There are certain circumstances that demand a person to own certain types of insurance products. Anyone seeking to buy a home must have home insurance, drivers must have auto insurance and business owners must seek to have a business policy. One type of product that some people like to have that extends all personal lines liability coverage is an umbrella policy. Here are a few thoughts about an umbrella policy that you will need to know.

How Your Umbrella Policy Works

• The number of assets that your umbrella policy can cover is only limited to what your needs are. You will need to list all drivers in your household on the policy in order for them to be protected.
• List your home insurance policy on the umbrella policy to extend your liability coverage. More and more people today are sued because of issues related to their homes. You can be protected more by an umbrella policy in Wayzata, Minnesota.
• If you own a boat or a motorcycle and have insurance for them, you will want to list them under the umbrella policy.
• You will also want to list any other policies under the umbrella policy where you have liability coverage. An umbrella policy is closely tied to lawsuits so you will want to protect yourself with the most coverage you can get.

If you live in Wayzata, Minnesota and have questions about what the limit is regarding your umbrella policy, then you need to call your independent agent today. As your agent we can help answer all of your questions about what you need to cover. It’s important that you give us a call so that we can give you specific details for your circumstances to help you make the best decision relating to your insurance needs.

If you decide to become a landlord and rent out your Albertville, Minnesota home to paying tenants, your regular home insurance policy will most likely not cover you against the risks of owning a home. A typical home insurance policy is usually written to cover an owner-occupied, single family home. Once you change the status or use of your house to a guest house with regular paying guests, you will need to get commercial or landlord insurance.

Commercial real estate insurance is really designed for property owners who rent out warehouses, offices and other commercial properties. Landlord insurance is the right kind of insurance to have in Albertville, whether you have a single family house, a duplex, or a small building with multiple apartments.

The reason why you need to call your independent agent and let them know that you are turning your home into a guest house is that you need to change your coverage to be protected against the increased risk that comes with renting to paying tenants or guests.

Typically, the costs of a landlord insurance policy are about 20 percent higher for the same amount of coverage as if you were the owner and occupant of the premises and used a standard home insurance police to protect yourself from perils and liability.

Insurance industry statistics show that there is a higher incidence of claims associated with operating a pay guest house than simply buying and living in a home that you own. Tenants do not have the same pride of ownership and do not take good care of the house or room that they are renting. There is also the increased liability that you incur when other people live on your property.

As your independent agent, we would suggest that you make sure you have a commercial or landlord insurance policy in place before you ever start taking in paying tenants. It is also a good idea to carefully screen applicants and make sure you obtain a security deposit to further protect yourself from damages to your home and personal property.

When you ride a motorcycle and carry passengers on a pillion, you may assume that your motorcycle insurance in Albertville, Minnesota is protecting every individual involved. Even if you have full coverage for your motorcycle, you and your pillion passenger may not be covered for medical expenses.

Motorcycle Policies

Unlike an auto policy, which provides cover for medical expenses when you have full protection, a motorcycle insurer may not provide medical protection for the rider or passenger. Even if the rider is covered, a pillion may not be covered.

The risk of injuries and accidents is higher when you ride a motorcycle than when you drive a car, which impacts the coverage that you are offered.

Read the Policy

Although many companies will not provide protection for medical expenses, each insurer has a different process of providing protection and the exact amount of protection will vary. Read through your coverage plan to determine if your pillion is currently covered or if you need to add additional protection to your current plan.

If you discover that you need to protect yourself and your passenger from medical complications, then talk to an independent agent about your options. An agent can help you find an appropriate plan based on the amount of riding you enjoy, your budget and any complications that might impact your plan. By comparing your options with the help of an agent, you will not need to worry about your medical costs or that of your passenger if you are involved in an accident.

Riding a motorcycle requires protection from injuries that may occur. The problem is that many insurers do not provide full coverage for the rider or passenger. To learn more about your options or get help understanding your current plan, contact us to talk to an independent agent.

What should you do if you back into a pole in a Wayzata, Minnesota shopping center and put a big dent in your bumper? You know your husband is going to see it, so you just can not pretend it never happened. The real question is whether or not you should file a claim with your auto insurance company.

The collision portion of your auto insurance policy will cover the damage that is above your deductible. If the damage was, say, $750, and your deductible is $500, the best you could hope for is a check for $250. You might be hesitant to file a claim in such an instance because it could raise your rates the next time you have to renew your Minnesota auto insurance policy.

As your independent agent, we run into this type of dilemma all of the time. While the decision as to whether you should or should not file a claim is up to you, we can give you some solid information about what the effect of filing a claim will be on your auto insurance rates.

An independent agent works for you and not for any individual insurance company. We can provide you with unbiased advice that you can not get by talking directly to an insurance company. If it is in your best interest to not file a claim, we will tell you why.

If you develop a long-term relationship with an independent agent you like and trust, you will have someone who can look out for all of your insurance needs. Here in Wayzata, we like to get to know our clients so we can serve them better. Over time, your various insurance needs can change. We can counsel you on how best to cover those changing needs and provide you with the right policy or policies so you are properly insured throughout your life.

Living in the Albertville, and Wayzata, Minnesota areas there are plenty of chances for you to take your boat out on the water. While boating there are a lot of things that can cause damage to your boat. There is the possibility of colliding with another boater or even being in a damage causing storm. If you are looking for some type of boat insurance, then there are few basics related to coverage options that you will need to think through before buying the policy.

Basic Boat Insurance Options for Your Watercraft

• Liability insurance is one part of the policy that comes standard no matter what you end up getting. This coverage pays for damages that you may cause because of accidental causes. If someone trips and falls and ends up suing you, your insurance liability will cover the cost.
• Comprehensive will still cover for damages to your craft that are not accident related. Some things that might be covered include Hail, theft, fire and several other perils.
• Taking a certified boat safety class will get you a great discount not available to most boaters.
• Equipment coverage is another benefit that you will not want to pass up. Some boaters like to buy a lot of expensive equipment for their boats. They may buy sonar, radios, and many other safety devices. If something turns up missing, you may not have coverage unless you covered your equipment on the boat.

If you are looking to get a boat policy or just have questions about a policy that you already have, then you need to contact an independent agent today. We can help guide you through the basics of a great boat policy. Call us today and get your boat protected the way it should be.

If you are a new business owner with a start-up company, you should never open your doors in Albertville, Minnesota, without speaking to your independent agent about buying at least the minimum of insurance coverage. Minimum coverage is generally considered commercial general liability insurance. Business owners can purchase a company insurance package that offers adequate protection at a lower price.

Sometimes this minimum coverage is the only policy protection a company will need. If you have more than one company location, have hired employees and your company have higher profits you will no doubt need a different type of coverage protection.

This minimum liability coverage will protect you against property damage, personal injury, bodily injury and advertising injury. These four separate issues are purchased in one package instead of buying each coverage separately. These four coverages are bundled into a package are usually enough for any small business.

If your endeavor is a higher risk company that could leave you at risk for a high liability law suit, such as a small restaurant, in Albertville, Minnesota, you may want to purchase a supplement policy, such as an umbrella policy that will pay beyond the limits of your basic policy. Your independent agent can help you decide if an umbrella policy will be what you need, and sort through the particulars of purchasing the right coverage at the right price.

The umbrella policy will open up benefits that pay for legal fees and judgments that your basic policy does not cover. If you operate a business that presents more risk than normal, you should discuss your options with your independent agent in Albertville, Minnesota, in order to secure your financial future. We can help you with your policy needs. It is important that you give us a call so that we can give you specific details for your circumstances.

A smaller or larger commercial company can be perilous for any business owner. Lawsuits have been on the rise and primarily over the last few years since our economy has been failing. Some companies are at jeopardy more than other companies such as restaurants, grocery stores and medical companies, including doctor and dental offices. Tax preparation offices are another company showing increasing lawsuits. Without the proper business insurance, it could mean economic ruin for business and personal life.

No matter what kind of commercial company you own, you should have at least basic and comprehensive general liability coverage. This general liability policy shields you the owner from lawsuits arising from accidents, injuries and claims stemming from negligence. This basic coverage will protect you from property damages, slander, libel, bodily injury, medical expenses, legal fees and settlement bonds.

The necessary policy you need for your business will depend on your company. If you have a company that offers a service to the public, like a doctor’s office a professional liability policy is always a wise decision. This professional liability will cover beyond what the basic liability policy covers. These companies need a policy that covers errors, malpractice, and negligence lawsuits. If you own a company that supplies products to the public you will want a product liability insurance in case you face a lawsuit for product malfunction, or the product cause injury or harm to an individual.

If your Wayzata, Minnesota company has just one employee, you should be covered with worker’s compensation. Some states will require you to have worker’s compensation. Another type of policy you may have to consider is commercial property insurance.

You should not risk opening for business without the customary insurance coverage. As your independent agent, we can help you. If you reside in the Wayzata, Minnesota area, contact us and speak with an independent agent. All circumstances are different. Give us that call today so that we can give you specific details for your circumstances.

Every year in the United States there are court cases that involve personal lawsuits against people for various reasons. In some cases the lawsuit will involve some kind of insurance payout or involvement. If you are concerned about the possibility of being sued as a result of an accident or liability claim, then you may want to consider a personal umbrella insurance policy.

The Importance of Having an Umbrella Policy

• An umbrella policy, also known as a PELP policy, extends the coverage of insurance policies already owned by the individual.
• Your current policies will only pay up to the limits that are set and once they are maxed out the umbrella policy will pay out the rest of the claim.
• Without an umbrella policy you will have to pay the difference of the judgment and what the insurance company will cover. In some cases the amount you are stuck with can cause a lot of financial hardship.
• An umbrella policy does not cost a lot of money to buy. For as little as a few dollars per day you can have the added protection of a PELP policy.
• A PELP policy will not only protect you but it will also cover any drivers and people living in your home. It also extends to your home policy, car policies and any other insurance products that you may own.

If you live in the Albertville, Minnesota area and are considering buying an umbrella policy, then there are some things that you may be asking questions about. As your independent agent we can help put your mind at ease about the importance of an umbrella policy. Give us a call today and let us help you get a policy that is right for you.

Frankly speaking, the best term life insurance policy is the one that you actually have in place to provide financial security for your loved ones in the event that you pass away unexpectedly. While Minnesota residents lead the nation in life expectancy, according to a recent statement by Governor Mark Dayton, accidents and illnesses do take away the lives of too many people before they reach their golden years. When a family’s primary breadwinner unexpectedly passes away without life insurance, many financial troubles ensue causing unnecessary stress in addition to the grief. This is why it’s essential for those who aren’t financially secure to have a policy in place.

Term life insurance provides coverage for a set number of years so that if you pass away, your family can go through the grieving process without worrying about finances. The money from a policy allows your partner to provide a proper funeral and burial and take off time from work while the kids continue their activities and the bills stay current.

Most term life insurance policies come in 10, 15 or 20 year increments so that you can get coverage for the appropriate length of time. If you’ve just started a family, having a 20 year policy is best so that it will cover you until the kids are adults. On the other hand, if you’re nearing the empty nest stage of life, a 10 year policy may be more suitable since your expenses should decrease as the kids venture out into the world.

One of the best things about term life is that it’s very affordable. You can compare quotes from various insurance companies to find the best rates. As your independent agent in Wayzata , we’re here to help you decipher any jargon you find in the policies and give you advice on selecting the term length that’s best for you. Give us a call today!

Minnesota motorcyclists often find that it is necessary to obtain bodily injury insurance. Albertville motorcyclists will find that it provides peace of mind in case an accident occurs and it is necessary to seek medical attention. The challenge is determining the right type of coverage to meet personal needs and provide a feeling of security while enjoying a motorcycle.

Insurance Legalities

In the state of Minnesota, every motorcyclist is required to obtain basic liability coverage. The liability coverage will only provide payments for property damage or injuries to other motorists and passengers if a motorcyclist caused the accident.

Although the state requires a minimum of $10,000 for property damage and $30,000 for one individual who is injured or $60,000 for two injured individuals, it does not have any bodily injury requirements for the motorcyclist. Liability coverage is only the minimum state requirement so it is necessary to purchase further coverage for personal injuries if an accident occurs.

Additional Protection

Bodily injury coverage is an additional solution to protect the motorcyclist. It is additional insurance and generally it is best to obtain at least $30,000 or more in case an accident results in medical expenses. The cost of medical needs will vary based on the exact nature of the injuries, but ultimately it is better to seek the same amount as the state liability requirements or more for personal peace of mind.

The state of Minnesota has minimum insurance laws, but it does not impact the decision to protect personal finances in case an injury occurs. When it is hard to determine the right policy for personal needs, an independent agent can help. To gain assistance in your search for a new policy or speak to an independent agent, contact us today.