Razor Insurance Group

Home Insurance

Don’t overpay for home insurance! Protect your home and possessions at an affordable price with Razor Insurance Group.
Most homeowner’s insurance policies include coverage for personal effects and separate structures on your property, but what happens if you encounter fire, hail damage, flooding and vandalism are all issues to look at. The Razor Team can find the best coverage with the most affordable deductible.
  • Colorado is in the middle when it comes to average homeowners insurance rates in the US. The average home insurance premium in the state of Colorado was $1,383, about the same as the national average of $1,173. There are eight states that have higher average homeowners insurance rates than Colorado.

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Razor Vehicle Insurance

Vehicle Insurance

We work with the TOP insurance providers to help you get quotes quickly and efficiently. Full coverage auto insurance includes:

  • Liability Insurance. This coverage pays for damages that are the result of an accident that you are found responsible for. 
  • Collision insurance. This covers damages that are the result of many kinds of incidents that occur when your car is in motion.
  • Comprehensive insurance. This covers damage to your vehicle that is not due to an accident. 

Vehicles include: cars, trucks, scooters, motorcycles, jet skis and snowmobiles.

Automobile owners in Colorado are required to carry liability insurance.  Liability insurance covers bodily injury to another person or property damage to another’s vehicle or property when the insured is at fault for an accident.  The following minimum coverages are required by the state, although higher coverages may be purchased:

  • $25,000 for bodily injury or death to any one person in an accident;
  • $50,000 for bodily injury or death to all persons in any one accident; and
  • $15,000 for property damage in any one accident. 

Commercial Insurance

Commercial vehicle insurance is a specialized car insurance policy designed to cover business-owned vehicles of all sizes and types. If your business owns vehicles, Colorado law requires that these cars, trucks, vans, or buses be covered by commercial vehicle insurance.

Commercial auto insurance is used for a variety of businesses:

  • Business Auto
  • Contractors
  • Food Trucks
  • For-Hire Livery
  • Heavy Truck
  • Tow Truck

Life Insurance

Different types of life insurance meet the needs for people in various stages of life. Review your insurance coverage and, when necessary, change the type of policy as your needs change.

There are 3 basic life insurance types:

Term Life Insurance

Term Life Insurance is the simplest and least expensive type of policy, with no cash value. A term life policy has only one function to pay a specific lump sum to the beneficiary that has been designated, upon a specific event the death of the insured person. The death benefit and the policy limit are the same — for example, a $200,000 policy pays a $200,000 death benefit. The policy protects your family by providing money to replace your salary, income or other contributions, as well as covering final expenses incurred at death.

As agreed in the contract, the premium must be paid, and if you stop paying, the policy ends (lapses.) You won’t owe the insurance company and they won’t owe you a refund for the premiums paid if it lapses before the end of the term.

If the insured person is still alive at the end of the term, you do not get your money back. A term insurance policy is over unless you can renew the policy. If you renew (if the policy has that feature), it will renew at a higher price reflecting the current age of the insured person. Term insurance has no buildup of cash value as some other types of insurance allow. (There are some term life insurance policies that offer a return of premium; be sure you understand the policy you are buying.)

Term life insurance is for people who don’t need life insurance for an indefinite period of time. It provides for people who depend on you, but generally ends by the time children are grown and independent, often when the policy owner is ready to retire.
Other types of life insurance provide both a death benefit and a cash value. Their premiums are higher than term life premiums, because they fund the cash value account in addition to providing insurance. These policies are often referred to as cash value policies.

Whole Life Insurance

Whole Life Insurance is designed to provide protection for dependents while building cash value. The policy pays a death benefit if the insured person dies. However, there is also a savings component (called cash value), which builds over time.
In addition to paying a death benefit, a whole life policy allows accumulation of cash value that the policy owner receives if the policy is surrendered.

The premium is fixed and won’t increase during the lifetime of the insured person as long as premiums are paid as agreed, for the entire time the policy is in force. The policy pays upon the death of the insured or when the insured person reaches a specific age stated in the policy.

Whole life policies cost more than term insurance, but have the benefit that the policy builds cash value.

Universal Life Insurance

Universal Life Insurance gives the policyholder more control over premiums, provides permanent protection for dependents and is more flexible than a whole life policy. It pays a death benefit to the named beneficiary, and allows the ability to accumulate cash value.

Generally, a universal life policy provides flexibility by allowing the policy owner to change the death benefit at certain times, or to vary the amount or timing of premium payments.

Both the universal life policy and whole life policy allow withdrawals or loans against the cash value of the policy. Another type of insurance, variable life, offers additional investment options in separate accounts. It also requires that the policy owner take time to manage the investments.

© 2024 / Razor Insurance Group
1873 S. Bellaire Street / Suite 201

Denver, CO 80222
(303) 768-0000

Our preferred carriers:
• American Modern
• Foremost
• Progressive
• Safeco Insurance
• State Auto Insurance Companies
• Travelers