Invest in Your Health by Insuring it Today!

Health insurance has been at the forefront of everyone’s minds over the last few years. With so many different coverage options, providers, and terminology, it can be easy to find yourself lost in the weeds when choosing your health insurance. Because of this, it’s not uncommon for individuals to get so overwhelmed by it all that they sign up for whatever plan they can find or even skip health insurance altogether.

At Hanneken Insurance Agency Inc. in Little Falls, MN, we’re looking to change that.

Why You Need Health Insurance

The bottom line is that a health emergency can happen anytime to anyone. It’s no secret that medical expenses can wipe out even the best savings account. A health insurance policy can save you from a significant blow to your finances and remove barriers between you and the care you need. 

What to Consider When Choosing a Policy

When shopping for coverage, there are a few things to keep in mind. Exactly what you are looking for your plan to cover may differ vastly from what someone else values. You’ll want to determine how much you can pay monthly for your premium, what doctors or services you want covered, what your copay will be (if any), and more. An experienced Little Falls, MN insurance agent can help you look at all your options and find the best plan for you.

Find the Right Coverage for You With Help From Hanneken Insurance Agency Inc.

Finding health insurance doesn’t have to be a hassle. With over 30 years behind us, our team will work with you to provide the best insurance options for your family, designed with your needs in mind. Contact us today to learn more about what we can do for you.

The difference between whole and term life policies

Whole life and term life policies are two of the most common types of life insurance at Hanneken Insurance Agency Inc. They provide individuals in the Little Falls, MN area with financial protection in the event of their death. While both types of policies offer coverage for individuals, there are several significant differences between them that you should consider when deciding which is best for you. 

The main difference between whole and term life insurance is the length of time that the policy remains in effect. Whole life insurance covers your entire lifetime, while term life policies only last for a predetermined amount of time (usually 10-30 years). Whole life policies also typically have a fixed premium rate, meaning your payments remain constant throughout the duration of the policy. On the other hand, premiums on term life policies are often lower because they expire after a certain period. 

Another way these two types of policies differ is how they handle cash value accumulation. Whole life policies accumulate cash value over time, meaning you can borrow against it if needed and receive dividends from the insurer if premiums exceed costs. Term life policies do not accumulate any cash value and therefore do not offer this feature to policyholders. 

When deciding between whole and term life insurance, it’s important to consider your budget and long-term financial goals. Both types offer valuable protection but come with different advantages and disadvantages depending on your circumstances. It’s important to speak with an insurance professional who can help guide you in making an informed decision about what type of policy best fits your needs.

For more information, call us at Hanneken Insurance Agency Inc. today. We serve the Little Falls, MN area.

Benefits of Business Interruption Insurance

Unexpected road construction, natural disasters, and pandemics can interrupt your business, forcing you to close your shop. How can you protect your assets, pay your overhead costs, and preserve your company? Business interruption (BI) insurance protects your business against financial disaster due to events listed in the policy. Ask your insurance agent at Hanneken Insurance Agency Inc. how you can use this coverage to stay afloat when a covered event causes physical damage to your property in Little Falls, MN.

Pay for Fixed Expenses

If you have to open up at a temporary location while you make repairs, some of the costs incurred may be covered by business interruption insurance. This gives you time to restore and pay fixed expenses without draining your bank account. Many policies also reimburse you for lost revenue due to a business interruption. Typically, this policy is bundled with other coverage, including liability and property damage insurance.

General Liability

This coverage protects your business from liability claims such as property damage, bodily injury, slander, and libel. For example, this coverage would handle the medical expenses if someone is hurt on your commercial property. In other cases, it may handle legal fees if someone sues the business.

Commercial Property

Business property insurance protects the building and items such as furniture, inventory, and equipment. It may help you pay for replacement costs in case of a lightning strike or fire. It covers the physical structure and items inside the business location. Civil commotion and vandalism are usually covered by commercial property insurance.

Business Interruption

Business interruption works in conjunction with commercial property and general liability to provide complete coverage for your business. BI handles income loss if you have to close your doors while making repairs. It also can cover relocation costs, lease payments, taxes, employee wages, and loan payments, where applicable and covered by your individual policy. It doesn’t usually cover losses due to earthquakes, flooding, or other events requiring separate peril insurance.

Contact an Experienced Insurance Agency in Little Falls, MN

Hanneken Insurance Agency Inc. has knowledgeable agents that can guide you through the different types of insurance needed to protect your business. Reach out to our team today to discuss your business interruption insurance needs.

Health Insurance Pays For Your Medical Visits – Don’t Be Without It

Everyone must have health insurance to pay for their medical care. The Hanneken Insurance Agency Inc., serving Little Falls, MN, and the surrounding area, can provide this vital coverage.

Why is it so important? Health insurance offers protection from high, unexpected medical expenses. No one plans to get hurt or sick, but all people need medical care at some point. Health insurance will cover these costs, plus offers other important benefits.

  • Health insurance covers essential health benefits for preserving your health and treating accidents or illnesses.
  • You pay less for those services in the network before meeting your deductible.
  • Health insurance protects you from rising medical costs.
  • Health insurance provides free preventive care, such as vaccines, screenings, and check-ups, before meeting your deductible.

This coverage provides important financial protection if you have a severe illness or are in an accident. Without it, all costs resulting from an event would need to be paid out-of-pocket by you. This can result in people going deep into debt or possibly facing bankruptcy.

Consider this:

  • A broken leg can cost up to $7500 to fix.
  • The average 3-day hospital stay can cost approximately $30,000.
  • Comprehensive cancer treatment can run into thousands of dollars.

Having health insurance will protect you from these costs in three ways:

  • Reduced costs after you meet the deductible. For example, if your plan has a $1,000 deductible, the policyholder pays the first $1,000 in covered services. Then the plan will pay between 60% and 90% of covered costs, depending on your plan. You will pay between 10% and 40% of the expenses through coinsurance or copayments.
  • The out-of-pocket maximum is the total amount you pay, no matter how much care you receive in the plan year.
  • There are no yearly or lifetime limits for essential health benefits.

If you are in need of health insurance, contact the Hanneken Insurance Agency Inc. to receive a no-obligation quote or answers to any questions you may have.

The Single Most Important Way to Keep Farm Workers Safe in Central Minnesota

Farming is one of the most dangerous professions in the USA today.

Farmers are twice as likely to die on the job as police officers. They are five times more likely to die on the job than firefighters. They are 73 times more likely to suffer a job-related injury than bankers. And the single biggest hazard on farms in central Minnesota is grain bin accidents.

During harvest time, farm workers work fast. They recognize that failing to get the crop in the bin in time can result in huge losses, especially when winter comes early. Conscientious farm workers sacrifice their breaks and forget safety procedures, sometimes with tragic results. 

Since 1975, there have been 900 cases of grain engulfment in the United States, 558 of them resulting in a fatality. The average age of workers trapped in grain bins is 22. Sadly, this kind of accident is almost entirely preventable. Here’s what Hanneken Insurance Agency Inc. in Little Falls, MN recommends to prevent it.

  • Ensure no one is working on top of the grain before activating the auger at the bottom of the bin. The auger can create a vacuum from which it is impossible to escape.
  • When grain stinks, stay away from it. Spoiled grain releases foul-smelling gasses. These gasses can accumulate just beneath what appears to be a solid surface. Never step into a grain bin if the grain smells terrible.
  • Take care when cleaning the inside of a silo. Loosening spoiled grain can trigger an avalanche of spoiled and fresh grain on workers below.

Take time to be safe! Make sure no worker enters a grain bin without a permit. Make sure every worker—as well as the owner—wears a safety harness before working on top of the grain. Turn off and lock the controls of the auger before entering the bin. Test for toxic gasses. Never walk down grain.

Hanneken Insurance Agency Inc. in Little Falls, MN represents over 60 insurance companies. We help farmers find the coverage they need at an affordable price. Email an agent for more information today!

How to Protect Multiple Businesses with Commercial Insurance Policies

As a business owner, you know how important it is to protect your assets. But what if you own more than one business? Can you cover all of them with a single commercial insurance policy? The answer is yes! In this blog post, Hanneken Insurance Agency Inc. explores ways to use a commercial insurance policy to protect multiple businesses in Little Falls, MN. 

What Does a Commercial Insurance Policy Cover? 

A commercial insurance policy typically covers property damage, liability claims, and other losses related to your business operations. It also provides coverage for employee injuries and illnesses and legal expenses in case you are sued. Some policies may even protect against cyber-attacks and data breaches. Make sure to read through your policy carefully to understand exactly what is covered and what isn’t.  

How Much Does It Cost to Protect Multiple Businesses? 

The cost of protecting multiple businesses with a single commercial insurance policy depends on the type of coverage you choose and the size of your business. Generally speaking, larger companies will pay higher premiums than smaller ones because they tend to face greater risks due to their increased presence in the market. However, certain discounts are available for companies that purchase multiple policies at once or bundle their policies together for further savings.  

Whether you own one business or many, having adequate commercial insurance coverage is essential for protecting yourself from potential losses due to property damage, liability claims, cyber-attacks, and other risks associated with running a business in Little Falls, MN. To get started on finding the right coverage for your needs at an affordable price, contact Hanneken Insurance Agency Inc. today.

What types of life insurance are available in Minnesota?

In the Little Falls, MN area, you will want the proper insurance to protect your assets and provide other forms of protection. Life insurance is a critical form of insurance everyone here will need. When looking for this coverage, you will find different options. Two of the most common are term and whole life insurance.

Term Coverage

A popular form of life insurance for many people here is term life insurance. When you have a term life plan, it offers you life insurance for a defined period. This term and policy limit can be customized based on your needs. An added benefit of this coverage is that it tends to have more affordable premiums, so you can afford to pay for more coverage than you would with other types of insurance.

Permanent Life Coverage

A permanent or whole life insurance plan is another excellent option. With this type of insurance, you can have coverage for as long as you want, as there is no set end to the policy. Further, it is an excellent addition to your investment plan. Each month, a portion of your payment will go into an investment account that can grow at a conservative rate of return. However, monthly premiums tend to be more expensive.

It is vital that people in the Little Falls, MN area spend the time they need to assess all of their insurance options carefully. When you want to start looking at your coverage options, calling Hanneken Insurance Agency Inc. is a good idea. There are many choices to make when evaluating options, and Hanneken Insurance Agency Inc. can give any guidance necessary to build your next plan. 

Do You Farm? Protect Your Livelihood with Farm Insurance

If you make your living by farming, make sure it is protected. Farm insurance provides liability protection for bodily injury, medical expenses, and property damage like home insurance. The Hanneken Insurance Agency Inc. provides the insurance needs of those in and around Little Falls, MN.

Farm insurance is a hybrid form of coverage for commercial and personal protection. Farm insurance covers personal property related directly to the farming operation. The three categories of coverage are:

  • Farm equipment and machinery
  • Livestock
  • Farming products such as seed, silage, fertilizers, pesticides, and animal feed

In addition to the liability protection it offers, it will pay legal fees if you are sued for any injury or damage that is farm related. This is important if you have people employed to work on your farm.

The difference between homeowners insurance and farm insurance is that farm insurance is designed to provide wider coverage for outbuildings, such as barns, equipment, and vehicles used for farm operations.

Like a standard homeowners policy, farm insurance will cover your home and possessions and provide personal liability coverage. But it also provides coverage for livestock and machinery but does not provide coverage for your crops.

Farm insurance is a highly customized policy. You start with basic coverage, then add additional options based on your business and home needs. Because each farm is unique, it is not unusual for an agent to visit the farm to ensure the property is adequately covered.

To ensure your livelihood is protected from loss, contact Hanneken Insurance Agency Inc. insurance professionals to meet with one of their experts. Don’t allow your means of income to be put at risk. You will be glad you did.

Protect Yourself with Health Insurance

Do you think you are too young for health insurance?

You feel you have always been healthy, so there is no need for protection? This is incorrect thinking. If you live in or around Little Falls, MN, the Hanneken Insurance Agency Inc. can explain why health insurance is important.

Accidents or illnesses can occur to anyone at any time or age. Traffic accidents often involve young people. Sports injuries that can cripple a young man for life also happen. Don’t let an illness, injury, or accident dictate your financial future.

Did you know the cost of a broken leg can be as high as $20,000? Major surgery can destroy the finances of a family without health insurance. Why not allow the expenses of a catastrophic event to be shared by a health insurance provider?

Health insurance protects you from paying high out-of-pocket costs if an illness, injury, or accident befalls you. An ambulance and hospital bills on top of that can quickly add up to thousands of dollars. Four out of ten Americans cannot cover an unexpected $1000 medical bill. Therefore, it becomes a huge, almost insurmountable burden without the help you can receive from health insurance.

Here are some additional reasons why health insurance is necessary.

  • Our changing lifestyles have made us more prone to various health conditions. Commuting, unhealthy diets, hectic work schedules, poor food quality, and rising pollution put us at risk of developing health problems.
  • Coverage for pre- and post-hospitalization expenses are covered. The outpatient expenses, such as diagnostic testing, have also risen. No need to pay these costs out of pocket. Let health insurance handle the payment.
  • Preventive care is probably the best reason to purchase health insurance. Most companies will provide a yearly exam at little or no cost to the patient. This care prevents or catches an illness by early detection.

Don’t be caught without health insurance! It’s good for the entire family. Let Hanneken Insurance Agency Inc. provide a quote to get you started. Contact us today.

Three steps to choosing the best commercial insurance solution for your company

You need to invest in commercial insurance to protect your company from unforeseen expenses. Hanneken Insurance Agency Inc. is an insurance provider offering coverage in Little Falls, MN.

There are a few steps that you should go through when you are choosing a commercial insurance plan. The following are three steps to choosing the best commercial insurance solution for your company. 

Consider what types of commercial coverage your company needs

There are numerous types of commercial coverage available. You need to evaluate the needs and risks that your company faces. 

Types of commercial insurance include commercial liability, property, and auto coverage. Other types include product liability and workers’ compensation. Depending on your company’s industry, structure, and size, you may need one or several of these insurance types. 

Consult a few providers of commercial insurance for quotes

Getting quotes from commercial insurance providers is essential in finding insurance coverage for your company. Identify insurance providers offering commercial coverage in your area and provide them with your company details and insurance needs. 

You can then compare policies’ costs and consider which is best for your company’s budget and coverage needs. 

Choose a policy and remember to update your policy annually

You’ll need to choose a policy after evaluating your options and purchasing that policy. After choosing a policy, you’re not finished with commercial insurance considerations.

You’ll want to reevaluate your coverage annually to update your coverage according to changes at your company. 

We’re here to offer our expertise when you have questions about commercial insurance in Little Falls, MN. Send us your questions and inquiries at Hanneken Insurance Agency Inc. We’ll be happy to provide you with info on our commercial insurance offerings.