The Fine Print: Understanding Home Insurance Exclusions and Limitations

Home insurance is a vital safety net for homeowners, but it’s crucial to recognize that not everything is covered. To truly understand your policy, it’s essential to grasp its exclusions and limitations. Here’s more information about these exclusions and limitations from Hanneken Insurance Agency Inc., serving Little Falls, MN. 

  • Earthquake and Flood Coverage: Most standard home insurance policies exclude damage caused by earthquakes and floods. If you live in an area prone to these events, consider purchasing separate earthquake and flood insurance policies.
  • Maintenance and Wear-and-Tear: Home insurance is not a maintenance policy. Damage caused by neglect, wear-and-tear, or lack of maintenance is typically not covered. This includes issues like a leaking roof due to old age.
  • High-Value Items: While home insurance covers personal property, there are limits on high-value items such as jewelry, art, and collectibles. Consider adding scheduled personal property coverage for these items.
  • Business Equipment: If you operate a business from home, your policy may not cover business equipment or liability related to your business. You may need a separate business insurance policy.
  • Certain Dog Breeds: Some home insurance policies exclude liability coverage for specific dog breeds considered high risk. Check your policy to see if your dog’s breed is listed.

Understanding these exclusions and limitations is crucial for homeowners. Review your policy carefully, and if you have concerns or specific needs, discuss them with your insurance provider. In some cases, additional coverage or endorsements may be available to address these limitations. If you want to purchase a home insurance policy and have questions about limitations and exclusions, let Hanneken Insurance Agency Inc., serving Little Falls, MN, assist you. Call us now to schedule a consultation.

Small Business Health Insurance: Understanding Health Insurance Categories

Small business health insurance is vital for the well-being of you and your employees. Hanneken Insurance Agency Inc. can help you navigate this process and make the right choice for your Little Falls, MN team.

Categories of Healthcare Plans

Choosing the right plan can be daunting, but understanding the basic categories can simplify the process. Preferred Provider Organizations (PPOs) offer great flexibility in choosing healthcare providers, while Health Maintenance Organizations (HMOs) can be more cost-effective but limit choice. Other options like Point of Service (POS) and Exclusive Provider Organization (EPO) plans sit in between.

  • Preferred Provider Organizations (PPOs): These plans offer significant flexibility when choosing healthcare providers. They do not require referrals from primary care physicians to see specialists; they provide coverage both in and out of their network. However, the coverage is usually greater when using in-network providers.
  • Health Maintenance Organizations (HMOs): These are typically more cost-effective than PPOs but limit the choice of healthcare providers to those within the HMO network. They require referrals from a primary care doctor to see a specialist. Out-of-network care is usually not covered, except in emergencies.
  • Point of Service (POS): These plans are a hybrid of HMO and PPO plans. They require you to choose a primary care provider within the network but also provide some coverage for out-of-network care. Referrals are typically needed to see specialists.
  • Exclusive Provider Organization (EPO): These plans provide a network of providers to choose from, like PPOs. However, they do not cover out-of-network care (unless in an emergency), similar to HMOs. They also do not require referrals to see specialists.

Navigating the complexities of small business health insurance in Little Falls, MN can be challenging. Hanneken Insurance Agency Inc. is here to help.


Four key steps when you buy farm insurance

Farm owners in Little Falls, MN should understand the importance of insuring their property. Hanneken Insurance Agency Inc. offers farm insurance coverage and can meet your insurance needs. 

There are a few steps that consumers should go through before purchasing a farm insurance policy. Here are four key steps when you buy farm insurance. 

Identify the risks of your farm operation.

Before buying farm insurance, you need to identify all the significant financial risks you should be insured against. In addition to considering risks, you should also identify any types of insurance coverage that your farm operation is required by law to carry.

Determine which types of coverage you need.

Farm insurance differs from other types of insurance because of its various coverage types. For example, farm insurance can include coverage for livestock and crop damage. Farm insurance can also include machinery coverage and outbuilding coverage.

Explore your options so that you know about all the different types of coverage that you can have included on your policy.   

Figure out how much coverage you need.

If you want to purchase adequate coverage for your farm, you may want to insure your property for its full value. You also need to determine how much liability coverage to buy. Farm owners should carry enough liability coverage to protect their assets if they face a lawsuit. 

Get quotes on farm insurance policies.

Find farm insurance providers in your area and get several policy quotes that you can compare. 

We’re here to help you with all your farm insurance needs in Little Falls, MN. Call us at Hanneken Insurance Agency Inc. if you’d like to get a quote on an insurance policy for your farm property. 

What Categories of People Should Have Life Insurance?

Life insurance is the type of insurance that many people do not want to think about. However, getting life insurance is an intelligent choice. Anyone can benefit from life insurance, but specific categories of people need it most. If you fall under any of the following categories, consider buying a life insurance policy today:

The Categories of People That Will Benefit From Life Insurance:

  • People with financial dependents. For example, do you have a spouse who does not work and lives off your income? You do not want to leave them financially insecure if something happens to you. The best thing you can do for your dependents today is to purchase life insurance. 
  • You are a parent of young children. According to a Brookings study, the average cost of raising a child from birth to age 17 is about $300,000. If you have children who need food, clothes, healthcare, and education, you should consider having life insurance. It is one of the best ways to protect them. 
  • People with risky occupations. If you are a police officer, firefighter, or emergency responder, you are probably underinsured. The chance of you not coming home at the end of your shift is relatively high. For this reason, you should consider getting life insurance that will financially protect your family and dependents. 
  • Business owners. If you run a business, you will also benefit from having life insurance. If you pass away, a life insurance policy will help you continue your business operations. For example, your business partners can use it to cover immediate financial obligations, pay off business debts, and other ongoing expenses. 

Hanneken Insurance Agency Inc. – Trustworthy Insurance Company in Little Falls, MN

If you live in the state of Minnesota and thinking of buying life insurance to protect the future of people you care about, Hanneken Insurance Agency Inc. is ready to help you. We will help you find a perfect policy based on your individual needs and budget. We serve clients in Little Falls, MN, and other nearby towns. Please get in touch with us for more information, and we will be glad to provide you with the information you need. 

Different Types of Auto Insurance Coverage: What Do You Need?

You may be familiar with auto insurance and how it works. But did you know that there are different types of auto insurance? If you are searching for auto coverage, it is important to know all the types, so that you can decide which one you need. Here is a brief review of several basic types: 

  • Liability insurance. If you cause a car accident, this coverage will pay for the other driver’s damages. It will cover everything, including injuries and even death. 
  • Collision coverage. It pays for the damage to your car if you are involved in a road accident with another vehicle. 
  • Comprehensive insurance. Usually, this coverage pays for damages to your car involving different situations besides road accidents. These situations may include severe weather events, vandalism, or accidents with animals on the road. 
  • Uninsured motorist coverage. Its purpose is to protect you and your vehicle against situations involving uninsured drivers. It pairs with underinsured motorist coverage. 
  • Underinsured motorist coverage. If you decide to carry the minimum liability insurance only, it may not be enough. In most cases, liability insurance does not cover everything. That is where underinsured insurance comes in. It protects you if you are involved in an accident caused by a driver with minimum liability coverage. 

There are some other types of auto insurance that you may be interested in. You can always contact an insurance agent and ask them to tell you about all the insurance types they offer. 

AFI Insurance in Denver CO – We Will Help You Find the Ideal Coverage You Need

Are you a Denver CO resident? Or do you live in any surrounding town in Colorado? Are you looking for a new auto insurance policy to protect your vehicle and yourself? We at AFI Insurance, know how to assist you. If you reach out to us, we will answer all of your questions and help you find the perfect policy. Please give us a call to know more. 

Does your home insurance protect your business laptop?

At Hanneken Insurance Agency Inc., we serve Little Falls, MN, with the home insurance its residents need to protect their financial investment in their abode. This blog answers common questions about what business equipment your home insurance covers and how to increase that protection through riders.

What Home Insurance Covers

Your homeowner’s policy does cover a limited amount of business equipment. Most home policies include about $1,500 of coverage for business-related items. A home policy covers property damage to personal property but not business equipment.

That might not seem like a lot of money, but a home policy covers typical living arrangements. The policy’s design best suits those who go to work at an office every day and rarely bring homework, computers, or equipment. Of course, as times changed, the insurance industry evolved to provide coverage for those who work from home and run home-based businesses.

Home-Based Business Rider

If you anticipate needing to keep business inventory or equipment at home, add a policy rider developed for home businesses. This added coverage lets you set the policy coverage amount, so if you own $10,000 in computer equipment and store it at home, you can cover that amount.

Hanneken Insurance Agency Inc. works with Little Falls, MN, businesses to create customized coverage for them to suit their needs. That means we can set coverage levels at the valuation you need to cover your equipment.

Contact Hanneken Insurance Agency Inc. Today

Contact us today to set up an appointment or a Zoom meeting. We’ll ask a few questions about your home business and your equipment, then provide you with a quote for your updated home policy. You can cover your home business equipment under your home insurance policy, and we can help.

Does Your Auto Insurance Cover Vet Bills If Your Pet Is Injured in an Accident?

As a pet owner, it’s always a worrying thought when it comes to your pet’s safety while you’re driving. Most pet owners in Little Falls, MN, rely on their auto insurance to cover the damage in case of an accident. But what if your pet gets injured in an accident while on a trip with you – will your auto insurance cover the vet bills, or is your pet on its own? Hanneken Insurance Agency Inc. explains whether your auto insurance covers pet injuries and what options you have for protecting your furry friend.

Auto insurance typically doesn’t cover vet bills for injuries to your pet if they were in the car with you when an accident occurred. Pets are considered personal property, just like any other item in your car, and most auto insurance policies only cover damage to other people’s property, not your own.

Another option is adding optional pet injury coverage to your auto insurance policy. Pet injury coverage is an add-on option to your auto insurance policy that reimburses you for reasonable and necessary medical expenses caused by accidental injury or death to a pet while in the vehicle during an accident.

If you’re considering pet injury coverage, remember that not all insurance providers offer it, and it may only be available in certain states.

In conclusion, it’s unlikely that your auto insurance policy will cover your pet’s medical expenses if they’re injured during a car accident. As a pet owner in Little Falls, MN, you want to know your options and take the necessary measures to protect your pets in case of an accident. Contact Hanneken Insurance Agency Inc. to discuss other options, including pet insurance.

What You Have to Know About Farm Insurance

On the surface, homeowner’s and farm insurance policies seem the same. Although they are similar in a lot of respects, there are some remarkable differences you should keep in mind. Whether you grow your own veggies for the local farmers’ market or are looking for a full-time job working on your farm, it’s vital to have the right coverage.

At Hanneken Insurance Agency Inc, we understand how important farms are to residents of Little Falls, MN. That’s why we put together a brief look into the basics of farm insurance.

How Farm Insurance Differs From Homeowner’s Insurance

Your home insurance policy may cover some aspects of hobby farming. However, if you want to profit on your farm, you’ll likely need a different type of policy. Farm insurance is designed to cover both personal and commercial risks to your property. This ensures that if a disaster strikes your equipment, structures, harvested goods, and other things, you have a policy in place that will help cover the costs of replacement or repair.

Special Insurance Coverage Considerations

One thing you have to keep in mind is that, like other types of insurance coverage, farm insurance is not a one-size-fits-all solution. By working with a Little Falls, MN insurance agent, you can ensure you get the coverage you need for things like livestock, fencing, vineyards, chemical drift, and more.

Do You Have the Right Coverage for Your Farm?

At Hanneken Insurance Agency Inc, we pride ourselves on providing the best farm insurance coverage options to those in central Minnesota. With a history of farming behind us, we can provide unique insight into the coverage you need, tailoring policies to fit your farm. Contact us today to learn more about how we can help you.

Invest in Your Health by Insuring it Today!

Health insurance has been at the forefront of everyone’s minds over the last few years. With so many different coverage options, providers, and terminology, it can be easy to find yourself lost in the weeds when choosing your health insurance. Because of this, it’s not uncommon for individuals to get so overwhelmed by it all that they sign up for whatever plan they can find or even skip health insurance altogether.

At Hanneken Insurance Agency Inc. in Little Falls, MN, we’re looking to change that.

Why You Need Health Insurance

The bottom line is that a health emergency can happen anytime to anyone. It’s no secret that medical expenses can wipe out even the best savings account. A health insurance policy can save you from a significant blow to your finances and remove barriers between you and the care you need. 

What to Consider When Choosing a Policy

When shopping for coverage, there are a few things to keep in mind. Exactly what you are looking for your plan to cover may differ vastly from what someone else values. You’ll want to determine how much you can pay monthly for your premium, what doctors or services you want covered, what your copay will be (if any), and more. An experienced Little Falls, MN insurance agent can help you look at all your options and find the best plan for you.

Find the Right Coverage for You With Help From Hanneken Insurance Agency Inc.

Finding health insurance doesn’t have to be a hassle. With over 30 years behind us, our team will work with you to provide the best insurance options for your family, designed with your needs in mind. Contact us today to learn more about what we can do for you.

The difference between whole and term life policies

Whole life and term life policies are two of the most common types of life insurance at Hanneken Insurance Agency Inc. They provide individuals in the Little Falls, MN area with financial protection in the event of their death. While both types of policies offer coverage for individuals, there are several significant differences between them that you should consider when deciding which is best for you. 

The main difference between whole and term life insurance is the length of time that the policy remains in effect. Whole life insurance covers your entire lifetime, while term life policies only last for a predetermined amount of time (usually 10-30 years). Whole life policies also typically have a fixed premium rate, meaning your payments remain constant throughout the duration of the policy. On the other hand, premiums on term life policies are often lower because they expire after a certain period. 

Another way these two types of policies differ is how they handle cash value accumulation. Whole life policies accumulate cash value over time, meaning you can borrow against it if needed and receive dividends from the insurer if premiums exceed costs. Term life policies do not accumulate any cash value and therefore do not offer this feature to policyholders. 

When deciding between whole and term life insurance, it’s important to consider your budget and long-term financial goals. Both types offer valuable protection but come with different advantages and disadvantages depending on your circumstances. It’s important to speak with an insurance professional who can help guide you in making an informed decision about what type of policy best fits your needs.

For more information, call us at Hanneken Insurance Agency Inc. today. We serve the Little Falls, MN area.