4 reasons you need to buy term life insurance

Life insurance comes in all shapes and sizes to fit different consumer needs. The policy is divided into major types–term and whole/permanent life insurance. In such a complex marketplace, it becomes difficult to choose the right plan. However, there is always a typical winner as most people in Little Falls, MN, choose term life insurance to keep things as simple as possible. If you’re wondering why you should go for term life insurance, Hanneken Insurance Agency Inc will share four reasons why you should.

1. Can pay for your debts

If you’re the breadwinner for your family, you may want to buy term life insurance to ensure that your family is provided for even after your death. If you have students loans, car loans, mortgage, and other debts, your policy can help clear all of them if you pass away without fully paying them.

2. You lock in low rates 

Many people in Little Falls MN, buy term life insurance due to its surprisingly low rates. Unlike whole life insurance, you’re likely to pay your premiums smoothly without hitches throughout the agreed duration. You can also opt for simplified term life insurance that fits your goals.

3. It’s more flexible

Term life insurance allows you to take charge of your financial needs and plan your future accordingly. If you are young and single, you can buy the policy and choose your duration–3, 5, 10, or even 30 years, depending on your lifestyle goals.

4. Rates remain the same throughout

Unlike permanent life insurance, which comes with maturity benefits, term life insurance does not have such privileges. However, rates remain the same throughout which makes it easier for you to plan your finances as you age.

Buying term life insurance soon? Hanneken Insurance Agency Inc. would like to be part of the process. Let us guide you through the process and make sure you’re adequately covered. Feel free to call or visit our offices in Little Falls.

Required Commercial Insurance in Minnesota

If you own a business in Minnesota, there are two types of commercial insurance that your company may be required to have. In addition, there are many other types that are smart to have but not required by law. If you need commercial insurance, call us at Hanneken Insurance Agency Inc. in Little Falls, MN. 

Workers’ Compensation Insurance

In Minnesota, most businesses are required to carry workers’ compensation insurance for their employees. This is mandated by the state if your company has at least one employee whether they work full or part-time. If you are a sole proprietorship with no employees, you are not required to have this type of insurance. For all other businesses, this insurance policy protects them from having to pay for the medical bills of those who are injured at work. For employees, it stays ready to pay for their medical bills after an accident or illness that happens while on the job. 

Commercial Auto Insurance

Every vehicle in Minnesota has to be covered by auto insurance, and every vehicle in the state that is owned by a business is required to have a commercial insurance policy. These policies will pay out if there is a company vehicle that has an accident. If the same vehicle had a personal insurance policy, it would not pay out because the vehicle was used for business. If you use a personal car for business, it’s recommended that you get a hired and non-owned auto policy for it. 

Other Insurance

While no other insurance types are mandated, there are several that are helpful to small businesses. These include a business owner’s policy, professional liability coverage and cyber insurance. Talk to an agent about the best ones for your business type. 

Get Your Commercial Policies

If you are in need of a commercial insurance policy, call us at Hanneken Insurance Agency Inc. in Little Falls, MN.

3 Risks of Driving Without Minnesota Auto Insurance

Considering how vital auto insurance is, it’s difficult to imagine that some motorists in Little Falls, MN, drive without auto insurance. But because humans will always be humans, it’s not uncommon to find uninsured motorists in Minnesota. In fact, recent statistics show that 9.9 percent of Minnesota drivers aren’t insured. 

Until you are involved in an accident, you might think failing to buy auto insurance is a wise saving. However, you are in for a rude shock when an accident or any other disaster occurs on your vehicle. Whether it’s intentional or not, failure to buy auto insurance from Hanneken Insurance Agency Inc. exposes you to the below risks. 

Breaking the law

It’s an offense to drive without auto insurance in Minnesota. Penalties for first offenders include a fine of up to $1,000, community service, and suspension of driver’s license and car plates up to 30 days. Of course, the penalties can increase dramatically for repeat offenses. 

Uncovered losses

It’s usually a huge risk driving without auto insurance. Given the inherent risks like distracted, speeding, teenagers, and drunk drivers, the risk of an accident is extremely high on American roads. National Safety Council states that at least 1 in every 11 drivers is likely to be involved in an accident at some point. The result? The aftermath of accidents is injuries and property damage, at the very least.

Without insurance, you need to pay for your medical expenses from your pocket. Similarly, you have to fix your car and that of the other motorist out-of-pocket. 

Legal suits

While a court case can still follow even when you have car insurance, you are likely to incur out-of-pocket legal expenses when you don’t have auto insurance. Worse yet, your assets will be at stake if the case is ruled against you and the settlement claims are enormous. 

Are you feeling like driving without auto insurance in Little Falls, MN? The risk is not worth it. Instead, be a wise driver and purchase auto insurance from Hanneken Insurance Agency Inc. Contact us today for an affordable quote.

How Often Should I Upgrade My Home Insurance Policy?

When you built or bought your Little Falls, MN home, you purchased home insurance. But since no catastrophe has hit, it’s easy to forget to update your home insurance plan. Reviewing your home insurance helps you avoid a nasty experience when filing a claim. According to Hanneken Insurance Agency Inc., you should at least update your home insurance every year. But if certain situations arise, you shouldn’t wait for a year to lapse because disaster can strike in between.

Why insurance review is important

Home insurance not only gives you peace of mind but also protects what you treasure in case the unexpected occurs. Having sufficient coverage cushions you financially when your valuables are damaged or lost through perils like fire, theft, hail, and many others. Besides, periodic insurance review helps your agent find whether you are eligible for discounts.

When should you upgrade your home insurance plan?

After buying home insurance, it shouldn’t be a “set and forget” purchase. When the below situations arise, you should talk to your insurance agent for a review.

  • You bought new valuables: During the year, you might buy things little by little that can accumulate to a significant value when added together. Leaving these additions out of your home insurance policy is a recipe for disaster when the unthinkable happens. Often, take an inventory count of your valuables from room to room and compare them with your insurance list. Any uncovered valuable item should be insured.
  • Changes in your family size: You got married? Did you become a foster parent? These changes should be reflected in your home insurance to cushion you against liabilities that may arise from your family members. 
  • Significant home improvements: Added an extra room? Remodeled your kitchen? Update your home insurance policy with these significant improvements for optimal coverage.

Are you unsure when you should update your home insurance in Little Falls, MN, and its environs? Please contact Hanneken Insurance Agency Inc. for more information.

4 Benefits of Health Insurance

If you have been keen, healthcare in the US has been rising every day. Without health insurance, medical costs can drain your finances. To protect yourself from the biting healthcare costs, you need to secure health insurance from Hanneken Insurance Agency Inc. of Little Falls, MN. This way, you will enjoy the below benefits.

Coverage of medical expenses

Of course, the most common reason for a health insurance plan is ensuring you receive proper medical care without straining your resources. Health insurance covers hospitalization expenses, medication costs, ambulance costs, domiciliary expenses, and many others. With health insurance, you can focus on your recovery, knowing that medical costs are taken care of. 

Coverage of chronic health conditions

The good thing with health insurance is that it protects against life-threatening diseases such as cancer, heart disease, and stroke. Health insurance caters to treatment costs, disease management costs, and other financial obligations.

With the increasing pollution, increasing accident rates, deteriorating lifestyle, and the emergence of new diseases, you need health insurance to protect your health. 

Prevention of illnesses

Health insurance plans offer preventive and routine care to prevent the occurrence of future illnesses. Services like vaccinations and routine checkups are pivotal in preventing and identifying illnesses at an early, easy-to-manage stage. 

For peace of mind

No one likes to get ill or injured. You might be in good health now, but the next minute you are sick or injured. Since we are humans — and humans get sick — we need health insurance to protect us at our vulnerable moments. 

Health insurance near me

Health is wealth. That said, you need to safeguard your health with a sound health insurance plan. If you are a resident of Little Falls, MN, your health insurance needs are well covered by Hanneken Insurance Agency Inc. Contact us today, and our friendly staff shall help you navigate the health insurance landscape. 

How much farm insurance do I need in Little Falls, MN

How much farm insurance do I need in Little Falls, MN?

If you’re into commercial farming, you need to protect your business property through farm insurance. Most Little Falls, MN farm policies cover your home, possessions, and liability. They also cover your livestock and machinery but not crops. Insurance professionals at Hanneken Insurance Agency inc. recommend buying farm insurance instead of relying on home insurance to get the most out of your policy.

Do I need farm insurance if I have home insurance?

Farm insurance is designed to work like home insurance, only that the farmers live where they work. Policies vary and can be customized to fit your desired goals. If you are farming to produce food items to be used in your home, then home insurance can cover the damage in case of accidents. However, if you are farming to generate income, farm insurance can be the best option.

How much insurance should I buy?

The amount of insurance to buy vary from one policyholder to another because everyone has different needs. It also boils down to the purpose of your farming activities and the size of the venture.  Ideally, you are looking at the risks associated with your farm and matching them based on the size. Your local insurance agency in Little Falls, MN, should assess and create a list of everything you have to come up with coverage options and premium amounts. Most policies are also flexible, and you can add or remove coverages when the need arises. For instance, if you didn’t have livestock on your farm and decided to add a few cows, pigs, and goats, your insurance company should allow you to add coverages that protect them, or you can raise your premiums.

Not sure how much farm insurance to buy in Minnesota? Hanneken Insurance Agency Inc. can help you find a policy that takes care of all your needs. We also customize policies to fit all your needs from equipment, machinery, livestock, and personal belongings. Call us today!

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.