Author Archives: AgentInsure

The Basics of Personal Umbrella Insurance Coverage

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Umbrella insurance offers additional protection on top of your regular homeowner’s or auto insurance plan. Ideal if you’re at an above average risk for lawsuits or high medical costs, an umbrella policy helps you pay less or nothing if you’re involved in an extremely expensive accident.

Learn more about how an umbrella insurance policy benefits you and your family by contacting Pizano Insurance, a reputable business that assists Wayzata, MN and surrounding areas.

Umbrella Insurance Coverage

Umbrella coverage pays if you’re found liable for damages or have to pay for legal defense for a lawsuit—even if you’re not at fault. Once your basic liability coverage is exhausted, the umbrella policy pays the rest up to the limit of your coverage.

Importance of Umbrella Insurance

If you’re sued, your house, car, bank accounts, and future income may be at risk to pay the costs. Protect your most important assets with additional coverage to avoid financial ruin.

How to Choose Coverage Limits

Consider your risks as a renter or a homeowner. If you own a pool or trampoline and your kids’ friends are injured during a birthday party or other event, you could be sued for their medical expenses.

Also, consider the worth of your assets. The greater your assets, the higher your coverage limits should be in order to protect everything you’ve worked to accumulate.

Your future income needs to come into consideration, too. Even if you don’t have many assets, your future earnings are at risk, so your limits should be high enough to prevent having to give away your earnings for months or years.

If you live near the Wayzata, MN area, find out exactly how an umbrella insurance policy reduces your personal liability by getting in touch with a professional from Pizano Insurance who can go into detail about the specific coverage requirements that you need.

Updates on the Boat Insurance Proposal & the Loophole

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In the state of Minnesota, boat insurance doesn’t cover every occupant in a boat. As a matter of fact, it doesn’t even cover the spouse and children of the insurance policyholder. This has been the regulation for a long time; however, many legislators and advocates are now proposing the exclusion of this loophole. 

A report was previously made at www.minnesotanewsnetwork.com/advocates-want-plug-loophole-states-boat-insurance-law/ concerning this situation.  Last fall, a resident of Twin Cities has unfortunately gotten her foot severed on her family’s boat. In checking her husband’s boat insurance, she discovered that the boat insurance doesn’t cover her. One can only imagine the dismay, distraught, and financial peril this situation has caused in this family.  It’s also shocking how every family member could be covered in auto insurance but not boat insurance. was situation.

As a result, this lady is fighting the good fight along with advocates to change this boat insurance regulation. Even a report was made at www.fox9.com/news/new-bill-would-close-boating-insurance-loophole about this as well. Proposed bills have been made to address this issue among Minnesota’s Senate and House. So far, they’ve found out about the Watercraft Medical Payments Coverage, but even that has its limitations. Additionally, when the Insurance Federation of Minnesota was contacted concerning this type of coverage and its limitations, they responded by saying that they should contact their insurance agents. 

With this huge issue with boat insurance, it’s very important to contact reliable, dedicated, and experienced insurance agents, and that is where the Pizano Insurance Company comes into play.  Located in Wayzata, MN, this insurance company is ready to handle your boat and other insurance needs. With them, you will have peace of mind knowing that you and your loved ones are highly protected. Pizano Insurance of Wayzata, MN goes that extra mile and is always glad to assist their clients. They will do the same for you. So contact them now!

3 Things You Should Know About Commercial Insurance Coverage In Minnesota

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You think that you are covered for everything that can go wrong with your Wayzata, MN business because you have a little thing called liability insurance. Did you know, though, that commercial general liability (CGL) assurance is not your fix-all remedy in the business indemnity world? Here are three things you should know about commercial insurance coverage in Minnesota. An agent at Pizano Insurance can further help you make sense of the maze that is business insurance. 

1. There are three types of legal damages covered by CGL

The average general liability plan pays for compensatory, general, and punitive damages. Compensatory liabilities are those that lead to financial losses for the victim. Business owners may also need to pay for future losses in income if found liable for compensatory damages. On the other hand, general liabilities are those that typically have to do with physical pain and suffering or mental anguish. Punitive damages are classified as other expenses incurred by the victim that the guilty party must pay. 

2. Standard liability does not pay for everything

The business owner is fully responsible for costs related to sexual harassment, wrongful termination, and discrimination of persons who fall under classified categories. General liability coverage does not pay in instances where the business owner is found guilty of failing to promote a woman solely because of her gender. You, as the business owner, would have to pay for damages imposed on the victim out-of-pocket. 

3. There are other types of liability insurance

Business owners with large assets may consider investing in an additional umbrella policy that covers up to $5 million worth of lost or damaged items. It may also be ideal for companies in Wayzata, MN to invest in crime insurance, which pays for damages in the instance of a burglary. 

Whether you are searching for a basic business insurance policy or need a lot of coverage, Pizano Insurance is the right firm to choose. Call one of our friendly agents today to start your quote!

Avoiding Issues With Umbrella Insurance

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If you live in Albertville, MN and are considering umbrella insurance policies, it is important to talk to us at Pizano Insurance. We can provide you with a better understanding of the issues that can occur when you get these policies and how you can avoid them.

Coverage That Doesn’t Meet Your Needs

People who purchase umbrella insurance policies often try to save money by getting the cheapest possible policy. That is always a mistake because it can cause your coverage to lapse if incidents occur. For example, your policy may stall out on the liability of a car accident if you have your limit set too low. Don’t be afraid to spend a little bit of money with umbrella insurance to ensure you get the coverage you need. Cheap policies often have loopholes that can catch you and deny your coverage.

Policies That Cost Too Much

Some people may, conversely, go overboard and spend too much on their umbrella insurance policy. Remember that these policies are a type of extra liability coverage. They only go into effect if you cause an accident or harm to somebody else. When that happens, they help pay for medical expenses, repairs, and even lawsuits. If your liability coverage from your primary insurance is high enough for your needs, don’t spend too much on umbrella insurance.

Broad Coverage Types You Don’t Need

Umbrella insurance is designed to be broad but too many people get policies that are excessively broad. For example, you may purchase a policy that has liability coverage for a pool without owning a pool. Try to itemize your specific coverage to avoid paying too much for a policy that you don’t need.

Get The Help You Need

If you are struggling to find high-quality umbrella insurance in Albertville, MN, then please don’t hesitate to contact us at Pizano Insurance. We will sort through your options and find a type that works the best for your specific needs.

Lawful, Safe, Insured

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Three Characteristics of a Smart Motorcyclist

Motorcyclists are an eclectic group. Some ride the latest Harley while others love their rebuilt Indian from their younger days. The characteristics that bring them together are a commitment to safety on the road, legal use of eye wear and helmets, and reliable insurance that will back them up after an accident. This is why we are proud to provide policies for motorcyclists through Pizano Insurance serving the Albertville, MN area. Our agents are ready to work with you to find the policy that suits your needs today.

Safe On The Road

Being safe on the road, for a motorcyclist, means knowing that the drivers around you may not be aware of your presence nearby. Be aware of the behavior of other traffic around you and obey the laws of the road. Your quick reaction to the unpredictable behavior patterns of drivers around you will protect you and minimize danger.  

Legal Use Of Eyewear and Helmets

In Indiana motorcyclists are required by law to use helmets and protective eyewear if they are aged 18 or younger. After a motorcyclist turns 19, the decision is up to them. Many bikers routinely maintain these safety precautions. We enjoy seeing bikers around the Albertville, MN area practicing safety. 

Reliable Insurance

Pizano Insurance believes that motorcyclists need a fair deal when purchasing insurance coverage. Their needs are unique and they want the best coverage and rates available. That’s why we recommend you drop in for a visit or call us today; we can put the best insurance policies right in front of you immediately. So check us out, and have the peace of mind that lets you focus on those road trips you’ve got planned. 

If Someone Gets Hurt on My Property Am I Liable?

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As a property owner in Albertville, MN, you have a responsibility to maintain a safe environment so that people who come on the property don’t suffer any type of injury. This responsibility has an official name – premises liability. This essentially means that residents of a property or property owners are liable for any accident or injury that occurs on their property.

This is why it is so important for you to purchase a property insurance policy from Pizano Insurance, to protect yourself.

How is Liability Determined

It is important to understand that liability will also be dependent on several factors. Some of the factors that determine liability include:

  • The visitor’s legal status (i.e. an invitee, social guest, licensee, trespasser, etc.)

  • The property’s condition and the actions of the visitor and the owner

  • If the person who suffered the injury was a child or trespasser

  • If the owner or the visitor had any fault in the action that resulted in the injury

  • The special rules that apply to landlords

What to Do to Prevent Accidents on Your Property

To help reduce the risk of an accident occurring on your property, you need to take steps to ensure everything is in good repair. The fact is, if someone trips, slips, falls or is injured in some other way, you are legally responsible. If you have the proper insurance policy in place, then you don’t have to worry about paying for the injuries or damages that occur out of your own pocket.

Learn more about insurance for your property and to protect yourself and your assets in Albertville, MN by contacting the helpful staff at Pizano Insurance. 

 

Why Every Landlord Needs Umbrella Insurance for Their Rentals

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 So, you own a residential property that you rent out to others? Whether it is a full home, single apartment or room, congratulations are in order. Real estate management is one of the best ways to attain wealth.

Now your task is to retain the standard of living you have acquired. Never make the mistake of assuming that your standard home insurance policy is always enough to protect your investment in times of need. When an accident, lawsuit or other calamity strikes, you will need way more financial resources.

Umbrella Insurance

Assuming that standard home insurance coverage will save you in times of need can prove a costly mistake. The costs of litigation, medical bills and home renovations are rising exponentially. In Albertville, MN there have been owners who have lost their properties totally after an unforeseen accident. Do not let this happen to you.

All you have to do is speak with the trusted agents at Pizano Insurance for professional advice about umbrella insurance to cover your rental property.

Umbrella insurance is a policy that extends your current coverage for miscellaneous events. Think of it as your safety net.

The Problem

Unfortunately, the internet has provided renters with lots of misinformation about their so-called rights. Landlords find themselves under siege. Lawsuits are filed daily, often for trivial reasons. Some unfortunate landlords have to settle out of court just to save money. Others cannot afford to litigate and have to go bankrupt. They lose their rental properties. Umbrella coverage could have saved them.

Likewise, when disaster strikes, such as a flood or fire, you do not want to count on your standard insurance to take care of the bills. Displaced tenants may need somewhere to stay in the interim while you repair the facility. Guess what? You might have to pay for them. The amount can be staggering. Fortunately, with umbrella insurance, you will be better able to take care of these expenses.

Get More Information Today

All you have to do now is contact the helpful agents at Pizano Insurance to find out more about umbrella policies. These professionals want to help you be the best Albertville, MN landlord possible.

4 Things to Know About Your Auto Insurance

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When it comes to getting auto insurance in and around Albertville, MN, Pizano Insurance can help. They can also advise you about the best policy to choose from for your needs, so you can have good protection for your car along with peace of mind. But before you buy a policy, make sure you talk with your agent so you can make an informed decision. Here are four of the things you should know about your car insurance.

1. Policies should be reviewed periodically

Because driving needs change, it’s a good idea to go over your policy with your agent every six months or a year.

2. Different states have different minimum requirements

If you move from one state to another, what you’re required to have for auto insurance could change.

3. Not all vehicles need more than minimum coverage – but it’s still a good idea

If your car is paid for you don’t need comprehensive or collision, but if the vehicle has value it’s still a good idea to keep those coverages.

4. comparing prices should include comparing value, too

The cheapest car insurance may not be what’s right for you, and paying a little more could mean getting a lot higher value in the long run.

With a good insurance agent to help you, it’s not difficult to get a quality auto insurance policy for a fair price. That’s ultimately what you want to work toward because the lowest price isn’t always the best choice. Instead, you want a policy that’s really going to protect your investment. By trusting your Albertville, MN area car to Pizano Insurance, you can get the help and support you need to choose the right policy for your vehicle and driving needs.

When is Umbrella Insurance a Good Idea to Purchase?

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Finding yourself in a situation where you are liable for an amount that extends far beyond your insurance policy, like a horrible car wreck, that is when Umbrella Insurance can be handy. If you are left without some sort of extended coverage, you are on the hook for paying the rest of the damages out of your own pocket.

If you feel that you need umbrella insurance and you are in the Albertville, MN area, consider contacting Pizano Insurance for a quote.

Considering that umbrella insurance policies cover multiple facets of one’s life, it is probably a good idea to get it if you have a lot on the line. Some forms of insurance will cap out at $300,000 or less, which is quite low if you are involved with high-value individuals or property. Instead of having your assets wiped out from a single lawsuit, monthly insurance payments is quite a low price to pay.

Let’s not discount the legal fees associated with a high-value lawsuit. Regardless of the result, consulting with a lawyer for such cases is not cheap and some will charge hourly. Even settling outside of court will add a significant amount to the whole ordeal, which is often covered by umbrella insurance policies.

Keep in mind that some items are excluded from most umbrella policies. This may include malpractice cases, claims against employers, business-related activity, or intentional damage.

To determine if you need umbrella insurance, you will need to evaluate your own lifestyle, assets, and income level. If you have a lot of wealth to lose, umbrella insurance can protect your from a wide variety of surprises in life, much like an umbrella protecting yours from the rain. If you are still interested in this plan and you are in Albertville, MN, check out Pizano Insurance.

 

When is Boat Insurance Needed?

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Owning and operating a boat can a very fun activity, particularly during the warm summer months of the year.  For those that are in the Albertville, MN area, buying a new or used boat is a big decision.  Since it is such a big investment, getting insurance on the boat may be a necessity.  There are several reasons why having a qualified boat insurance policy is necessary for you.

Liability

One of the main reasons why you should get boat insurance is that owning and operating a boat comes with a lot of liability.  Whenever you take your boat into the water, you are taking on responsibilities for all passengers, other people in the water, and any personal or public property nearby.  If you happen to get into an accident, you could be found liable for all of the damage.  Having a liability policy in place will provide you with coverage in the event you are found liable. 

Property Coverage

Another reason you need boat insurance is that it is an expensive asset that needs to be properly covered.  Buying a boat is always a big purchase.  If you have an insurance policy on the boat, you will receive coverage and reimbursement in the event it is stolen, damaged, or involved in an accident.  Having insurance on the boat is also likely a requirement if you took a loan to purchase the boat.  In these cases, you will likely need to have coverage equal to at least the balance of the loan. 

If you are trying to better determine your boat insurance needs, contacting the Pizano Insurance company is a great option. Pizano Insurance can help Albertville, MN area residents determine if they need boat insurance and how much coverage is necessary.  They can then help anyone get into a policy that meets their needs.