Why it is important to get life insurance.

In the Little Falls, MN area, there are many important forms of insurance that the average person may need to get. One form of insurance that should be carefully considered is life insurance. There are several reasons why getting a proper life insurance policy is so important for anyone in this area. 

Protects Dependants

The main reason that it is important to get into a life insurance policy is that it will give valuable coverage to your dependents. If there are people in your life that depend on your income, you will want to ensure you get the coverage necessary to protect their financial future. If you get a life insurance policy, it can be built to ensure the benefit will give them the financial protection necessary if you were to pass away. For those without dependents, having insurance to cover your debts or end of life expenses could be helpful to those you care about. 

Gives Peace of Mind

Additionally, you will want to have life insurance because it can give you peace of mind. The thought of leaving people with debt and financial challenges can be very stressful. Fortunately, you can provide yourself with peace of mind if you get an appropriate life insurance policy. 

There are a variety of important reasons to get life insurance if you are in the Little Falls, MN area. When you are looking for this insurance here, you could find that picking the right policy is complicated. Fortunately, you can reach out to the team at Hanneken Insurance Agency Inc. to make it easier for you. The insurance team at Hanneken Insurance Agency Inc. is experienced when it comes to helping people understand their needs and options when it comes to life insurance. This can help to ensure that you receive the right coverage for your situation. 

Commercial Insurance and Your Business Continuity

You need to protect your Little Falls, MN business in every way possible both for yourself and for the overall Minnesota economy. Hanneken Insurance Agency Inc. wants you to understand the part that commercial insurance plays in your business continuity and how to integrate it into your business continuity plan. Now, if you read that and thought, “What’s a business continuity plan?” then let’s start there.

Business Continuity Plan

A business continuity plan explores the possible business interruptions and devises strategies and mitigation practices and procedures to circumvent them in a written plan. The plan often includes alternate physical locations where you could continue running your business and/or cloud options to do so while working from home or another location. The plan reduces downtime so your business remains up and running and you can reduce losses. One strategy of a business continuity plan is an insurance policy that includes business continuity insurance, also called business interruption insurance, a type of commercial insurance.

Business Interruption Insurance

An insurance company typically requires you to have a business continuity plan before you can obtain business interruption insurance. That is because the insurance agency wants to see your plan for managing risks and reducing losses. A business interruption policy pays for the lost income while your business must close, so the insurance policy wants to see that you have in place viable ways to prevent having to close the business even if that means temporarily relocating it to a different storefront or manufacturing plant, etc.

The insurance policy forms one small part of this plan, but it’s integral. The BCP forms part of your business plan. If you go to a financial lender to take out a business loan, they will ask to see this as a part of your loan package. If you have left out the business interruption insurance, they will typically suggest you purchase a policy and consider you unqualified for a business loan until you obtain one.

Come talk to us at Hanneken Insurance Agency Inc. serving the Little Falls, MN area to learn more about business interruption insurance and how it can help you. Call us 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. 

Four auto insurance requirements to meet as a Minnesota motorist

As a driver in Minnesota, you need to meet insurance requirements to drive legally. At Hanneken Insurance Agency Inc. we offer auto insurance policies that will allow you to meet state-mandated minimum coverage requirements.

The following are four auto insurance requirements you’ll need to meet as a Minnesota motorist.

You need to have $60,000 in bodily injury coverage.

It is required that Minnesota drivers carry at least $60,000 in total bodily injury coverage per accident. In addition, you need to carry $30,000 in bodily injury coverage per person per accident.

You need to have $10,000 in property damage liability coverage.

Minnesota auto insurance policies are required to meet property damage liability requirements. You need to have a policy that offers at least $10,000 in property damage liability coverage. 

You need to have $40,000 in personal injury protection. 

Another requirement in Minnesota is that motorists carry personal injury protection coverage. You need to have auto insurance policies that include at least $40,000 in personal injury protection.

Personal injury protection will pay for medical expenses for both you and your passengers in the event of an accident. This will cover medical expenses before your own health insurance coverage comes into play. 

You need to carry uninsured motorist coverage.

Minnesota is a state that requires uninsured motorist coverage. You are required to carry at least $25,000 in uninsured motorist coverage as a Minnesota driver. This will cover you if you are involved in an accident with a motorist who does not carry adequate insurance and is at fault in an accident in which you are involved.

Are you looking for auto insurance coverage in Little Falls, MN? Let us help you find coverage at Hanneken Insurance Agency Inc. Get in touch with us with your questions and inquiries regarding auto insurance options in Minnesota. 

3 ways to get the most out of your health plan

There is more to your health insurance policy than co-payments, monthly premiums, and deductibles. You can save money with proper planning. The agents at Hanneken Insurance Agency Inc. can help you strategize to find the health insurance plan that works best for your lifestyle. Read on to learn how you can get the most out of your policy in Little Falls, MN.

Choose the right plan

Many consumers purchase the first health insurance plan offered to them. This method is not always the best route as the first option is sometimes the most expensive plan. 

You should shop around for health insurance like you shop around for a home or car. Pick three possibilities and weigh the pros and cons before ultimately deciding on the plan that you believe fits your family’s needs. 

Stay with in-network providers

HMO insurance plans require you to stay with your physician for all care needs. You have the option of going outside of your network with a PPO plan. The expenses that follow such a decision, however, can be enormous. It is best, then, to find a physician and hospital that receives payment directly from your provider. 

Take advantage of mail orders for prescriptions

You cannot utilize the mail ordering benefit if your prescription is for a temporary condition. Those with chronic health problems, however, may find it beneficial to order medication in bulk. A 90-day supply is cheaper in the long run in comparison to a 10-day supply of the same medication that you have to keep getting refilled. 

The agents at Hanneken Insurance Agency Inc. can help you find the right health insurance plan. Call them today to get a quote for coverage in Little Falls, MN.

What does farm insurance cover?

If you own a farm in Little Falls, MN, you might have already figured that you might greatly benefit from farm insurance. Generally, you want to buy enough coverage based on what you are dealing with. Farm insurance is designed to protect you commercially as well as personally.

At Hanneken Insurance Agency Inc., we recommend farm insurance as it provides coverage for your possessions, home, and personal liability. This policy also goes beyond that to cover your livestock and machinery.

What does farm insurance cover?

Farm insurance covers property that is directly related to farming. Here are the primary coverages associated with farm insurance.

Livestock

Livestock coverage is the most comprehensive coverage for any farmer in Little Falls MN who prefers to keep livestock. A lot can happen to the animals you are keeping, whether for domestic or commercial purposes such as illnesses, death, and injuries. Livestock coverage helps protect your finances by paying the medical bills.

Farm equipment and machinery

This coverage is specifically for farmers with large equipment and machinery that are used on the farm. Whether it is a hay raker, planter, cotton picker, or tractor, this coverage protects all of them.

Farm products

Farm products such as seed, grain, and feed are all considered farm products. Farm insurance helps compensate the farmer in the event of an accident that left these products destroyed. It can also pay for stolen seeds or grain. It is critical to note that seed or grain that is already planted is not covered. Crops are covered under the commercial insurance policy.

Farm liability coverage

Like home and auto insurance, farm insurance comes with liability coverage to cover risks such as lawsuits if your livestock destroyed someone’s property. It covers medical expenses, bodily injury, and property damage liability.

Farm insurance is a critical coverage for any farmer. For more information, visit Hanneken Insurance Agency Inc. today.

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!

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!

Can You Buy Auto Insurance While Your License Is Suspended?

You can, legally speaking, buy auto insurance while your license is suspended in Little Falls, MN.

But there are a whole lot of reasons why you shouldn’t bother.

  • While your license is suspended, you’re not allowed to drive in the first place. If you plan on driving without a suspended license and you wind up in an accident, your insurance may help you to cover the damages, but it might not keep you out of jail. If your license is suspended, don’t drive, and don’t plan on driving, until you’re legally allowed to again.
  • Your insurance company may be willing to sell you insurance while your license is suspended, but if they know that your license is suspended, there’s a good chance they’ll deny you. They may choose to cancel your policy or not to renew it if you are already insured.
  • If you managed to get insured by lying to your insurance company, don’t expect them to honor any insurance claims you make afterward.

Having a suspended license doesn’t mean you can’t still shop around for auto insurance, but there’s simply not much good that can come of actually buying a policy while you’re not allowed to drive.

Suppose that a car belongs to you, but a family member with a valid license will be driving it. Well, the car-owner and primary driver listed on an insurance policy do not have to be the same person, and your insurer may be willing to work with you here. But you have to be upfront with them about the precise nature of the arrangement, or risk having your claims denied.

If you’re shopping around for insurance in Little Falls, MN, get in touch with Hanneken Insurance Agency Inc., and let’s see what we can do for you. You can call us or you can visit the Hanneken Insurance Agency Inc. and we’ll compare quotes to get you the coverage you need.