The Coverage of a Typical Comprehensive Auto Policy

When you begin searching for auto insurance, you’ll find that there are many options for today’s drivers.  Most will opt for a coverage package that includes three distinct but complementary pieces.  Now that almost every state requires liability coverage, consumers have come to understand that these policies only cover the other person’s damages and injuries if there is a wreck where they are deemed to be at fault.  In the same vein, collision policies seem pretty straightforward.  If your car is damaged in a wreck, you can quickly pay to have it repaired. So, what does a comprehensive auto policy actually cover and how does it differ from a collision policy? The team at Anchor Insurance Agency LLP work with residents in the Plymouth, MN area to understand the industry lingo and get the best coverage for their needs.

To put it simply, collision policies typically cover events where there is a crash, either between two cars or into stationary objects such as light poles or ditches. Comprehensive auto policies cover events that are considered an ‘act of God’. These incidents can range from natural disasters and civil unrest to vandalism and theft.  They will also cover damage from terrorism, falling objects, and collision with animals. 

These policies cover a wide range of events that can occur with a vehicle. The team at Anchor Insurance Agency LLP want you to have the right insurance policies the meet the needs of your lifestyle. They work with residents and businesses throughout the Plymouth, MN region. They can help you, too. Visit their website then schedule an appointment with one of their knowledgeable agents.  With the right insurance coverage, you’ll always know that you are fully protected should an accident or unthinkable event happen. Call today!

The Importance of Reading Reviews When Selecting a Home Insurance Company

An online review can tell you a lot about a company, business or product. When you are looking to purchase home insurance, here at Anchor Insurance Agency LLP, serving the greater Plymouth, MN area, we encourage you to carefully read online reviews. Here is a bit of information you can glean by taking the time to read the reviews. 

How Easy the Company Is to Work With

As you read the online reviews, you may learn how easy or difficult a company is to work with. The reviews may indicate that getting a policy or filing a claim was easy or that it was hard. Carefully comb through the reviews to get a feel for what your experience may be like with a company. 

If There are Ongoing Issues With the Companies

Another bit of information that you can ascertain by reading online reviews is whether there are ongoing or recurrent problems with an insurance company. If customers are complaining about the same problems for months or years, the company is not taking any action to change them. That should be a red flag for you to find a different company. 

What Their Customers Really Think of Them

Lastly, you’ll get a feel for what their customers really think and feel about the company. Some people may state that they will never work with the insurance company again, while others may state that they highly recommend the company to all of their friends. Look for a company whose customers praise them and have positive feedback. 

If you are looking to purchase a new home insurance policy in the greater Plymouth, MN area, Anchor Insurance Agency LLP can help you. Visit us today either in our office or online to get a quote. 

Does Renter’s Insurance Cover Medical Costs?

Renter’s insurance is something that is often not required and therefore many people forget or neglect to take out a policy. As such, issues and disasters involving rented spaces is fairly high. If you have a rental property that you are renting, it may be beneficial to take out a renter’s policy to see if it may benefit you. For those in the Plymouth, MN area, the agents with Anchor Insurance Agency LLP can help.

Renter’s insurance covers a wide range of things from the cost of replacing your property to helping you find a temporary place to stay while your apartment or rented property is being sorted out. What some may not know is that it may also help with medical costs should you become injured in the rented space through no fault of your own. Say you are injured because there is a fire, you may be able to use your renter’s insurance to get help with medical bills associated. Similarly, you may be able to get help with medical bills that are a result of something that the landlord did not fix like an uneven floor that caused a fall and so on.

Not all rental policies are the same, however. One might cover all the bases while others are very basic and may not cover all that you need to have covered. Taking the time to talk with an agent can help clear up just what the policy covers. Renter’s policies also cover things like the cost of your visitor’s medical bills should they become injured while they are in the rented space. You should take the time to talk with your agent about just what the policy covers so that you can be sure you are getting the right policy for your needs.

For those in the Plymouth, MN area, the agents with Anchor Insurance Agency LLP can help you to find the perfect policy.

Do You Really Need Motorcycle Insurance?

Owning and driving a motorcycle can be a lot of fun but that doesn’t mean you should not take precautions in the form of insurance. You should already know that you need to have motorcycle insurance if you own and drive a motorcycle but you may be wondering if it is really necessary. Here at Anchor Insurance Agency LLP, serving Plymouth, MN, we know how essential it is and have provided some reasons why you really need to have motorcycle insurance.

  • You can protect your investment. You probably love your motorcycle and you want to be able to fix it if there are any accident issues. Insurance can help you pay for these repairs depending on the type of coverage you have.
  • You want to be able to replace it if stolen. Of course, you do not want your motorcycle stolen but you also don’t want to be without it in the case that it is. The right insurance policy can even cover replacement if your motorcycle is stolen.
  • It gives you peace of mind. Insurance is something that allows you to put your mind at ease which is another great reason to have it.

If you are still on the fence about it, you also need to know that you are legally required to have motorcycle insurance if you own and operate one. So not only do you get all of those great benefits but you can also remain out of the way of any legal issues. If you would like to get a free quote for a motorcycle insurance policy or would like us to take a look at your current policy to make sure it meets the legal state requirements, be sure to reach out to us today here at Anchor Insurance Agency LLP, serving Plymouth, MN.

When Should You File a Boat Insurance Claim?

Boating is one of the major outdoor activities in Plymouth, MN. Consequently, owning a boat in the area for personal use or commercial purposes is a worthwhile investment. As a smart boat owner, you have probably protected your craft from some of the risks that may cause loss to it by taking a boat insurance policy.

The question that several others in your category are wondering about is when to make a claim. Should you file a claim each time it gets scratched, or wait until it is completely wrecked? We at Anchor Insurance Agency LLP, provide an answer to this question.

Check the policy

The suitable time to file for a boat insurance claim varies from one coverage to another. Often, it is easy to make some decisions. For example, when the boat is involved in an accident, capsizes or burns. The other is when a passenger falls off the boat or gets injured. However, what do you do when the watercraft is destroyed in transit, or the engine fails?

Ensure that your policy covers some of the not-so-obvious risks. When they are included, file a claim. Otherwise, foot the bill. Consequently, it is important to have a cover that protects your finances in the event of damages or loss to your watercraft or yacht. A boat insurance policy shifts the responsibility of the wellbeing of your boat to the insurer.

Contact your insurer immediately

It is essential to contact your insurer as soon as the insured risk occurs. Provide the evidence and if possible a statement from the police. If, for example, you are injured and cannot file the claim immediately, do so as soon as possible.

Is your current boat insurance policy sufficient to ensure the peace of mind you need when surfing the waters of Plymouth, MN? Contact Anchor Insurance Agency LLP for additional information.

Benefits of Condo Insurance

Several cities in Minnesota are increasingly becoming urban. This has led to residents of the greater Plymouth, MN area resort to renting or buying condominiums. They are more convenient since they are closer to the growing centers. Plus, they offer a hustle-free alternative to typical single-family homeownership. Having condo insurance with Anchor Insurance Agency LLP is the best way to protect your investment. While the condo association is responsible for the external part of your residence, condo insurance is used to protect your valuables. Some of the benefits of owning condo insurance include:

Liability coverage

If accidents happen inside your condo that are as a result of your fault, you are liable for any bodily injury or property damage costs towards a third party, and that’s where this policy bails you out. In addition, if you, your family members, or guests cause damage to the common property, then this policy will cover the cost of repairs.

Loss of use

Sometimes, a covered loss may render your condo inhabitable, thereby requiring you to relocate while repairs are done. Condo insurance will cover the additional living expenses that you may incur during this time, like the costs of renting a temporary residence.

Covers personal belongings

Your personal belongings (furniture, jewelry, fine art, appliances, electronics, etc.) face several risks such as theft, vandalism, water damage, and fire every single day. Condo insurance protects them from such risks by covering the cost of replacement.

Covers the interior         

The condo association is responsible for the external physical structure of the condo building, but as a condo owner, it’s your responsibility to protect the inside. For instance, damages caused to your drywall, fittings, fixtures, and carpets are covered by condo insurance.

At Anchor Insurance Agency LLP, we provide affordable and reliable condo insurance policies for the residents of Plymouth, MN and surrounding areas. Our agents will help you understand what coverage suits your needs. Contact us for further information.

When to go term, and when to go universal

People have life insurance for different reasons, and may even have different kinds of life insurance at different times in their lives.  There are good reasons to need different kinds of insurance in different situations, but it can get complicated. Let the professional agents at Anchor Insurance Agency LLP, in Plymouth, MN help guide you through the maze to find the policy that best fits your needs.

Term life insurance is for a set amount of time. When the policy ends you stop paying and that is the end of it. If you die during that time your family will receive the benefit.  This is good for families with children when one spouse is not working. The working spouse can have the insurance to help the family survive after you are gone. After the children are on their own, you no longer need this policy.

Whole life insurance lasts as long as you live and has some cash value at the end of the term. It is sort of an investment, but you get life insurance along with it.  There is also universal life, which is a combination of the two.  You may also borrow against the cash value of the universal policy.  One advantage too is that your rates will not go up drastically.  If you feel you will need life insurance for your entire life, this is a good option.

Stop by the Anchor Insurance Agency LLP, or give us a call, in Plymouth, MN, to find the best policy for you and for your family. If you are an existing customer we can update your policy, or if you are new, we can get you started on the program that best fits your needs and to make sure your family is protected.

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.