Author Archives: AgentInsure

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.

In Albertville, Minnesota, should I insure my building’s structure for the market value or rebuilding cost?

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Selecting the appropriate home insurance policy in Albertville, Minnesota can seem complicated. You may worry about the best type of policy and how much coverage is necessary for your home. Ultimately, the decision to obtain a policy for the market value or the rebuilding cost of the building structure depends on your personal preferences.

Rebuilding Cost

In general, the rebuilding cost of the structure is slightly less than the market value because the value of the property is usually calculated with the surrounding yard, land and any other structures on the property.

Obtaining a policy for the rebuilding cost may or may not be a smart decision. The reason is that it may be more limited when you have a total loss. You may not have enough coverage to pay for rebuilding the structure as well as your personal belongings or damages to other parts of your property.

Market Value

Even though the market value of a property is subject to change over time, it calculates your coverage based on the cost of replacing all of your property, including repairs to the land or other structures on the property.

The market value is usually slightly higher than the cost of rebuilding, but it may also result in a slightly higher premium. Depending on your current budget and plans, it may be appropriate to consider the policy after you no longer have potential complications.

Deciding to use the market value or the rebuilding cost to determine the appropriate homeowner’s policy is ultimately a personal choice. Contact Pizano Insurance to talk to an independent agent for more information about the differences between the policies and the complications that may arise when you select a particular type of policy.

Do I need to tell my insurer if I have major building work done, such as an extension in Wayzata, Minnesota?

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If you are having major building improvements done for your home in Wayzata, Minnesota, you should let your insurance agent know. The best scenario involves speaking with your agent before you even begin to have work done. This allows the agent the time that may be required to research the potential increase in your property value.

Major Building Improvements and Your Home Insurance

Having additions or extensions added to your home will increase the value of your property. Your home may be insured for a replacement cost of $120,000. A major improvement can easily add another $20,000 or more to your home’s value. You need to increase your insurance to protect the investment you have made.

While the contractor you are using should have a license and insurance, you should talk to your independent agent to see if any additional coverage might be advisable. Contractors should carry insurance that protects you from liability from worker’s injuries and liens against the company. Their insurance should also cover any damages to your home will the work is being performed. For major renovations, a little extra insurance could be beneficial.

If you are completing the work yourself, additional coverage is recommended. You may have a large amount of money invested in the supplies and materials. You need to protect your investment before it becomes part of your home.

You should also consider that making minor improvements to your home will add up over time. If you are having $1,000 or so of work done each year, take the time to add up the total of these improvements over five years. You want to keep your insurance policy up-to-date with your home’s value.

When you work with Pizano Insurance for your home insurance needs in Wayzata, you only need to contact your independent agent. This saves you the time you would otherwise spend trying to reach your insurance company directly. You can contact us any time you need to get answers to your home insurance questions.

What is the difference between replacement cost and actual cash value of my property in Albertville, Minnesota?

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When you buy insurance for your home in Albertville, Minnesota, you should make sure you understand what kind of coverage you have. If you have the wrong type of coverage and suffer damage or loss to your personal property, you may be in for a surprise when you file a claim with your home insurance policy.

Your homeowners policy will either provide you with replacement cost coverage or actual cash value (ACV) coverage. Replacement cost coverage is better coverage because it will pay for you to replace your lost/damaged property or item with an equivalent item made of similar materials and of similar quality. As an example, if you have a couch that you paid $1,000 for five years ago and it is destroyed in a fire, the insurance company will issue you a check for enough money o buy a new couch of similar quality. That is not the case if you have actual cash value coverage.

Actual cash value is defined as the replacement cost minus depreciation. With a few exceptions, most assets depreciate over time. Their condition can deteriorate or go out of style. Depreciation hits computers and electronics hard as new technology causes older items to rapidly lose value. If you have actual cash value coverage and file a claim, you will only receive the current market value, based on the age and condition of the item or items you lost.

Although you might pay a little higher premium for replacement cost coverage as opposed to actual cash value coverage, if you suffer a loss, you will be glad you had replacement cost coverage.

At Pizano Insurance you can talk to an independent agent and find out everything you need to know about insurance for your home. We can compare policies from multiple insurance companies and find you the best quote for the coverage you want and need for your home.

What is car rental reimbursement insurance, and why should I buy it in Wayzata, Minnesota?

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Although a recent study found that Americans own an average of 2.28 vehicles per household, there are plenty of families throughout Wayzata, Minnesota who choose to own just one car for various reasons. Nationwide, approximately 33.8 percent of households in the U.S. own just one vehicle. Whether it’s to save money on car-related expenses or dramatically reducing their environmental footprint, many one-car families are making do with sharing a single vehicle among the entire household.

So how does car rental reimbursement come into play? If you’ve recently been in an auto accident in Wayzata and you only own one vehicle, chances are you’ll need a way to get to work and back while your vehicle is undergoing repairs or, in the case of a total loss, while your insurance provider arranges for a replacement. Car rental reimbursement coverage is an optional auto insurance benefit that can help cover the cost of a rental vehicle under the circumstances.

Car rental reimbursement coverage usually works one of two ways:

  • You rent a vehicle from the rental car company of your choice and pay the upfront costs. These costs are later reimbursed after submitting receipts and a claim form to your insurance provider.
  • You rent a vehicle from a rental car company approved by your insurance provider. Instead of paying upfront costs, the rental company bills your insurance provider directly.

Most forms of car rental reimbursement coverage feature a “per-day” or “per-accident” limit that varies depending on the insurance company’s own policies. Also keep in mind that this coverage does not cover car rentals that are needed while your vehicle is in the shop undergoing ordinary maintenance or repairs.

You can always turn to your Pizano Insurance for more information on rental reimbursements and other optional insurance coverage for your vehicle. As your independent agent, we can help you build the best auto insurance plan that covers all of the bases.

Does my car insurance cover someone who borrows my car in Albertville, Minnesota ?

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Allowing a friend, relative or even the babysitter to borrow your car in Albertville, Minnesota does not necessarily mean that you are taking unnecessary risks. In many cases, insurers will still cover your vehicle while a loved one or a friend is driving the car. Even though you may still be covered, certain situations may impact your auto coverage and might limit the funds that you are provided.

Lending to Individuals in the Same House

If you live with the individual who is borrowing your vehicle, then you may not be covered for the damages unless the person is mentioned under your policy. The reason is that the individual may drive the vehicle more often and has a higher risk of getting into an accident as a result.

When a loved one lives in the same house, it may be wise to put them under your current account to avoid complications if an accident occurs.

Lending to Others

Offering your car to a friend, relative or acquaintance who does not live in the same house means that you are still covered under most policies. Keep in mind that every insurer is different, so it is important to evaluate your particular policy before you allow a loved one to drive your car.

Read your policy to find out what situations may be classified as an exception to the basic rules. If there are times when you are not covered, then identify those situations to avoid problems if you must make a claim.

In most cases, you are covered if you lend your car to another individual. Contact Pizano Insurance to talk to an independent agent about your coverage options and the situations that may not be covered by a basic policy.

What is the difference between limited and full tort coverage in Wayzata, Minnesota?

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Court cases related to auto accidents can cause a variety of complications for drivers and the court system, which is why insurers offer limited tort and full tort coverage in Wayzata, Minnesota. By understanding the differences between the policies, it is easier to determine the best option for your goals and needs.

Full Tort

A full tort policy means that you have the right to sue a negligent driver when he or she crashes into your vehicle. Regardless of the coverage that you select, the driver of another vehicle who crashes into your car and causes injuries is responsible for your medical bills and the repairs to your vehicle.

In the case of major injuries, you may decide that you want to sue the driver for your pain and suffering rather than just the medical bills. If you have a full tort insurance policy, then you have the right to sue in this situation.

Limited Tort

A limited tort policy means that you are not allowed to sue for pain and suffering in an auto accident. Your coverage allows you to submit your medical bills and the cost of your repairs to the other driver’s insurance company for compensation.

The insurer will usually pay the full amount of your bills up to a certain amount, which will vary based on the other driver’s liability plan. When you opt for a limited tort policy, you cannot sue for your pain and suffering, regardless of the extent of your injuries.

Limited and full tort auto policies are not the same. If you opt for a limited tort plan, then you are giving up the right to take the other driver to court for additional compensation after an accident. Contact Pizano Insurance to talk to an independent agent for more details.