Condominium owners can purchase condo insurance to protect the investment they make in their property. At Anchor Insurance Agency LLP, we offer condo insurance to consumers residing in the Plymouth, MN area.
The following are three things you should remember if you are in the process of taking out a condo insurance policy:
Condo insurance provides added protection in addition to any condo association insurance you have.
Condo communities generally have common insurance provided to the entire condominium structure that all of the owners in the building contribute towards. This is what is known as "condo association" insurance or the "master policy" of your community.
However, this type of insurance won’t cover residents for damage to the interior of their unit or the possessions they keep in their unit. Individual condo insurance is designed to protect these assets.
There are three common condo association insurance types out there to be familiar with: "all in and all-inclusive", "special entity", and "bare walls in and wall studs in" policies.
Your condo insurance should cover you for anything that your condo association insurance doesn’t you for. You need to know what type of condo association coverage you have so that you can choose individual condo insurance to complement this coverage.
Before you purchase condo insurance, discuss your insurance needs with a representative from your condo association and understand exactly what is already covered through your payments to the association.
You need more of your own coverage for "bare walls in and wall studs in" policies.
Of all the types of condo association policies, "bare walls in and wall studs in" policies typically offer the least amount of coverage. You’ll therefore probably need to invest more in your individual polices if your condo association offers a "bare walls in and walls studs in" association policy.
If you’d like to learn more about condo insurance and find out what policies are available in the Plymouth, MN area, we’d like to know. Contact us at Anchor Insurance Agency LLP and we’ll provide you with all the information you need to choose the right condo insurance policy.
Umbrella insurance in Plymouth, MN is additional personal liability insurance. It’s helpful if you find you are liable for a claim bigger than what your auto or homeowners insurance will cover. Umbrella insurance can also cover liability claims that the typical policies do not cover, including false imprisonment, slander, and libel. If you have rental property, your umbrella insurance can also provide protection beyond your home insurance policy.
The best way to explain how umbrella insurance works is with an example of a lawsuit in Plymouth, MN. For example, if you throw a party, one of the guests could fall on your steps outside. The guest ends up with many injuries, including a concussion and some high medical bills, so she decides to sue you. In court, the judge awards her $1 million. Your home insurance policy only has a personal liability limit of $300,000, which means you are now on the hook for $700,000. Without an umbrella policy, you have to pay for this $700,000 out of pocket and it may have to come out of your retirement account. This could be devastating and mean that you have to work an additional 10 years to replenish your account. However, if you have an umbrella policy then it covers that portion of the judgment that your home insurance doesn’t cover and your savings remain intact.
In order to have an umbrella policy, you need to have certain limits on your home and auto insurance in place. Working with an agent at Anchor Insurance Agency LLP can help you determine your risk of being sued. Certain lifestyle choices, such as having a long commute or having a pool or trampoline, can increase your chances of being sued. An agent can also help you determine how much coverage is best for you.
Contact Anchor Insurance Agency LLP to get a quote on umbrella insurance.
Many people believe that they can’t put a home security system in a condo or rental property. That’s not true. Although you may not be able to hardwire a system into your condo’s electrical wiring, you can put in a DIY system that offers reliable protection against intruders and even some environmental hazards. Condo owners who live in Plymouth, MN can discuss the need for a home security system with the agents at Anchor Insurance Agency LLP to get the answers they are looking for.
DIY Yourself Home Security Systems
Do-it-yourself home security systems are easy to install. Most can be put in and hooked up in less than 30 minutes. The majority of devices are 100% wireless and run on a WiFi or cellular connection giving you the opportunity to monitor your system with an app that can be downloaded to your smartphone. If you eventually move, you can take the system with you and install it in your new home.
Do-it-yourself systems allow you to monitor your system on your own and even have devices that offer two-way voice communication. This allows you to have a conversation with your family at home or whoever is visiting outside. With self-monitoring, it’s up to you to notify the authorities if an emergency arises.
The agents at Anchor Insurance Agency LLP are ready to assist condo owners in the Plymouth, MN area get the answers they need when it comes to home security systems. With so many systems on the market, you need to find the one that works best for you. Contact an agent today to discuss your options.
For many people, getting a life insurance policy is the best decision they’ll ever make. If you were to unexpectedly pass on, you can have peace of mind knowing your loved ones will be taken care of. A life insurance policy from Anchor Insurance Agency LLP in Plymouth, MN can provide your family with the financial support they need to carry on. What can life benefits be used for upon your demise?
Pay Off Debts
If you’ve left outstanding debts upon passing, life benefits can help pay these off so your family isn’t left with the burden. Life benefits can be used to help pay off a mortgage, credit cards, car or furniture loans, business loans or private student loans.
Financial Support for Everyday Living
Life benefits can supplement your lost income to provide daily financial support for your family. Your spouse can use these benefits to pay rent, buy food and clothing, pay for school needs, cover childcare and health expenses and more.
Pay Your Funeral Expenses
Funerals can be extremely expensive. If you didn’t make arrangements in advance for your funeral, life benefits can help cover this cost.
Help Aging Parents
Life benefits can subsidize your aging parents’ pension in their golden years to help them through retirement. If you’re helping your parents now, life benefits can continue to provide that financial support.
Support College Fund
Benefits from your life insurance policy can help put your kids or your younger siblings through college. Benefits can be put in a trust specifically for this purpose. Life benefits can help offset the high cost of college, giving your children the opportunity to get the education they need to establish a prosperous career.
For more information on getting the life insurance policy you need, contact Anchor Insurance Agency LLP in Plymouth, MN.
Small business owners in Plymouth, MN face the same challenges as small business owners across the country. Having the correct commercial insurance can not only keep your business in compliance with state regulations it can help you to stay successful in the face of some of the bad things that can happen. Anchor Insurance Agency LLP has the answers about coverage that you are looking for and they are always happy to discuss them with you.
Minnesota law requires all businesses to carry worker’s compensation insurance or to be self-insured. This protects both the employee and the employer
Employment practices liability insurance
Any employer who has employees no matter how small is at risk of having a claim filed against them for wrongful termination or harassment. Your commercial insurance policy offers the option of this coverage. It can cover your legal expenses no matter whether you are found innocent or guilty.
General Liability coverage protects you from the results of a customer who is injured on your premises or by your products.
If you own the building where you are doing business, you need to have coverage that will help you to repair the building if it is damaged by things like lightning, wind, fire, theft or vandalism. You will want to be back to business as usual as soon as possible.
When something happens that stops your ability to do business you need to have a way to continue to meet payroll and keep the bills paid. This insurance makes all the difference.
Commercial insurance can protect your small business from a variety of unpleasant events. If you live in or near Plymouth, MN, give Anchor Insurance Agency LLP a call or stop by their office for a no-obligation quote. They can help you to choose the right coverage for your particular small business.
When you’re exploring home insurance for your home in Plymouth, MN, it’s important to look at what is and isn’t covered. There are several things covered in a traditional policy. However, you can choose to customize your policy – and that’s where Anchor Insurance Agency LLP can help. We can make sure that anything in and around your home is part of your policy.
A Basic Home Insurance Policy
When you buy home insurance, it is going to cover several things, including:
- Basic dwelling
- Personal belongings
However, backyard structures, including detached garages, sheds, and even hot tubs will not be covered in a standard policy. That doesn’t mean you can’t add them. These items can be added at any time once you have a policy so that, if something does happen, they can be part of the insurance claim that you make.
Covering Everything You Own
It’s important that a policy is customized to meet the needs of your home as well as your budget. If you have any kind of backyard structure, it should be a part of your policy. Otherwise, you run the risk of a claim being denied because you didn’t have sufficient protection. The structure could get damaged or it could be the thing that causes the damage. Either way, it should be on your policy.
Various riders and coverage increases can be encompassed within your policy. This is why it’s helpful to work with an independent insurance agent. We can build a policy that provides you with greater peace of mind. Plus, we can shop the various insurance companies that write policies in Minnesota to ensure that you get the coverage that you need.
Contact us at Anchor Insurance Agency LLP today to learn more about making sure that your home insurance encompasses everything on your property in Plymouth, MN.
There are almost as many automobile insurance coverage options as there are reasons to buy insurance. There are practical reasons, such as millions of other drivers on the road and that isn’t counting those outsides of Plymouth, MN. There are legal reasons such as states have legal minimum insurance requirements and there are personal reasons.
Getting the Right Insurance
Is this your first car from high school and it has sentimental value? Is this a new sports car (and let’s be honest, it wasn’t cheap was it?) or a work vehicle that logs hundreds of miles per week? There are many reasons to purchase automobile insurance but not every insurance policy is the right one for you.
Choosing items like deductible amounts or coverage options will go a long way in getting the right policy for you and Anchor Insurance Agency LLP can help. If you are currently shopping for car insurance or want to compare rates, check out our online rating tool.
Protecting You and Your Ride
You don’t want to be driving along when suddenly, by no fault of your own, you are hit by another vehicle. "Where did they come from? Is my vehicle alright? Who’s at fault and how much is this going to cost me?" This situation and these questions are hard enough if you have coverage, and if you don’t…
There are many reasons to get car insurance and there is a policy that is just right for you. Let Anchor Insurance Agency LLP help you get the right insurance for you, your vehicle and your situation. If you live in or around the Plymouth, MN area, stop by or call one of our friendly agents today to get started.
One of the best long-term investment options you can make is to buy a home instead of renting a property. For many people, an ideal type of home to buy is a condo. Owning a condo comes with a lot of amenities and advantages and can also come with fewer maintenance needs. When you are looking to buy a condo, it is very important that you have it properly covered by insurance. Today, it is more important than ever to have condo insurance and there are several reasons why.
Covers Your Asset
One of the advantages of having a condo insurance policy is that it will cover your important asset. When you buy a condo in the Plymouth MN area, you will be buying a major investment and asset. Because of this, you will want to make sure that it is properly covered by insurance. Your condo insurance policy will be able to give you the coverage that you need.
Another advantage of condo insurance is that it can provide you with liability protection. A full condo insurance policy will have a liability component that will prove to be very beneficial if someone is injured in your home and you are found liable. This will give you the financial protection that you need in these stressful and challenging situations.
Having condo insurance in the Plymouth, MN area is clearly very important. When you are shopping for your next policy, you should come to Anchor Insurance Agency LLP. The team at Anchor Insurance Agency LLP can help anyone looking to buy a condo find an insurance policy that is right for their situation. This will ensure that you and your valuable asset are properly covered and protected.
Our pets are a huge part of our families and finding a way to protect them in the event that something happens to our homes is a must. For those that have a homeowner’s policy, your pets are likely covered with no issue. For renters, the outcome may be slightly different. For those that live in the Plymouth, MN area, the agents with Anchor Insurance Agency LLP can help you find the policy that works for you.
For renter’s the same items, for the most part, are going to be covered as would be with a home policy save for the structure itself. A renter’s policy is going to help protect the contents of the rented space and can also give you some money to help cover the medical costs of your pets that are injured in the rented property. If you have a fire for instance and all your possessions are destroyed you are going to get a pay out that can then be used to help pay for the medical costs of your pets.
As with anything, unless special items are specifically named in the policy you are likely only going to get a payout based on the overall value of the contents of the rented space. If you have pets and you are afraid you may run into costs associated with medical bills, you can always take out a pet policy that helps to cover these costs. Your pets are a top priority and keeping them healthy and safe is a must.
For those that live in the Plymouth, MN area, the agents with Anchor Insurance Agency LLP can help you to get the policy that you need to keep your pets safe and to be sure you can cover their bills if they are injured.
Although they can be lots of fun, owning a motorcycle is serious business. One of the most imperative parts of owning a motorcycle is making sure you have enough insurance coverage. That said, for residents of Plymouth, MN, the following is a closer look at 3 benefits of purchasing motorcycle coverage.
Protection from Non-Accident Related Damages
In addition to accidents, your motorcycle could become damaged as a result of a fire, vandalism, and more. By purchasing a high-quality policy, you can make sure your motorcycle is covered.
On another note, if you happen to damage someone else’s vehicle or property, liability protection can be a godsend. Rather than being held liable for thousands or even millions of dollars worth of damages, your motorcycle insurance policy could be more than enough to cover the damages.
Flexible and Affordable
Lastly, motorcycle policies are known for being very flexible and affordable. More so than many other types of insurance, motorcycle insurance policies are associated with lower deductibles and limits than other types of insurance coverage. Not only are there lots of discounts available but these policies are also highly customizable, allowing each consumer to pick and choose the coverage they want and/or need.
Overall, for residents of Plymouth, MN, Anchor Insurance Agency LLP is a great place to secure motorcycle insurance coverage. Not only can they provide you with top-notch motorcycle insurance coverage, but they can also help with an array of other insurance coverage needs. Simply stop by the office, drop them an email, or give them a call. There is no need to be caught without suitable coverage when you can start your policy ASAP with one of their well-trained professionals.