What Aspects Does Home Insurance Cover? Here’s What You Need to Know

Getting a home is one of the celebrated milestones one can achieve in life. A home is also a place where you go back to after a long day and find calm. For these reasons, you need to protect it as much as you can from unexpected occurrences. The most effective way of doing this is by getting home insurance cover. At Hanneken Insurance Agency Inc., serving Little Falls, MN, we offer home insurance covers. We are ready to take you through our offers and give you sound advice to ensure maximum coverage of your home. 

Below are some of the most common that home insurance covers.

Home Structure Damage

Under this aspect, insurance covers the physical structure of a house against damages. For example, if a roof leak is caused by hail or a storm, the policy may pay for repairs. Some policies also cover damages caused by trees, as long as it’s not out of negligence.

Fire

Standard home insurance offers coverage against fires. Mostly, the covers include rebuilding the structure and replacing the possessions destroyed by the ordeal. Some even offer accommodation coverage during the rebuilding period. 

Plumbing Issues

Some companies cover plumbing issues that don’t arise out of maintenance negligence. Flood insurance may not be offered in a standard policy but may be available at an additional cost. 

Loss Of Personal Property

Some insurance properties offer cover for personal property such as computers, air conditioners, and television sets. They can also cover expensive possessions, including jewelry. Insurance companies usually have a limit on their extent of coverage. That’s why you should read the policy properly before taking it. 

A home is a costly investment that needs to be protected against unforeseen calamities. At Hanneken Insurance Agency Inc. serving Little Falls, MN, we have various home insurance coverages you can choose from, according to your individual needs. Contact us to learn more.

How Often Should I Upgrade My Home Insurance Policy?

When you built or bought your Little Falls, MN home, you purchased home insurance. But since no catastrophe has hit, it’s easy to forget to update your home insurance plan. Reviewing your home insurance helps you avoid a nasty experience when filing a claim. According to Hanneken Insurance Agency Inc., you should at least update your home insurance every year. But if certain situations arise, you shouldn’t wait for a year to lapse because disaster can strike in between.

Why insurance review is important

Home insurance not only gives you peace of mind but also protects what you treasure in case the unexpected occurs. Having sufficient coverage cushions you financially when your valuables are damaged or lost through perils like fire, theft, hail, and many others. Besides, periodic insurance review helps your agent find whether you are eligible for discounts.

When should you upgrade your home insurance plan?

After buying home insurance, it shouldn’t be a “set and forget” purchase. When the below situations arise, you should talk to your insurance agent for a review.

  • You bought new valuables: During the year, you might buy things little by little that can accumulate to a significant value when added together. Leaving these additions out of your home insurance policy is a recipe for disaster when the unthinkable happens. Often, take an inventory count of your valuables from room to room and compare them with your insurance list. Any uncovered valuable item should be insured.
  • Changes in your family size: You got married? Did you become a foster parent? These changes should be reflected in your home insurance to cushion you against liabilities that may arise from your family members. 
  • Significant home improvements: Added an extra room? Remodeled your kitchen? Update your home insurance policy with these significant improvements for optimal coverage.

Are you unsure when you should update your home insurance in Little Falls, MN, and its environs? Please contact Hanneken Insurance Agency Inc. for more information.

An Overview of Home Insurance

When it comes to home insurance, it will behoove you not only to get it but to also ensure you are properly covered. One of the first things you should do to ensure proper coverage is to get educated about home insurance especially for the state you live in. And even though most states have similarities when it comes to home insurance coverage, there are some differences that are imperative to pay attention to. And thus, if you live in the state of Minnesota, it is vital to get an overview of home insurance for this state and consult a reputable insurance agent. 

Types of Home Insurance

There are four basic types of home insurance, including property damage, medical liability, personal liability, and temporary living expenses. These types of home insurance are further divided into several other subtypes. The following includes the description of these types of home insurance: 

Property Damage

This type of insurance covers hail, wind, and fire damage. Also, most policies cover other perils, like explosion, vandalism, and theft. 

Temporary Living Expenses

This typically compensates for living somewhere temporarily if your property/house is unlivable due to severe damage. 

Personal Liability 

This type of coverage covers possible legal expenses from damage to other people’s property or injuries. 

Medical Liability

This type of coverage is for medical expenses for people with injuries received while on your property. 

Determine Proper Coverage

In addition to knowing the basic types of home insurance coverage, it is vital to know what home insurance policies usually do not cover. It is also important to know what can cause your policy from being renewed or canceled and what can affect your rates. Floods and some high-end items are typically not covered on home insurance policies. Also, you should create a home inventory and consult a reputable insurance agent to obtain an adequate home insurance policy for you.

Conclusion

For more information about home insurance in the state of Minnesota, contact Hanneken Insurance Agency Inc. today. Located in Little Falls, MN, Hanneken Insurance Agency Inc. is not only highly trained and licensed, but they also have been providing insurance products to people in Little Falls, MN, and surrounding areas for over 30 years now. They will steer you in the right direction, so contact them today! 

Why You Need Home Insurance For a Home Loan

A common insurance policy that homeowners take in Little Falls, MN, is a homeowner’s insurance policy that protects their personal possessions. If you decide to buy a property through a bonded loan or a mortgage, a financial institution may require you to have homeowner’s insurance before it even considers your application.

Hanneken Insurance Agency Inc. seeks to lighten the burden of homeowners who use loans to buy their dream houses. Mortgage providers face several risks when they lend money to home buyers. One of them is that a borrower may fail to pay the home loan back, leading to foreclosure to recover the loan. It raises the need for banks and borrowers to protect themselves from financial loss.

Another significant risk is that a property can be damaged or destroyed while bonded. In this case, the buyer, you, and your bank are affected. Although the bonded property is damaged extensively, you still have to repay the mortgage. It places a heavy burden on you and hurts your budget, something that you need to avoid.

If you become unable to clear the home loan, your bank may lose in that the property is no longer there to serve as security against the mortgage. For this reason, a homeowner’s insurance policy is essential to protect you and your mortgage provider. The policy provides coverage for the bonded property, not its contents.

If a fire or anything destructive causes severe damage to the bonded property, the homeowner’s insurance should pay for the property loss and repay the home loan, too.

KEY TAKEAWAY

A bonded property faces many risks, including fire, storms, non-repayment, etc., leading to a financial loss to you and your bank or financial provider. A home insurance policy is necessary to protect yourself and the financial institution.

Interested in knowing more about how you can protect yourself when you take a home loan? Contact Hanneken Insurance Agency Inc. today.

How will home insurance protect me?

In the Little Falls, MN area, one of the best long-term decisions that you could make would be to purchase your own home. There are plenty of long-term benefits that come with buying a property. If you do purchase a property, you need to make sure that you get the right insurance. A quality home insurance policy could protect you in several ways. 

Insurance Will Provide Liability Protection

One way that your home insurance will protect you is by providing you with liability protection. If you own a home, there are several liability risks that you should be prepared for. A property owner could be responsible for damages if their home causes damage to another property or if a guest is injured when visiting. Since these situations can be predictable, you should make sure that you get proper insurance protection at all times.

Insurance Offers Property Protection

Another advantage of getting home insurance is that you will receive protection for your dwelling. When you own a property, you will want to ensure that your assets are properly covered at all times. With a home insurance policy, you will get coverage for the assets that you need. This can include providing you with protection for the dwelling and your personal assets. The insurance can cover a variety of situations that could result in a loss including theft, vandalism, or fire damage. 

When you want to get home insurance in the Little Falls, MN area, it is important that you carefully evaluate all of your options. Since this can be a complicated process, you should reach out to the team at Hanneken Insurance Agency Inc. When you do call Hanneken Insurance Agency Inc. the team will be able to provide you with very valuable guidance and support. 

Benefits of Home Insurance in Minnesota

In Minnesota, you are not required to obtain a homeowner’s insurance policy but it sure is a good idea. If you have a mortgage on your home, you will be required by the lender to insure your home so their investment, along with yours, is protected.

Your home will be one of the largest investments you will make in your life so you will want to make sure that you secure the best policy possible to protect your home. Between the harsh Minnesota winters and the potential for hailstorms and wind in the spring and summer, you will want to make sure you have coverage for the actual dwelling of your home.

Dwelling coverage protects the structure of your house, including the roof and walls. This type of coverage will cover your home if it is damaged by a fire, vandalism, or natural disasters, such as a tornado or blizzard.

Personal property coverage will cover the items inside of your home if there is a fire or robbery. This includes items like your furniture, stove, refrigerator, and personal belongings.

Other structures on your property can also be insured, such as barns, garages, and sheds. This can even cover a deck or fencing around your property.

Liability protection will protect you and your property from a potential lawsuit if someone is injured while visiting your home and surrounding property or they suffer property damage while visiting your property.

Guest medical protection will pay the medical bills of a person who claims they were injured while visiting your home and property.

Additional living expenses protection is a nice add-on to obtain in the event your home is destroyed or deemed unlivable after a horrific event such as a fire or tornado. This policy will cover the expense for you to obtain new housing at another location.

To create the best home insurance policy, contact the trust home insurance agents at the Hanneken Insurance Agency Inc. in Little Falls, MN today!

Besides Mortgage Lenders, Who Else Can Require You Carry Home Insurance?

You may know that you’re not legally required to carry home insurance. If your home is paid off, you’re generally free to buy insurance or drop it at your own discretion.

But, there may be instances where other parties insist that you carry insurance. This is generally a contractual obligation. This means that if you were to, say, start a work-from-home franchise in your house, your parent company could require that you carry home insurance, and you would either have to buy insurance or end the working relationship.

On a contractual basis, pretty much anything that is legal can be included in the contract. If a contract says that you need to paint your house pink, then you are obligated to paint your house pink.

These may be far-fetched examples, but here’s what is not far-fetched: Your Homeowners Association will almost certainly insist that you carry some form of home insurance at your own expense.

If you own your home, if your home is situated on private land far away from the governance of the nearest HOA, if you haven’t signed a contract with anyone who has any influence on how you manage your own household, you’re free to do as you like. And you’re free to pay the expenses out of pocket should something happen to your home. So even when you have no legal or contractual obligation to insure your home, you still have an obligation to yourself to do so.

If you’re still shopping around for insurance in Little Falls, MN, get in touch with Hanneken Insurance Agency Inc. Hanneken Insurance Agency Inc. can connect you with the policy you need to protect your own little corner of Little Falls, MN.

What Does Home Insurance Cover?

This broad question about home insurance is certainly a good one, especially for those who are buying their first home. The people of Little Falls, MN have every right to understand how to protect their investments, especially when it comes to their home. Hanneken Insurance Agency Inc. wants you to learn more about what’s covered under home insurance, so you know what you’re getting into before you pick a policy. 

It’s Not Everything 

Many people may think that home insurance covers nearly any type of damage to their property, which is one of the more unfortunate misconceptions about home insurance. One of the most glaring exceptions is flooding from the list of natural disasters that are included under your policy. So while you can likely file a claim if several windows were broken from a bad storm in Little Falls, MN, you won’t be able to file for flooding if you sustained water damage because of the open windows. 

In addition, your possessions may not be covered under certain policies. Some home insurance policies will only cover the structure and the grounds, which means that if you’re robbed under this kind of policy, you won’t be able to file a claim. Finally, home insurance doesn’t cover routine maintenance of the home, only damage under a covered event. 

Getting Answers 

There’s no way an insurance policy can specifically account for every event, which is just one of the reasons why policies can be so confusing. If you’re wondering how to steer yourself toward the right coverage for you, contact Hanneken Insurance Agency Inc. It’s our pleasure to give you a quotes, answer your questions, and provide advice that will make it easier to protect the things that matter most to you. 

How Basement Encapsulation Protects Your Home

Many homes in the Little Falls, MN area are seeing improvements in their home when they choose to have their basement encapsulated. In this process, your basement is laid with a vapor barrier that protects this area from outside elements. All the junctions and seams are sealed, and the area is conditioned with either a dehumidifier or HVAC system to keep the area dry and cool. 

Air Quality Enhancement

With a basement encapsulation on your home, the air quality will improve immensely, since mold and mildew will not be able to build. Many basements that do not have this service suffer from mildew and mold which carry through the home, making air quality diminish. For your family members with allergies, this could help them immensely. 

Become More Energy Efficient

Because the basement has undergone this encapsulation, energy bills are showing to be reduced significantly. Power sources do not have to run at the same speed and consistency prior to the encapsulation because the energy is retained longer. This energy retention allows your home to retain its heat in the cooler months, which saves money on utilities and makes this season that much easier. 

Preservation of Ducts and Equipment

Because the energy is being retained within the home longer and the risk of mildew has diminished drastically, the ducts and heating source equipment will last much longer because they are not exposed to these elements and are placed in a conditioned environment. 

Choose Additional Security with Home Insurance

If you live in or around Little Falls, MN, it may be time to add that extra layer of protection with home insurance. At Hanneken Insurance Agency Inc. you can take advantage of our online rating tool for your personal home insurance quote or call us for more information.

How to Increase Your Home’s Security

At Hanneken Insurance Agency Inc. serving Little Falls, MN., we have seen more home break-ins than we would like to. While there is no way to prevent every break-in, the steps and actions you take can help to increase the security of your home and decrease the odds of your home being a target for thieves. Here are a few tips to help you increase your home’s security. 

Make Sure Your Home is Well Illuminated

One of the best ways to protect yourself against burglaries and break-ins is to ensure your home is well illuminated. Using exterior lights around the outside of your home can help you with this task. Trimming back trees and bushes that provide coverage for an intruder can also help. Thieves prefer to stay hidden, so making sure your space is well lit can be a huge deterrent. 

Utilize an Alarm and/or Cameras

Another way to help increase your home’s security is to utilize an alarm and/or cameras. A thief wants to easily get in and out of your home without being seen or heard. If thieves see that you have an alarm system and/or cameras, they may pass your home up. 

Ensure Valuables Are Not Left in Plain Sight

Finally, be sure to keep valuables out of sight. If a thief can look in through a window and see money, jewelry or expensive electronics, your home may be more of a target compared to a home where thieves cannot see anything. 

Having home insurance is important, as it helps to protect against any losses that you sustain as the result of unexpected events, such as a break-in. If you are in the market for a new home insurance policy in the greater Little Falls, MN area, let Hanneken Insurance Agency Inc. help you. Schedule an appointment with one of our insurance agents today.