Beyond the Basics: Additional Home Insurance Coverages You Didn’t Know You Needed

If you are a property owner in the Little Falls, MN area, you likely know that it is vital to have home insurance. While you likely know that you will need property and liability coverage, there are many other options to consider as well. There are various additional types of home insurance coverage you should consider. 

Water Backup Coverage

One of the more challenging situations you may have to deal with in your home is if the sewer line backs up or a flood causes water to get into your basement. Not only is this stressful and hard to clean up, but you may not have coverage through your standard home insurance plan. In these situations, water backup coverage provision can be quite helpful as it will cover the costs needed to repair and remediate.

Service Line Coverage

Depending on where you live, you may have electricity or gas lines coming into your property. It is generally up to the property owner to keep these lines protected and secure. Unfortunately, due to mistakes of a property owner or a contractor, these lines could be severed or damaged in some situations. Home insurance will often not cover the costs to remediate it, but an additional service line coverage plan will offer the support you need.

When you are ready to start looking for home insurance in the Little Falls, MN area, it is essential that you carefully assess all of your options. A great way to start the process is by calling our team of insurance professionals with Hanneken Insurance Agency Inc. Our team at Hanneken Insurance Agency Inc. knows the value of this coverage and can offer any support you need to build a new plan that includes all necessary forms of coverage. 

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.

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.

How to Cover Common Gaps in Home Insurance

As a homeowner in Little Falls, MN, you have a lot to appreciate. At the same time, your home comes with several responsibilities. If you want to protect your home and ensure it’s covered in the case of the worst scenarios, then you need good home insurance. You likely already have some coverage, but it’s important to recognize common gaps in insurance coverage and how to deal with them. Hanneken Insurance Agency Inc. has a few tips to help with that.

Floods

Notoriously, floods are not covered by standard home insurance policies. If you live somewhere with significant flood risk, you might be eligible for the National Flood Insurance Program (NFIP), which FEMA manages. Otherwise, you can add a flood policy to your insurance bundle. Do you need flood insurance in Little Falls? That depends on a few things, but you can get coverage that insures you against busted water pipes and other issues that are universal.

Valuables

Your personal belongings and valuables are often not covered by home policies either. Generally, a home policy will insure a fixed amount for all of your belongings, and in the case of catastrophic damage, that set amount is the payout. If you have jewelry or other valuables of note, you want to add coverage.

Some insurers will allow you to add valuables coverage to the home policy. Others will separate that coverage into an additional policy, but you can check for bundled rates to save money.

Liability

Home insurance comes with some liability coverage, but if you run a business from your home or have a lot to lose, that coverage might not be sufficient. You can add business liability insurance (if you’re running a business) or umbrella insurance to make up the difference. This ensures that you have sufficient coverage in the case of a legal contest.

There are plenty of different ways to construct policies that protect your home in Little Falls, MN. The easiest solution is to talk to Hanneken Insurance Agency Inc. and get professional help perfecting your coverage.

Preparing for Blizzards

In 1991, Minnesota experienced the most catastrophic blizzard in its history, dubbed the Halloween Blizzard. The storm began on October 31st and raged for four days, ending on November 3rd. It dumped about two and a half feet of snow on MSP and more than three feet of snow on Duluth. Roads closed, and people became trapped in their homes.

Although that marks the worst blizzard in Minnesota’s history, every winter promises at least one major snow event, and proper preparation can prevent damage to your home and person. Hanneken Insurance Agency Inc. can explain how to prepare your Little Falls, MN home for heavy snow.

Prepare an Emergency Kit

Purchase a ready-made emergency kit from a local hardware or home improvement store. These kits provide a first aid kit, emergency blanket, a few meals-ready-to-eat (MREs), a flashlight, and batteries, and may include emergency flares.

Add to this kit your own medications and those of family members, plus added canned food and water.

Get Ready for Power Outages

Have on hand a few high-powered flashlights with rechargeable batteries or fresh batteries. Purchase a backup generator to keep the heat going while a storm continues. While most homes in Minnesota feature buck stoves or fireplaces, those heat sources can’t battle a four-day blizzard alone.

Small generators that can provide about 1200 watts of power cost less than $500. These devices come in solar, gas, and propane versions. Keep it outside; the gas and propane versions require an individual to replenish their fuel every few hours. You can keep the solar-type indoors and let its solar panels recharge by placing them in the window. The panels may sit on the roof with a permanently installed solar backup.

Contact Us

Let us help you protect your Little Falls, MN home. Contact Hanneken Insurance Agency Inc. for home insurance, so you can repair your home after the blizzard without spending too much of your own money.

Tips for preparing your home for an emergency

Minnesota is an area where emergencies are not unknown. The weather can be unpredictable and between winter storms, tornados, and flooding, being prepared for an emergency is something that everyone needs to be aware of. In Little Falls, MN, residents count on Hanneken Insurance Agency Inc. to have the products they need along with personal and friendly service. 

Losing your power is a normal part of most emergency conditions. When you don’t have power, that can affect your heating and cooling. It can also mean you have no water or sewer. Not to mention lights and power to run your appliances. A generator can provide the power you need. Generators run on gasoline or propane and, depending on the type and size, can run your entire home or can, at the very least, keep you warm and your food cold. 

Depending on the emergency, you should have plenty of bottled water. Many different types of emergencies can result in public water contamination. You also should have water to flush the toilet. This usually means filling the bathtub with water. 

If you have a propane grill, you have a way to cook. Having a propane camp stove can also be a blessing. Make sure you have canned and packaged food that doesn’t require refrigeration. 

Battery-operated lanterns can provide lighting, and candles add atmosphere, but they are also a fire hazard. LED lighting doesn’t require many small lanterns to keep your home lit and bright. Having a charging device like a Halo, you can keep your electronics charged, and the Halo can be recharged in your vehicle if needed. Once your cellphone, laptop, or tablet is charged, you can keep up to date on what is happening with repairs in the area. 

In Little Falls, MN, contact Hanneken Insurance Agency Inc. to get a no-obligation quote for your home insurance. 

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 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. 

Types of Homeowners’ Insurance

It can be very confusing when shopping around for homeowner’s insurance. You want to make sure that your home is protected, since it is the most expensive thing that you will ever own. 

So, what types of coverage is available with your homeowner’s policy. 

Coverage A covers the dwelling. This means that it will cover any damage that occurs to your home. It also covers any attached garages and fencing that is on your property. 

Coverage B is for other structures. This will pay for any damage to other structures on your property, like your garage and pool. 

Coverage C is for your personal property. This includes most things that you have in your home, such as your furniture and clothing. You will be covered if theft occurs and certain items are stolen. That being said, if you own things that are more expensive than most, you may want to look into getting some extra coverage. 

Coverage D covers loss of use. This will cover any costs for you to stay in a hotel or somewhere else if your home needs major renovations. 

Coverage E is for liability. This will protect you and your family if someone gets injured on your property. It will cover your legal expenses if you end up getting sued. 

Coverage F is for medical payments. Medical payments will cover the medical bills of anyone who is injured on your property. 

Since it can be confusing when it comes to buying homeowners insurance, you are going to want to talk to a professional about your options. You may need more insurance in some areas, depending on what you do in your home. 

To make sure that you are fully protected, contact us today at Hanneken Insurance Agency Inc. in Little Falls, MN. 

What’s the Best Home Insurance Policy for My MN Home?

For residents of Little Falls, MN, there may not be a more important investment in your life than your home. The team at Hanneken Insurance Agency Inc. specializes in auto and home insurance, and they hold home insurance in high regard as one of the best ways to protect your life’s most crucial and valuable assets. 

Home insurance can be confusing, there’s no doubt about that. It’s important to work with an agent or team you can trust, who understands your lifestyle and needs and that makes educated and experienced recommendations for you and your family. 

To put it simply, you want your insurance coverage to be enough to rebuild your home exactly as it is today. Whether you’re affected by a fire or other natural disaster, dangerous weather, theft, or vandalism… the point of insurance is to protect you from these scenarios. We recommend making an inventory list of the valuables and other items in your home that are unique or expensive. It’s important to know the value of everything inside the home. 

With that comes more options. You can maintain basic liability coverage that protects you should another person become injured on your property. You can select coverage that protects the belongings inside the home, your personal property. This is an important choice for many families in Little Falls, MN – you can’t put a price on the valuables you’ve collected over the years, from jewelry and artwork, firearms, and more. Home insurance can protect those items you hold near to your heart. 

Hanneken Insurance Agency Inc. is here to help Minnesota residents to find the best home insurance policy. Contact us today and we’ll work with you to find exactly what you’re looking for.