Here’s What You Need to Know About Service Line Coverage

Here’s What You Need to Know About Service Line Coverage

We’ve been receiving many questions regarding service line coverage. Maybe you’ve been wondering about it too?  That is why we, at The Insurance Specialists Team, will provide you with some valuable information to help you understand what you need to know about service line coverage.

What Service Line Coverage Is

Service line coverage is insurance that protects you from the costly expenses of repairing or replacing damaged service lines that you are responsible for within your property. As damages can occur quite unexpectedly this will help you cover the cost for repairs and replacements.

The Insurance Specialists Team has options for you if you feel you need the coverage for better coverage than offered from others at an affordable cost.

Should you consider getting a Service Line Coverage?

Many are unaware that basic homeowner insurance policies do not cover the costs for repair and replacements, so it is best to consider getting a service line coverage. And did you know that as a homeowner, damages of service lines in your property are not your provider’s responsibility but yours? 

When something goes wrong with your service line, repairs and replacements can cost you thousands of dollars. For example, the average cost for replacing a broken water service line is $3,000 and more depending on other factors.

By adding the right service line coverage, usually just an endorsement on your policy, you can protect yourself and your family from these unexpected and very costly expenses. 

A glance at a typical homeowner’s service line responsibility:

Here’s what is usually covered 

As a homeowner, you may have coverage for the following types of service lines within your residential property:

  • Water 
  • Waste Disposal
  • Drainage
  • Heating
  • Electrical Power and Communications
  • Compressed Air

These are for damages caused by:

  • Wear and tear 
  • Rust and corrosion
  • Mechanical breakdown 
  • Freezing or frost heave
  • Tree or other root invasions

There may be exclusions

It is also important to note that there are specific exclusions to the policies you’re going to avail- so it is best that you discuss the specifics of the coverage first. Septic tanks, on-site wells, service lines that extend beyond the homeowner’s point of connections to the main service, and any shared utility lines that provide service to multiple properties are often not covered.

How much will service line coverage cost

The Insurance Specialist Team represents many insurance companies like Safeco that offer better service line coverage for as low as $35. The coverage provides a limit of up to $12,000  for common causes of service line failure with a  $500 deductible applied. 

Many insurance companies don’t provide service line coverage. However, we represent many home insurers that do offer coverage. It’s generally better coverage and you can get it for less. We will make it easier for you to find affordable coverage options you can avail for a few dollars per month that will save you thousands of unexpected repair and replacement costs.

If you have questions or need more information feel free to contact IST for a no-obligation quote. We know you’ll be pleasantly surprised!

MN home owners are paying too much for their home insurance.

Read This Immediately Because It Directly Affects You!

Home Insurance Minneapolis

MN home owners are paying too much for their home insurance.

If you’ve received your renewal notice – you may already know home insurance has gone up the last few years – through the roof. Most people don’t just have time to review their insurance.  So, they don’t and overpay. Public records show your home insurance may be coming up for renewal in the next 60 days. Take advantage of this easy opportunity to save money on your insurance – without sacrificing coverage or time.  You’ll love how easy it is here.

Compare the quotes below to see how much you can save!

Coverages                                   Option A           Option B           Option C

Dwelling                                        $200,000           $300,000           $400,000

Other Structures                           $20,000              $30,000              $40,000

Personal property                         $150,000           $187,000           $300,000

Loss of Use                                     $40,000              $60,000              $80,000

Personal Liability                         $300,000           $300,000           $300,000

Medical Expense                           $5000                 $5000                 $5000

Deductible                                     $1000                 $1000                 $1000

Annual premium                       $635               $857               $1079

You can get quotes from many companies – easily from one local agency.  We have one carrier offering great rates in this neighborhood right now. Get control of your insurance prices.  Call now while this is on your mind.

www.minneapolisinsuranceteam.com  or  612.460.7796

P.S. Changing is easy.  We will contact your bank and current agent for you!  This is not a binder or contract for coverage.  Several price discounts are included in this sample, your rates may vary.

Insurance Brokers

Why it’s a good idea to use Insurance Brokers

Independent agents
Use Insurance Brokers for better coverage, bigger savings, and best service

One of the benefits of shopping for insurance using an independent agent or insurance broker is they generally represent many companies – not just one.

So, you don’t have to spend a lot of time going online and filling out forms or locating a number. You don’t need to deal with all kinds of agents, insurance companies, quotes, and trying to figure everything out by yourself. Like which is the best deal as far as coverage and price. Leverage an independent agent or broker

Using an “indendent agent” or “insurance broker” (these terms are often used interchangeable and generally mean the same thing.) However, an insurance broker in some areas just finds good quotes and doesn’t offer advice or service after the sale. Where as an independent agent is like a captive agent who represents just one company – independent agents represent many insurance companies. They also offer advice and service after you purchase a policy. An independent agent offers more choices of carriers and options.

A good insurance professional, whatever they are called or how many companies they represent, will most often have a designation like “AAI” Accredited Advisor in Insurance, “CPCU” Charted Property Casualty Underwriter, or “CIC” Certified Insurance Counselor. There are other designations too. The main thing this signals is that you are dealing with an experienced and knowledgeable insurance professional. They don’t cost anymore to use. Why not have the best?

Many times it makes more sense to shop for a good agent verses shopping for quotes.

There are many insurance professionals at The Insurance Specialists Team. They not only have designations and experience, they specialize in areas like auto and home insurance, commercial insurance, health insurance, life insurance, workers’ compensation. So, if you have many needs you can find good agents and quotes all in one place. Call 612.460.7796 speak with a specialist today and save easy and fast with a local insurance professional.

Insurance Brokers
Get Auto and Home Insurance Quotes

Universal Home Insurance

Universal Property Insurance

The Insurance Specialists Team is proud to announce we now represent Universal Property and Casualty Insurance!

For A Universal Home Insurance Quote call 612.460.7796 or Online

Minneapolis Universal Insurance

Homeowner’s Policy Designed for dwellings occupied by the owner

Dwelling Coverage Protection against covered perils such as wind, hail, lightning, or fire

Renter’s Policy Designed to cover contents in a rented dwelling

Condominium policy designed to provide coverage for owner occupied or tenant occupied condominiums

Ask the Insurance Expert

Insurance in Minneapolis

https://earn.show/askexpertsleeper/352/tim-peddycoart-with-insurance-specialists-team/

 

Tim Peddycoart  with Insurance Specialists Team in Minneapolis explains how an independent insurance agent can help you meet personal and business goals. You can reach Tim at (612) 460-7796 and his website is https://minneapolisinsuranceteam.com/
Minneapolis Insurance Specialists Team
333 N Washington Ave, Minneapolis, MN 55401
(612) 460-7796

Minneapolis Insurance Team

Independent agents represent many companies and provide choices and options.

A business or a person’s insurance needs can be unique. An independent agent can help tailor a policy that not only covers you.  It makes it easier to get you or your business the best prices.

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

 

 

The Truth about Water Damage

Most policies don’t come with backup of sewer and drains coverage.  It’s true.  Do you have this coverage?  How much do you have?

According to the Insurance Information Institute – most homeowner and business insurance policies do not cover sewer backup unless specific sewer backup coverage is added to the policy.

Tim Peddycoart – home insurance specialist for the Insurance Specialists Team says to “Check and find out if you have this important coverage on you policy and how much insurance coverage you have available. It’s inexpensive coverage and always seems like a bargain after a loss”

If you have a backup and water damage in your condo or home it can be a big and an expensive mess. It’s a common loss and most policies don’t include coverage for it or don’t provide not enough coverage. You can usually add more coverage to better address your need with an endorsement.  Some basements and lower levels are fully finished and/or store valuables. The cost to replace or restore is often not considered – until it’s too late.

This coverage is needed on condos and townhomes too.  The shared pipes can backup and damage connected units and dwellings below. The master policy likely does not cover this peril.

The cost to add backup of sewer and drain coverage is approximately $20 to $50 a year.  Thomas McAlpine from 24 restore reports “The average loss from water damage is $10,000.”

Check the video below for the truth about water damage. What can be saved?  What should you do first?  What is the minimum amount of coverage one should include? What does it cost?

 

For more information on home insurance call the Minneapolis home Insurance Specialists Team 612.460.7796 get an online quote or start up an online chat.

What to do if you Experience a Sewer Backup

A sewer backup can lead to disease, destruction of your valuables, damage to your house or business, and can even result in electrical malfunctions. Prompt cleanup of the affected property can help minimize the inconvenience and prevent mold and further damage. In the event of sewer backup, turn the water off and immediately arrange for the cleanup of your property. This should include:

•Wet-vacuuming or removing spillage
•Mopping floors and wiping walls with soap and disinfectant
•Flushing out and disinfecting plumbing fixtures
•Steam cleaning or removing wet carpets or drapes
•Repairing or removing damaged wallboard or wall covering
•Cleanup of ductwork

Homeowners and business insurance do not cover flood damage: Only flood insurance will cover your losses in the event of a flood.

If you have water damage… Call 24 restore Office (612) 255-9578 | Toll Free (888) 804-2785  The quicker the damage is mitigated the lower the cost and damage.  Call your agent or 24 restore right away.

Staying safe on the road during a hailstorm

It sounds surprising, but there are approximately 3,000 hailstorms in the United States each year. The size of hail can widely vary – from golf-ball size to softball size. And when it starts building up size, hail can cause not just severe property and vehicle damage, but also bodily harm and even death. On average, hailstorms annually cause over $1 billion in damage to property, approximately 1,500 injuries and 80 deaths annually.

Hail Damage

One of the most frightening places to be during a hailstorm is on the road in your car. Obviously your vehicle is at great risk of damage, but even more importantly, you are in danger in the event you can’t see well enough to drive or your windows are broken in by the power of the storm.

 

 

 

 

 

At Insurance Specialists Team, we want to ensure you, your loved ones, and your vehicle stay safe this hail season. Here are some pointers for navigating a hailstorm while on the roads in Minnesota.

 

  • It’s not a bad idea to have a blanket in your car at all times. It can help protect you from glass injuries in the event the hail breaks your windows  or windshield.
  • Turn on your low-beam headlights, and slow down.
  • Make sure you have more distance than usual in front of you so you have ample space to brake if necessary.
  • Turn on the local weather radio station to stay apprised of the status of storms.
  • If there is enough space on the shoulder of the road, pull over.
  • Turn on your hazard lights, regardless of whether you are pulled over or moving slowly; this will help other vehicles to see you and avoid accidents.
  • If there is a covered shelter to pull underneath, do so; this will reduce the damage sustained by your vehicle.

At Minneapolis Insurance Specialists Team, we hope you stay hailstorm-free this season!

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