An Overview of Home Insurance

When it comes to home insurance, it will behoove you not only to get it but to also ensure you are properly covered. One of the first things you should do to ensure proper coverage is to get educated about home insurance especially for the state you live in. And even though most states have similarities when it comes to home insurance coverage, there are some differences that are imperative to pay attention to. And thus, if you live in the state of Minnesota, it is vital to get an overview of home insurance for this state and consult a reputable insurance agent. 

Types of Home Insurance

There are four basic types of home insurance, including property damage, medical liability, personal liability, and temporary living expenses. These types of home insurance are further divided into several other subtypes. The following includes the description of these types of home insurance: 

Property Damage

This type of insurance covers hail, wind, and fire damage. Also, most policies cover other perils, like explosion, vandalism, and theft. 

Temporary Living Expenses

This typically compensates for living somewhere temporarily if your property/house is unlivable due to severe damage. 

Personal Liability 

This type of coverage covers possible legal expenses from damage to other people’s property or injuries. 

Medical Liability

This type of coverage is for medical expenses for people with injuries received while on your property. 

Determine Proper Coverage

In addition to knowing the basic types of home insurance coverage, it is vital to know what home insurance policies usually do not cover. It is also important to know what can cause your policy from being renewed or canceled and what can affect your rates. Floods and some high-end items are typically not covered on home insurance policies. Also, you should create a home inventory and consult a reputable insurance agent to obtain an adequate home insurance policy for you.

Conclusion

For more information about home insurance in the state of Minnesota, contact Hanneken Insurance Agency Inc. today. Located in Little Falls, MN, Hanneken Insurance Agency Inc. is not only highly trained and licensed, but they also have been providing insurance products to people in Little Falls, MN, and surrounding areas for over 30 years now. They will steer you in the right direction, so contact them today! 

Is It Time to Update Your Auto Insurance?

Auto insurance is arguably some of the most important coverage you can have. It’s also mandatory, so you don’t want to risk driving without it. If you’re located in the Little Falls, MN area, Hanneken Insurance Agency Inc. can help you get the type and level of coverage that’s right for your needs. Depending on how you use your vehicle, who else drives it, and other factors, it might be time to make some updates to your policy. It’s also a good idea to look over your policy with your agent at least once a year, for needed changes.

If there’s been a change in your household, such as a child who turned 16 and got a driver’s license, updating your policy to reflect that change is important. Fortunately, when you work with trusted agents it’s not difficult to make the updates that are important to you. Our trained professionals are here to help, in order to get your policy updated so you have the right kind of coverage for your travels and adventures. That can help with protection, but also with the peace of mind, you need to enjoy your vehicle wherever it takes you.

Come see us today at Hanneken Insurance Agency Inc. If you’re in the Little Falls, MN area we can help you get your auto policy updated. Our agents will be happy to answer your questions and go over any concerns you have so you can be ready for the road ahead. Then you can make the right choices for coverage levels, add or remove coverage that might need adjustments, and make sure you have the level of protection you’re really looking for. There are plenty of options for auto insurance beyond the minimum limits, so it’s important to know what’s actually right for you.

Questions to ask when you are choosing health insurance

If you are stressed out by the thought of having to choose health insurance, you are not alone. About 50% of people questioned about choosing health insurance described it as very stressful. So much depends on making the correct choice. Getting the right health coverage shapes your medical care for the next year. Having an insurance carrier who can help answer your questions is crucial. In Little Falls, MN, Hanneken Insurance Agency Inc. has been serving central Minnesota for more than 30 years. We represent more than 60 carriers providing our customers with lots of choices. 

How much does the policy cost?

Price should not be the primary factor in your health insurance decision but ideally, if it is not affordable, you should not even be considering it. Only considering policies you can live with makes more sense than dreaming about the perfect one you won’t be able to pay every month. After you have limited your choices to health insurance you can afford, there are still some very important questions to ask. 

Are my doctors in the network?

Every health insurance carrier has a network of providers who have contracted to provide services. This allows the insurance company to manage costs and offer customers the best prices possible. If you don’t have a primary care physician or any specialist you have a relationship with, you don’t need to worry. If however, you do have doctors you prefer, you need to know you will be able to use them.

Are my prescriptions covered?

Each carrier has a list of covered drugs called a formulary. Getting your prescriptions covered is important especially if you are on maintenance drugs. 

What is the yearly deductible?

This is the amount you need to pay out of your own pocket before the insurance policy begins to cover expenses. 

At Hanneken Insurance Agency Inc. in Little Falls, MN, our experienced team can help to answer these and any other questions you may have about health insurance. Contact us for a free quote. 

Exploring The Benefits Of Farm Insurance

Hanneken Insurance Agency Inc. serves the Little Falls, MN community, as well as the surrounding areas. For over 25 years, we have helped our clients find policies that fit their individual needs. We have working relationships with over 50 companies throughout the Midwest. We proudly serve as an independent agency.

The Benefits Of Farm Insurance

Farm insurance provides protection to Little Falls, MN farmers. Central Minnesota is home to a great farming heritage. Farm insurance covers your home and personal possessions so that you can continue growing crops with a minimum level of stress. You are protected if any damage occurs to your plants, trees, lawn, or shrubs. You can amend your policy to protect yourself in the event of a natural disaster such as a fire or power outage. Here is a look at some of the benefits of farm insurance.

Protects Your Livestock

Farm insurance protects your valuable livestock. You are covered if some of your livestock is stolen or injured due to a shooting or attack by wild animals. You can also amend your policy to cover you if your livestock passes away due to illness.

Protects Your Crops

Farm insurance covers any damage to your grain, seed, and other crops. You are protected if you are unable to operate your business for a few weeks due to an accident involving your crops.

Protects You In A Liability Dispute

Farm insurance provides liability coverage to help minimize risks. You are covered if someone gets injured on your property. You are also protected if you cause damage to someone else’s property. This includes your animals escaping from the farm and causing damage or your farm machinery malfunctioning.

Hanneken Insurance Agency Inc. Will Help You Protect Your Investment

Visit our website today to learn more information about farm insurance.  

Do I need life insurance in Minnesota?

People that live all over the Little Falls, MN area are going to have a variety of different personal insurance needs. An important form of insurance coverage to consider getting is life insurance. This type of protection can offer many benefits including the ability to protect those that rely on you. There are a few different reasons why people here will need to get a life insurance plan. 

Protect Those that You Care About

A reason that you should get a life insurance plan when you are in Minnesota is so you can protect those that you care about. If you would like to get this coverage here you can build a plan that is curtailed to meet the needs of your dependents. This can include handling the future costs associated with housing, higher education, or even retirement.

Conservative Investment Alternative

If you would like to get a life insurance plan in Minnesota you will also find that it offers unique investment benefits. When you get a whole life insurance plan a portion of your monthly payment will build up in an account that you can liquidate in the future. This account will continue to build with interest and offers little risk to the investor. This can be a good addition to any personal investment plan. 

Having life insurance in the Little Falls, MN area is very important. When you are in the market for a new policy, it would be a good idea to call Hanneken Insurance Agency Inc. When you do call Hanneken Insurance Agency Inc. you can learn more about your different life insurance options and the benefits of having coverage. This can help you pick a policy that is right for your situation and provides ideal life insurance coverage. 

Commercial Insurance Requirements and Options in Minnesota

You have put your money, hard work, and heart into your business and you will want to protect in any way you can. One of the main ways to provide protection for your business is through commercial insurance and the agents at the Hanneken Insurance Agency Inc. in Little Falls, MN can provide you with the information you need to obtain the commercial insurance policy that is best for you and your business.

Workers’ Compensation Insurance

In Minnesota, if you employ people to work at your business, you must either maintain workers’ compensation insurance or become self-insured to cover any injuries to your workers that occur on the job. This will also cover any lost wages your employees experience while being off work due to an injury or illness that occurred due to their job.

Commercial Auto Insurance

Under Minnesota law, all motorists must at least have an auto liability insurance policy in place and this includes vehicles that are owned by your business. If personal vehicles are used for your business, you should ensure that the owners of those vehicles have at least an auto liability insurance policy in place.

General Liability Insurance

If you rent the space in which your business is located, the property owner will probably require you to have this type of policy in place. Even if you own your business space, it is a great idea to have liability insurance to be on the safe side. For example, if a customer is injured while visiting your business, this type of insurance will cover their medical bills. It also protects you and your business if a product that you produce injures someone or if an employee of your business causes an accident to happen that injuries someone or causes property damage.

Other Coverage Options

There are several commercial insurance options you can also choose to have in place, including business interruption insurance, property insurance, cyber liability coverage, and management and employee practices liability insurance.

To obtain a quote or to make an appointment with an experienced commercial insurance agent, call the professionals at the Hanneken Insurance Agency Inc. in Little Falls, MN today!

Why You Need Home Insurance For a Home Loan

A common insurance policy that homeowners take in Little Falls, MN, is a homeowner’s insurance policy that protects their personal possessions. If you decide to buy a property through a bonded loan or a mortgage, a financial institution may require you to have homeowner’s insurance before it even considers your application.

Hanneken Insurance Agency Inc. seeks to lighten the burden of homeowners who use loans to buy their dream houses. Mortgage providers face several risks when they lend money to home buyers. One of them is that a borrower may fail to pay the home loan back, leading to foreclosure to recover the loan. It raises the need for banks and borrowers to protect themselves from financial loss.

Another significant risk is that a property can be damaged or destroyed while bonded. In this case, the buyer, you, and your bank are affected. Although the bonded property is damaged extensively, you still have to repay the mortgage. It places a heavy burden on you and hurts your budget, something that you need to avoid.

If you become unable to clear the home loan, your bank may lose in that the property is no longer there to serve as security against the mortgage. For this reason, a homeowner’s insurance policy is essential to protect you and your mortgage provider. The policy provides coverage for the bonded property, not its contents.

If a fire or anything destructive causes severe damage to the bonded property, the homeowner’s insurance should pay for the property loss and repay the home loan, too.

KEY TAKEAWAY

A bonded property faces many risks, including fire, storms, non-repayment, etc., leading to a financial loss to you and your bank or financial provider. A home insurance policy is necessary to protect yourself and the financial institution.

Interested in knowing more about how you can protect yourself when you take a home loan? Contact Hanneken Insurance Agency Inc. today.

Should I get auto insurance in Little Falls?

The Little Falls, MN area is a great place for someone to work and live. While there are a lot of advantages that come with living in this area, the location and layout of the city make it a place where owning a car is a practical necessity. If you are going to purchase your next vehicle here, you also need to get proper insurance for it. You should get this coverage and keep it in place when you have a car. 

Insurance Will be Required

An important reason to get auto insurance when you are in this area of Minnesota is that it will be a requirement for you. Any driver in the state needs to carry auto liability insurance at all times. People that do drive a car without this insurance are often caught and penalized, which could include losing a license or other privilege. Additionally, anyone that has an auto loan will have to maintain a full policy until the loan is repaid.

Insurance Protects Car Owner

Even if you did not have requirements for insurance, you should still get it. With an appropriate insurance policy, you are going to receive coverage for liability and your asset. This can help to ensure you are covered and protected in several different challenging situations. 

Those that are going to move to the Little Falls, MN area and are in need of auto insurance should call the team at Hanneken Insurance Agency Inc. When you do call Hanneken Insurance Agency Inc. you can get a lot of guidance and support that will be necessary to ensure you pick the right insurance policy. There are many options available to you and the team here will help you build a policy that properly addresses your needs. 

Three mistakes to avoid when you buy health insurance in Minnesota

Health insurance is one of the most important financial products you need to both protect your finances and stay healthy. We provide health insurance policies in Little Falls, MN at Hanneken Insurance Agency Inc.

The following are three mistakes you need to avoid when you buy health insurance in Minnesota.

Selecting the least expensive plan available

It’s important to carefully evaluate any plan before you choose it. Plans are going to vary widely in cost. However, it’s important to realize that less expensive plans won’t offer nearly as much coverage as the plans that cost more.

Choose a plan that best suits your needs and offers the best value. 

Not buying any coverage because you think you’re healthy

Too many Americans make the mistake of thinking they can get away with not having coverage because they’re healthy. 

It’s important to at least have some basic coverage to protect yourself in the event of an injury or illness. You never know what can happen in the future. Most individuals occasionally need health care services even if they are healthy. That’s why it’s so important to have insurance.

Being unaware of government subsidies and assistance you’re eligible for

There are many government programs that help consumers to afford the costs of health insurance.

It’s essential that you look into your eligibility for government subsidies before purchasing a plan. Otherwise, you might end up paying much more than you should have for coverage. 

If you’re on the market for health insurance in Little Falls, MN, contact us at Hanneken Insurance Agency Inc to learn about the health insurance options we offer. We can answer your questions about health insurance in Minnesota.  

Who needs farm insurance in Minnesota?

For those that are in the Little Falls, MN area, owning a farm can be a great way to earn a living. There continues to be a demand for farmers in this area of the country and the industry offers a lot of potential for success. If you are going to purchase a farm here, you need to make sure that you insure it as well as possible. There are several situations when someone would need to get a farm insurance policy. 

Those Taking Out a Loan Need Insurance

A lot of people that own a farm will need to take out a loan at some point. Farm loans can be used to purchase new equipment, build a barn, or pay for inventory. If you do take out a loan of any kind, you will have to get the proper coverage to comply with the lender’s requirements. Lenders usually require insurance as it can protect their collateral and could help keep your farm solvent. 

Those Looking to Expand Customer Base

Another situation when you are going to need farm insurance is when you want to expand your customer base. If someone is going to purchase products from you, they will want to ensure that you are properly covered by liability insurance. Having a good insurance policy could be a requirement in order to grow and find new customers. 

Anyone that owns or manages a farm in the Little Falls, MN area needs to make sure that they protect it as well as possible. When you are looking for a new farm insurance policy here, you should call Hanneken Insurance Agency Inc. The team at Hanneken Insurance Agency Inc. understands the unique risks that come with owning a farm. They can then help you build an insurance policy that will mitigate these risks as much as possible.