provides additional liability coverage that kicks in when your primary policies (like General Liability or Commercial Auto Insurance) reach their limits.

What Does It Cover?

✔ Legal fees and settlements beyond your policy limits
✔ Claims involving third-party injuries or property damage
✔ Additional coverage for events not included in standard policies

Three Reasons Why It’s Worth It:

• Affordable Peace of Mind: Coverage is typically inexpensive compared to the protection it provides.
• Covers the Unexpected: From large lawsuits to catastrophic events, umbrella policies ensure your assets are protected.
• Required for Growth: Many large contracts and clients expect contractors to carry umbrella coverage.

💡 Let’s discuss how an umbrella policy can safeguard your business. Contact us today.

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As a contractor, you know that trust is everything. Clients need to know you’ll deliver on your promises, and that’s where bonds come in. Bonds aren’t just paperwork—they’re a tool to build confidence and secure bigger, better projects.
What Are Bonds?
Bonds are financial agreements that guarantee your performance and payment obligations on a project. They are often required by government agencies, project owners, or general contractors to ensure accountability and reliability.
Types of Bonds
✔ Bid Bonds: Show clients you’re serious about honoring your bid.
✔ Performance Bonds: Guarantee the project will be completed according to the contract.
✔ Payment Bonds: Ensure subcontractors and suppliers are paid on time.
How Bonds Benefit Contractors

• Build Trust: Clients feel secure knowing their investment is protected.
• Win Bigger Contracts: Many large projects require performance and payment bonds.
• Meet Legal and Contractual Requirements: Bonds are often a prerequisite for public works and private contracts. Entities such as government agencies, private developers, and large construction firms commonly require them to protect their investments.

At Front Range Insurance Solutions, we can offer bonds through several of the carriers we write through, ensuring you have access to the right solutions for your projects.

If you’re a landlord in Colorado, you’re likely aware of the new SB24-094 Warranty of Habitability law. This legislation heightens the expectations for property upkeep, placing more responsibility on landlords to maintain safe, habitable rental properties. In other words, landlords are now required to ensure that any issues impacting habitability are resolved promptly and effectively. So, do you have a plan in place if your rental property suddenly becomes uninhabitable?

How "Loss of Use" Coverage in Your Homeowners Insurance Can HelpIf a major incident like fire, severe water damage, or another covered event renders your rental uninhabitable, your homeowners insurance policy’s "Loss of Use" coverage could provide crucial support.

Here’s how it can help:

1. Covers Lost Rental Income

When your property is uninhabitable, Loss of Use coverage can help replace your lost rental income. This means you’ll still receive income while repairs are underway, which can be essential for meeting your financial obligations and staying afloat during unexpected disruptions.

2. Assists with Temporary Housing for Tenants

If your tenant must vacate while the property is being repaired, Loss of Use coverage can also help cover hotel or temporary housing costs for them. This support can make a significant difference, allowing you to fulfill your obligation to provide a habitable space while minimizing the impact on your tenants.

3. Possible 36-Month Coverage Extension Coming Soon!

Exciting news for landlords: Many insurance providers may soon extend Loss of Use coverage up to 36 months! This longer coverage period could be incredibly valuable for handling lengthy repairs, complex renovations, or unforeseen delays, providing a more robust safety net for landlords and tenants alike.

Stay Compliant and PreparedLeveraging Loss of Use coverage helps landlords meet the new requirements of SB24-094 while providing a practical backup plan. This coverage can protect your rental income, provide temporary housing for your tenants, and offer an extended safety net during extensive repairs.

If you’re uncertain about your options or would like expert guidance on insurance for landlords, feel free to reach out! We can help you navigate these changes and ensure you have the coverage you need.
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🏡💼 #Landlords #ColoradoLaw #HomeInsurance #SB24094 #Habitability

​Friendly reminder! I’m thrilled to announce that I’ll be part of a panel at the upcoming Denver Real Estate Investor Success Summit on November 9, 2024, at the PPA Event Center. If you’re a real estate investor (or aspiring to be one!) and looking to achieve financial freedom, this event is a must-attend.

As someone who’s deeply involved in both the real estate investing and insurance worlds, I’ll be sharing valuable insights on investor-specific insurance products—a critical but often overlooked aspect of real estate investment. Whether you’re new to the game or a seasoned investor, understanding the right insurance solutions can make all the difference in protecting your assets and growing your wealth.

Here’s why you should consider joining us:

What You’ll Gain From Attending:
​

• Learn from local experts: Discover strategies and insider tips from professionals working directly in the Denver real estate market. You’ll get to hear firsthand experiences and success stories.
• Multiple breakout sessions: With so many diverse topics, there’s something for everyone. You can choose sessions that speak directly to your needs, whether you're interested in finance, market trends, or asset protection.
• No sales pitches, just pure education and networking: This summit is all about learning, growing, and connecting with like-minded individuals in the real estate community. You’ll leave with actionable knowledge, not a pile of sales brochures.
• Strategies for new and experienced investors: Whether you’re just starting or have years of experience, you’ll find innovative ideas and strategies to take your investment game to the next level.

Topics We’ll Dive Into:

• Financing real estate investments: Discover creative ways to finance your deals, from traditional loans to unconventional options.
• Current market trends and opportunities: Stay ahead of the curve by understanding what’s happening in the Denver market and beyond.
• Risk mitigation strategies: Protecting your investments is key—learn how to safeguard against potential losses.
• Identifying hidden investment gems: Not all opportunities are obvious. You’ll learn how to spot the diamonds in the rough that others may overlook.

I’d love to see you there! This summit is an incredible opportunity to connect, learn, and discuss how these strategies can benefit your investment journey. Whether you have questions about insurance or want to chat about real estate, I’m looking forward to meeting you.

For more information and to register, visit: https://denveriss.com/

Let’s make this summit a step toward your financial freedom!
​
Best regards,
Your favorite insurance lady, Shauna

​One of my clients hit a snag thanks to BOULDER COUNTY.

He’s considering moving to an assisted living facility and wanted to see if they could rent their home furnished as an AirbNb.

Nope.

You see, they have to live in their home 6 months out of the year for Boulder County to allow it.

I called my friend, Dan Guenther admin. of the Boulder County Co-Living & Rent-by-Room Support Group page.

I've shared the fantastic informantion he gave to me below: 

Short-term rentals can indeed be highly lucrative, but with increasing city regulations, investors are often left searching for viable alternatives. Many of my clients frequently ask about other strategies to optimize their ROI. Exploring these often-overlooked exit strategies can open new avenues for profitability and long-term success.

Can't Run a Short-Term Rental? No Problem! Here Are 5 Powerful Alternatives for Investors:
If city regulations are putting a halt to your short-term rental plans, don’t worry—there are still plenty of ways to maximize your investment! Here are my top five alternative strategies to maximize returns.

Rent by the Room:

• Benefits: Higher total rent, lower vacancy risk, and a steady income stream. Perfect for markets with a strong demand for affordable housing options, like students and young professionals.
Medium-Term Furnished Rental (30+ days):

• Benefits: Ideal for traveling professionals, remote workers, or families in transition. Enjoy less turnover and less wear-and-tear on your property, while still earning more than traditional long-term leases (sometimes up to 2x traditional long term rents)

Have a Tenant Be the STR Operator:

• Benefits: Stay within legal bounds while still reaping STR-level profits. Your tenant handles the work, and you enjoy a share of the revenue without the headaches of day-to-day operations. This one does not work in every market but if it does, then you can take full advantage of prime STR markets without the property being your primary residence.

Sober Living Home:

• Benefits: Steady demand and potential for higher rent. This option also allows you to contribute to a meaningful cause by providing safe, supportive housing for individuals in recovery.

Group Home:

• Benefits: Consistent government or agency-backed income, with the chance to create a supportive environment for those in need. This option often comes with fewer vacancy issues and long-term stability.
Don’t let regulations limit your potential—there’s always a way to keep your investment thriving!
​
If you or any of your investor friends are curious about any of these options and want to dig a bit deeper into the pros/cons of each model, let me know and I can connect you with one of my conections! 

I'm currently working with a client who owns a very successful and fast-paced remodeling business. Unfortunately, he worked with another agent prior to working with me and was never guided on how to prepare for an insurance audit.

We are now helping him to navigate through total chaos.

If you're a contractor and you've experienced an audit, you know how crazy they can be. By applying three simple tips, your audit can be made much easier.

Tip #1: Divide and Conquer

Set up two separate bank accounts, one for payroll and sub costs and the second, for all other items: materials, marketing, office supplies, etc. It is also crucial that you do not mix your business expenses with your personal expenses. THE DO NOT MIX!

Tip #2: Gather Certificates

Make sure you are collecting certificates of insurance from every subcontractor you work with and keep those certificates filed safely away in case they are needed for an audit or claim. You'll want to make sure your subs' insurance limits are the same as yours-not less. To make sure you are as protected as possible, require that your subs add your company as an additional insured on their certificate. A little FYI, there are special endorsements you can require your subs to add which will add an additional layer of protection for YOU.

Feel free to reach out to us if you'd like to know what these endorsements are or if you would like a sample certificate to use for refrence.

Tip #3: Work With a Bookkeeper

You're busy.

I know.

You're watching your expenses.

I get it.

However, you may be as surprised as I was to find out how inexpensive working with a bookkeeper can be. If you're small, it can cost as little as $50 a month - depending on who you're working with. Working with a bookkeeper allows you to focus on bringing in the money instead of managing it and better ensures you're going to have a really well done profit and loss statement (which your auditor will request.)

I have several bookkeepers whom I have personally trained. Should you decide to work with one of them, your audit becomes incredibly easy. They send me the information I will need, I forward it to your auditor, and you are finished.

It can be as easy as that.

Had my client known these tips and applied them, he would have been saved dozens of hours searching for check stubs, certificates, and bank records.

​If you'd like to know more, receive recommendations for bookkeepers who are familiar with the insurance auditing process, or would like to connect with us please reach out.

I'm happy to help.

XOXO
Your favorite insurance lady, 
​Shauna