Do I need comprehensive and collision insurance on my car

Drivers in Little Falls, MN must abide by the mandated rules for auto insurance in the state of Minnesota. They require that you carry liability insurance, personal injury coverage, and uninsured /underinsured driver insurance. The liability requirements are bodily injury of $30,000 per person and a total of $60,000 per accident with an additional $10,000 in property damage. Personal injury of $40,000 and $25,000 per person and $50,000 per accident for uninsured/underinsured coverage. Comprehensive and collision coverage is not mandated by law. At Hanneken Insurance Agency Inc. we know the auto insurance requirements but we also know about what you may actually need to have. 

If you have an auto loan, you will need to carry comprehensive and collision insurance, it is required by lenders. If you don’t have a car loan than you don’t have to carry comprehensive and collision insurance but just because it is not required it doesn’t mean that it isn’t a good idea to opt to carry it anyway. 

Collision insurance protects your car in the event that you are the party at fault in an auto accident. Auto repairs are expensive and most people count on their vehicle for transportation to get to work, to get to the grocery store, and for everyday running around. If you can afford to repair your vehicle or if you have an older vehicle with very little cash value then you may not need to carry collision coverage but for most people, it is a good idea. 

Comprehensive insurance covers not collision damage to your vehicle and also theft. The same criteria hold true, if you could pay to repair or replace your vehicle or if it isn’t worth replacing then you don’t need this coverage. 

The experienced team at At Hanneken Insurance Agency Inc. in Little Falls, MN understands auto insurance and is here to help guide you in choosing the correct coverage for your particle situation. Give our office a call for a no-obligation quote. 

Why you need auto insurance in Minnesota

Those that live and work in the Little Falls, MN area likely will need to have a car to get around town. Since having a car is a necessity and a big responsibility, you need to make sure that you have proper insurance in place. There are several reasons why you need to have auto insurance when you are in the state of Minnesota.

Provides Liability Protection

One reason why you need to have auto insurance when you are driving in this area is that it will provide you with liability protection. Drivers that are behind the wheel are constantly taking on the risk that they could cause an accident when driving. If you do cause an accident, it will be up to you to pay restitution for damages that are caused. Liability insurance will give you this protection to ensure you can pay for damages. It is so important that the state also requires that all drivers carry it. 

Protects Your Car

An auto insurance policy will also help by protecting your vehicle. When you are driving your car regularly, the last thing that you will want is to experience a loss due to vehicle damage or theft that you cannot pay for. Fortunately, a full collision and comprehensive policy will ensure you are covered for any situation that causes a loss. 

Owning a car in the Little Falls, MN area is almost always a necessity. Due to this, having auto insurance is a necessity as well. Anyone that is searching for auto insurance in this area should call Hanneken Insurance Agency Inc. when they are looking for a new policy. Hanneken Insurance Agency Inc. will work hard to understand your situation to make sure you get into a great policy based on your situation and needs. 

Benefits of Getting Auto Insurance in Little Falls

Owning and driving a car on a daily basis is a necessity for a lot of people in the Little Falls, MN area. Since your car is such an important asset, you should also make sure that you have it properly covered by insurance. Overall, there are a variety of benefits that will come when you have an auto insurance policy on your car. 

Ensure Your Car is Protected

One reason why you will need to have auto insurance in Minnesota is that it will make sure that your car is protected. While you can be a safe and diligent driver, situations that could cause a loss do occur from time to time. If you have a full auto insurance policy, you will receive coverage for situations including theft, vandalism, and auto accident damage. 

Legal Compliance

Additionally, people in Minnesota will need to have auto insurance to make sure that they are in legal compliance. When you drive in this state, you are going to need to have liability insurance to drive legally. When you have a full auto insurance policy, you will be in compliance with the law and will have the protection that you need in the event you get into an accident. 

There are clearly many reasons why you should make sure that you have good auto insurance in place when you live in the Little Falls, MN area. Since having auto insurance is so important, you should speak with the team at Hanneken Insurance Agency Inc. to discuss your auto insurance needs. When you speak with the professionals at Hanneken Insurance Agency Inc. you will learn a lot more about the auto insurance options that you have available. This will ensure that you get into the right policy that gives you the best coverage possible.

What Does Someone in Little Falls Need to Know About Auto Insurance

Most people in the Little Falls, MN area are very aware that they need to have auto insurance in place at all times. However, the process of researching and picking a policy can be a complicated process. There are several things that you need to know about auto insurance to ensure you get into a great policy. 

Coverage that is Required 

When you are shopping for auto insurance, the first thing that you need to understand is what type of coverage is required for your situation. All drivers in Minnesota will need to have liability insurance at all times. While it may not be required by law, many drivers will also need to have collision and comprehensive insurance if they have a loan out against their car. It is important that you know what your personal requirements are. 

Responsibilities

You should also fully understand your policy and responsibilities when you are shopping for insurance. This can include understanding how your deductible will work. The deductible is the amount of money that you will have to pay out of pocket before you can file a claim. Knowing this information will come in handy if you are ever in an accident. 

It is very important that you choose the right auto insurance policy for your Little Falls, MN car. When you are trying to find the right policy for your current or next car, the best place to turn to is the Hanneken Insurance Agency Inc. When you contact the team at Hanneken Insurance Agency Inc. you will receive the expert advice that you need to get into the best auto insurance policy possible for your situation. This will ensure that you are covered with the right amount and from a good provider. 

What makes car insurance rates go up or down

Life happens, and when it does your car insurance rates could go up as a result. There are things you can do to make them go down as well. The Hanneken Insurance Agency Inc. of  Little Falls, MN can help you sort out your rates, and help you find ways to make your cost lower.

Insurance companies often check your driving record when it is time to renew. If there are speeding tickets or other moving violations, your rates could go up. More serious matters like a DWI will certainly make your rates increase. Minor incidents will go away eventually, but repeated offenses, like repeated speeding tickets, will only make matter worse. Other criminal activity, non-driving related, could also increase your rates.

If you are at fault in an automobile accident, that could also make your rates go up. Filing any kind of claim can increase your rates. Also buying a more expensive car, or a more high-performance car could also make your rates go up. As people get older their rates may go up.  If your credit score declines, or if you move, are also factors.

On the other side, a good driving record can help keep your rates down. If you have teenagers, their rates may go down if they complete a safe driving course. Adding safety features to your car also helps and choosing a car that is not a sports or luxury vehicle will also help. Generally avoiding things that make your rates go up is the best strategy for keeping rates as low as possible.

Call or visit the Hanneken Insurance Agency Inc. today in Little Falls, MN to get the best insurance rates on your car. We are here to answer your questions and help you get the best policy for your situation.

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.

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.  

3 Common Mistakes to Avoid When Buying Auto Insurance for Your Teen

For many parents in Little Falls MN, having a new teen driver in the house can be an exciting, yet stressful event. It’s only natural that you worry about their safety. As the parent of a teen driver, it is your responsibility to teach them how to be responsible and safe drivers. One of the most important things to do to ensure your teen is a responsible driver is to maintain auto insurance on their vehicle. To make sure you get the best coverage for your teen, here are 3 common mistakes to avoid when it comes to insurance for your teen driver.

Carrying a Low Deductible

The deductible is the amount paid before a claim with the insurance company will kick in. In most situations, carrying a higher deductible lowers your premium costs. The rates for teen drivers are generally higher, so having a high deductible also means high savings on the cost of your teen’s auto insurance premium.

Carrying a Policy Separate From Parents

One of the first options you will have when insuring your teen is whether or not to get a policy that is separate from yours. Many parents think that if they purchase a separate policy for their teen, the rates for their vehicles will not go up. While this is partially true, the rate for a teenager’s policy will be significantly higher for several reasons. First, they will have single policy coverage, which means there will not be a discount for multiply cars on the policy and in many situations; you will have to buy a high risk policy. In the long-run, it will cost more to purchase a separate policy than to include your teen on your policy.

Not Taking Advantage of Discounts for Teen Drivers

One of the most costly mistakes to avoid is by not doing your homework. By simply talking with your insurance provider about the discounts your teen may qualify for, you can have a significant amount of savings on the premium. Some of the discounts your teen may qualify for include:

  • Good student discount (for getting good grades)
  • Driving a vehicle with both driver and passenger air bags
  • Automatic seatbelts discount
  • Safe driver (no violations for a specific period of time)
  • Take a driver’s education class

When it’s time to insure your teen’s vehicle, be sure to take your time and compare your options. Talk with your current insurance provider about optional policies. Along with ensuring your teen is properly insured, it is also important to talk with your teen about the rules of road and being a safe driver.

Residents of Little Falls, MN who want to review or upgrade their current insurance policy should contact Hanneken Insurance Agency Inc.

 

Being Cost-Conscious, Minimal Auto Coverage is a Good Idea, Right?

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.

Everything you’ve wanted to Know about Auto Insurance

Did you know that your car comes third in places you spend most of your time after home and office? It is also a significant part of your investment where you spend a lot of money. Most of the money goes to repairs, pump, and maintenance. Auto insurance is vital and a requirement. 

All auto insurance policies are not equal. You need to comprehend the terms, legal requirements in your state and compare various covers. Insurance agents don’t decide the type of auto insurance for you, but rather help you understand some of the jargons you will come across in your quest. Here are some lingoes you need to know:

Premiums 
Premiums are the regular amount of money you pay to keep your coverage active. They are not fixed but vary from one person to another depending on age, driving experience, sex, driving history record and car state or type. Some insurance companies may check your occupation and credit score. 
It is worth noting that the amount of premium is directly related to how coverage you get. High premiums imply great coverage and vice versa.

Collision Coverage 
When you are involved in an accident, and your car is destroyed or damaged, collision coverage policy covers all the costs of repairs or replacement. The crash may be a collision with another car or hitting a stationary object or if an uninsured driver hits your car. 

Comprehensive Coverage 
This misnomer term is misinterpreted by most people to mean complete coverage. However, comprehensive insurance protects you from financial losses resulting from other accidents other than collision. Natural disasters, fire, and theft are some of the perils.

Deductibles
Deductibles are the amount of cash you pay in person in case of car loss or damage before the insurance policy kicks in to meet remaining costs. 

Liability Coverage 
In most states, liability coverage is obligatory. If you cause an accident and injure or damage other people’s property, it is fair to meet resultant expenses.

Do you need auto insurance? Get in touch with Hanneken Insurance serving Minnesota residents.