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.

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.

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.

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.

It is very important for individuals to maintain home insurance on their property at all times. Should something happen to put the home at risk, such as a fire, flood, or burglary, it is critical that the right type of insurance be in place to protect the value of that home. Additionally, most mortgage lenders require borrowers to maintain a specific level of coverage at all times to protect the investment. So, what happens when your home insurance does lapse?

In Albertville, Minnesota, it is critically important to discuss your situation with your insurance agent as soon as possible. Getting a new policy in place right away is critical. Some insurance providers may penalize you with higher rates because of the lapse, but many will not. Ultimately, you do not want to delay in getting the coverage you need. The best way to do this is to consider both options of renewing your policy with your current provider or seeking out a new one.

You do not want to face risks with your lender for having a gap in coverage. It is best, then, that if you plan to switch providers that you begin looking at least a month in advance of the expiration of your current policy. This can help to reduce your risks of losing coverage even for one day.

If you are in the market for a new policy, it is often best to use an independent agent to help you to find the right policy for your needs. Even when you may not have the best track record of coverage, chances are good there is a provider that can meet your needs. Trust in an independent agent who can help you to find the right policy for your particular needs.

Buying a home in Albertville or Wayzata, Minnesota may require a certain amount of home insurance to protect your property. Although personal belongings are usually covered in part by a home insurance policy, there are situations when you will want to keep your insurer informed about new purchases that come into your home.

Expensive Purchases

If a purchase is very expensive, then you may want to inform your insurer about the item as soon as you bring it into your home. Give your insurer the details about the replacement cost so that it is noted on your account.

Expensive purchases that may be appropriate to inform your insurer about include electronics, jewelry and furniture. After informing your insurer about the purchase, keep a copy of the receipt and a picture of the item in a safe location so that you can prove that you owned the item if something happens in the future.

Other Purchases

Although it is appropriate to inform your insurer about expensive purchases, it is not necessary to give the details of every item that you bring into the house. Articles of clothing, a pair of shoes or an inexpensive piece of furniture may not require you to inform your insurer about the purchase.

In most cases, the amount of coverage that you have for personal belongings may provide enough funds to handle low-cost purchases that are not specifically identified.

While it is not necessary to inform your insurer about every purchase that you make, it is usually a good idea to mention high-cost items to ensure that the replacement cost of those specific items is covered. Call us to talk to an independent agent today for more information about coverage for personal belongings.

You may be able to get a credit of ten or even twenty percent on your home insurance in Wayzata, Minnesota. Installing a GSM home alarm system will lower the risk of loss from perils such as fire and smoke as well as provide security against home intrusion and burglary.

Any measures that you take to make your home safer and more secure will help your family feel more protected and secure. Smoke detectors and dead bolt locks are a good start, but installing a GSM home alarm system provides an additional level of protection.

GSM stands for Global System for Mobile Communication and is basically an advancement in technology from the days when alarm systems worked through telephone lines. Such systems are wireless and use the same technology as your cell phone to communicate. A 24/7 remote monitoring center can alert you to any dangerous condition such as an attempted break-in or the presence of smoke in your home. You can also monitor your home from yourself from, your smartphone or a computer.

All home insurance companies are different, but as a general rule, they all offer some type of discount to homeowners who choose to install a monitored alarm system in their home. Some may also offer a discount for smoke alarms and other devices that are not connected to an independent monitoring system.

While it is still possible to suffer a loss from fire or other problem detected by an alarm system, it is also more likely that the damage or loss will be minimized with early notification. If the police are notified immediately, they may be able to catch the intruder before he has a chance to escape with your valuables. Every minute counts when a fire breaks out and a quick response by the Wayzata Fire Department can minimize the loss.

If you have been considering the purchase of a GSM home alarm system, please give us a call. An independent agent can give you a good estimate of how much you could save in home premium payments by making your home more safe and secure.

When a tree in your yard is causing problems with your neighbor, it may seem like the perfect opportunity to use your home insurance to remove the problem. Although some insurers in Albertville, Minnesota may provide some assistance in certain situations, it is possible that your coverage may not include the removal of trees.

Risky Situations

Although the removal of a tree from your yard may not be covered in every situation, it is possible that your home insurance provider will allow you to make a claim if the tree is in a precarious or dangerous position.

Risky situations, such as when the plant is dying and branches are falling onto your roof or your neighbor’s roof, may allow you to make a claim as a preventative measure against more costly repairs and damages in the future.

Variation on Policies

While some insurers may allow you to make a claim in certain situations, each policy is different and the details of your current homeowner’s plan may vary. Even if the situation is risky, some insurers may not allow you to make a claim to pay for the removal of a tree.

Read your policy thoroughly to determine if you have coverage for the removal of trees or if there are certain situations that will allow you to make a claim. You may have a clause or exception that prevents you from making a claim in some situations.

The ability to remove trees from your yard that are causing problems with your neighbors may depend on the current situation. If you want to learn more about coverage options and details, contact us to talk to an independent agent.

If you own your home and have a business, then you may have heard that you will need to have two separate policies in order to have everything covered properly. Home insurance is designed to cover risk exposures that are related to a person’s personal home. A business will need its own policy in order to be protected correctly. Here are a few reasons why you will need two different policies.

Why You Need Two Policies for Your Home and Business

• A business has a lot more risk exposures that need to be covered by a business policy. Most personal line agents may not write any policies for insurance companies where the applicants home is the place of business.
• A business policy carries a higher liability limit than a normal home policy. In most cases the lower limit starts at one million in coverage and can be increased to cover the increased customer exposure.
• A normal home policy only covers personal belongings so if you have a business in your home, then none of the companies merchandise would ever be covered should there be a total loss.
• Your home policy will have limited coverage for high dollar items. A business policy is more comprehensive in what it covers.

If you live in the Wayzata, Minnesota area and have questions about your home policy or a business policy, then you need to contact your independent agent today. As your agent we can help answer all of your questions that you may have about your insurance options. It’s important that you give us a call so that we can give you specific details for your circumstances and help you get the policy that you need for your business and home.

Identity theft can happen to anyone, even people living along Lake Minnetonka in the small city of Wayzata, Minnesota. Well Wayzata is a nice quiet place to live and everyone is friendly, but, there are evil-doers out there, lurking on the Internet and trying to find ways to steal your identity.

If you use a computer to bank online, make purchases at Amazon, or stay in touch with your friends on Facebook, you are at risk of becoming a victim of identity theft. No insurance can protect you 100 percent of the time from having your private information compromised.

The best thing you can do is take as many steps as you can to make it harder for an identity thief to steal your identity. Chang passwords frequently. Don’t open emails from unknown senders. Check your bank and credit card statements to make sure there are no withdrawals or purchases that you don’t recognize. Even with all that, you still are at risk.

Your standard home insurance policy will not cover identity theft, but many home insurers will offer you some protection against the hideous invasion of your privacy by giving you the option to add an endorsement for identity theft to your policy.

An endorsement under your home insurance policy will not reimburse you for the monetary losses you may suffer if someone hacks into your bank account, but what it will do, is pay for the expenses that you incur to restore your identity and credit.

For instance, when you find out that your identity has been stolen, you might want to do things like cancel all of your accounts and open new accounts. It can take a lot of time and be expensive if you have to get a new passport, birth certificate, or driver’s license. You may have to send certified letters to all of your creditors, need notary services and even miss time at work. When you add an endorsement for identity theft, it will cover some, if not all of those expenses.

As your independent agent, please give us a call and we can see if adding this type of coverage to your home insurance policy makes sense for you.