Author Archives: AgentInsure

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!

If a pipe accidentally bursts inside the wall in my house, what factors affect if I can make a claim on my home insurance policy?

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Plumbing problems can be a nightmare for a homeowner, and a burst pipe inside a wall is a particularly troublesome and damaging problem. The first question you’re likely to have is "Will my home insurance policy cover this?" The answers in the insurance industry are rarely simple, and this one is no exception.

The key to answering the question of whether or not insurance pays for a burst pipe is to understand the nature of insurance. Home insurance is designed to protect your home from catastrophic events, such as fires, tornados or even burglaries. What home insurance is not designed to do is to pay for regular wear and tear or negligence.

So basically, pipe bursts in your home may be paid for, but only if there’s some defining event that causes it. The good news is that in Albertville, MN, you can bet that when your pipe bursts there is some kind of winter storm or severe weather event behind it. Still, your claim will go much more smoothly if you have plumbing records to prove that your pipes are well-maintained and you have some pictures or other documents to show the effects of the storm on your property. If your pipe damage is covered, your insurance will likely pay for the plumbing repair as well as any water damage caused by the leaking pipe.

Understanding what’s covered by your home insurance policy is tricky, and every policy is different, so you would be wise to talk to an agent. As your independent agent in Minnesota, we are here to answer all of your insurance questions, so call us today!

What coverage limits can I expect in a standard homeowners policy?

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When you purchase a standard homeowners policy for your property, you may discover that there are certain coverage limits that may apply to your plan. Although there is some variation between insurance providers and the details of the policy that you purchased can depend on several factors, there are some limits to the coverage that you purchase.

Limits on Expensive Belongings

In many cases, insurance providers will offer a certain amount of coverage for your personal belongings. Most policies will protect against theft, fires and other unexpected disasters that can damage your property.

Although there is usually coverage for your personal belongings, companies may put limits on your coverage for items that are traditionally expensive, such as jewelry or family heirlooms. The limits are designed to protect the company because the items can be very expensive. You may need to purchase additional coverage for certain items.

Limited Coverage for Other Structures

A standard homeowners policy will usually offer some coverage for other structures that are on the property, such as a shed or a detached garage, but the amount of coverage can be limited. You may have a percentage of the policy that will apply to the structures and your yard when the structure is damaged, but it may or may not be enough to pay for all of the repairs. The coverage limits can vary based on the value of your house, so the exact limits will differ between plans.

Insurance for your home will often have set limitations on what is covered and what is not covered. Even when items are covered, the amount of coverage that is available in the policy may not always be appropriate for the item. Contact us to speak to an agent for more details.

How long does a speeding ticket affect my auto insurance policy rates?

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A speeding ticket will affect auto insurance premiums in Albertville, MN, even if you have never been involved in an accident. The reason is related to the risk. If you are speeding, then you have a higher risk of getting into an accident. The impact of the ticket will last for some time, but the exact duration will vary based on the company.

Short-Term Surcharges

Some insurance providers handle a ticket by adding a surcharge to your current policy. The impact is an increased rate on your policy that will reduce after a set amount of time as long as you do not get into an accident or obtain a new ticket for speeding within the set period of time.

The short-term surcharges are usually added to your policy for one year. After that period, your rates will usually reduce.

Long-Term Changes

Even though companies may offer short-term options, some insurers will extend the period of time. Insurance providers have different methods of handling the situation based on the problems that you can expect to face.

It is not unusual for a company to charge a higher rate for coverage for three years or more due to the increased risk associated with a speeding ticket. If the company does not offer a short-term option, then you can expect to pay a slightly higher rate for a few years. Most companies will reduce your rate after three years if you have not gotten a new ticket or been in an accident.

A ticket will affect auto insurance rates by increasing the amount that you pay for your premium, but the duration of the change can vary. Call us today to speak to an agent for more details about your auto policy.

Auto Insurance Coverage When Out of the U.S.

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Among the questions we are asked as independent insurance agents in Albertville, MN is what policy holders should do with their auto insurance while they are out of the country for an extended period of time.

In most cases, no matter how long you plan to be out of the country, it is a good idea to retain auto insurance. Even though you will not be driving your car while you’re away, life can still happen. Imagine if your car is stolen from a parking lot or garage, a tree falls on it, or the structure in which it is parked burns to the ground. You have zero coverage on that automobile if you have canceled insurance prior to leaving.

The thing about accidents is that we never seem to believe they are going to happen to us. Maybe that is a human’s way of remaining optimistic. It is the odd circumstance though, like kids breaking into your car while you are gone, that come as the biggest surprise. And let’s face it; surprises are why insurance exists in the first place.

When you are planning to be out of the US, give us a call. We can tell you more about your options, like insurance that fully covers a car that is going to be parked for months at a time. Insurers know that some cars will simply be in a garage and have developed policies to cover anything that can happen to them under those circumstance.

It is important not to ignore the issue, believing that it is something you can deal with upon your return to the country. A lapse in insurance coverage can result in the suspension of your vehicle registration, making it that much more difficult to get back on the road.

As a single parent, how can I lower my auto insurance cost?

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As a single parent, it is likely that you have several concerns about your finances and managing all of the expenses. You want to ensure the safety of your family while you are on the road, but you may also struggle to pay for full coverag. Fortunately, it is possible to lower auto insurance cost with the right tools and steps.

Increase the Deductible Amount

When you want to save money on your policy, you can ask about the deductible on your plan. Some insurers may reduce your monthly payment if you increase your deductible. Depending on your insurer, the impact on your premium and the changes to your policy may vary, so you will want to ask questions and make sure that the changes are appropriate for your needs and goals.

Drive Carefully

Follow the speed limit and take a defensive driving course to learn different ways to prevent accidents. A good driving record is a key part of obtaining a low rate on your coverage.

If you take a defensive driving course, then you may also ask about discounts. Some insurance providers will offer reduced rates for the course because your risk of an accident is reduced.

Select a Safe Car

A single parent can take advantage of safety features on vehicles for several reasons. You can feel confident that your children are as safe as possible in the vehicle and you may be qualified for discounted rates if you select a car that has several safety features because the risk of severe injuries and damages is limited.

There are a variety of ways that you can lower auto insurance cost and maintain a strict budget, even if you are a single parent. The key is taking advantage of the discounts that insurance providers offer. Contact us to speak to an agent to learn more about lowering your rates.

Will my age affect either my ability to purchase term life insurance or the resulting premium costs?

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When you have a family and your loved ones depend on you for support, you probably should purchase life insurance. In case something happens to you, your family will have enough money so they can maintain the same lifestyle as when you were alive. Term life insurance may be the most affordable type of insurance.

Term life can pay the mortgage on your home in Wayzata, Minnesota so your family will not have to sell the house and move. It can help make sure that your young children will have the money necessary to go to college.

It is always easier and less expensive to purchase term insurance when you are young and in good health. Like all life insurance, the premium you pay for term is based on your life expectancy. As the name implies, a term life policy covers you for a set length of time. If you should die within that time period, your beneficiaries will receive the face value of the policy.

If you are 20 and in good health, the chances of you passing away in the next twenty years are very small. On the other hand, if you are 60 and have emphysema, your life expectancy may be far less than twenty years. Your age will affect the premium you pay as well as your ability to get coverage. In addition, if you are able to get a term policy, both the term and the amount of coverage you can buy may be limited.

At Pizano Insurance, our goal is to help our clients get the coverage they need at a price they can afford. Call us and an independent agent will be happy to sit down and talk with you about term life and the other options you may want to consider for your life insurance needs.