Author Archives: AgentInsure

Does Home Insurance Policy Cover Smoke Damage in Minnesota?

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When a fire occurs and your house is damaged from the smoke, it may be necessary to file a claim with your home insurance provider. Although many policies will cover any damages that are related to a fire, including the damages from smoke, the exact details relating to the plan can vary.

Type of Policy

Before you assume that your insurance provider will pay for all of the damages to your property, look at the type of policy that you purchased. Be aware of the method of replacing or repairing the damages. Generally, insurance providers will either provide the replacement cost of the item or the market value based on depreciation rates.

The type of policy that you purchased can impact the amount that you receive after filing a claim and the details related to the damages that are covered.

Provide Appropriate Paperwork

Although you may be able to make a claim, it is important to file the appropriate paperwork. You may be asked to provide details related to the items that were damaged from the smoke. Furthermore, you will be asked to provide official reports and any details that are relevent to the situation.

Insurance providers can ask for a variety of documents, so make sure that you provide as many details as possible so that your claim will go through. The details that are required can vary between policies and insurers.

There are a variety of factors that contribute to making a claim on your homeowner’s policy, but most plans will protect against damages from smoke or fires. The exact amount of coverage that is available may vary based on the plan that you purchased. To learn more about filing a claim after a fire, contact us to talk to an agent today.

Can Insurance be Transferred to a New Car in Saint Michael, MN?

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When you buy a new car in Saint Michael, MN, you may need to make changes to your car insurance policy. Although the coverage that you carry may be appropriate, it is important to transfer the policy to the new car so that it is properly covered.

Contact the Insurance Provider

Before you take any steps to change the insurance, contact a representative of the insurance provider and ask about your options. You may decide that transferring the policy is not appropriate because you are still driving the old car or you may need to consider a new plan if the cost of your coverage increases with the new car.

Expect some changes based on the vehicle that you have purchased and the details of the situation. Generally, you can expect the rates to change slightly.

Provide Appropriate Data

After you trade the old car in, you are no longer required to carry any coverage for the vehicle. Explain the situation to a representative of the insurance provider and then provide the updated information.

The insurance company will need the new VIN number as well as details related to the make, model and year of the car. The new policy will be applied to the vehicle when all of the data is provided. Most insurance providers will either fax a new policy or allow you to print a temporary copy of the plan until the official documents are sent in the mail.

It is not hard to transfer the auto insurance policy that you maintain to a new car, but you will need to make sure that you have all of the details and paperwork in order before making the change. To learn more about your options, contact us today.

Compare Cheap Car Insurance Quotes in Albertville, MN

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Every insurance company claims that they have the lowest rates in town, but obviously, that can not be true. The only way that would happen is if there was a law that mandated that all insurance companies had to charge the same rates. In order for you to have confidence that you are really getting the lowest rate when you buy a policy in Albertville, MN, you need to get insurance quotes from a number of different providers.

You can not expect to get really cheap rates on a car insurance policy if you are categorized as a high-risk driver. The best you can hope for is to find a carrier that will not charge you an incredibly high premium because of some blemishes on your driving record. There are companies that cater to high-risk drivers and they are willing to charge less than other insurers in order to attract more business. If you have received points on your license, been involved in a recent at-fault accident, or had other transgressions on your driving record, getting multiple insurance quotes can save you a good deal of money.

Even if you have a spotless driving record and have never filed an insurance claim since you first got behind the wheel, the premium you are charged can be quite different, depending on the car insurance company you choose. Each insurer has their own way of assessing risk and calculating rates. Where one company may charge young drivers a higher rate than older drivers, another company may give discounts to members of the military.

Independent agents have a good idea of which auto insurance carriers offer the cheapest rates because that is their business. While they always get quotes, their experience and knowledge of the current market, is reassuring to clients who want the cheapest rates for the coverage they need.

Does a home security system lower my homeowners insurance premiums?

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If you’re concerned about the high cost of homeowners insurance premiums, there are things you, a homeowner, can do to lower your rates, add value to your home, and increase your sense of safety at home. As your independent agent in Albertville, MN, we will help you understand every factor that might impact your homeowners insurance premium rates, and show you what you can do to cut those rates.

Safety Factors

We look at things that might impact our bottom line. A secure home is less likely to be a target for burglars. Realtor.com encourages all homeowners to look for discounts on homeowners insurance they may be missing. One of the most common missed discounts relates to home security. People who live in gated communities, for example, may be eligible for discounts on their premiums because the gated enclosure gives them added security.

As MSN Real Estate explains, it doesn’t occur to most people that insurance companies look at the crime rate in their neighborhood. You may be living in a well-built, secure home, but if all your neighbors live in less secure homes, and many of the homeowners have filed claims with their insurance companies lately, that could really impact your home insurance rates.

The government’s Insurance Information Institute suggests that you can cut your premiums by five percent by installing dead bolts, smoke detectors and burglar alarms. The institute goes on to add that some companies will cut rates by as much as 15 to 20 percent for homeowners who have automatic sprinkler systems, or home security and monitoring systems that automatically contact the police or fire department if an alarm is triggered. These are not cheap systems, so it is important to weigh the cost of the system against the long-term savings you’d get on your home insurance rate.

Should I get specific coverage for jewelry or art? Or would that be covered under my homeowners insurance policy?

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Many homeowners make a common mistake when deciding on the amount of homeowners insurance they really need. They consider the cost of the house, forgetting that to insure their contents on top of the house itself, they need to increase the amount of their homeowners insurance to include the cost of those contents. When you are talking about the type of coverage your need for your home, ask your independent agent to explain how the dwelling coverage part of your policy works. Most companies put a cap of 75 percent of the total dollar amount of your home insurance policy so you couldn’t receive any more than that amount for your jewelry or art work – regardless of their appraised value.

Kiplinger explains that although these possessions may be included in your standard home insurance, the amount the company is likely to pay you for certain items like jewelry may only be $2,000 or $3,000 at the most, unless you insure each of your valuables separately. What’s more, while you may be protected against theft, you probably won’t have that coverage for breakage.

USA Today urges homeowners not to assume that their homeowners policies will cover them for valuables like art and jewelry, or even an ATV. A more likely scenario is that IF you were even covered, the amount of your reimbursement would be far less than the value of the piece or pieces, and wouldn’t factor in appreciation from the time you bought or received those items.

The best way to protect your valuables, is by asking your insurance agent to show you options for adding endorsements or riders to your existing homeowners insurance policy. By insuring valuables separately and having a floater – or policy that buffers your standard homeowners coverage, you also don’t have to pay a deductible if you had to replace them. You may be able to get broader riders, floaters or endorsements to cover your jewelry in bulk so you don’t have to insure every item individually. The same goes for artwork.

To be sure you have adequate coverage for these valuables, make a point of having yearly reappraisals on valuables you insure with an endorsement to increase your coverage. You don’t want to be under insured for valuables you couldn’t afford to replace, if the insured value is lower than the appraised value. Also insist on insuring art work, jewelry and other valuables for replacement cost, because any other coverage subtracts depreciation– even on valuables that appreciate

How does an insurance company determine the value of my new motorcycle?

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When you make a claim on your motorcycle insurance, your insurer must determine the value of your motorcycle before providing funds. That helps the company determine if it is better to pay for the repairs or if it is more cost effective to declare the motorcycle a total loss.

Cost After Depreciation

A method that may be used to determine the value of the motorcycle is subtracting the depreciation rates from the purchase price of the motorcycle. This type of method is appropriate when the bike is relatively new because the market value for the motorcycle may not provide enough information to determine a fair price.

Depreciation rates can vary between brands and the duration of time since you purchased the motorcycle, so the insurance provider may adjust the calculations over time to reflect changes to the market.

Market Value Guides

Some companies may use a market value guide, such as the Kelley Blue Book, to determine an estimated value of a motorcycle. The downside of using a guide is that it may not consider any extra work that has gone into the motorcycle.

If your company uses a market value guide, then you need to inform the claims adjuster or the company about any adjustments or changes that have gone into the motorcycle. The work can add value to your motorcycle that is overlooked with the average estimates that are provided in a guide book.

There are several different ways that an insurance provider may determine the value of your motorcycle. Depending on your motorcycle insurance policy and the details of your situation, it may or may not be appropriate for your goals and concerns. Contact us to speak to an agent to learn more about the way that insurance providers handle your claims.

I have a sailboat, what kind of coverage should I choose to add to my policy?

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Buying a sailboat can be exciting, but it also raises questions regarding your coverage and the options that are available for your situation. Depending on your concerns, you may need to purchase a separate policy that is designed to specifically address the potential problems that can arise when you take your sailboat out on the water.

Adding to a Current Plan

In some cases, you may add coverage for your sailboat to your auto or home policy, but the amount of coverage that you can expect may be limited. For example, an auto policy may provide protection while you are hauling the boat to the lake, but it will not cover any damages that take place on the water. The same is true of a home policy. It might cover damages while the boat is in the house or protect against theft from your garage, but it will not provide coverage while you are on the water.

Buying a New Plan

Generally, it is best to purchase a sailboat insurance policy when you own a boat so that you can avoid any complications.

A sailboat insurance policy will usually protect against liability concerns when you are on the boat and it may provide comprehensive coverage to protect against theft, damage while the boat is in storage or other concerns associated with owning a boat. The coverage is designed to address the needs of a sailboat, so it is appropriate when you are not sure about the coverage that you need.

There are a variety of problems that can arise when you purchase the wrong type of insurance to protect your boat. Call us today to speak to an agent to learn more about protecting your boat.

What should I consider when purchasing commercial policy?

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Purchasing commercial insurance policy for your business can be a challenging process, especially if you are not sure about the coverage that you need. By taking time to consider specific factors and concerns, it is easier to make the final decision regarding the coverage that you need for your company.

Company Assets

A key factor to consider before you purchase any policy is the assets that your business owns. For example, if you own an office space, then you may need to purchase property insurance. On the other hand, if you are renting a space, then your business may need coverage for rental spaces instead.

Identify all of the assets that the company owns so that you can purchase appropriate coverage for the assets. You may also want to note the rental spaces so that you can obtain the appropriate policy for your situation.

Liability

Every company has liability concerns, but the type of liability coverage that you will need to purchase can vary. Evaluate the situations that may arise and consider if you need to purchase a liability plan to protect your company from losses. Your needs may vary based on the type of services that you provide.

Employee Concerns

You need to consider your employees when you are purchasing any policy. Depending on the number of employees and the work that they provide, you may need a worker’s compensation policy and benefits that you can offer to your employees when they start working.

There are several considerations that you need to evaluate before you make a decision about the policies that are most appropriate for your company. Regardless of the policies that you purchase, the coverage is designed to protect your business. Contact us to speak to an agent to learn more about business insurance options.

Can I add or remove specific coverage in the middle of my commercial insurance policy?

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There are times when unexpected situations arise and you no longer need the same coverage that you purchased earlier. Furthermore, you may want to add to a policy if there are changes in the company that require additional coverage in Albertville, MN. You may want to remove commercial insurance policy details and add new changes to the plan, even in the middle of the insured period.

Identify Your Concerns

The first step of adding or removing different parts of your policy is recognizing what you need and what is unnecessary. Make a list if you are not sure about the changes that you want to make so that you know what you need. You can adjust the plan based on the details that you identify as a necessity in your policy.

Talk to Your Insurer

Contact your insurance provider and talk to a representative to find out what options are available. Every insurance company is different, so the ability to remove commercial insurance policy details can vary.

In some cases, you may be able to make changes if you provide proof of the situation and the reason for the changes. For example, you may want to add coverage if your company has purchased new property or you may want to remove coverage from the plan when you sell property. Providing proof that the changes are appropriate can allow you to make adjustments to your policy. Some insurers may also allow you to make adjustments to the plan without major life changes, but the options can vary.

It can be necessary to make changes to your insurance policy, but the details about when and how you can make changes can vary. Contact us to talk to an agent for more details.

Will my auto insurance premiums increase if I file a claim?

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"Will my auto insurance premiums increase if I file a claim?" This question is on the lips of nearly anyone who has recently had to file a claim. You may have even been scared to file a necessary claim because you were worried about the potential raise in your auto insurance rates. The good news: Not every claim will result in a raise in your car insurance rates. ‘

Whether or not your car insurance rates go up following a claim depends upon several different factors. Rest assured that your insurance company does not just arbitrarily raise rates, and they raise rates only when it is necessary given the situation. These are the things that might impact your insurance rate after a claim.

How Serious the Accident Was: A major accident that costs the insurance company many thousands or tens of thousands of dollars is more likely to result in a raised rate than a minor claim that involved, for example, a few hundred dollars in damage.

Your Driving History: What is your driving record like? Is this your first claim in years, or do you get into trouble with tickets and claims regularly? The fewer the claims you have and the less traffic violations you have, the less likely you are to experience a hike in rates.

Who Has Liability: Who was liable for the accident? If you have no liability in the accident, or only minor liability, it is unlikely your rates will be impacted. Conversely, if you are completely liable for a major accident it could certainly cause a change in rates.

Every policy is unique, and your insurance provider may offer special things like "accident forgiveness," so that rates are not impacted after a claim. Our agents are here to help you get a policy that will work for you, both in times of claims and in times of smooth driving. Check out our free live quote comparison tool online today!