Metro West Advertiser June 13, 2024

by

Photo

Michael Pintar Photography

Readers Haven’t Come Up With Solutions to the Home Insurance Crisis, Just Lots of Horror Stories

My May 16 column, “A Full-Blown Home Insurance Crisis Is Brewing,” invited readers to share their personal experiences and also any suggestions they had for solving the crisis, which is getting worse by the minute.

There has been some good national coverage of the subject in the press and on television news programs. The bottom line is that even places like Colorado which don’t experience as many disasters as the two coasts and “tornado alley” are subject to increases in insurance premiums due to payouts elsewhere.

er more foothills areas than they do areas in the plains. Those two ZIP codes encompass 184 square miles — bigger than the 64 Zip codes in Denver, including the airport’s 54 square miles!

According to economist Elliot Eisenberg, “In 2013 and 2014, the number of weather/climate disasters exceeding $1 billion inflation-adjusted was 10. In 2017, the number hit 19, in 2020 it was 22, and… the number reached a record 28 in 2023. The years 2020-2023 have been four of the worst five years, with 2017 also in the top five.”

A May 13, 2024, article in the New York Times detailed the increasing losses by insurers in all 50 states. That included Colorado, where insurers have lost money is all but three years since 2013. The article quoted Dave Jones of the Climate Risk Initiative at UC Berkeley as saying, “I believe we’re marching toward an uninsurable future.” I have posted a link to that Times article at http://RealEstateToday.substack.com.

There’s a local problem which we’ve seen here in Golden, where our two main ZIP codes (80401 and 80403) cov-

Some insurance companies are withdrawing not just from individual communities with serious wildfire risk, but from complete ZIP codes containing areas with elevated wildfire risk.

If your home has a mortgage, your lender typically requires insurance, but when there is no mortgage, homeowners can choose not to have insurance, and a growing number of such homeowners are going without coverage — 14 percent according to a March 2024 report from the Consumer Federation of America.

Similarly, if you don’t have a loan on your automobile, you can choose not to have collision, comprehensive or theft insurance on your car, and I’m among those who are taking that risk because of the high cost of those coverages. An article on Forbes.com last week reported that 25% of car owners don’t have collision insurance.

HOAs are being hit especially hard when it comes to master policies. Reader KC Harney wrote me about an HOA in Parker which, following a May 2023 hail claim, raised the premium from $178,000 per year with a $2 million deductible to $337,000 per year with a $4 million deductible. This resulted in a special assessment of $12,000 per HOA member. It should be noted, KC told

Rules for Buyer Agent Agreements Badly Flawed

Last week the National Association of Realtors (NAR) fleshed out the rules it will enforce regarding the written agreement which a buyer and agent must sign before a buyer can be shown a listing.

On the one hand, NAR says it’s important for the buyer agreement to stress that agent commissions are negotiable, but on the other hand it says that the agreement signed by buyer and agent must spell out a fee/commission that cannot be increased by any source.

In other words, I’m required to have a buyer sign an agreement that they will pay me an acceptable ultimate fee for my efforts on their behalf. But if I agree, say, to a 1% or 2% commission agreement and I help them buy a house from a seller will-

Summer Solstice Party on June 20

If, like me, you support the work of New Energy Colorado, which, among other things, sponsors the annual Green Homes Tour, you’ll want to attend its annual fundraiser on June 20th at Solterra. See www.NewEnergyColorado.org

me, that the May 2023 event cost only $1.9 million to repair, which was less than the $2 million deductible, so the insurance company paid out nothing, yet they raised the premium and the deductible because there was a claim!

Broker associate Chuck Brown told me how insurance costs nearly killed a transaction of his in Evergreen. The buyer was turned down by just about every major insurance carrier before obtaining a policy from Farmers Insurance for $9,000 per year with a $35,000 deductible for fire and hail. The next lowest offer was a $19,000 premium from Highlight.

Colorado Law Passed in 2023 Is But a Limited Solution to Problem

Last May, Governor Polis signed into law HB23-1288, the Fair Access to Insurance Requirements Plan, commonly known as the FAIR Plan. The 9member board of the Plan is still setting up shop and won’t issue insurance policies until early 2025. In essence, the FAIR Plan is an insurer of last resort for homeowners and businesses who cannot get coverage from any insurer operating in Colorado.

Every insurer in Colorado must participate in the Plan. The concept is that all Colorado insurance carriers share the expenses, income and losses, ensuring a fair distribution of costs.

The policies issued under the FAIR

Plan are not subsidized. The premiums are required to be “actuarially sound.” Coverage is limited to $750,000 for homes and $1 million for businesses, which will result in under-insurance for many clients, so it’s not a perfect fix and doesn’t promise seriously lower insurance rates. It only guarantees that homeowners and businesses will be able to obtain insurance.

I’m troubled by the Plan’s requirement that a homeowner or business be unable to obtain insurance. The homeowners and HOA mentioned above were not denied insurance, just overcharged, so they wouldn’t be eligible.

It still runs like new, although it has 102,700 miles on the odometer. I’m letting it go for $20,000. Call me at 303-5251851 for a test drive. You’ll love this car.

Price Reduced on 3-BR Lakewood Home

$529,000

ing to pay me a much higher co-op commission (because they want their home to sell quickly), I can only accept from the seller the amount in my buyer agreement.

This is madness! What it will do is drive buyers to work only with listing agents, which is not good public policy. Every buyer deserves to have an agent working on his or her behalf.

What’s also being overlooked throughout this months-long discussion of the NAR settlement is that most buyers are hard pressed to come up with their down payment, so how can you expect them to pay thousands in additional dollars for professional representation? They will not get the representation they deserve by working only with the agents representing sellers.

That is why the old system of sellers paying a commission which the listing agent can share with a buyer’s agent is the only and best way of serving both buyers and sellers — but that ship has sailed, unfortunately. It will be interesting to see the chaos resulting from these new rules.

This bi-level home at 11296 W. Kentucky Drive has been well maintained by the seller. It was painted and walkways replaced in 2006, and a new roof & siding were installed in 2017. The garage door was new in 2009. The seller put in a new, energy efficient furnace in 2014 and new acrylic shower & shower doors in 2007. The backyard is mostly flat and completely fenced. There are lilacs on two sides of the house, and an ornamental plum and two purple ash trees are in the backyard. (See photo.) Briarwood Hills is a very quiet, friendly neighborhood. Most of the surrounding homeowners care about their yards, as does this seller. View a narrated video walk-through online at www. GRElistings.com, then call listing agent Jim Swanson at 303-929-2727 to see it.

“Concentrate on giving and the getting will take care of itself.”

For Sale: My 2015 Tesla Model S

Meet third-generation hat shaper Parker Thomas at the Mile High Hoedown

BY JO ANN M. COLTON

Colorado-born Parker omas Orms always envisioned himself growing up and tackling life head-on as an athlete on a sports eld. So, how did he wind up being a hat shaper and owner of Hats By Parker omas? e answer is… fate! Parker’s father Glenn has been a hat shaper all his life following the tradition set by his own father. Parker’s grandpa Dewey started shaping hats 65 years ago in Texas — and did so until his death in 2022.

Parker inherited his passion for playing sports from his mom and her family. His mother Katherine lettered in softball at Northern Colorado in the 1970s.

Parker omas Orms attended Colorado University Boulder (20102013) on a football scholarship and played defensive back for the Colorado Bu aloes football team. He was an engaging presence on the eld and a fan favorite. Parker was on the path to joining the NFL although football-related injuries (shoulder and hamstring injuries and a torn ACL for which he had to undergo surgery) likely ended that pursuit.

In 2015, Parker traveled to Milan to play semi-pro football as a Free Safety Punt Return Man for the Milano Rhinos, Italy’s professional league. But after playing his last football season in Europe, Parker omas came home to his family and the family traditions that are tightly woven into the fabric of his being. So, it wasn’t just a “hat” trick that led him to become a hat shaper and Parker’s success is proving to be far more rewarding than he could ever have imagined.

“I worked with my father and grandfather for eight years. Traveling around di erent rodeos and western-themed events, I shaped and designed cowboy and fedora hats,” said

Parker who has been adding his own sense of style and creativity to traditional hats while shaping his own destiny in the process.

en he opened Hats By Parker omas (https://www.hatsbyparkerthomas.com/) two years ago at 257 Fillmore St., Unit 110, in the Cherry Creek area of Denver where he meets with his clientele by appointment. Parker and his small team of hat craftsmen also shape and sell his hats nationwide at private home parties (with 5-25 people), weddings, corporate gatherings, and community events. Likewise, sports gures and celebrities like Reba McEntire are now a part of his overall customer base. Most of Parker’s bookings are

made through his business location or through Instagram and TikTok. e store and private events keep Parker busy these days but he still enjoys opportunities to be part of community events like the June 29 Mile High Hoedown at the Stampede in Aurora.

“I am really looking forward to meeting people at the Mile High Hoedown,” said Parker who explained that he welcomes every opportunity to support Colorado’s lifestyles and interact with athletes/artists, and all others within its many communities.

“Each hat and design depends on the needs of the customer and the customizations they choose,” said Parker. He stated that although he can

shape any type hat he especially enjoys creating cowboy style hats, which are so very popular throughout Colorado.

“Most hats can be done in around 30 minutes and I will make your hat to order right there at the Mile High Hoedown,” said Parker who mentioned that his custom wool or beaver-blend hats range from $200 to $450. For additional fees he also o ers cleaning, reshaping and branding services.

Music lovers won’t want to miss a beat when Boulder’s very own Sun Jr. brings their “Psych Mountain Rock” sounds to the stage. Dancers will love learning the latest line dances taught throughout the day by dance instructor/choreographer Laurie Burkardt. Attendees can visit vendor booths and print their own shirt or tank top with Ink and Drink, obtain a ash tattoo from Ace of MR. ACE Art & Tattoos, and get interactive with some “not permanent but cool” body art/ face painting and/or hair sparkle accents from Little People Face Painting. Enjoy food truck food/beverages, and stop by and meet with hat shaper Parker omas to purchase your custom hat!

Get the “low down” on the Hoedown (tickets and more) at coloradocommunitymedia.com. Mark your calendars for CCM’s Mile High Hoedown on Saturday/June 29 (11:00am-5:00pm) at the Stampede, 2431 S. Havana Street in Aurora. Socialize with friends and/or family, eat/ drink/kick up your heels—and just have a rip-roaring good time! Tickets are $20/per ticket; $25.00 at the door and includes the entry fee only. For a limited time, CCM is running a BOGO promotion on its website; don’t miss out BUY YOUR TICKETS TODAY!

SERVICE DIRECTORY

Garage and Estate Sales

Garage Sales

Something for everyone! Housewares, Clothing, Tools, Camping, Fishing, and more. Fri., 6/14 & Sat.6/15, 9 - 5. 421 N. 16th Ave., Brighton Merchandise

Lawn & Garden

Professional lawn service: Fertilization, weed control, seeding, aeration & mosquito control. Call now for a free quote. Ask about our first application special! 1-833606-6777

Health & Beauty

VIAGRA and CIALIS USERS!

50 Generic Pills SPECIAL $99.00

100% guaranteed. 24/7 CALL NOW! 888-445-5928

Hablamos Espanol

Dental insurance from Physicians Mutual Insurance Company. Coverage for 400+ procedures. Real dental insurance - not just a discount plan. Get your free Information Kit with details! 1-855-526-1060

www.dental50plus.com/ads #6258 Medical

Attention oxygen therapy users! Discover oxygen therapy that moves with you with Inogen Portable Oxygen Concentrators. Free information kit. 1-866-4779045

Miscellaneous

Replace your roof w/the best looking & longest lasting material steel from Erie Metal Roofs! 3 styles & multiple colors available. Guaranteed to last a lifetime! Limited Time Offer up to 50% off install + Additional 10% off install (military, health & 1st responders.) 1-833-370-1234

Diagnosed with lung cancer & 65+?

You may qualify for a substantial cash award. No obligation! We’ve recovered millions. Let us help! Call 24/7 1-877-707-5707

Prepare for power outages today with a Generac Home Standby Generator. Act now to receive a FREE 7-Year warranty with qualifying purchase* Call 1-855-9486176 today to schedule a free quote. It’s not just a generator. It’s a power move.

Get DISH Satellite TV + Internet! Free Install, Free HD-DVR Upgrade, 80,000 On-Demand Movies, Plus Limited Time Up To $600 In Gift Cards. Call Today! 1-866-479-1516

Miscellaneous

Become a published author We want to read your book! Dorrance Publishing trusted since 1920. Consultation, production, promotion & distribution. Call for free author`s guide 1-877-7294998 or visit dorranceinfo. com/ads

Bath & shower updates in as little as 1 day! Affordable pricesNo payments for 18 months! Lifetime warranty & professional installs. Senior & military discounts available. 1-877-543-9189

Jacuzzi Bath Remodel can install a new, custom bath or shower in as little as one day. For a lim-ited time, waving ALL installation costs! (Additional terms apply. Subject to change and vary by dealer.) Offer ends 6/30/24. Call 1-844-501-3208

Aging Roof? New Homeowner? Got Storm Damage? You need a local expert provider that proudly stands behind their work. Fast, free estimate. Financing available. Call 1-888-878-9091

Miscellaneous

DIRECTV Stream - Carries the most local MLB Games! Choice Package $89.99/ mo for 12 mos Stream on 20 devices at once. HBO Max included for 3 mos (w/ Choice Package or higher.) No contract or hidden fees! Some restrictions apply. Call IVS 1-866-859-0405

!!OLD GUITARS WANTED!! GIBSON, FENDER, MARTIN, Etc. 1930’s to 1980’s. TOP DOLLAR PAID. CALL TOLL FREE 1-866433-8277

Pets

Dogs

Don’t Get Stuck Without A/C This Summer!

Colorado Community Media to Hold its First 5K Run

BY JO ANN M. COLTON

ere is no better way to appreciate the beauty of Colorado than by witnessing all the sights and sounds of the great outdoors.

from walking and/or running along our state’s many wonderful paths and scenic nature trails.

Join Colorado Community Media as we host our rst-ever 5K run on Saturday, Aug. 24, at Clement Park, 7306 W. Bowles Ave. in Littleton.

And, before the run, we want you to submit your own “Trail Tales,” including photos, to your local newspaper (events@coloradocommunitymedia. com). Tell us where you most enjoy going for a walk or a run in your commuor elsewhere in Colorado.

In turn, we will share many of those adventurous tales with the readers of our two dozen community newspapers in the weeks ahead of the run.

ere are no prizes associated with the event and participants will not receive a “standard” T-shirt. Instead, registered participants will receive a pair of custom running socks. e Share Your Trail Tales 5k Run is open to people of all ages. Participants have the option of making it a fun- lled day for the entire family. Registration fees are $35 for adults (ages 17 & up), $15 (ages 5 to 16), and free for children (ages 4 and under ). Parking for run participants and event attendees is available in the west parking lot, which can be reached as you enter Clement Park through the Library entrance on W. Bowles Avenue.

ent Park is currently being rmed up to feature other activities throughout the day including food and beverage purchase options o ered by local food trucks, vendor booths, and live music entertainment.

About the 5k: It is scheduled to loop around Johnston Reservoir from 9:30 a.m. to noon. It will start and end on the bike path near Shelter P. e event is di erent from most 5k runs in many ways. For starters, the sole purpose of this event is to simply provide an opportunity for people across Colorado to come together, interact, and share their personal experiences gained

Colorado Community Media publications span eight counties along Colorado’s majestic Front Range — Weld, Adams, Je co, Clear Creek, Douglas, Elbert, Arapahoe and Denver. As a nonpro t organization, community is important to us and we are eager to reach out and meet members of the communities our news organization serves.

Carlie Scott, Colorado Community Media’s events director, stated that the program for the Aug. 24 run in Clem-

“Your support of this event as a race participant and/or as an attendee is paramount to the success of our rst Share Your Trail Tales 5k Run and it will help us sustain our ability to support local news,” Scott said. “We encourage the engagement of our readers and future readers to be part of this and future events at Colorado Community Media.” Colorado Community Media could not put on events like this 5k run without the help of its dedicated supporters and sponsors. Sponsorship provides an ideal marketing prospect for your business and positive brand recognition. e organization o ers many levels of sponsorship and opportunities for involvement. As a sponsor, you can be part of a fun community event that promotes health and wellness.

To register for the Share Your Trail Tales 5k please visit our website www.coloradocommunitymedia.com and

FLASHTATTOOSWITHMR.ACE** MAKECUSTOMHATSWITHPARKERTHOMAS** LEARNPOPULARLINEDANCESWITHLAURIEBURKHARDT BODYART/FACEPAINTING&SPARKLEHAIRWITH LITTLEPEOPLEFACEPAINTING**

SCREENPRINTYOUROWNT-SHIRTANDLEARNHOWTOCREATIVECUT YOURT-SHIRTSWITHINK&DRINK** FOODTRUCKS&DRINKS**