Can Motorcycle Insurance be Combined with Homeowners Insurance?

Many people look for ways to save money on their insurance. Whether it be car insurance or homeowners insurance, it is of the utmost importance to save as much money as possible. Fortunately, when you combine your policies, you can generally save anywhere from 10 to 20 percent. It is also helpful when you have more than one asset covered under the same type of policy, such as two or more vehicles on your auto insurance. If you have a motorcycle and a home, you may be wondering whether or not you can insure them through the same company and receive a discount. Let’s take a quick look at the answer to this question. 

You can combine your motorcycle insurance with your homeowner’s insurance. As stated before, if you have other vehicles that you need insurance on, it is highly recommended that you combine them with your motorcycle insurance policy as well as your homeowner’s policy; you may find that you are able to save upward of $500 a year on your insurance. Adding other vehicles to your policy is quite simple. You just need to contact the insurance provider for your motorcycle insurance and ask them about adding additional vehicles. Also, you need to ask them about combining your auto policies with your homeowner’s policy. More importantly, ask them about any discounts that this will provide. 

If you would like to learn more about the benefits of combining your motorcycle insurance with your homeowner’s policy, including discount benefits, please don’t hesitate to reach out and contact Anchor Insurance Agency LLP today serving the Plymouth, MN area. 

What landlords should look for in their tenants renters policy

Whether you are the landlord of one apartment or ten apartments in the Plymouth, MN area, it is critical that you require all of your tenants to maintain a renters insurance policy. However, not all insurance policies are created equal, and it is essential to look for specific coverages and limits. In addition, you want to make sure any insurance requirements are explicitly spelled out in the lease agreement.

One of the first things you want to look for when reviewing your potential tenant’s renters policy is the limits. You want to make sure the renter’s insurance limits are equal or greater than the amount of your deductible. If your liability policy has a $100,000 deductible, you will want to require the tenant to carry at least $100,000 in limits. By requesting this, you reduce the chance of there being a gap in coverage between the tenant’s policy and your own.

If you have a tenant that has dogs you want to check the policy to confirm it provides coverage in the event the dog bites a third party. Insurance claims arising from dog bites are incredibly costly. If your tenant’s insurance does not have this coverage, you may find yourself on the hook as the landlord. If you are unsure if your tenant’s policy has this coverage, please reach out to your insurance expert at Anchor Insurance Agency LLP.

Another critical coverage to look for is coverage that will assist the tenants with accommodations in the event they have to move out of the rental for repairs. This will give the tenant peace of mind while the repairs take place and give you the time needed to have the repairs completed professionally.

If you are a landlord and are interested in learning more about renters insurance, please reach out to a specialist at Anchor Insurance Agency LLP  to discuss. We proudly serve the. Plymouth, MN area.

 

Does Motorcycle Insurance Cover Custom Parts?

After purchasing a motorcycle, you may equip the motorcycle with custom parts. This includes items like custom valve and stem covers, upgraded tires and rims and saddle bags or travel compartments. When you purchase motorcycle insurance, you may think that these items are covered, but are they really? Here at Anchor Insurance Agency LLP, serving the greater Plymouth, MN area, we would like to educate you the truth regarding motorcycle insurance and custom parts. 

Does Motorcycle Insurance Cover Custom Parts?

Motorcycle insurance does not cover custom parts. Most motorcycle insurance policies cover the parts that the motorcycle was manufactured with originally and that is all. They do not cover custom paint jobs, custom parts or add-on parts that you have added on your own to increase the value of the motorcycle or change its appearance.

Is There Any way to Cover Custom Insurance Parts? 

If you are looking to cover custom insurance parts, you will need to either find a policy that allows you to include these custom parts or purchase a supplemental motorcycle insurance policy specifically for the custom parts. If you purchase a supplemental policy, it is important that you list each and every part on your bike that is custom or not original to the bike. It is also important that this information is updated as you change your bike. This helps to ensure you are properly compensated in the event you have to file a claim with your motorcycle insurance company. 

If you are looking to insure a motorcycle in the greater Plymouth, MN area, contact Anchor Insurance Agency LLP. We can help you find the right insurance coverage to cover all parts of your motorcycle, including your custom parts. 

Top Things You Need to Know About Boat Insurance

Owning a boat can be exciting and rewarding, but make sure you take care of all the necessary requirements involved in this adventure. A key task is making sure you have the proper insurance, and here are the top things you should know about insurance for your boat.

Various types of boat liability insurance coverage exist.

When it comes to liability coverage, there is medical payment coverage (for issues like hospital bills related to a boating accident) and personal liability coverage (for issues like property damage and legal bills related to a boating accident).

Don’t overlook insurance coverage.

This means actually getting boat insurance, because your homeowner’s insurance policy does not cover your boat that has a motor or engine. Boat insurance policies can be somewhat similar to automobile insurance policies.

This type of insurance can deal with various types of problems.

These include theft, storms, fires, capsizing and collision. Great coverage will handle any and all of these.

Every boat owner needs physical coverage.

This insurance covers the boat and actual tangible equipment, including the trailer, motor and any other property you own that pertains to the boat.

You can add on the specific coverages you need.

Even if a standard boat insurance policy does not include everything you need, you can add on specific coverage. This includes umbrella insurance coverage and reasonable repairs coverage.

Look into cost-saving strategies.

Boating insurance is a cost associated with having a boat. But you can save some money on your coverage by using diesel fuel and having the proper type of fire extinguishers on the boat.

If you have a boat and need to make sure you get adequate and comprehensive boat insurance, contact Anchor Insurance Agency serving Plymouth, MN for more information and details. We can help you smoothly sail through your boating adventures with greater peace of mind.

Enjoy your boat without fear of the unknown

Life at sea can be very risky. You need to protect your boat, yourself and other people in your boat. Whether you use it for commercial purpose or leisure, it’s important that you consider the possibility that your boat can sink or get destroyed any time. It’s, for this reason, we offer you this boat cover.

Anchor Insurance Agency deals with insurance of various kinds among them being boat insurance. We help you discover how open your boat is exposed to endless dangers and how you can protect it from any risks.

Liability coverage for boats

Even while at sea, you may cause damage to other people’s property or injury to others. If the court finds you liable, you will be required to pay for all the damage. Boat liability coverage is aimed at covering such liabilities caused by accidents leading to injuries and damage to properties.

Collision coverage for boats

This particular cover aims at covering damage to your boat and other covered parts of the boat in the event of a collision with another boat or object.

Physical coverage

As explained above, while at sea there are so many dangers as well as risks. But that does not mean you have to ride your boat with fear. Anchor Insurance Agency offers you a policy that protects your boat against risks such as fire, storms, sinking and theft among more. However, make sure you ask your insurer which kind of property is covered since in many cases, a trailer is never included.

Medical payments

Medical payments coverage helps take care of medical bills in case you or any other person in your boat gets injured.

If you want to enjoy your boat without any fears, please feel free to contact us for more information.

 

 

 

 

 

 

Why You Need Condo Insurance in Plymouth, MN

If you are in Plymouth, MN, there is a chance that you are looking to buy a condo. While homeowner insurance may be liable for catering for some damages, you can never be confident that you are fully protected without getting a specific policy to protect your condo.

To get the peace of mind that you deserve, the best thing to do is buying a condo insurance policy from Anchor Insurance Agency LLP. Condos are different from apartments. You own the unit although the HOA still owns some aspects of the condo and is liable for the repairs of the aspects. However, buying a condo insurance policy comes with numerous benefits which include;

It protects your personal property

The home owner association will not pay for your belonging like furniture and other items if fire or flood damage them. A Condo insurance coverage is meant to protect such things.

Theft coverage

If thieves break into your condo, theft coverage will cater for the losses of the damages made. It will help you in the replacement of the stolen items or if the condo is destroyed itself.

It protects you from uncovered disasters

The home owner association may not cover all types of calamities, but you can buy a policy that protects you in such events, for example, purchasing earthquake insurance in Plymouth, MN.

Helps in immediate payout

Even if the HOA protects some items, it can take you long for you to collect the policy. Getting your insurance helps you in immediate payment, and you can deal with HOA’s reimbursement later thus saving you the trouble.

Coverage away from home

The condo insurance policy can be written in a way such that you are protected for any incidence that occurs when you are away from home, and this is something that HOA policy does not include.

Find an affordable Condo Insurance policy in Plymouth, MN with Anchor Insurance Agency LLP. Get the coverage that suits your needs and enjoy the benefits above plus more.

When Should You Decrease Your Life Insurance Policy Amount?

Throughout your life, there are many reasons why you would want to increase the amount of your life insurance policy. You may have gotten married, gotten a raise at work, or had a new baby. But there are also times when you may want to decrease your policy limits. At Anchor Insurance Agency LLP, serving the greater Plymouth, MN area, we recommend a decrease after these life events.

You Have Paid Your House or Major Debt Off

When you have paid major debt off, such as your home, and you do not plan on accruing more debt, you should lower your life insurance policy. The amount of your policy should take into account your debt. This will help your spouse or kids live debt free if you pass. However, once your debt is paid off, you no longer have to worry about this, meaning you can lower your policy.

You Have Retired

Once you retire, your income will decrease. When this occurs, you learn to live off of less. As such, you can reduce your life insurance policy amount around this time as well. This will also help to decrease your premiums, which helps your life insurance policy fit within your new budget.

Your Children Are Out On Their Own

Lastly, you may want to think about decreasing your policy limits when you no longer have kids to take care of because they are out on their own. Some people do this once their kids graduate high school, while others decide to do it only after their kids finish college and get jobs. It is up to you to decide when, but once you are confident you won’t have to pay for your kids any longer, you can decrease your policy limits.

Trying to determine how much life insurance you should have can be challenging. But Anchor Insurance Agency LLP, serving the greater Plymouth, MN area, can help you with this task. Call us today to set up an appointment and we can help you determine how much life insurance is right for you.

My Roof Caved In With Snow!

Winter in Plymouth, MN brings with it a lot of things that people enjoy and some aspects that they don’t. Clearly, there are the beautiful sights and holidays. On the other hand, there is the cold, wet conditions, and slippery ice. For the most part, people inside a home don’t worry too much as long as the heating system is working properly and things are dry inside. However, snow can be a big risk to a home, even when everyone is inside and snow in itself is relatively light and small, according to Anchor Insurance Agency LLP.

Depending on the angle of one’s home roof or that of a detached garage, snow can build up very fast on top. A thin layer of snow is no issue, but when that same snow begins to get to be a foot to 3 feet thick, it’s now aggregating a serious amount of frozen water weight. And that creates a downward pressure with gravity that can sometimes break or cave-in older roofs. There is frequently very little warning when this happens; the roof just suddenly breaks and caves in due to the heavy weight. And then all that snow turns to water inside the home or garage due to the warmer temperature inside – a double whammy of damage.

Plymouth, MN homeowners insurance policies are generally designed to address sudden and unforeseen home damage. An unexpected cave-in with snow can likely be eligible for repair coverage, depending on the terms of a given policy. However, even though protection may be possible, prevention is still far cheaper. There are a number of systems that help melt snow on a roof before it gets too heavy, causing expensive damage. To find out more, call Anchor Insurance Agency LLP for questions about snow cave-in coverage and prevention.

Why business insurance matters in Minnesota

The weather out here in Plymouth, MN can be rough. It’s not the fiercest Midwestern city, we get nice warm Summers, but with average temperatures below zero in the colder months, you have to be prepared for what the weather can do to your business if you’re not careful. Anchor Insurance Agency LLP can help you to get the policy that you need to protect your business come what may.

Consider simple liability, for instance. What’s the example insurers always use when discussing the importance of liability coverage? Somebody is coming into your store or walking on your property, and they slip on some ice. For a lot of people, this is just an example. They don’t get snow in most areas of California and Florida, but snow and ice are a constant concern for folks in the Midwest.

Commercial insurance is designed to protect the physical assets of your business, everything contained within your building. It’s not uncommon for the weather to do a serious number on this property. A bad storm or a leaky roof can do a lot of damage to a business in Plymouth, MN. Weather damages to your business may not be inevitable, but they are not exactly unlikely, and ensuring that you have adequate insurance is about having a backup plan, against the one-in-a-million unlikely events as well as the more predictable threats.

If you’re not happy with your current policy, or you’re looking to insure a new business, give Anchor Insurance Agency LLP a call and see if they have a plan that works for you. Having adequate insurance is more important in Plymouth than it is almost anywhere else.

Driving Without Auto Insurance Is Dangerous Indeed

Minnesotans are pretty smart indeed, however, even some of the residents of this great state fail to follow all the rules. Yes, some of the drivers in Plymouth MN and the surrounding areas get on the road without their automobile insurance at times. Here are some of the reasons people take the risk of driving without insurance: 

  • a need to get to work
  • not enough funds to acquire insurance
  • legal issues that would prevent the acquisition of insurance
  • a need to get to another important entity, such as medical treatment

No matter what the reason you have been driving around without car insurance, make this the day that you stop. The need for car insurance has not been mandated as a punitive gesture toward drivers and their carefree lifestyle.

The most urgent need for car insurance in a civil society is because people are involved in car accidents every day. These calamities are not foreseen. They just happen. When people who are involved in car accidents cannot go to work, they need to be financially supported:

  • Cars need to be replaced
  • Limbs need to be reconstructed
  • Lives need to be sustained

All of the above takes money to accomplish. If it were not for car insurance that money would have to be supplied from the government – the taxpayers – you. Is it your fault that a driver was distracted and collided with another vehicle when you were home resting peacefully in your bed? Of course, it isn’t your fault. So why should you have to pay for the accident?

The staffers and agents at Anchor Insurance Agency LLP provide the anchor of insurance to hold you in your place despite what may happen on the road. Call today to find out how to acquire great automobile insurance today at 763-473-4090.