Main Street Insurance - Patrick Murakami Agency FAQ

Colorado Springs, CO

About Our Agency

What makes Main Street Insurance different from online companies?

As an independent broker in Colorado Springs since 2019, I work for you, not the insurance company. With 20 years of insurance experience, I shop multiple carriers as your advocate to find the best coverage and rates - something you can't get buying direct from a single company. When major storms hit Colorado Springs, you'll have a local advocate who understands our unique risks and has relationships with multiple carriers to get claims resolved fairly. I'm building long-term relationships with clients, not just selling policies.

I'm a Colorado Springs native - my dad used to take me downtown to work on side jobs where I'd clean up and run him tools inside many of the buildings still standing today. I don't just work here, I live and breathe Colorado Springs. While other companies rely on paid ads and purchased leads, we've grown through community word-of-mouth, with 90% of our business coming from referrals within local groups like the 411 for the 719, which has over 100,000 Colorado Springs residents.

Which insurance companies do you work with?

I partner with nationally recognized carriers and regional specialists that understand Colorado risks. My carrier relationships allow me to offer competitive rates and specialized coverage options. I'll share specific options when providing your personalized quote based on your unique needs.

Auto Insurance

What car insurance do I need in Colorado?

Colorado requires minimum liability of $25,000/$50,000/$15,000, but these limits provide very limited asset protection. I recommend at least $100,000/$300,000/$50,000 plus comprehensive coverage. With Colorado Springs averaging multiple hail events annually and mountain driving risks, adequate coverage protects your financial future.

How much does auto insurance cost in Colorado Springs?

Costs vary based on driving record, vehicle type, coverage limits, credit score, and location. Most drivers invest several hundred to over a thousand dollars annually for quality coverage. I'll provide personalized quotes from multiple carriers to find your best rate.

What's ACV versus RCV coverage?

Actual Cash Value (ACV) pays depreciated value, while Replacement Cost Value (RCV) pays for new replacements. Example: hail damages your 5-year-old roof - ACV might pay $8,000 while RCV pays $15,000 for a new roof. I typically recommend RCV for better protection.

Home Insurance

How much does homeowners insurance cost in Colorado Springs?

Costs depend on home value, age, location, coverage limits, and risk factors. Investment ranges from under a thousand to several thousand annually. Homes in high-risk areas like Black Forest or near the foothills require specialized coverage affecting pricing.

Will hail damage claims increase my rates?

No - quality carriers don't penalize weather-related comprehensive claims. However, your wind/hail deductible structure matters significantly. I help you choose deductibles you can actually afford when storms hit.

Do I need flood insurance in Colorado Springs?

Most homes don't require flood coverage, but properties near Fountain Creek, Monument Creek, or areas that flooded in 2013 should consider it. Flood insurance costs $400-800 annually and requires a 30-day waiting period.

Do I need an umbrella policy?

If you have assets to protect, umbrella insurance provides additional liability coverage above your auto/home limits. For $200-400 annually, you get $1 million in extra protection - often your best insurance value.

Business Insurance

What business insurance do Colorado Springs companies need?

Every business needs general liability, and most need workers' compensation with employees. I specialize in local businesses and provide comprehensive commercial coverage including commercial property (building/equipment protection), commercial auto, professional liability, employment practices liability, directors and officers coverage, and business interruption insurance. Each industry has unique needs - restaurants need liquor liability, contractors need tools coverage, and tech companies need specialized cyber protection.

What does cyber liability insurance cover?

Cyber coverage protects from data breaches, cyber attacks, and technology failures. It covers customer notification costs, credit monitoring, legal fees, and business interruption. Essential for any business storing customer data or relying on technology

Service and Claims

How do I contact you for service?

Phone: 719-309-6439
Email: PatrickM@Themainstreetagency.com
Facebook: www.facebook.com/mainstreetpatrick
Text messaging available

I aim for same-day responses, with immediate attention for urgent claims situations.

What happens when I file a claim?

Contact me first. I'll guide you through the process, contact your carrier, and advocate for fair treatment. Having a local agent who knows the claims process helps ensure smooth, efficient resolution. As one recent client shared: "Patrick and his team looked for rural insurance for us on short notice under a tight timeline. His experience with different insurance agencies helped focus on our unique situation. I appreciated his responsiveness and explaining the insurance nuances. I'd definitely recommend him and his office."

Getting Started

How do I get quotes?

Contact me through any method above or visit www.insurancewithapurpose.com to start the shopping process. I'll need current policy info (if applicable), driver's license, and basic details about your coverage needs. Most quotes ready within 24 hours.

Can I save money by bundling policies?

Yes - bundling auto and home typically saves 5-25%. I'll compare bundled rates across multiple carriers to find your best combination of coverage and savings. Most carriers also offer paid-in-full discounts of 5-10%.

How quickly can I switch insurance?

Usually 1-2 weeks. I handle all paperwork and coordinate timing to prevent coverage gaps. I also notify your mortgage company of any homeowners insurance changes to avoid escrow issues.

Ready to explore better coverage options?
Start your quote at www.insurancewithapurpose.com

Patrick Murakami - Main Street Insurance
Colorado Springs, CO
719-309-6439