How do I know if I need farm insurance?

Farmers in and around Little Falls, MN understand what it’s like to deal with a mix of the old and the new on an everyday basis. While most things have changed, many others remain comfortingly the same. One thing modern farmers have in common is the need to protect themselves from the risks associated with farming activities.

Who Actually Needs Farm or Ranch Insurance?

If you don’t technically live on a farm or ranch, a standard homeowners policy might be adequate to meet your needs. There are some criteria you can use to decide if you will need the additional coverage available with a specialized policy:

  • Are there any additional structures on your property, like a shed, a stable, or even a greenhouse?  Especially if you are growing plants for sale, you may want to consider the amount of revenue you expect to receive when deciding whether or not to get farm insurance.
  • What kind of animals are you keeping on your property? Larger animals like cows or horses may give your property a business exposure that requires you to get more protection.
  • Are there workers on your property? If you have employees who help with the crops or animals, they are a potential liability. Minnesota law requires that most employees be protected with workers’ compensation insurance.

Buying a Farm Insurance Policy

At Hanneken Insurance Agency Inc., we can help you go through all your options and help you look at your situation to see if you need farm insurance. Your policy will be individualized to fit your circumstances because every situation is different.

If you are in Little Falls, MN and thinking about whether you should get farm insurance, call Hanneken Insurance Agency Inc. today so we can show you all your options.

Top Reasons You Need Life Insurance

Life insurance is something that a lot of people do not really think about until they need to. But how do you know if you need to think about getting it in Little Falls, MN? Usually, someone asks you if you have considered it. However, what if you could get ahead of the ask and get life insurance when you know you need it, not just when someone suggests it. Here at Hanneken Insurance Agency Inc., we are here to help you better know when to purchase.

  • Do you have children or a spouse who relies on your income? If so, you likely want to have a life insurance policy that will help to keep them on their feet while they figure out what to do next.
  • Do you want to leave your family money when you pass? While this is not a necessity to do, this is something that many people consider when taking out a life insurance policy.
  • Have you allotted any money to funeral costs? This is not something that you want your family to worry about when you pass. You should ensure there is enough life insurance money to at least cover this cost. 
  • Do you have debt? This is also something that you do not want to burden your family with after you are gone. There are some types of debt that will live on after you and need to be paid either way. Make sure you have enough to cover these debts at a minimum.

Insurance can be complicated but here at Hanneken Insurance Agency Inc. serving Little Falls, MN we want to make sure that you get what you need at the price you need. Be sure to reach out to us to learn more and get your free quote today.

Top Reasons You Need Life Insurance

Life insurance is something that a lot of people do not really think about until they need to. But how do you know if you need to think about getting it in Little Falls, MN? Usually, someone asks you if you have considered it. However, what if you could get ahead of the ask and get life insurance when you know you need it, not just when someone suggests it. Here at Hanneken Insurance Agency Inc., we are here to help you better know when to purchase.

  • Do you have children or a spouse who relies on your income? If so, you likely want to have a life insurance policy that will help to keep them on their feet while they figure out what to do next.
  • Do you want to leave your family money when you pass? While this is not a necessity to do, this is something that many people consider when taking out a life insurance policy.
  • Have you allotted any money to funeral costs? This is not something that you want your family to worry about when you pass. You should ensure there is enough life insurance money to at least cover this cost. 
  • Do you have debt? This is also something that you do not want to burden your family with after you are gone. There are some types of debt that will live on after you and need to be paid either way. Make sure you have enough to cover these debts at a minimum.

Insurance can be complicated but here at Hanneken Insurance Agency Inc. serving Little Falls, MN we want to make sure that you get what you need at the price you need. Be sure to reach out to us to learn more and get your free quote today.

What Instances Void a Commercial Policy?

Commercial policies are a great way to protect your business and to make sure that if something does happen to your business, you are able to use your commercial policy to recover after a loss. If you live in the Little Falls, MN area, the agents with Hanneken Insurance Agency Inc. can help you to find the commercial policy that is right for you.

So what voids your commercial policy? Whenever a commercial insurance policy is drawn upon the insurance agency will send out an agent to look at each individual case. They will collect information, collect evidence, and try to figure out what happened to the commercial property and what needs to be done to complete the claim and get the business back to normal. There are a few different things that will void a commercial policy, the biggest issue is going to be if the insurance agent or insurance investigator finds that the event could have been prevented or was the direct cause of the policyholder.

Say for instance a commercial property burns to the ground. If it was found that the building was burned down by arson, your policy is not going to pay. Another issue might be a claim that is based on the injury of an employee, if it is was found that your employee was injured due to your own negligence, you are not going to be able to draw on your policy. It is always best to talk with an agent about what might void your policy so that you can be sure you are on top of everything and that your policy is going to fully protect your business. If you live in the Little Falls, MN area, the agents with Hanneken Insurance Agency can help you to get the policy that is right for you.  

HOA vs. Your Home Insurance: Who Covers What?

If you own a home in a gated community or just purchased a newly built house in the Little Falls, MN area, you may pay monthly homeowners association fees.   What does this mean for your home insurance from Hanneken Insurance Agency Inc.? It means you need to know exactly where your property ends and where the HOA begins.

Common Areas Fall Under the HOA

If your HOA mows your yard, shovels the sidewalk, and keeps the pool clean and maintained, then liability and property insurance for those areas will be carried by the HOA. The HOA may actually own the streets, common parking lots, playgrounds, and even drainage systems. If you live in a duplex, double garage doors could even be included in the fees.

If You Maintain It, You Insure It

If your contract with the HOA states that you must maintain the landscaping and exterior appearance of your home, then these areas should be included on your homeowner’s insurance policy.  Your HOA may only own the access roads around the development, but you fully own the lot. Make sure to discuss all the steps, decks, sheds, and other exterior items you are responsible for with your agent to ensure the policy is written correctly.

Ask for Clarification Before Repairing Anything

Should the property around your home get damaged in a storm, from vandalism, or poor construction, before you hire a contractor to fix it and file a claim on your policy from Hanneken Insurance Agency Inc. make sure to check with the office?  If you make changes to an area owned by the HOA, you could end up paying to have the work done again according to their specifications. If you have questions about your Little Falls, MN HOA and your home insurance, give your local agent a call today.

Is There Such a Thing as Too Much Auto Insurance Coverage?

Many people in Little Falls, MN, and surrounding areas approach auto insurance by considering the minimum required amounts of coverage. At Hanneken Insurance Agency Inc. we want you to know why you should consider the opposite approach. Minimums get you on the road, but having more insurance is far more beneficial.

The Problem with Too Little Insurance

As a no-fault insurance state, Minnesota requires all drivers to carry PIP car insurance. Unfortunately, a single accident can cause damages far beyond the minimum coverage amounts.

If there’s an accident, you can make a claim against your PIP coverage. If that’s not enough to cover all proven damages, you can then press a claim against the other driver’s insurance. Here is where things can go wrong. A single car accident can lead to expenses that skyrocket far beyond what you and the other driver’s insurance coverage can deal with.

The Problem with Too Much Insurance

The danger of too much is insurance comes with costs. True, your policy can probably cover literally any eventuality, but you’re likely overpaying for it. You can increase your liability coverage, add on additional packages of all types, and increase their coverage limits as well.

You probably don’t need extreme amounts of coverage. In addition, having that much coverage can make you a target for people who want to try to sue you for as much money as possible.

The Reason You Need the Right Amount of Insurance

You need to find a balance that fits your budget and your needs. No two people have the same insurance needs. Your coverage options will depend on your lifestyle, vehicle, risks, and whether you own the car or not. To figure it out:

  • Start with the minimums
  • Underinsured / Uninsured motorist
  • Collision / Comprehensive

Look at umbrella options and other insurance policies that you can benefit from. Generally, you should consider having as much auto insurance coverage in Little Falls, MN as you can comfortably afford. At Hanneken Insurance Agency Inc. we can help you find the right amount of insurance for your needs.

What Is a “Pre-Existing Condition”?

In the past, pre-existing conditions were not covered when a new insurance policy was put in place. The agents at Hanneken Insurance Agency Inc. serve residents who live in Little Falls, MN and the surrounding communities. They are available to explain what certain terms mean and how they relate to your health insurance. A good example of this has to do with pre-existing conditions.

Pre-Existing Conditions

A pre-existing condition is a health issue that is chronic or recurring and was diagnosed prior to the implementation of your current health insurance policy. This can include heart conditions, diabetes, musculoskeletal injuries that have not been repaired. Pre-existing conditions are often the reason people were turned down for health insurance in the past, partly because they would be a built-in expense within the new policy.

Are They Covered?

Many of the newer policies will cover pre-existing conditions. With today’s medical advancements and an increase in the number of treatment options that are available, healthcare is much more cost-effective and efficient. This makes it more affordable for companies who offer health insurance to cover pre-existing conditions. It’s important that you have a health insurance policy that covers all of your needs.

The agents at Hanneken Insurance Agency Inc. can provide you with all of the information you need when it comes to finding the right health insurance policy. If you have questions about pre-existing conditions or how they may affect your ability to get a policy or change policies. If you live in Little Falls, MN, call and schedule an appointment at your earliest convenience to get all of the answers you need when buying a new health insurance policy.

Why do I need farm insurance?

The farming industry is extremely important as it helps to ensure that people all over the world have access to food. At the same time, those that own their own farm have a very valuable business that can make a lot of money. For those that own farms in the Little Falls, MN area, having a farm insurance policy in place is a necessity due to the types of coverage that it provides.

Protects the Crops Being Produced

When you own a farm, a natural disaster such as a fire or tornado could be devastating to the farm. Not only will it destroy some of your equipment, but it could also damage your crop yield for years to come. When you have farm insurance in place, you will receive coverage against these risks. 

Protects a Dwelling

A farmer will often live on a home on the farm and will also have a barn, grain silo, and other structures that are vital for the business. When you have a farm insurance policy in place, you will receive coverage for these dwellings as well. 

Liability Coverage

All farmers are taking on risk whenever someone consumes their product. Because of this, having liability protection in place is extremely important. When you have liability insurance in place, you will receive financial coverage up to the policy limits and support from the insurance provider if you are sued. 

If you are looking for farm insurance in the Little Falls, MN area, you should speak with the insurance professionals at Hanneken Insurance Agency Inc. When you meet with Hanneken Insurance Agency Inc. you will learn more about the benefits that farm insurance provides. The team can then help to get you into a policy that will provide you with the right type and level of coverage. 

Protecting Your Family With Life Insurance In Little Falls Mn

Life insurance is the most important kind of insurance in Little Falls, MN and other parts of America. It prevents your family from suffering after your death. Generally, life insurance allows you to save for the living expenses of your family when you are dead.

Find out how you can protect your family with a life insurance policy in Hanneken Insurance Agency Inc. 

Your burial expenses

Funeral expenses may cost between $6,500 and $11,000 and your family will be left to pay the bill. This will be a big problem if you are the breadwinner. It can be devastating. Your family will handle the pain of losing you, the difficulty in paying their bills, and struggle to finance your funeral ceremony and that could plunge them further into debt. 

Your death does not have to destroy your family. A life insurance policy covers your funeral expenses when you die. Even if you didn’t provide much for your family, they won’t need to bear the cost of your burial.

Your family’s monthly bill and everyday expenses

If you are the one responsible for your family’s everyday expenses and monthly bill, you can work it into your life insurance policy so that your insurance provider will continue to pay the bills. That means the standard of living of your family won’t drop because of your death. 

The bills may include monthly utility bills and rent and the daily expenses may include the purchase of some household essentials like cleaning supplies and groceries. 

Dependent and child care

If you still have children and parents who depend on you, it is necessary to work the cost of their care into your life insurance So that it won’t cease after your demise.

In summary, life insurance is meant to take care of your family after your death. You can contact Hanneken Insurance Agency Inc. to find out how you can protect your family properly with a life insurance. 

What Types of Coverage Does Your Business Need?

Every business in Little Falls, MN, even if it’s a home business, should have a general liability policy. This policy will cover damages and provide defense if your employees, services, or products cause any property damage or bodily injury to a third party. Besides a general liability policy, there will be some other insurance policies to consider based on your business needs. An agent at Hanneken Insurance Agency Inc. can help determine your risks and the best policies.

Property insurance can be useful if you have your own building or have a lot of business property, such as computers, inventory, or tools. This policy will protect these items from vandalism, theft, and fire.

Workers compensation insurance is necessary for employees in Minnesota and will provide medical benefits and wage replacement for employees who are injured while on the job. Without this, you could face stiff penalties and it not only protects you but your company as well from any legal complications.

Professional liability insurance can also be called errors and omission insurance and will provide damages and defense if you fail to or improperly render any professional services. Businesses that can use this type of insurance are any professional firm, which includes consultants, lawyers, insurance agents, hair salons, and accountants.

Commercial auto insurance will be needed for any company vehicles. You can insure any vans, trucks, or work cars from collisions and damages. If you don’t have company vehicles but employees are driving their own cars for business, then a non-owned auto liability policy will protect your business in the event that your employee doesn’t have insurance or not enough insurance.

A business owner’s policy can package insurance that a business owner needs. Based on specific needs, it can be altered to provide property protection, liability insurance, and vehicle coverage.

Contact Hanneken Insurance Agency Inc. serving Little Falls, MN, to get a quote on commercial insurance.