Insurance Blog

Condo or Condon’t – Condo Townhome Insurance HO6 policy

Condo or Condon’t — Condo Insurance

condo insurance

You’ve taken the plunge and opted for condo or townhome life. Now that the papers are signed, it seems like everything is taken care of for you—building maintenance, roof repairs, landscaping, insurance, etc. It’s time to relax because everything is covered, right?

Not quite. The insurance policy provided by the condo association covers the building structure and common areas, but what about potential structural damage to your unit and covering your belongings? Are your contents and liability covered?  Do you have enough loss assessment coverage?  Is your policy wall to wall or?

Without a personal condo insurance policy, you could be left high and dry if your unit floods, is damaged in a fire, etc.

Many associations in an effort to keep prices down have taken policies with large association loss assessment deductibles – most likely your association has a large deductible and reduced coverage. Sadly, because the vast majority of residents don’t review or understand their policy they won’t find out they have large gaps in their coverage until claim time.

Most condos need two insurance policies.

Master Policy: Generally provided by your condo association, this policy covers the physical structure of the building, including basement, roof, walls, elevators, lobbies, etc. Coverage usually includes both physical damage and liability. Get a copy of the policy so you know what’s covered.

Personal Condo Policy: This will cover additional structural damage to your unit, including cabinets, appliances, personal belongings, and more. This also covers living expenses if you fall victim to a fire, theft, or other covered disaster. Many insurance carriers offer enhancements that include personal property protection in your condo insurance policy. Policies with full Value Contents protection will pay the full replacement cost of your belongings, not just what they are worth today. Sometimes the difference between a policy with great coverage and a policy with little coverage is $10-$60 – which seems like a real bargain at claim time.

Other coverage to consider:

Umbrella Policy: If someone were to trip and fall inside or near your condo, they could sue both you and the condo association. Umbrella provides additional layers of liability protection and can protect against lawsuits that target both your current and future earnings.

Flood insurance: Read the fine print on your policy. They often won’t cover damage due to these disasters. Additional coverage may be required if you live in a prone area.

If you’d like a review of your policy please call 612.460.7796 and speak with a condo insurance specialist.

Reference: Sea Pines real estate.

Safeco Workplace Discount Program

Great News!  We think you’ll love this 🙂

Expand your employee benefits package with exclusive savings on auto insurance.

We have a special deal that saves up to 30% on your insurance with workplace and other discounts.

As an independent insurance agency, The Insurance Specialists Team represents multiple carriers – not just one. This allows us to offer your business and your employees the best options for competitively priced insurance.

Working in partnership with Safeco Insurance®, one of the insurers that The Insurance Specialists Team represents, we’re pleased to offer an easy and convenient option that enhances your employee benefits package by helping your employees save on auto insurance – at no cost to you. The Safeco Insurance Workplace Discount Program offers your employees exclusive savings on Safeco® Auto insurance on top of the discounts Safeco already offers.

Safeco Insurance has been protecting individuals and families since 1923 and, in addition to auto insurance, offers:

  • Comprehensive auto, antique/classic car, home, motorcycle,  boat and RV coverage
  • 24/7 claims service
  • 24/7 Customer Service
  • Online account management tools
  • Local Insurance Specialists

We’ve made implementation easy. There is no cost to you, and your employees will have access to some of the best prices Safeco has to offer, making the Safeco Insurance Workplace Discount Program an easy choice for your business.

And as an independent agency, we are not employed by any insurer, which allows us to work on your employee’s behalf to help get them the coverage they need, even if the Safeco Insurance Workplace Discount Program isn’t the best option.

Please call IST today at 763.244.3735 to find out how to get started.

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

 

 

I had a Car Accident – What Do I Do?

Having an accident is no joke. There are many accidents each year and sadly many die  because they were in a collision.  It is important for all drivers to understand just what they need to do if they have been involved in an accident large or small.

Auto Insurance MPLS

 

 

 

 

 

 

 

 

 

The first thing to do is remain at the scene of the accident. Call the police as they will need to make a report of what happened. If you have a camera phone on you and you’re okay then consider taking some pictures. The police will do this as well so it is important to have enough evidence for your auto insurance claim.  Exchange insurance info and ask everyone involved in the accident for their information such as license plate number, driver’s license number, name, address and telephone number.

The second step is to get checked out by an EMT to make sure you’re okay. Many accident victims even those with minor injuries refuse to get medical treatment only to find out they have issues later.  You could be okay one minute and then drop dead the next. Your medical bills could be an issue if it isn’t documented as an accident related injury.

The third step is to go home and call your car insurance agent or  company. A claims representative is usually available 24 hours a day to talk to drivers and begin the claims process. Make sure to have your policy information readily available to help speed up the process.

The fourth step is to make a list of everything that happened. It is important to make notes while everything is fresh in your memory.  Once this is done, you can provide an accurate and clear statement for the insurance adjuster handling your claim.

The fifth step is to give an official statement to your adjuster. Do this as soon as you can to begin the claims process. It’s best to report an accident sooner than later if possible as stories can change.  Don’t just take the drivers word that they were at fault and will make it right.

The sixth step is to wait for the claims adjuster to begin to evaluate the claim. It usually takes about a week for a claims adjuster to get back to a driver about a claim. Be patient, especially if the car accident was serious. The adjuster will need to determine who was at fault and that can take a while in some situations. They generally try to recover your deductible if you were not at fault. Once the claim has been completed, a driver will receive their compensation check if the insurer feels that they are entitled to one. Once the check is cashed and no appeal is requested the claim is closed.

Always keep your auto insurance cab cards in your vehicle and up to date.

Contact Heninger Garrison Davis for auto accident injury claims in Birmingham or go to HornsbyWatson.com.

Related: Workers Compensation Lawyers Near Me.

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!

Shopping for the Safest Vehicle

If you’re like most folks shopping for a new vehicle, safety ranks high among things you’re looking for – especially with all the texting and other distractions on the road. Every new car must meet certain federal safety standards, but that doesn’t mean that all cars are equally safe. There are still important safety differences, and some vehicles are safer than others. Many automakers offer safety features beyond the required federal minimums. Find out more about what safety features should be considered when purchasing a car.

Safety Features

When you think about buying a new vehicle, chances are you spend a good deal of time thinking about what kind of vehicle you’d like to buy, what color and the “must-have” features. But don’t forget to consider a vehicle’s safety features, too!


1. Crashworthiness: These features reduce the risk of death or serious injury when a crash occurs. You can get a rating of crashworthiness from the Insurance Institute for Highway Safety’s Web site at http://www.iihs.org.


2. Vehicle structural design: A good structural design has a strong occupant compartment, known as the safety cage, as well as front and rear ends designed to buckle and bend in a crash to absorb the force of the crash.

3. Vehicle size and weight: The laws of physics dictate that larger and heavier cars are safer than lighter and smaller ones. Small cars have twice as many occupant deaths each year as large cars


4. Anti-lock brakes: When you brake hard with conventional brakes, the wheels may lock and cause skidding and a lack of control. Anti-lock brakes pump brakes automatically many times a second to prevent lockup and allow you to keep control of the car. Anti-lock brakes may help you keep steering control, but they won’t necessarily help you stop more quickly.


5. Daytime running lights: Daytime running lights are activated by the ignition switch. They are typically high-beam headlights at reduced intensity or low beam lights at full or reduced power. By increasing the contrast between a vehicle and its backgrounds and making the vehicles more visible to oncoming drivers. Experts at Thon Beck Vanni Callahan & Powell LLP saying these lights can prevent daytime accidents.


6. On-the-road experience: Other design characteristics can influence injury risk on the road. Some small utility vehicles and pickups are prone to rolling over. “High performance” cars typically have higher-than-average death rates because drivers are tempted to use excessive speed. Combining a young driver and a high-performance car can be particularly dangerous.

Whether new or used, buying a car is an investment. Make sure your vehicle is properly protected by calling our office in Dubai today to learn more about all of our insurance solutions for your auto, home and life.

Safety

Belts, airbags and head restraints all work together with a vehicle’s structure to protect people in serious crashes. Lap/shoulder belts hold you in place, reducing the chance you’ll slam into something hard or get ejected from the crashing vehicle. If you aren’t belted, you’ll continue moving forward until something suddenly stops you – often a hard interior surface that will cause injuries. Consider the vehicle’s safety belt, airbag and head restraint features when shopping with safety in mind.

 

 

Minneapolis Car Insurance

Life Insurance Protection and Peace of Mind

Your Life Insurance

If others depend on you for financial support, part of your financial plan should include how you will provide for them in the event of your death. Don’t put it off. The longer you wait will cost you more, much more if you have a health issue between now and then. Even worse – you never get around to it and everyone says what a shame at the funeral. Purchasing a life insurance policy is a safety net that ensures your loved one’s future financial obligations are met, covering items such as funeral costs, outstanding debt, estate taxes and everyday living expenses.

If you are married, it’s important for both spouses to have a life insurance policy. If both people bring in an income, a death can be a difficult financial loss. Also, if a stay-at-home parent should pass away, expenses such as childcare and other domestic items can create financial hardship, too.

There are two basic types of life insurance: term life insurance and permanent life insurance. The type of life insurance policy that best suits you will depend on your unique needs. To help you decide, we’ve covered the basics.

Option #1: Term Life Insurance

Just as its name implies, term life insurance covers you for a specific period of time, or term, that you choose. Since it offers a death benefit but no cash value, term life insurance is an inexpensive way to protect your beneficiaries for a specified period of time.
It is ideal for those who have a temporary need for life insurance protection, for those who need a large amount of insurance protection but have limited cash or for those with specific business needs, such as additional coverage for a key employee.
Renewal term life insurance can be renewed at the end of the term, at the option of the policyholder and without evidence of insurability, for a limited number of successive terms. It can also be converted, or exchanged for a permanent insurance policy, without evidence of insurability down the road.
With term life insurance, once the term expires, your coverage ceases and the policy has no further value. It’s important to note that rates generally increase along with the insured’s age.

Option #2: Whole Life Insurance

Permanent life insurance is any form of life insurance other than term. Examples are whole life, universal life and variable life. These policies combine term life insurance with a long-term, tax-sheltered savings plan.
Whole life is the most basic type of permanent life insurance. It provides coverage that lasts a lifetime and also builds up a cash value that you can borrow against, withdraw or use to pay future premiums.
A life insurance policy with a cash value is ideal for those who have a lifetime need for insurance protection, prefer stable premiums over the life of the policy, want a policy that allows them to build tax-deferred values, and value the high degree of coverage the policy affords. While rates for a whole life insurance policy remain stable over the life of the policy, premiums are initially more costly than for term insurance.
Regardless of whether you choose a term or permanent life insurance policy, both can afford protection and peace of mind knowing you have the coverage when you need it most. Call us today at 612.460.7796 to learn more.

 

 How much Life Insurance do I Need?
Good question! To find the right amount of coverage, it’s important to weigh your dependents’ current lifestyle and spending needs against their future sources of income and assets. Based on some basic financial information, such as your current annual gross salary, the number of years until retirement, and your short-term and long-term expenses, we can help you figure out how much your family will need to replace this lost income over this length of time should something happen to you.

Even if you already have life insurance through your employer, you may be underinsured. If you’d like the security of knowing that you have enough life insurance coverage in place, we can work with you to ensure that there aren’t any gaps in your current coverage. Don’t Wait! 612.460.7796

Auto Insurance Comparison through an Independent Agent: Getting the Best Value

The standard way of shopping for anything is deciding what you want and then comparing the prices offered by different stores, companies or providers before making a purchase. And in the auto insurance industry too, a meticulously research, shopping around and rate comparison can help you to save loads of money. In fact, to get the best deal car insurance, the rule is to determine the coverage amount you need, get coverage recommendations and quotes from as many providers as possible, and conducting scrupulous like-for-like policy comparisons, before making your choice. Making a thorough auto insurance comparison will allow you to identify and choose a policy that will give you the biggest savings.

Auto Insurance Compare: Steps of Making Your Cost Comparisons

The auto insurance market has become increasingly competitive, compelling providers to offer amazing deals to their clients. Therefore, if you shop around smartly for your car insurance policy, you are likely to make huge savings. The first auto insurance compare step is asking for quotes from as many reputable providers as possible. As a rule, you should never compare quotes from less than three car insurance companies. And once you receive the quotes, assess them line by line in order to be sure that you are comparing apples with apples. The second auto insurance compare step is comparing the limits of liability coverage provided by every policy. The best policy should have the lowest cost but the highest liability coverage in order to meet the costs of accident-related damages. Higher limits will increase your insurance score too. The third step in the comparison is to check for the size of the deductible, your eligibility for discounts and how you will be covered if you involve in an accident with an uninsured driver. While this process is good it can be time consuming and there could be some traps like giving your info to who knows who and having it sold?

Getting the Best Auto Insurance: Why You Should Use an Independent Insurance Agent?

An easier way and safer way…Apart from saving money on the cost of insurance through policy comparisons, you can benefit greatly from the help and advice of a local independent auto insurance agent. Independent insurance agents represent several car insurance firms and can quote a broad range of insurance products. The agents are professionals in the field and usually have the opportunity to study different insurance carriers in order to match the needs of their clients with the most relevant coverage. In fact, if a policy is only competitive and attractive in the first year and is costly in subsequent years, an independent agent will notice the anomaly and advice you accordingly, helping you to get the most comprehensive coverage at the best possible price.

Independent agents are licensed professionals with strong community and customer ties. They represent multiple companies – not just one.  Because they compare quotes everyday they’ll know which companies have the best prices and services in your area – therefore help their clients to determine insurance needs, access broader policy options, get low-cost coverage, make claims, and make periodic coverage reviews according to changing insurance needs. Besides, independent car insurance agents are value hunters who not only care about their clients’ pocketbooks and always look for the best combination of coverage, price and service for their clients. They also make certain there are no coverage gaps or surprises at claim time wiping out any savings and adding headaches. The agents understand the market; know who to call, how and when to make claims, and where to get solutions for the specific needs of their clients. Furthermore, their services are affordable and they help eliminate the risks of sharing personal information online when looking for the best auto insurance deals. Are you looking for the best deal car insurance coverage? You can achieve your desire by comparing policy prices and quality through an independent agent. It’s the easiest, fastest and safest way to shop. Take the real short cut. Call 612.460.7796 or click to start comparing.  Get Quotes