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. 

How to Purchase the Right Home Insurance

Protecting your home is a top priority. It’s your refuge, your own space in this large world. Without home insurance, you put this invaluable asset at risk. Whether you have a mortgage or not on your property, having home insurance is a smart way to protect your investment. But how do you find the right home insurance in Little Falls, MN? Read on to find out.

1. Compare Quotes

When shopping around for home insurance, it is best to get at least two quotes to compare. More is better. When you have a few quotes in front of you, you will get a better idea of costs, what’s covered, and other important factors. A qualified agent at Hanneken Insurance Agency Inc. can help you go through each quote to find the best policy.

2. Bundle Policies

If you’re looking to save money on a home insurance policy in Little Falls MN, consider bundling policies together under one insurance company. For example, you can bundle your auto, commercial, boat, RV, and any other insurance policies you have to save money on your premiums. Insurance companies love to reward the loyalty of their customers by offering this bundle savings.

3. Use a Reputable Agent

Finally, choose to work with an agent who has a history of customer satisfaction and who is knowledgeable and easy to work with. This goes a long way when looking for home insurance for your primary residence or even a vacation home.

At Hanneken Insurance Agency Inc. serving the Little Falls area, we are dedicated to finding you the right home insurance at the right price. Our agents are standing by to answer all of your questions and help guide you through the home insurance buying process. 

Does the Value of Your Car Affect Car Insurance Rates?

There are many different factors that can affect your car insurance rates. Here at Hanneken Insurance Agency Inc. serving Little Falls, MN. we are often asked if the value of your car will affect your rates. Here is what you need to know about this topic. 

Does the Value of Your Car Affect Car Insurance Rates?

Many people are worried that if they buy an expensive car, their car insurance rate will increase. They worry about how the value of their car will affect the rate, if at all. The value of your car can affect your car insurance rates. However, the value of your car is not the only factor that affects your rates. Two people with the same driving record, and with two different cars with the same value may still have two very different car insurance rates. 

What Other Factors Affect Car Insurance Rates? 

Aside from your driving record and the value of your car, there are a few other factors that can affect the price you are quoted for car insurance rates. One such factor is the theft rate for the type of vehicle you have. Another factor is how much repairs are, on average, for the make and model of car you have if it is involved in an accident. The number of miles you drive and the address where the vehicle is housed can also affect how much your auto insurance rates are. 

The value of your car can affect your auto insurance rates, but many other factors can as well. If you are in the market for a new auto insurance rate, Hanneken Insurance Agency Inc. serving the greater Little Falls, MN. area can help. Contact us today to inquire about a quote and to learn what factors can affect your car insurance rates.  

Can Using Supplements Cut Down On Health Care Costs?

Even the most finely planned budget can get wrecked by health care costs. If you want to keep your health care costs to a minimum you must be proactive. Taking certain steps to keep yourself healthier will go a long way toward saving your wallet, not to mention making you feel better in the long run. Supplements can help.

Start With The Basics

Everyone should take a basic multi-vitamin and multi-mineral. Many health issues are caused by simple vitamin deficiencies. Even things as simple as a vitamin D deficiency can manifest with symptoms of something far worse. Many doctors now are checking vitamin D levels when patients come in complaining of everything from depression to chronic pain. Another deficiency which causes many health problems is magnesium. A magnesium deficiency can cause muscle spasms and depression symptoms. Unfortunately, our American diets are not sufficient to provide us with the vitamins and minerals we need. 

Do Your Homework

Do some research to see which of your symptoms might be related to a vitamin or mineral deficiency. You may think you are seriously sick when really you just need to increase your levels of certain vitamin or nutrient.  It is also helpful to research other more natural ways to fight common conditions. There are supplements which can help with a myriad of issues. The downside is that many of these supplements do not work as fast as a regular medication. The bonus, however, is that taking a natural route is often much less expensive. If you are taking prescription medications, be sure to check with your pharmacists to make sure the supplements you choose will not interact negatively with any of your medications. 

Supplements can help you maintain a greater quality of health and thus decrease your health care costs in the long run. To learn more about health care costs and insurance contact Hanneken Insurance Agency Inc. serving Little Falls, MN. 

3 Things to Look for When Buying Insurance for a Dairy Farm

Living on a farm means that you have a wide range of tools, buildings, and equipment that isn’t typically found on the average property. If you own a dairy farm, your animals are your most likely a large portion of your household income, so they are just as essential as the farming equipment. If you are new to dairy farming and not familiar with the type of insurance you’ll need, the following will provide you with information about what to look for when you are buying insurance for your dairy farm.

Animal Collision

In the unfortunate situation where you’re herd is injured, your household finances will inevitably be injured as well. When it comes to coverage for your dairy livestock animal collision is an option that you can include with your livestock insurance. Coverage can vary, for example, you may want to consider injuries from unlikely sources, such as attacks by wild animals or damage from fire or lightning. Be sure to talk with an insurance provider for recommendations that best suit your needs.

Building and Equipment Coverage

The equipment and building coverage that you may need for a small dairy farm isn’t going to be the same as it would be for a large, corporate operation, but it is still essential. Your agent at the Hanneken Insurance Agency Inc. will have a better understanding of the trends and risk of farming that are specific to the Little Falls MN area. It is important to insure all of your property including buildings, equipment, and dwellings.

Milk Coverage

Operating a dairy farm means you heavily rely on the milk. Maintaining the right amount of coverage for the milk will help to protect your farm from almost anything unexpected. For example, contaminated milk can have a significant impact on financial losses. With the appropriate coverage, if any contaminant is introduced into the processing, milk coverage will protect your dairy farm from the unforeseen costs.

It is important to note that home insurance is completely different than farm insurance, even if you live on the farm. Typical home insurance generally will not protect you against the additional risks that come with owning a farm. So, it is essential that you talk with your insurance provider to help determine if you have sufficient coverage for your home as well as your dairy farm.

Residents of Little Falls, MN interested in learning more information about farm insurance should contact Hanneken Insurance Agency Inc.