30/60/10 Do You Know What These Numbers Mean?

What do those numbers mean?  

They are liability insurance numbers.  

MN Auto Insurance Requirements Are 30/60/10

  1. The first number 30 or $30,000 is the bodily injury liability maximum coverage for one individual who’s injured in an auto accident.
  2. The second number 60 or $60,000 is the maximum amount of bodily injury liability coverage per accident.
  3. The third number 10 or $10,000 represents the maximum amount of property damage liability, and it’s per vehicle.

Did you know what they mean?

One of the most common mistakes made when purchasing insurance is choosing the lowest liability limits.

Here’s why…

Average day in MN 2015

  • 205 crashes
  • 1 Death and 82 Injuries
  • Average daily cost in MN $4,858,135
  • Per accident average cost $23,698

22% of the time driver distraction is contributing factor in teen driving crashes

 

Car Insurance

 

 

 

 

 

 

 

Auto Insurance

Cost of Motor Vehicle Crashes in 2015

  • 411 Deaths @$1,512,000/Death
  • 1,127 Severe Injuries @ $88,500/Crash
  • 7,251 Moderate Injuries @ $25,600/Crash
  • 21,603 Minor Injuries @ $21,000/Crash
  • 98,276 PDO Crashes @ $4,200/Crash

Driving your vehicle represents the largest possible source of a lawsuit and it’s always best to consider these things before an accident.

So, are your limits high enough?

People falsely assume having the state minimum liability limits of 30/60/10 is the least expensive or is all they can afford….Believe it or not many times it’s less expensive to carry higher limits – not only because of the obvious of having enough coverage if you are in an accident but, having higher limits can give you better rates by being placed in a better rating tier. It could cost less to have better insurance!

How much should you have?

You will want to consider your current earnings, your future earnings,  your wealth.

Your limits should be the same level. Your liability limits should be the same for each insurance policy.  If you are insuring a million dollar net worth and have 30/60/10 for your autos or a boat trying to predict where a loss is likely to occur is foolish. However, people make this mistake all the time.

The thing is having higher auto and home insurance liability limits not only protests you it could lead to better rates too!  One of the rating factors underwriters use for quoting is your current liability limits. Carrying the higher limits will generally get you better quotes.

If responsible for an accident, you may have to pay for…

  • Car Damage
  • Loss of Use
  • Towing
  • Car Rental
  • Damage to Personal Property
  • Damage to Business Property
  • Environmental Cleanup

  • Modification to a Home
  • Pain & Suffering
  • Towing
  • Loss of Essentials Services
  • Attorney Fees
  • Loss of Wages
  • Medical Bills

Call your agents and have them run some quotes for you with having higher prior limits and without.  Find out how much you need and what the cost is to protect yourself.  Higher liability limits are one of the few bargains available in insurance.  You’ll be surprised how affordable it can be to raise your limits. Plus, rest easier knowing your covered well.

Do You Need a Personal Umbrella?

Are you really protected?  In today’s litigious society – you probably don’t have enough liability insurance coverage.

Aren’t personal umbrellas just for the super rich or wealthy?  Ummm No.

Minneapolis Insurance Coveage

Whether it’s a serious at-fault auto accident, boating accident or an incident on your property, you can quickly find yourself responsible for damages that exceed the limits on your auto, homeowners, renters ,boat, motorcycle or snowmobile policy.

If it’s an expensive judgment it’s is the last thing you want to worry about – especially if you’re just starting to get ahead after years of hard work. Accidents happen and it could all be gone. And when you find out how inexpensive an umbrella policy is – it will be even worse.

Fill out the form below and do some quick calculations.  Check easy quick and see if you think you should consider an umbrella. If you prefer call or chat with a specialist.

 

 

 

We offer limits ranging from $1 million to $10 million for customers meeting eligibility criteria. And, when you require legal defense for a covered claim, the policy helps cover defense costs such as attorney’s fees and other expenses.

Judgment amount $2,000,000 – $30,000 auto liability limit = ruined… everything ruined. 🙁

The good news…Use the calculator below and then call and speak to a specialists.  It’s highly possible to not only get better coverage – you’ll save money too.  🙂

 

Do you have the coverage you may need?

Total amount you have At Risk:

Current Insurance Protection

Gap in coverage?

Yes

No

"At Risk" Gap (What you need vs. What you have):

Call me to talk about ways to fill the gaps!

If responsible for an accident, you may have to pay for...
  • Car Damage
  • Loss of Use
  • Towing
  • Car Rental
  • Damage to Personal Property
  • Damage to Business Property
  • Environmental Cleanup
  • Modification to a Home
  • Pain & Suffering
  • Towing
  • Loss of Essentials Services
  • Attorney Fees
  • Loss of Wages
  • Medical Bills

 

 

Does Having A Home Security System Lower Homeowner’s Insurance?

 

Homeowners Insurance 612.460.7796

These tips are brought to you by The Minneapolis Insurance Specialists Team…333 Washington Ave. N Ste. 300

Yes, it generally will get you a discount.  Many of the home security systems available have come down in price and makes sense to have in your home.

In the process of delivering the best quote for home insurance, home insurance specialists ask about smoke detectors and security systems in your home. Most insurance companies offer some sort of discount for those homeowners who have security systems. Here are few of the different kinds of security systems that can help reduce your home insurance costs.

1.    Outside lights- Set these up on timers so they come on even when you are gone. Also, motion detecting lights are an excellent deterrent and can be     installed at a low cost.
2.    Cameras are also a good deterrent.  Place cameras around outside doors and your yard. Many home improvement stores offer cost-effective products.
3.    Alarms are always a good idea. Alarm systems that are connected to a central station will yield the best discount.

4.    Controlled access to building.

 

Other Home Insurance Credits

Most insurance companies offer many types of discounts for homeowners. We are committed to keeping up on all these discounts to make sure you are getting the best coverage and price. Some of these discounts can include:

1.    Secured entry and over 55 communities
2.    Community security
3.    Updates in wiring and/or plumbing
4.    New roof
5.    No claims
6.    Non smokers – The No. 1 cause of home fire fatalities in the United States is smoking.   Smoking caused 16,000 residential fires in 2012, killing               over 500 people and causing $376 million in residential property loss. Source- U.S. Fire Administration
7.    Senior citizen discounts- If you are over 55 and retired you may have discounts waiting for you.
8.    Sprinklers- Many new home building codes require sprinklers. These can be expensive but will provide home insurance discounts.

9. Credit and insurance score has a large impact on rates.

10. Longevity credits

We have connections to the best security system suppliers. Credit repair people, the best mortgage professionals and contractors we insure and trust. Check our trusted resource page for recommendations and possible discounts for our customers.

The Minneapolis Insurance Specialists Team, Minneapolis, MN will work hard to find you the best possible combination of coverage, price and service. Please call us today at 612.460.7796 or fill out the easy online form or chat for a free quote!

Condo Insurance and FAQ 612.460.7796

CondoInsuranceMPLSCondos are popping up all over Minneapolis, all of them are different. The associations and condo insurance policies can be vastly different too.

Minneapolis was the fastest growing city in Minnesota in 2014 this was the first time in around 100 years and 2015 looks to repeat.  Minneapolis is the largest city in Minnesota and growing again.

Much of the growth has been downtown and condos. There are over 35,000 residents living just downtown. If you are thinking about moving into a condo or have recently moved into a condo, you probably have a lot of questions about the complex that you have gotten into and about things such as affordable and the right condo insurance coverage. Though not all of these questions can be answered because each condo will vary, the basics of learning some of the rules of your condo complex is actually not that difficult to do.

 

You’ll want to look at or better yet – have your insurance agent look over the condo associations master policy.  Are just the contents and liability covered?  These policies vary and you’ll need to know things like what is covered and what the associations deductibles are and how much loss assessment coverage you’ll need on you HO6 policy “condo and town home policy”

You’ll also want to read the bylaws they are all different too. If you want to determine the answers to questions like whether or not pets are allowed?  Are rentals allowed? Are there are designated parking spaces in your condo complex?

Learn the Rules Before You Buy

Condos are like snowflakes, all of them are different. Of course, this is not to the same degree, but it can be said about the rules that are found in each individual condo complex and they can impact your condo living experience.  Condo insurance policies vary too and even though they are generally less expensive than home insurance policies they are often the most improperly insured.  Don’t just assume the associations bylaws and insurance policies are the same.

Consider all Your Insurance Options

You can receive a discount on your premiums if you package your car and condo policies together same insurer.  You will likely be offered condominium insurance coverage through the company that insures the whole building. While this may be useful to make sure all gaps are covered as they know the policies – you’ll still want to make sure your contents and liability limits are adequate.

The buildings insurer may be more expensive and their autos may be more expensive.  So, it’s best to have a local independent agent look over the hazzard insurance policies and run some quotes.  Most condos and town home master policies are written by captive agents who represent only one company.

There are ways to get your insurance lower by paying a higher deductible will lower premiums, as will allowing your provider to deduct your payments from your checking account. New safety and security devices in your unit can make you safer in your home while lowering your rates.

For more info on the available and various condos in Minneapolis

For a condo insurance quote or questions call 61.460.7796 and speak with a downtown condo insurance specialists.

 Insurance Quotes MPLS Condos

AAA Minneapolis Associates are HALF PRICE – through Labor Day

If you have AAA Minneapolis – associates are half off till labor day…

Also, AAA Minneapolis now offers Bicycle roadside assistance. If a member is out riding and their bike becomes disabled, AAA Minneapolis will provide transportation for the member and their bike*

 

 

AAA MinneapolisCall 612.460.7796 for AAA Minneapolis Membership

Insurance in Minneapolis

The best way to get insurance in Minneapolis – Great Rates for All Drivers and Homes

Minneapolis Insurance

Minneapolis Insurance Specialists represent many companies – not just one. It makes getting affordable rates easier.

Great Auto Insurance and Homeowners in all Minneapolis and Minnesota

Call 612.460.7796 for Insurance in Minneapolis. Auto or Home Insurance for people living in Minneapolis and all of Minnesota. We professionally select rates from some of the best companies licensed in Minnesota including AAA, ASI, Allied, Encompass, Dairyland, Foremost, Integrity, Safeco,Travelers, West Bend and Progressive. We offer the best coverage at the lowest price – not cheap policies for a good price. We know how to get all the discounts and get insured.

We write auto insurance for all drivers. We have companies that offer many discounts that are specially designed to get best bottom prices for the preferred driver. We offer have programs for the driver that is inexperienced or has not had recent insurance or has tickets or accidents or is required to prove insurance to the State with a SR22 certificate. We offer non-owners or named operators insurance for the driver required to carry insurance but does not own a vehicle. We have companies that offer ATV, Boat, Cycle,RV and Classic car Insurance. For Home or Residence Insurance we have companies that will do builders risk, secondary homes and cabins. We guarantee the best Condo, Townhome and Renters Insurance coverage and prices.

Don’t settle for those companies that spend a ton on advertising and only represent one company. Don’t pay high insurance prices for those Super Bowl Commercials. Get choices and options. CALL 612.460.7796 for your Insurance in Minneapolis.

Minneapolis Auto Insurance Guide

This article will help you learn the basics when it comes to buying auto insurance. It will help get you get better coverage and lower prices.

Minneapolis car insurance

Intro: What is Car Insurance?

Auto Insurance is insurance purchased for cars, trucks, motorcycles, and all other land based vehicles. Its primary purpose is to protect you financially against physical damage or bodily injury resulting from accidents like traffic collisions and from the liability that could also arise later on. The specific coverage and terms of vehicle insurance vary with legal regulations from state to state. In some cases, car insurance can include financial protection against theft of you car or even damage to the vehicle that has been sustained from something other than traffic collisions like hail or other weather damage.

Common Types Of Car Insurance:

Liability Coverage: This coverage is used to protect you from liability resulting from accidents you may be liable for or have caused. It’s important to not that most states have minimum liability limits and were set decades ago. These limits may not be enough to protect you and you’re assets. Many insurers use prior liability limits as a rating factor and you could actually get better rates for carrying higher limits and obviously better protection.

Coverage for Your Vehicle:

Collision and comprehensive coverage are optional. However, your auto lender or lease holder may require you to have this coverage until you’ve paid off your vehicle.

Collision coverage helps pay for damages that your car may suffer in an accident.

Comprehensive coverage helps pay if your car is damaged from causes other than a collision. Theft, vandalism, falling objects and hail are commonly covered by this type of coverage as well.

Additional Coverage Options:

In addition to liability, comprehensive and collision coverage, there are other coverage options that can help keep you protected.

Medical payments coverage, for example, can help pay the medical bills you or your passengers incur if you are injured in an accident.

Personal Injury Protection, often called PIP, can also help reimburse you for lost income if you’re unable to work due to an injury that results from a car accident. It may also reimburse you for child care expenses if you’re unable to take care of your children following an injury.

Uninsured and underinsured motorist coverage can help cover your damages caused by someone with limited coverage, or no insurance at all.

Other coverage an auto insurer may offer include towing as well as labor coverage, which helps with the cost of towing your car if it breaks down or gets a flat tire, rental car reimbursement, which can help cover the cost of a rental car while you wait for your covered car repair to be finished, and even sound system coverage for those drivers who install aftermarket stereo equipment in their cars.

Choosing A Car Insurance Company and where to buy:

Choosing the correct coverage is the first step. You must also choose a good car insurance company if you want to maximize the chance that your claims will be paid. Look for the following qualities when choosing your car insurer.

Reasonable and Reputable – Insurance carriers should be reliable and reasonable for the coverage and the prices they charge. Who needs hassle at claim time.  A cheap policy for a good price is not what you need or want. You need and  want the best coverage at the lowest cost.  So, if you ever need it – you have it.  Why pay for anything that falls short and ends up costing you a fortune if you are ever involved in an accident and are short. In some states, there isn’t much difference in price among insurance companies due to state mandates. In most states, however, companies will quote different prices for similar coverage.

Is it better to buy online? – Many online sites just aggregate information and sell it to many agents and insurance companies.  If you buy direct even fro a seemingly reputable company – you become your own agent.  If you make a mistake or need help – you are on your own.  Insurance agents are required to have E&O insurance to protect them and you if a mistake is made.  Why settle for less safety and service? It doesn’t cost you more to have an experienced or good agent either.  It’s all the same.  So, why would you not use a good experienced local independent agent?  Why not an agent who represents many companies – not just one brand. The insurance companies are the only

Miscellaneous Tips: 

Use a local independent agent. They generally have the most experience and represent many companies – not just one.  So, you don’t have to spend all your time shopping and giving your info to who knows.  One thing that most people fail to do is research the agent or company that they purchase insurance from. The better business bureau is one of the best sources to find out if you car insurance company is a reputable organization.  You can also look agents up on many states commerce sites.  Even further, it’s a good idea to check a company’s financial strength (which directly impacts their ability to pay out your claims) through rating services such as A.M. Best. Don’t take advice from uncle cheap skate Charlie or some know it all at someone at work.  Consult an insurance professional.  Most experienced agents will have a designation after their name like AAI, CIC, CPCU.

If you are going to use the internet – use it to check reviews and do research – not to purchase auto insurance.

Minneapolis Auto Insurance Specialists Team

Upcoming 55+ Driver Improvement Program Classes

Driver Improvement Classes

 

The MN Hwy Safety & Research Center has an opportunity for Upcoming 55+ Driver Improvement Program Classes
Today more than ever people are budget conscious. MN Statute 65B.28 enables all drivers 55+, who complete an approved accident prevention course, to earn a 10% auto insurance discount. https://www.revisor.mn.gov/statutes/?id=65B.28

For the MN Hwy Safety & Research Center, even more important than the discount, is DRIVER SAFETY. Drivers 55+ may not have ever taken a driver’s education course or it has been some time. Our Driver Improvement Program classes (DIP) is offered throughout MN and is designed to be informative, interesting and provides the latest information on crash data trends, defensive driving tips, changes in laws, changes in vehicle technology, and traffic safety resources.

We invite you to our 55+ DIP driver improvement classes in your area.

To find out more about how we can help make MN road and motorists safey, or to register for a driver improvement class, go to www.mnsafetycenter.org (click on Driver Improvement Program) or call  1-888-234-1294. As an added service, we remind clients when it is time to renew. The fee for the 4 hour refresher course is $20.00 per person; the 8 hour full course fee is $24.00 per person.
Also, check out how we are making a positive impact on teen driver crashes with our advanced Teen Driving Skills class. www.mnsafetycenter.org (click on Youth Driving)

PS. For your information, the MN Drivers Manual for the driver improvement program classes can be found at www.dps.state.mn.us/dvs as the manual is no longer printed.

Class scheduled between 4/4/2013 and 7/15/2013
1: Minneapolis and Suburbs

Driver Improvement Program Classes
We Are AAA Independent Agents for MN and WI

 

 

 

 

 

AAA Minneapolis
5400 Auto Club Way, St. Louis Park

Driver improvement program classes

Minneapolis Home Insurance Tips

Things you should know about your Minneapolis Home Insurance

Don’t wait until you need to file a claim after a disaster to find out what’s covered and what’s not covered.

1. Is your Minneapolis home insured to replacement? This is one of the most misunderstood concepts and causes the most issues at claim time. Because home values have fallen in recent years – it has been possible to purchase a home for say $100,000 and to build new or rebuild would at replacement cost would be $200,000. Many people, including some mortgage people and realtors don’t understand the replacement value, market value, assessed value. When it comes to your Minneapolis home insurance – replacement cost is all insurers and you should should consider.

If your home isn’t insured to replacement value – it’s insured for $100,000 and should be $200,000 – for example, and a storm damages your roof and it need to be replaced for 12,000 – you will receive $6.000 minus your deductible. Your home is only insured at 50% of replacement or for half. Be sure to have your agent show you the replacement cost estimate from the insurance company.

2. Are your contents and possessions insured to replacement cost or actual cash value. If all your things are destroyed in a disaster or other loss – will they be replaced at cost or pennies on the dollar?

It’s a good idea make sure collectibles and valuables like jewelry are covered correctly. Most Minneapolis home insurance policies have limits and things like expensive wedding rings will need to be scheduled for higher values to be insured to the higher limits.

Its a good idea to video your contents and store it in the cloud or at a relatives. It makes it easier at claim time and makes you aware of what may need special attention like antiques or collections.

3. Review your policies and keep up with inflation. This is important for your home insurance – especially now as many insurers are switching to ACV “Actutal Cash Value” for roofs over 10 years old. As most people never read their policies – they may not even know it is on their policy or has been changed. Talk to your agent to verify your coverage amounts are realistic.

If you make any improvements, add a pole barn, finish a basement,a pool etc., call your agent. Don’t assume things are automatically covered. This includes snowmobiles and other common things in your garage people tend to assume are automatically covered on the policy.

4. If you own a condo or town home – make sure you know associations deductible. Many have raised them to keep the rates down and many of the big insures have gone from per occurrence to per unit deductibles and you could have a huge gap or assessment. Know what your policy covers and what the association covers. HO4 and HO6 policies are the most misunderstood and under insured home policies. It usually doesn’t cost much more to insure correctly.

Considering condo owners will want their contents policy to cover things like cabinets and fixtures, they need a bit more insurance than the typical renter. Most basic condo and renters policies come with a minimum amount of contents coverage and they vary from company to company – check yours.

5. If you are a renter get renter’s insurance. Most often the savings on your auto insurance with the discount is less more than the cost of renters insurance. You can get better insurance and actually pay less. These come with minimum contents coverage too. You will want to see if it is enough and schedule expensive jewelry, collections, etc.

6. Do you need flood insurance? If you live along Minnehaha creek, the river or some area prone to flooding. It pays to know that home policies do not cover floods.

7. If you have a high net worth – you will want to get an umbrella policy. They generally cost around $150 a year for a $1 million dollar umbrella policy.

Read more: Minneapolis Home Insurance
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Minneapolis house insurance

Minneapolis Home Insurance
For your Minneapolis Home insurance call Minneapolis home insurance specialists 612-460-7796

Tips to Lower Your Minneapolis Car Insurance

These tips will help you help you lower your Minneapolis Car insurance.

We all want to reduce our monthly expenses. The good news is that while the monthly costs for just about everything seems to be going up, your car insurance rates may have some room to come down.

The average driver can spend up to $84,000 in a lifetime on Minneapolis car insurance, according to a February 2011 posting on the Motor Trend magazine’s website – a figure that could be reduced if you know how to save on your car insurance policy.

Click to get Minneapolis Car Insurance Quotes from the insurance specialists team and all their top insurance carriers now.

“The average yearly auto insurance premium for Minnesota is $742, but there is wide variation around this average,” says Loretta Worters, a vice president of the Insurance Information Institute (III), an organization dedicated to improving the public’s understanding of insurance. “Many factors can affect your premium.”  Minneapolis car insurance and St. Paul car insurance tends to be higher than out state MN.

Check out these ways of saving on your Minneapolis car insurance to see how you can reduce your car insurance.

#1 – Get a Variety of Quotes

Be cautious.  You don’t want to do this incorrectly as most people do at least once.  Some of these ads and sites make it sound like such a good idea – having agents compete, etc.  It’s not a good idea.  Here’s why.   Entering all your details into just any site will likely get your information sold to a bunch of different agents and companies.  You don’t want to just go online and start requesting quotes or start calling agents. This can be a huge pain and who wants to talk to a bunch of agents or go to a bunch of different sites and enter all your personal info all over the web?  Spending valuable time trying to figure everything out and who to trust – who needs it.

Of course, we recommend using a local independent agent who represents many companies – not just one.  Why wouldn’t you use the easiest way and get many quotes from an experienced local agent who you can trust.  They’ll know which company currently offers the best prices for you and the area you live. It’s the easy way. It doesn’t cost more to use and expert and will likely save you a ton and you’ll have a local Minneapolis car insurance expert on your team.

#2 – Start By Getting A Quote With All The Discounts Available To You

Don’t wait until the last minute or when your policy is close to renewing.  Many companies offer discounts for getting quotes in advance of your policy expiration – usually 14 -30 days before your policy expires.

Get multi policy quotes.  Many people make the mistake of just checking auto or home rates and if they are good will look at saving on other lines.  This is a common mistake.  You will almost never get the best prices without multi policy or package discounts.  Some insurers will only offer auto and home insurance as a package.  Many times they are the ones with the best prices.  Almost all insures will charge more for stand alone policies.

Each carrier is going to offer a variety of discounts like the Snapshot discount from Progressive, or the AAA membership discount, or the Alumni association discount, the longevity discounts – sometimes it pays to stay, some insurers may offer a discount to employees of certain companies, discount for teachers, or because you belong to certain clubs or organizations, all insurers these days offer discounts for having excellent credit – if your spouses is higher than yours – have them get the quotes – many companies will use the highest credit score.  There are a ton.

A good agent will know how and where to get the discounts and apply them to your quote – but, you should still ask.

#3- Raise Your Deductible

An easy way to get immediate savings could be changing your deductibles.  Don’t be afraid to raise your deductibles.

Increasing your deductible from $250 to $500 or from $500 to $1000 could reduce your collision and comp. coverage cost by 15 to 30 percent.  Going to a $1,000 deductible can save you 40 percent or more.  Some of these lower deductibles are kind of antiquated and raising them and keeping a reserve set aside could save a lot and a reserve will keep your anxiety level down.  Truth is you will likely save moire than your reserve amount of the higher deductible the first year.

The reason that higher deductibles may result in lower monthly rates is because a higher deductible means you will assume more risk, less apt to make smaller claims an insurance company will end up paying a smaller amount in the event that you file an accident claim.  Higher collision deductibles seem to save the most – so, check $500 comp and $1000 collision.  In MN chances are a deer or hail storm will damage your vehicle before you run in to another vehicle.

#4 – Keep Your Record Clean.

Obviously, keep your accidents and tickets down.  However, some companies will check back 35 months some will go five years or some other amount of time.  Some insurance companies will charge more for DWI’s for example, then others.  It pays to check.

We encourage you to check the easiest way to discover if you can lower your Minneapolis car insurance call the Minneapolis Insurance Specialists Team 612-460-7796 or go to lower my Minneapolis Car Insurance site and get some quotes easy, fast, and local.

Use a Minneapolis Car Insurance Expert

 

 

 

 

 

Minneapolis Insurance Specialists Team

333 Washington Ave. N. Ste. 300

Minneapolis, MN 55401

612.460.7796

Your Minneapolis Car Insurance Experts