Farm insurance protects against the financial loss of crops and livestock due to natural disasters such as severe storms and floods. Most insurance contracts cover these types of damage at no additional cost to the farmer, while some provide additional coverage specific to farm animals. Some insurance firms provide additional coverage specific to farm animals for the equipment and building, while others are solely for repairing damaged property. 

When is farm insurance required? 

Farm insurance is required by law in most U.S. states and foreign countries. However, some states do not require farm insurance. Many farmers do not require this cover because their land is not considered at risk of crop failure. However, if you operate a large farm, you may want to consider getting farm insurance to protect your assets should something happen to your farm. In addition to coverages like crop damage, farm insurance provides protection against other risks such as theft, fire, storm, and animals. You can learn from Hanneken Insurance Agency Inc., which serves Little Falls, MN. 

Farm insurance is essential whether you own a homestead or lease a farm. It may be necessary if you are considering buying a farm or selling your farm. Farm insurance can protect you against various risks such as hail, storm, flooding, wind, hail, or water damage on your farm. Farm insurance is also necessary if you breed livestock or grow crops on your farm. Even if you are not actively involved in farming, getting farm insurance is still a good idea. 

Bottomline 

Farm insurance can be expensive, but it is worth it because it protects your livelihood. Be sure to research farm insurance coverages before you buy a policy. Farm-related losses are common in agricultural and livestock-based industries. For example, crops are destroyed by bad weather, diseases kill livestock, and natural calamities like floods or storms destroy equipment. To protect your farmland and livestock from these losses, you need to purchase farm insurance. You can get this coverage from a farm insurer or your farmer’s insurance program. Keep in mind that the two types of insurance have different coverage limits. For example, a farm insurance policy may have a higher limit than a homeowner’s insurance policy. For help, reach out to Hanneken Insurance Agency Inc. in Little Falls, MN.

The Little Falls, MN agricultural community can rely on Hanneken Insurance Agency Inc. for their family farm insurance needs. If you want to make sure that your farm has the protection it needs, call us today and set up an appointment. Our team is experienced and knowledgeable and can help you get the protection you need.

Protect your family farm today

We understand that finding the right policy to protect your family farm can be challenging. Underwriting a family farm or agricultural business requires a different approach than most properties receive. If you don’t feel like your insurance provider is giving you the protection you need at a fair price, we can help. 

We work with several different insurance providers who understand the nuances of underwriting farm insurance. We know that you need protection for:

• Livestock
• Farm equipment
• Worker’s compensation
• Crop protection
• Liability coverage

Yes, a family farm is a business, but its insurance needs vary greatly from most other commercial enterprises. If you want to learn more about farm insurance benefits, it’s time to sit down with a local agent. 

Farming is hard work, and your dedication and hard work need to be protected. Having the right farm policy can make the difference between going under due to a catastrophe and passing the family farm down to the next generation.

We look forward to working with you!

The folks here at Hanneken Insurance Agency Inc. are proud to work with the greater Little Falls, MN community. If you want to make sure that your family farm has the protection it needs, call us today! We look forward to working with you.

Do you live in the greater Little Falls, MN area? If you are a long-time resident or have recently moved to the area, we look forward to working with you! We are here to serve our community and provide the insurance coverage you need to protect yourself and your family. You can rely on Hanneken Insurance Agency Inc. for all your insurance needs! Call or stop by today.

The challenge of finding affordable health insurance

High deductible care can be a good option for healthy folks looking to keep their insurance costs within their budget. This type of insurance, often referred to as catastrophic care, can be a good fit for many people. If you only see your doctor for your annual check-up, a catastrophic care plan may be right. Some of the benefits of this type of policy include:

• Free annual check-ups and some preventive care
• Coverage for hospitalization
• Low monthly premiums

For example, if you only go to the doctor once a year and do not take any prescription medications, your health care needs are considered minimal. With preventive care and hospitalization stays covered, you will have the medical insurance protection that you need. If you have a medical emergency, you will have health coverage. But, you will also enjoy lower premiums each month. 

Find out more today!

The Hanneken Insurance Agency Inc. team is here to help residents in the greater Little Falls, MN area with all of their insurance needs. This also includes health insurance. If you’d like some guidance when it comes to navigating the process of finding the right health insurance, we can help. Give us a call or stop by the office today!

When you have a business in Minnesota, it’s important to have all of the commercial insurance types that you need in order to protect that business. There are some types that are required by law and others that aren’t required but are extremely helpful to many types of businesses. If you don’t have the commercial insurance coverage you need, contact us at Hanneken Insurance Agency Inc. in Little Falls, MN.

Workers’ Compensation

This type of insurance pays for the medical bills and lost wages that are needed when an employee gets injured while at work. This is important coverage to protect your business from most lawsuits due to injuries. It also provides workers with disability benefits when injured. Sole proprietors are excluded from this mandatory insurance, as are corporate officers and partners. Otherwise, every business must have this for every employee they have. 

Commercial Auto Insurance

If your Minnesota business owns a vehicle, it is required to be covered by a commercial auto policy. This policy must have a number of different coverage types within it to protect your business as well as others who are affected by an accident. There is an amount of coverage that is required for one person for bodily injury liability in an accident and another amount required for everyone in the accident who is injured. There is also an amount required for property damage liability. All of these coverage types pay for other people’s injuries and property when your vehicle causes an accident. 

There is also an amount required for one person who is injured in an accident that is caused by an uninsured or underinsured driver and another amount for everyone who is injured in such an accident. Lastly, there is an amount required for personal injury protection that pays for injuries to your driver and/or the passengers. 

Get Covered

If your business needs coverage, call us at Hanneken Insurance Agency Inc. in Little Falls, MN.

If you don’t have life insurance, you may worry about the future of your family. And, you may have good reason to worry. It can be financially devastating to have a wage-earner pass away without any life insurance left behind. That’s why it’s so important to get a life insurance policy, and a whole life policy is a good choice. If you’re interested in one of these policies, contact us at Hanneken Insurance Agency Inc. in Little Falls, MN.

An Insurance Policy for Life

As the name suggests, who life insurance is there for the rest of your life or your "whole" life. While term life insurance is only good for a specific number of years, whole life policies have no expiration dates. Keep paying the premiums and your policy will be there for your family after you pass away. This guaranteed coverage under the policy is perfect for giving you better peace of mind about the future. Once you sign up, keep paying for it and the company cannot cancel the policy. 

Building a Cash Value

Another thing that is advantageous about whole life policies is that they will build up a cash value over the years. The longer you have the policy, the more the cash value will be. It generally starts a few years into the policy, and it grows over time. This amount is a small portion of the number of profits the company receives from investing in your premiums. Once you have a cash value, you can borrow against it if you have a financial emergency and need access to the funds. 

Get Whole Life Coverage

If you don’t have any life insurance, it’s important to get a policy as quickly as you can. Contact us today at Hanneken Insurance Agency Inc. in Little Falls, MN.

Every state has requirements for health insurance. In fact, all Americans are required to have some sort of health insurance. If you have questions about what kind of health insurance you are required to have, you are not alone.

Hanneken Insurance Agency Inc. helps the residents of Little Falls, MN find the health insurance they need. These are the health insurance requirements for Minnesota residents.

Health Insurance Must Cover More than Vision or Dental Care

Even if you already have a vision and dental care, it is not enough to meet the requirements. You need to have insurance that covers things like prescription medications and preventative care. You need to have a plan that is well-rounded, even if it has a low premium and a high deductible.

Health Insurance Must Be for General Health

Health insurance does not meet the requirements if it only covers some types of injuries or health conditions. For example, a policy cannot only cover emergency room visits.

Health Insurance Must Not Only Provide Discounts

Some people have health insurance that does not provide coverage for any procedures or exams but rather only offers discounts on treatment. Insurance must offer more than discounted pricing on exams and treatment options.

Learn More About Minnesota’s Health Insurance Requirements

Generally, anything you get through the marketplace will meet healthcare insurance requirements. A professional can help you choose the right policy for your needs.

Hanneken Insurance Agency Inc. serves Little Falls, MN, providing locals with the information they need to make good health insurance choices. If you are interested in changing your health insurance policy, now is a good time to take action. Contact an insurance professional to learn more.

If you are trying your hands in a niche sector like agriculture in Little Falls, MN, you might find that farm insurance is more suited for your industry as opposed to ordinary commercial insurance. Why? Farm insurance is more tailored to cover your agri-business against various perils.

But is farm insurance mandatory? The reality is that no law requires you to carry farm insurance. But as you will find out, farm insurance should be a must-have insurance policy, whether compulsory or not.

What does farm insurance cover?

Yes, farm insurance isn’t mandatory, but you need it to protect your agricultural business. Ultimately, farm insurance provides the below protection:

• Home and contents coverage: Farm insurance protects your farm home and its contents from loss or damage by perils like theft, fire, and so on.
• Farm machinery: If you want to protect farm equipment like tractors, combine harvesters, and other farming equipment, you must invest in farm insurance. Besides, farm insurance is a requirement if you want to lease your farm machinery.
• Livestock protection: Farm insurance protects your animals from theft, severe weather changes, and accidents subject to your policy’s exclusions.
• Farm loss protection: If severe weather, accident, theft, or any other covered peril decreases your yields, farm insurance compensates you for the loss.
• Farm liability coverage: Just like your home insurance, farm insurance covers you against liabilities occurring on your farm. Whether it’s property damage, bodily injury, or legal suits, farm insurance got you covered.
• Farm products: Farm insurance shields farm products like feeds and seeds while on storage.

Buy farm insurance today in Little Falls, MN

Would you like to protect your crops, farm equipment, and livestock with farm insurance? Why don’t you get in touch with Hanneken Insurance Agency Inc.? We offer customizable farm insurance coverage that suits your budget and other needs.

With so many life uncertainties, you may need to review your current life insurance to determine if it’s adequate. But how much life insurance do you need? To be fair, it’s not a straightforward answer. However, with the help of Hanneken Insurance Agency Inc. of Little Falls, MN, figuring how much life insurance you need should be easy.

Here are a few steps to guide you.

Figure out your financial picture

Are you about to invest in life insurance? Painting a picture of your financial plan would be a great place to start. Where are you financially, and where are you headed? Better yet, you can involve a financial advisor to identify gaps in your plan and figure out how life insurance can plug the holes. 

Why do people need life insurance?

If you are to determine the amount of life insurance you need, the first step is to determine why you need life insurance in the first place. Most people need life insurance to:

• Finance final expenses
• Transfer wealth to dependents
• Pay for debts
• Supplement retirement income
• Ensure the success of their business

After identifying why you want life insurance, the next step is figuring how to calculate your life insurance. 

How to calculate the amount of life insurance you need

There are numerous methods to compute how much life insurance you need. Let’s look at some.

• Multiply your income by 10: It’s an outdated model, but it can help estimate the life insurance you need.
• The DIME method: This method considers your debts, income, mortgage, and education (DIME) in the computation. This method is better than the “10 times method,” but it ignores your current financial assets. 

While there are numerous life insurance calculation methods, the general rule is that the life insurance you need equals your financial obligations less your existing assets that can settle bills. 

Buy life insurance today!

If you are still unsure about calculating your life insurance, don’t hesitate to contact Hanneken Insurance Agency Inc., serving Little Falls, MN and its environs. Besides, we will help you choose a life insurance plan that fits your needs and budget.

If you live in the Little Falls, MN area and want to start a business, it is crucial to invest in commercial insurance. Commercial insurance protects you from things such as property damage, theft, employee injury, and more. But, unlike traditional insurance, there are various types of commercial insurance that you must familiarize yourself with. Understanding each type of commercial insurance will help you pick the best policy and coverage for you and your business.

Here are the different types of commercial insurance.

Business liability insurance

Business liability or general business liability insurance is one of the most essential types of insurance for businesses of all types. Business liability protects you from being sued by a third party outside of your business. In addition, it helps cover legal fees, settlements, and awards.

Workers’ compensation insurance

Workers’ compensation covers medical care and partial wages if your employee gets injured on the job.

Property insurance

Property insurance is essential to protect your place of business from natural disasters, floods, and fire. Depending on your plan, you can cover everything from furniture, inventory, technology, and anything you deem necessary for your business in addition to your property.

Business auto insurance

Business auto insurance is crucial if your business relies on vehicle transportation. For example, if you or an employee get in an accident, your business auto insurance will cover the costs.

Umbrella policies

Umbrella policies are crucial if you’re a business that is prone to major losses and lawsuits. Umbrella policies work by covering whatever your original policies won’t.

If you’re looking to start a business in the Little Falls, MN area reach out to Hanneken Insurance Agency Inc. to discuss what commercial insurance would be right for you!

In most cases, spouses tend to get health insurance coverage under the same policy. However, this is not always possible and sometimes having separate policies makes more sense. Spouses in Little Falls, MN should take the time to review their health insurance plans, determine who has the best policy, and decide if they should be under the same policy or carry individual ones. 

Those with questions about health insurance coverage for spouses should reach out to Hanneken Insurance Agency Inc. for additional information.

Out-of-Pocket Expenses

Health insurance plans have maximum out-of-pocket costs policyholders pay annually. The total out-of-pocket expenses vary based on the plan. However, the Affordable Care Act did impose a max limit of $8,550 for an individual and $17,100 for a family. If it is just you and your spouse, having separate policies may not be an issue for out-of-pocket expenses. However, if you have a family, having a policy together is beneficial when calculating max out-of-pocket costs. 

Healthcare Needs

If one of you has extensive healthcare needs, such as a significant medical condition, having two separate policies may be the best option for financial reasons. The spouse with the medical conditions can select a more expensive provider with higher coverage options. The other spouse can choose a less comprehensive policy and save money on premiums. 

Employer-Sponsored Health Insurance

Most employers offer health insurance options for their employees, which also provide coverage for spouses. If both spouses work and have access to employer-sponsored health insurance, they need to decide if they want to keep separate policies or pick the plan with the best coverage for both of them. If only one spouse has this option, it may be best to be on the same health insurance plan. Otherwise, it would be best if you shopped for insurance from a Little Falls, MN private provider. 

Call the agents at Hanneken Insurance Agency Inc. today for additional information about health insurance options for couples.