Three ways commercial insurance coverage protects your livelihood

You need to protect your business operation from financial disasters if you want to enjoy continued income from your business venture. Without commercial insurance, there are numerous problems that can come up that can wipe out your company assets and destroy your livelihood.

At Hanneken Insurance Agency Inc. we offer business owners in Little Falls, MN commercial insurance coverage that protects their livelihood. The following are three ways commercial insurance coverage protects your livelihood.

Commercial insurance pays to rebuild damaged commercial facilities.

Your commercial facilities may be essential to your business operations. If your commercial facilities become damaged, it’s likely that you will no longer be able to maintain your company’s revenue stream.

Fortunately, you can cover the costs of repairs to commercial facilities if you insure your properties with commercial insurance. 

Commercial insurance covers the costs of legal representation in the event of a lawsuit.

If your company gets sued, the costs of hiring legal representation could be extremely high. In fact, costs could be high enough to severely restrict your cash flow or even put you out of business.

Commercial liability insurance can cover the costs of hiring representation for a situation where your company is facing a lawsuit. 

Commercial insurance allows you to meet legal requirements.

You are legally required to carry commercial insurance in certain situations. You are legally required to carry worker’s compensation insurance in many cases if you hire employees, for example. 

Therefore, commercial insurance allows you to meet legal requirements and protect yourself from penalties or fees for not complying with these requirements. 

With our help at Hanneken Insurance Agency Inc., we’ll build a commercial insurance policy to protect your company in Little Falls, MN. Get started by contacting us today!

The advantages of buying life insurance while young

For many youngsters in Little Falls, MN, insurance policies are never a priority. However, when it comes to life insurance, young people consider the plan as it comes with a pack of benefits. Life insurance, when bought early, saves you money–lots of it.  At Hanneken Insurance Agency Inc., we recommend buying life insurance as early as the early 20s even when you don’t think you need it. Here are a few benefits to convince you.

Exceptional rates

Like we already mentioned, the younger you are when buying insurance, the better. Insurance rates for young people are typically half the price of senior policyholders. What does that tell you? You will pay lower premiums and get a reasonable sum of money when you are older, depending on the type of life insurance you buy.

Waiting can be costly

Waiting until you are older to buy insurance can be expensive. Life insurance providers in Little Falls, MN pay a lot of attention to age. When you are older, you have more responsibilities such as taking care of a family, looking after your parents, establishing a business, buying a home or a new car, and many other needs.

With all these financial needs, you may end up ignoring life insurance until you are older and are retiring. With age, comes chronic ailments and other medical conditions. These illnesses can raise your premiums, especially if your disease has no cure. In some extreme cases, you may end up not qualifying for life insurance. Most insurance providers will decline an insurance application for individuals above the age of 85.

Helps protect those that matter the most

Life insurance is a powerful financial tool for anyone looking to start a family, have a young family or dependents to look after. At your young age, you may be having other financial needs like paying your student loan or funding your first car. Life insurance is what will safeguard your future and the future of your family.

Need more information on life insurance? Contact Hanneken Insurance Agency Inc. today!

Preparing Your Farm for the Summer

Farm owners in Little Falls, MN typically look at the calendar with a sigh of relief when winter is ending. You’re happy to be shedding the bulky winter coats and looking forward to spending time working on the farm in warmer weather. However, summer on the farm comes a lot of preparations, many of which include making sure the winter didn’t cause too much damage to the farm, your home, and the outbuildings. Hanneken Insurance Agency Inc. has put together a few tips to help you prepare your farm for the summer.

Inspect Outbuildings

The first and one of the most important things to do when preparing your farm for the summer is to inspect all of the buildings on your property including outbuildings, barns, and your home. Winter weather can do significant damage to roofing materials, windows, doors, insulation, and siding, so it’s essential that you check for leaks; both water and air, which can lead to increased energy costs. Preparing the buildings on your property for summer means assessing damages and allowing yourself enough time to make repairs.

Check Irrigation System

As a farm owner, the irrigation system is typically an important feature for ensuring the crops and lawn has access to plenty of water. The freezing temperatures can wreak havoc on the irrigation system, so it’s important to ensure all aspects of the system survived the winter intact. The first thing to do is to remove the freeze caps from faucets and turn the water on. If there is only a trickle of water, it may due to an issue with the pipes, such as a crack that is causing water to leak. If you notice any issues with the irrigation system, it may be best to contact a professional to do a comprehensive inspection and a maintenance tune-up on the system.

The key to keeping your farm operating at full function is the equipment, including tractors, animal feeding equipment, and lawn equipment. It’s important to inspect and clean each piece of equipment before use. Be sure to check the fuel to make sure water hasn’t gotten into the tanks, fill all fluids, and perform required maintenance tasks.

Residents of Little Falls, MN interested in learning more information about farm insurance or upgrading current policies should contact Hanneken Insurance Agency Inc.

Health insurance terms that you need to know

To say that most people do not understand much about health insurance is a gross understatement. The language is confusing and as often as not, the choices that are made may or may not be right for the person purchasing it. Cost is a major determining point but choosing the least expensive policy only to find out it offers little coverage is counterproductive.  How is anyone without extensive knowledge of insurance language to understand what to look for in healthcare policies? One thing you can do is to count on the experienced staff at Hanneken Insurance Agency Inc. in Little Falls, MN to help you by explaining what each carrier has to offer you. 

What is a network?

There is not one network. Each insurance company has contracted with healthcare providers to offer services at a set agreed-upon price. When you choose an insurance carrier it is important you check who is in their network. Hopefully, your preferred doctors and other providers are in the network. If they are not you must decide if you are willing to change doctors or pay more for your service. 

Drug formulary

Not all drugs are covered by insurance. The formulary is the list of covered drugs for your chosen provider. Both generic and brand name drugs may be included and they are placed in tiers that determine the monthly cost. 

Deductible

The deductible is the dollar amount of expenses paid out of pocket before the insurance begins coverage. High deductible policies are less expensive but may not be the perfect choice for you. 

Copay

A copay is your portion of a service, the amount you pay when service is provided. Almost all services have copays. 

Choosing health insurance is confusing and stressful. At Hanneken Insurance Agency Inc. in Little Falls, MN we want to take the stress out of the process for you. Give our office a call to set up an appointment to discuss your health insurance needs. 

Who Should Choose Health Insurance With A Higher Deductible?

Having health insurance in place is an excellent way to protect you financially and help you deal with any health issues that may arise along the way. Health insurance is a complex world of terms and conditions associated with each policy. In many cases, people are confused about which options to choose when it comes to things like deductibles.

Choosing The Higher Deductible

Those who have infrequent medical needs should choose the coverage with a higher deductible. The lower deductible with help with initial visits both to the doctor or an emergency facility which would be plausible for people who have health issues or who are at a higher risk for injury and accidents. The best way to assess the risks and discern current needs is to work with a licensed health insurance agent. They are specially trained to work with clients to help them get the right level of coverage including helping them decide which deductible amounts work best for their situation. 

Top Agents Ready To Serve

Those agents who are trained to help clients select health insurance are imperative to helping people get the coverage they need to protect them from losses due to health issues, accidents, or medical emergencies. The agents at Hanneken Insurance Agency Inc. serving Little Falls MN are ready to help you begin the process of evaluating your needs and then help sort through the options to find the health insurance coverage that meets your current and future needs. It’s all a part of their commitment to excellent customer services during and after the selection process. 

Anyone who is currently in the market for good health insurance coverage should call or stop by Hanneken Insurance Agency Inc. to find out more about how they can assist the residents of Little Falls, MN with their health insurance needs. 

Three things you need to know about farm insurance

It’s important to protect your Little Falls, MN farm with the right farm insurance policy. Whether you have a hobby farm or a farm business that you rely on for your livelihood, farm insurance is essential for covering unexpected expenses that could come up as the result of accidents.

At Hanneken Insurance Agency Inc. we offer a variety of farm insurance options. The following are three things you need to know about farm insurance when you’re in the process of purchasing a policy.

One of the most important and valuable assets that farm insurance protects is farm equipment.

Farm equipment is essential to the productivity of any farm operation. Farm equipment coverage is among the most important coverage types to look into when you take out a farm insurance policy.

Farm insurance is a highly individualized product.

Unlike many types of insurance such as auto insurance, farm insurance is a highly individualized product. There is no such thing as a standard farm insurance policy. You’ll need to devise your own farm insurance policy by determining which types of coverage you need for your unique farming operation. 

If you need coverage for livestock, you can choose between individual and blanket coverage.

Farm insurance is not automatically included in farm insurance policies and needs to be added on. Livestock coverage is classified as either individual coverage or blanket coverage.

Individual coverage involves specifying a certain amount of coverage for individual animals. Blanket coverage is a lump sum amount of coverage for all animals on a farm. 

It’s important to do your research to find the best farm insurance policy option for your needs. You can get in touch with us at Hanneken Insurance Agency Inc. to learn more about options for insuring your farm in Little Falls, MN. 

Different Types of Business, Different Commercial Insurance Policies

The kind of business you have affects almost everything you do. One of the biggest areas where that effect may be seen is in the kind of commercial insurance policy your company chooses. At Hanneken Insurance Agency Inc. we work hard to help all our Little Falls, MN area customers get the right type of policy for their business. The right type and level of coverage is great for protection, and it’s also extremely valuable for peace of mind. By understanding what your company does and how it operates, we can suggest the insurance policy that’s going to provide you with the right coverage level that will meet your needs.

A large retail store with hundreds of employees and a huge warehouse attached is going to need something far different from a small craft shop down the street where only one or two people work. Some businesses are operated from home, and others are service-based instead of product-based. The size of the business, what they offer to customers, and the kind of location they have all matter when determining the right kind of insurance for their needs. Insurance is about protecting a business, but it’s also about protecting people, too. The right policy will do all of that, and help you feel secure as a business owner.

If you’re in the Little Falls, MN area, give us a call at Hanneken Insurance Agency Inc. or stop by and see us. Our professional agents will be happy to help you find the right policy for your business. Whether you’re just getting started and aren’t sure what you need, or you have a commercial insurance policy that needs to be changed or updated, we’re here to work with you and provide you with quality service. Your business deserves a strong level of protection.

3 Ways Life Insurance Provides Financial Security For Loved Ones

Many of our residents living in or around Little Falls, MN look for ways to protect their loved ones even after they have passed. At Hanneken Insurance Agency Inc. we want our customers to know how life insurance can provide financial security for their loved ones. 

Covering Debt

It is hard to get out of life without having some type of debt. When you pursue a life insurance policy, you should consider all of your current outstanding debt. Upon your death, this debt will not be eliminated. It will fall to the responsibility of your loved ones or given back to the lender if they are not able to cover the cost. 

Estate Taxes

At the time of your passing, your loved ones will need to cover estate taxes and other fees associated with taking over the property. If your estate is being divided between multiple parties, additional surveying and probate costs may apply. Leave enough funds in your life insurance policy to cover these costs maintain the financial security of your loved ones, ensuring that they do not have to cover additional costs. 

Inheritance

Leaving a financial gift behind to your loved ones is something that many of our customers consider. If you want to guarantee the financial security of those closest to you, make sure to leave them a financial gift that will cover their own obligations. They can use these funds to cover college tuition or down payments on a home if you choose. 

Contact us Today!

If you are looking to purchase a life insurance policy, give our agents at Hanneken Insurance Agency Inc. a call today for more information. We proudly serve the residents in and around Little Falls, MN, and look forward to hearing from you soon. 

What Are the Different Types of Health Insurance?

You have different options when you are shopping for health insurance in Little Falls, MN. An agent at Hanneken Insurance Agency Inc. can help explain your choices.

Health Maintenance Organization

An HMO will give you all your health services through a network of healthcare providers. You have the least amount of freedom to pick your providers but the least amount of paperwork to complete. You get a primary care doctor that manages care and then you get referred to a specialist when you need one.

Preferred Provider Organization

With a PPO, you have more options to choose your healthcare providers and you don’t need a referral in order to see a specialist. There will be higher out-of-pocket costs in Little Falls, MN if you see a doctor that is out of your network. There is more paperwork than other plans, especially if you see a doctor, not in your network.

Exclusive Provider Organization

With an EPO, you have a moderate amount of freedom for choosing your healthcare provider and you don’t need a referral to see a specialist. Unlike a PPO, you don’t get any coverage for an out-of-network provider and you have to pay for the full cost yourself.

Point of Service Plans

A POS blends features of a PPO and HMO. You have the freedom to choose your healthcare provider and a moderate amount of paperwork. Like an HMO, there is a primary care doctor to help coordinate your care and refer you to a specialist.

Catastrophic Plan

If you are under the age of 30, you can get a catastrophic health plan. With this plan, you get three primary care visits before a deductible and free preventive care, even if you haven’t met the deductible. There is also a lower premium.

Contact Hanneken Insurance Agency Inc. to get a quote on health insurance. 

Tips to Prevent Injuries on the Farm

Living on a farm, regardless of its size, can bring a lot of joy; however, there are also a lot of risks for injuries that come with farming. To make matters worse, living on a farm in Little Falls, MN may mean it takes longer to get treatment for injuries. Hanneken Insurance Agency Inc. has put together a few tips to help minimize the chance of injuries occurring on your farm.

Use Protective Gear

The most important equipment you have on your farm is the appropriate safety gear. For instance, wearing seat belts while using equipment such as tractors and wearing gloves when working with equipment that put hands at risk of an injury and always wear a face shield to protect your eyes when working with equipment that may spray debris into your eyes.  Regardless of how quick you think the job may be, it’s essential to use the appropriate safety gear.

Maintain Grain Bins

Although it’s essential that you maintain your grain bins all year round, it’s especially important that you thoroughly inspect the bins pre-season and post-season. Carefully inspect the roof, foundation, and walls for any damages and make repairs immediately. Inspect the conveyers and fans to ensure they are working properly and remind employees of the importance of cleaning up spilled grain as soon as possible.

One of the most important things you can do to prevent the risk of injuries on your farm is to be aware of potentially dangerous weather. Most farms have large portions of open land, which can become a target for high winds, so be sure your family and employees know the procedures for getting to safety, regardless of where they are when severe weather hits. Remember to have a list of contacts on hand for all family members as well as all employees working on your farm.

Residents of Little Falls, MN who want to learn more information about upgrading their farm insurance should contact Hanneken Insurance Agency Inc.