Folks in Little Falls, MN who are really watching their dollars can be forgiven for being a bit reactive to costs. After all, if there is a way to squeeze a bit more out of an expense, it should be a followup. However, in the world of auto insurance, cheapest is not always best. In fact, it works the opposite. A low-cost policy more often than not means low coverage, and that could be a big financial mistake overall. The problem has to do with liability. Just because one has a low-cost policy doesn’t mean that liability goes away and gets taken care of entirely by an insurance provider. Where a party is responsible for an accident and his policy doesn’t cover all the costs of recovery, the party can still personally be held responsible for the outstanding difference. And that can translate into wage garnishments, liens and more ugly tools of the collection after a judgment is awarded in a Little Falls, MN court.
No surprise then, a more comprehensive policy that provides greater coverage overall actually can save a person money if liability is found and has to be addressed, according to Hanneken Insurance Agency, Inc. A larger policy may cost a bit more in premium, but if it fully addresses the costs of a recovery, than it actually helped a party avoid more out of pocket expenses from auto accident risk. To find out more about how comprehensive insurance helps solve accident problems better, given the expert staff at Hanneken Insurance Agency, Inc. a call. They can walk you through examples, showing why just focusing on cost isn’t the best approach overall with auto insurance.
Many people are beginning to enjoy back-to-nature lifestyles by buying several acres out in the country near Little Falls, MN and raising animals and garden produce. But, what kind of insurance does a farm need? When does a hobby farm become a "real farm"? What happens if your horse gets out and someone is injured? These tips from Hanneken Insurance Agency, Inc. can help you with these questions.
Homeowners or a Farm Policy?
For some hobby farms, like those with just a pony and a few chickens, homeowner’s insurance will probably cover your needs. If your hobby farm is simply something fun that you like to do on the weekends and evenings, or you just like raising food to feed your family, you probably don’t need anything more than a homeowner’s policy. Keep in mind, though, that homeowner’s policies may not cover expensive improvements like large barns or expensive equipment. If your hobby farm begins to turn into a more extensive operation, it may be time to call the insurance company and adjust your coverage.
Are You Making Money?
If you’re a full-time farmer, then you definitely need a farm policy. But, there is a gray area where you’re still a farmer, but not necessarily in need of a farm policy. Some insurance companies offer hobby farm policies for those who may sell produce at farmer’s markets or offer baby chicks for sale a few times a year. These policies are generally for people who just use their farm to make small amounts of money to supplement their off-the-farm income.
Farm Liability Insurance
Many of a farmer’s daily jobs come with an element of risk. Driving large, powerful tractors and handling animals that weigh a thousand pounds or more are a part of daily life for many who live on farms. Most farmers know the risks and work carefully, but when other non-farm people are exposed to these experiences, terrible things can happen. A farm liability policy will protect you from a lawsuit if someone is injured on your farm. Even trespassers may try to sue if they are injured on your property, so a liability policy can help you rest more easily at night.
If you have questions about farm policies in the Little Falls, MN area, contact Hanneken Insurance Agency, Inc.