Author Archives: AgentInsure

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.

Can I find life insurance after being diagnosed with a terminal illness in Albertville, Minnesota?

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A medical diagnosis is always a concern, especially if your doctor determines that you have a terminal illness and you have a limited amount of time left. Even though you may have a terminal illness, some insurers may be willing to offer a life insurance policy in Albertville, Minnesota.

Determine the Amount Required

Before you start looking for a policy, identify the amount of coverage that you want. Keep in mind that you may not be able to obtain a large amount on your policy because the risk of death is very high. That means you may want to focus on obtaining only enough coverage to pay off any lingering debts and your funeral expenses.

Insurers may offer a variety of policies and plans, so the best option for your goals and concerns may vary. If you want a large policy, then you may need to pay a high up-front premium.

Compare Your Options

In general, a term-life policy may not be an appropriate option after you are diagnosed with a terminal illness. You may be refused coverage or you may discover that the premium is too high due to the risk of death.

A guaranteed-life policy may be an appropriate solution because the insurer promises to provide some coverage. The amount of coverage that may be offered by the company can vary, but it may be possible to qualify for coverage through a guaranteed policy. Compare your options to get the best rates based on your situation.

Being diagnosed with an illness is stressful and worrisome, but that does not mean you have no options available. Contact Pizano Insurance to speak to an independent agent for more information about the policy options that may be appropriate for your concerns.

Will my business insurance protect my business in a natural disaster in Wayzata, Minnesota?

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A natural disaster is a problem that impacts the lives of every individual within a particular area. As a business owner, you want a commercial insurance policy that will protect your company assets when a natural disaster strikes in Wayzata, Minnesota.

Type of Disaster

Depending on the situation, insurers may or may not offer protection against the disaster. In general, a basic policy will not provide protection against natural disasters unless you purchase additional protection.

A basic commercial policy protects against common threats, such as fires and vandalism. It may not protect against flooding, tornados, earthquakes or similar disasters. That is why it may be necessary to purchase additional protection for your business when you are worried about disasters that may take place in the local area. Keep in mind that the coverage may or may not be available through your current insurer.

Plan Details

The only way to determine if you are already covered and how much coverage is available is by reading your current policy. Depending on the current plan and the details of your contract, the situations that are covered may vary.

Pay particular attention to the clauses and exceptions that may apply to your account. In some cases you may be covered for the damages. In other situations, you may not be covered due to an exception or a clause that prevents you from making a claim.

Natural disasters are not usually covered in a basic commercial insurance plan because the risk is impossible to predict. Even though certain disasters may not be covered, some insurers do offer additional protection and optional policies that can help. Contact Pizano Insurance to talk to an independent agent for more information about policies that may protect against natural disasters.

How can I reduce my business insurance premiums in Albertville, Minnesota?

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When you obtain a commercial insurance policy for your company, the cost of your premium may make you uncomfortable. Even though premiums are based on the coverage that you purchase, it may be possible to reduce the rate in Albertville, Minnesota.

Identify Promotions and Discounts

Insurance companies often offer discounted rates and promotions that can help reduce the amount that you pay. The exact promotions and reductions that are available may vary between insurance providers, so it is important to consider the company before you try to apply a discount to your account.

If you are not sure about the promotions that may apply to your business, then contact a representative of your current insurance company and ask about discounts and promotions that are currently available. Keep in mind that promotions and discounts can change over time, so the specific reductions can vary.

Take Steps to Reduce Risks

Many insurers offer reductions on your premium if you take measures to reduce the risks associated with your company. Depending on the type of business that you have created, the safety measures that are appropriate may vary. For example, you may put in a security system to get a reduction in some businesses, but it may not be the best way to reduce your rate if your company does not sell any products.

By taking steps to reduce your risk, your business will not have as many concerns associated with the coverage. It may be possible to lower your rate or you may be offered a lower rate in the future.

Finding the right policy for your business can seem complicated, especially if you have a limited budget. Contact Pizano Insurance to talk to an independent agent for more information about reductions on commercial insurance.

Are there additional coverages I can add to my homeowners policy in order to increase my property protection?

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A lot of people make the mistake of thinking that their homeowners insurance policy is all-inclusive. If your policy is the standard "named perils" policy, maybe you realize that your only covered for the named events that could damage your home, but even an "all hazards" policy has exclusions. Luckily, you have the option to purchase a number of additional coverages to help provide yourself with more property protection.

Perhaps the most common extra coverage for people to purchase is flood insurance. Floods are almost never covered by standard insurance and if you live in a flood plain, your loan company will most likely require you to purchase flood insurance. You can also purchase extra protection for things like earthquakes and hurricanes, but they’re probably not at the top of your worry list in Minnesota.

Sometimes your possessions dictate extra coverage. If you have a lot of expensive jewelry or collectibles, the value may exceed the limits on your homeowners insurance coverage. In that situation, you can purchase extra coverage that will cover the full value of your property. Similarly, if you have other expensive features that might not be covered by homeowners insurance, such as rare and expensive plants or separate structures on your property, you might want to add specific coverage for them.

If you live in Washington and you think you might need additional coverage on your homeowners insurance for property protection, you need to contact Pizano Insurance. We are your independent agent in Wayzata, Washington and our website allows you to easily compare quotes on home insurance, so you can always be sure that you’re getting the best deal.