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Amerimex Insurance
240 S Sheridan Blvd
Denver, CO 80226

Phone:
(303) 462 1410
Fax:
(303) 462 1446
E-mail: george@amerimexonline.com

   

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FAQs

 

What is included in my Home Owner's Insurance policy cover? Is there anything specific I need to keep in mind before buying a policy?
Your home owner's insurance covers your house, any permanent fixtures and fittings, garden walls, gates, fence, pool and your personal belongings. Home owner's insurance protects you from specific types of home-related accidents and incidents. The most common types are fire, theft and vandalism. It also provides additional living expenses such as hotel expenses in case you are unable to stay in your home due to accidents or other incidents. The policy also provides liability protection. Ideally, you should select the amount of coverage which can replace your home and property plus some amount to cover your liabilities. Also, if you are staying in a flood or earthquake-risk area, you should separately purchase flood/earthquake insurance as home owner's insurance doesn't usually cover flood and earthquake.
  
May I increase or decrease the amount of insurance on personal items in my home?
Initially, your personal property coverage usually reflects 50 percent of your home insurance coverage. It may be increased or decreased, depending upon state requirements.
 
Can I lower my home insurance premium?
Yes, you can lower your home owner 's insurance premium by asking for discounts on your current policy, holding multiple insurance policies with your insurance carrier and raising your deductible.
 
What is Term Insurance and how does it differ from Life Assurance?
There are two main types of life insurance policy. Term Insurance pays out a sum if the holder dies during the fixed period of the policy. Life Assurance also offers a lump sum payout to dependents should the policy holder die during the period of the policy; but if he/she survives that period then he/she will receive the payment. Life Assurance is also seen as an important investment option. The payments for Life Assurance are greater than Term Insurance.
 
Why do different people pay different levels of premium?
The amount you pay depends on the level of risk you provide to your lender. The price you pay for life insurance mainly depends on your age, health, lifestyle and occupation. So if you are older, have health problems and smoke, and happen to work in a dangerous environment, you will have to pay more for life insurance than someone who is younger, healthier, a non-smoker in a low risk occupation.
 
What is Limited-pay Insurance?
Limited-pay life insurance is a type of insurance where all the premiums are paid over a specified period after which no additional premiums are due to keep the policy alive.
 
Are the proceeds of life insurance policy taxable?
Generally they aren't subject to income taxes. However, they may be subject to estate taxes such as inheritance tax.
 
How long after filing an insurance claim do you receive the payment?
You should expect to receive forms and information in 5 to 10 days. Once the Death Certificate and forms have been returned, payment should be issued within the same time frame.