What Are Some Common Exclusions In Commercial Insurance Policies?

Most business owners assume that purchasing commercial insurance means their business and property are covered against all risks, which isn’t the case. Some risks aren’t covered, and it’s vital that you are aware of them. As a business owner in Little Falls, MN, the knowledge will enable you to implement best practices to mitigate excluded risks. The standard commercial insurance exclusions are:

1. Catastrophic Events

Risks of catastrophic events such as war and the effects of war aren’t covered under commercial insurance. For instance, if a war breaks out and an explosive damages your commercial property, your business property policy won’t cover the damage. However, you can get specialized commercial coverage for catastrophic events like earthquakes and flooding.

2. Equipment Maintenance Issues and Wear and Tear

Business equipment coverage is a necessity if you are utilizing any equipment in your business operations since it covers it from loss or damage. However, this coverage excludes equipment loss or damage resulting from maintenance issues and wear and tear. This means that risks that can be mitigated with regular maintenance, such as corrosion, rust, and insect infestations on your equipment, won’t be covered. This is why at Hanneken Insurance Agency Inc., we advise our clients to implement outstanding equipment maintenance practices.

3. Risks Against Public Policy

No commercial insurance covers risks against public policy such as violations of the law, crimes, and intentionally caused injuries. Threats against public policy are excluded because providing coverage might encourage people and commercial enterprises to violate the law. Therefore, if a company’s management intentionally commits fraud, commercial insurance won’t offer any coverage.

4. Refunding or Repairing Faulty Products

Most businesses also get product liability coverage, but this only covers bodily injury and property damage resulting from faulty products. It doesn’t cover the cost of refunding or repairing defective products.

Contact Hanneken Insurance Agency Inc. for more info on commercial insurance in Little Falls, MN.

What Are The Different Types Of Life Insurance Policies?

If you seek life insurance in Little Falls, MN, it’s essential to familiarize yourself with the different life policy options available. This will enable you to get life insurance coverage sufficient to protect your family financially in case you die. Here are the basic types of life insurance policies. 

1. Term Life Insurance

Term life policy is arguably the most affordable life policy. It provides coverage for a limited period, typically 5 to 30-year spans. An annual renewable term life policy is usually renewed annually without proof of insurability; however, the premium may increase after every renewal. 

2. Permanent Life Insurance

A permanent life policy offers coverage for your entire lifetime. You will be required to pay premiums for this life policy for as long as you live. It also offers a “cash value” savings element. Under permanent life insurance, there is whole life insurance, universal life insurance, and variable life insurance. At Hanneken Insurance Agency Inc., we recommend you consult an insurance expert to determine which of the three permanent life insurance options best suit you. 

3. Final Expense Insurance

Final expense insurance is a life policy designed to cater only to the end-of-life expenses like funeral and burial costs. You will have to pay premiums for the final expense policy throughout your life, and it has no cash value/investment component. 

4. Group Life Insurance

Group life insurance can only be bought as part of a group, such as via a membership organization or your employee benefits package. This life policy is usually term; in most cases, it doesn’t provide sufficient financial protection to your family. This means that if you have group life insurance, it’s prudent to get additional life insurance life a permanent life policy. 

Contact Hanneken Insurance Agency Inc. for exceptional life insurance offers in Little Falls, MN.

What Are Some Common Discounts Offered By Auto Insurance Companies?

If you plan to get auto insurance in Little Falls, MN, you should know that you might be eligible for discounts on your premiums. These discounts will make your premiums more affordable. Here are some common discounts that we at Hanneken Insurance Agency Inc. believe every auto insurance policyholder should request. 

1. Multi-policy Discounts

You are eligible to receive this discount if you purchase your auto insurance policy and other policies like homeowners insurance and medical insurance from the same insurance provider. The discount can be 5% to 25% if you get your car and home insurance from the same insurer. 

2. Multi-Car Discounts

You can access this discount if you have insured more than one vehicle with the same insurer. The discount can be between 8% and 25%, depending on the number of cars you have insured with the insurance company. 

3. Vehicle Safety Discounts

Insurers offer vehicle safety discounts to car owners with extra safety equipment like airbags, daytime running lights, and anti-lock brakes. While daytime running lights have a small discount, if you have full front-seat airbags, you can get up to 40% discounts applied to your personal injury protection coverage. 

4. Anti-Theft Device Discounts

You are eligible for this auto insurance discount if your vehicle has anti-theft features like stolen vehicle recovery systems, VIN etching, and GPS-based systems. This discount will be around 5% to 25% and will be applied to your comprehensive coverage. 

5. Good Driver Discounts

Car insurance providers offer discounts to good drivers with an incident-free driving history. Your clean driving history can give you a 10% to 40% discount. 

Do You Require Auto Insurance in Little Falls, MN? 

At Hanneken Insurance Agency Inc., we are a top-notch auto insurance provider serving the Little Falls community. Call us today.

What every new homeowner should know about home insurance

For new homeowners, there are many concerns. Owning a home is a lot more than just paying a mortgage. It would be best if you protected your home and yourself from some of the perils that can happen. That is what home insurance covers, but most new homeowners aren’t experts at home insurance and may not know some important things about it. In Little Falls, MN, you can count on Hanneken Insurance Agency Inc. to provide the expert service you need to make the right decision. 

You can choose your deductible.

The amount of deductible you choose does affect your rate. The higher the deductible, the lower your rate. But if you have trouble coming up with the money for a higher deductible, stick with a typical $500 or $1000. 

Your mortgage holder requires home insurance.

If you have a mortgage, you will need to have home insurance. If you don’t get it, your lender will, and it may not be the best rate or the best policy. It is advisable for you to choose your policy and to make sure you maintain it for the life of your loan. 

You have content choices.

Regarding covering your content, the total amount will be a percentage of your property coverage. Do you want to replace everything you own? Maybe not. You can choose to replace it at the current value. The other option is to replace it at the cost today. Some categories have limits, you may need to add a rider. 

Your policy has exclusions.

Not everything is covered. Read your policy carefully. Most policies exclude floods, owner neglect, termites, mold, earth movement, sewer backup, war, and nuclear accidents. 

Contact Hanneken Insurance Agency Inc. in Little Falls, MN when you need to get home insurance for your new home. 

What Kinds Of Things Are Covered By Health Insurance?

Health insurance covers a range of services, from prescription drugs to preventative care. It may also cover specific surgery or other procedures, such as x-rays or blood tests. The insurance may also cover some types of therapy or medication and may provide coverage for certain covered expenses such as certain drugs, laboratory tests, and surgeries. 

It is important to note that while most health insurance plans cover a range of expenses, such as doctor visits and prescription drugs, they do not cover everything. The insurance caters to treatments, screenings, and costs associated with certain medical conditions. There are several different types of health insurance, but the most common ones are medical, pharmacy, and travel. 

Reimbursement Policies 

Some companies do not offer health insurance, so you may want to ensure you have the right benefits before you start work. Others provide a certain level of coverage, but only if you have a doctor or other healthcare provider listed on your health plan. Some offer a wide range of plans to choose the one right for you. Some will only pay for treatment.

Employers are required by law or policy to cover all employees. The requirement does not vary based on an employee’s age, but it does increase with age (and level of responsibility) in the employer’s brand. Many employers require health insurance as a condition of employment, but others choose to offer it as an option. 

Bottomline

Health insurance is a product that protects medical expenses. It can cover routine visits to the doctor, medication, and tests. The most important thing is to talk to a trusted professional and get the help you need when it comes to mental health. Contact Hanneken Insurance Agency Inc. in Little Falls, MN for more information on the insurance coverage.

What Does Farm Insurance Cover?

Farm insurance protects against the financial loss of crops and livestock due to natural disasters such as severe storms and floods. Most insurance contracts cover these types of damage at no additional cost to the farmer, while some provide additional coverage specific to farm animals. Some insurance firms provide additional coverage specific to farm animals for the equipment and building, while others are solely for repairing damaged property. 

When is farm insurance required? 

Farm insurance is required by law in most U.S. states and foreign countries. However, some states do not require farm insurance. Many farmers do not require this cover because their land is not considered at risk of crop failure. However, if you operate a large farm, you may want to consider getting farm insurance to protect your assets should something happen to your farm. In addition to coverages like crop damage, farm insurance provides protection against other risks such as theft, fire, storm, and animals. You can learn from Hanneken Insurance Agency Inc., which serves Little Falls, MN. 

Farm insurance is essential whether you own a homestead or lease a farm. It may be necessary if you are considering buying a farm or selling your farm. Farm insurance can protect you against various risks such as hail, storm, flooding, wind, hail, or water damage on your farm. Farm insurance is also necessary if you breed livestock or grow crops on your farm. Even if you are not actively involved in farming, getting farm insurance is still a good idea. 

Bottomline 

Farm insurance can be expensive, but it is worth it because it protects your livelihood. Be sure to research farm insurance coverages before you buy a policy. Farm-related losses are common in agricultural and livestock-based industries. For example, crops are destroyed by bad weather, diseases kill livestock, and natural calamities like floods or storms destroy equipment. To protect your farmland and livestock from these losses, you need to purchase farm insurance. You can get this coverage from a farm insurer or your farmer’s insurance program. Keep in mind that the two types of insurance have different coverage limits. For example, a farm insurance policy may have a higher limit than a homeowner’s insurance policy. For help, reach out to Hanneken Insurance Agency Inc. in Little Falls, MN.

How farm insurance can help protect your family farm

The Little Falls, MN agricultural community can rely on Hanneken Insurance Agency Inc. for their family farm insurance needs. If you want to make sure that your farm has the protection it needs, call us today and set up an appointment. Our team is experienced and knowledgeable and can help you get the protection you need.

Protect your family farm today

We understand that finding the right policy to protect your family farm can be challenging. Underwriting a family farm or agricultural business requires a different approach than most properties receive. If you don’t feel like your insurance provider is giving you the protection you need at a fair price, we can help. 

We work with several different insurance providers who understand the nuances of underwriting farm insurance. We know that you need protection for:

  • Livestock
  • Farm equipment
  • Worker’s compensation
  • Crop protection
  • Liability coverage

Yes, a family farm is a business, but its insurance needs vary greatly from most other commercial enterprises. If you want to learn more about farm insurance benefits, it’s time to sit down with a local agent. 

Farming is hard work, and your dedication and hard work need to be protected. Having the right farm policy can make the difference between going under due to a catastrophe and passing the family farm down to the next generation.

We look forward to working with you!

The folks here at Hanneken Insurance Agency Inc. are proud to work with the greater Little Falls, MN community. If you want to make sure that your family farm has the protection it needs, call us today! We look forward to working with you.

Will a catastrophic care policy meet your health insurance needs?

Do you live in the greater Little Falls, MN area? If you are a long-time resident or have recently moved to the area, we look forward to working with you! We are here to serve our community and provide the insurance coverage you need to protect yourself and your family. You can rely on Hanneken Insurance Agency Inc. for all your insurance needs! Call or stop by today.

The challenge of finding affordable health insurance

High deductible care can be a good option for healthy folks looking to keep their insurance costs within their budget. This type of insurance, often referred to as catastrophic care, can be a good fit for many people. If you only see your doctor for your annual check-up, a catastrophic care plan may be right. Some of the benefits of this type of policy include:

  • Free annual check-ups and some preventive care
  • Coverage for hospitalization
  • Low monthly premiums

For example, if you only go to the doctor once a year and do not take any prescription medications, your health care needs are considered minimal. With preventive care and hospitalization stays covered, you will have the medical insurance protection that you need. If you have a medical emergency, you will have health coverage. But, you will also enjoy lower premiums each month. 

Find out more today!

The Hanneken Insurance Agency Inc. team is here to help residents in the greater Little Falls, MN area with all of their insurance needs. This also includes health insurance. If you’d like some guidance when it comes to navigating the process of finding the right health insurance, we can help. Give us a call or stop by the office today!

What Doesn’t Home Insurance Cover?

Homeowner’s insurance is meant to protect your home if something happens to it. It can also protect your possessions and all of the things that you love so much. It will also cover medical bills if someone gets hurt while they are at your home. 

That being said, it doesn’t cover everything. Here are some things that standard homeowner insurance typically won’t cover. 

Earthquake damage isn’t typically covered. If you live in an area where earthquakes are common, you may want to add additional insurance to your policy. 

It also won’t cover floods. Flood damage can be quite costly, so you may want to add flood insurance to your policy, especially if you live in a flood zone. 

Your homeowners’ insurance may also not cover any water damage. This may include any problems that you may have with your septic system. 

It also won’t cover any problems that occur because you aren’t taking care of your home. If you don’t maintain your home, your damage may not be covered. Many plans don’t cover rust and mold damage, as well as general wear and tear that happens to a home over the years. 

Though your insurance should cover damage to your home, it probably won’t cover damage due to earthquakes or flooding. Because of this, you may want to add additional coverage, just in case. You also need to take care of your home. If you don’t, your insurance might not cover the repairs! 

If you want to make sure that you have enough coverage on your home, don’t hesitate to contact us today at Hanneken Insurance Agency Inc. in Little Falls, MN. 

Does your car have the protection it needs on and off the road?

If you are living in the wider Little Falls, MN area, it’s time to get to know the Hanneken Insurance Agency Inc. We are here to help our friends and neighbors with all of their insurance needs. We want you to have the protection you need!

Protecting your vehicle on and off the road

Collision insurance is very important, as is liability protection. But does your current auto policy also provide the protection you need when your car is off the road? Protection from theft and vandalism or other damage that can occur while your car is parked is also important. 

For example, if your car is parked under a tree and is damaged by a falling branch, will your auto policy provide coverage for the incident? There are innumerable types of situations where your car can be damaged when you aren’t even driving it. Unfortunately, not all auto policies provide coverage for all types of damage.

In order to have the protection you need, on and off the road, you may want to opt for a more comprehensive policy. While a basic policy can give you a small layer of protection, it may have you paying out of pocket more often than you would like. This makes it a perfect time to take the opportunity to review your current policy and the benefits it provides. 

It may be time to upgrade your auto policy!

Give us a call today!

Little Falls, MN area residents can rely on Hanneken Insurance Agency Inc. for all of their insurance needs. If you would like to learn more about the many features and benefits that today’s auto insurance policies provide, give us a call or stop by our office today!