When is umbrella insurance helpful?

Evaluating your insurance needs on a regular basis is very important. For people that are in the Plymouth, MN area, one type of insurance that could be very helpful could be umbrella insurance. While it is not always considered a necessity for most people, there are many situations in which people will find that having umbrella insurance is quite helpful and useful. 

Liable Beyond Base Insurance Policies

Most people are aware that they need to have liability insurance through their home and auto policies. In the majority of situations, this ends up being enough coverage to provide them with ample support if they are sued. However, there are situations in which a bigger accident could occur and the total liability will exceed the amount of coverage that they have through their home and auto policies. With an umbrella insurance policy, you will receive the additional liability insurance coverage that you need. 

When You are Sued for an Uncovered Issues

While you may have base liability insurance through your home and auto policies, it does not provide you with coverage for all types of liability. One type of liability that may not be covered could be slander or libel. If you happen to be sued for one of these issues, the umbrella insurance policy will provide you with the coverage that you need. 

If you are looking for umbrella insurance in the Plymouth, MN area, you should speak to the team at Anchor Insurance Agency LLP. Since umbrella insurance is a complex type of insurance and your actual needs can be hard to define, utilizing the expertise of a professional will be helpful. The team at Anchor Insurance Agency LLP will be able to help you find an umbrella insurance policy that will give you the additional coverage that you need. 

Who needs to take a medical exam to get life insurance?

There are many good reasons to get life insurance. Many people get a policy so that there will enough to help pay for funeral expenses and debts when a loved one dies. A whole term policy is also a good investment and can provide a source of ready cash while the policyholder is still alive.

You may be worried that you will need to take a physical exam to get a life insurance policy. Many insurance companies may require the exam as a way of protecting their investment, so to speak. It would hardly be worthwhile for them to offer a large sum of money to a new policyholder in poor health. 

Reasons You May Want a No-Physical Policy

If you are in Plymouth, MN, there are ways to purchase a life insurance policy through Anchor Insurance Agency LLP that won’t require a physical exam. Even if you don’t have a serious health issue yet, there may be reasons you don’t want to take a physical to get life insurance.

You may be someone who doesn’t have a regular doctor, so you haven’t been in a while and it would be a lot of trouble to get a thorough exam. You may simply be someone who hates getting physicals. One of the biggest reasons people get a policy which doesn’t require a physical is because they need to purchase the policy quickly.

Disadvantages of No-Physical Life Insurance Policies

Unless you purchased a policy when you were young, the lower prices won’t be automatically locked in. Policies not backed by a physical can be expensive, and they may also be limited in their coverage.

If you are in Plymouth, MN and want to find the most economical policy that still offers what you need, call Anchor Insurance Agency LLP so we can discuss your options.

Commercial Insurance-Coverage for Retail Businesses

Just like every other type of business, retail businesses also require insurance coverage. The store will require a wide variety of coverage and it is vital that the owner evaluates the insurance needs before they open the business. By doing this, they will ensure that the insurance takes effect from the first day. For residents of Plymouth, MN, you can visit Anchor Insurance Agency LLP to get a commercial insurance for your retail business. By acquiring a commercial insurance, the following types of coverage should be covered.

Mechanical breakdown insurance

This type will ensure coverage if there is any mechanical malfunction. The machines could range from the heating system, water filtration systems and refrigerators. A mechanical breakdown insurance will save you the cost of repairing the system individually.

Property insurance

As a business owner, the safety of your property is always the number one concern. Property insurance gives coverage for the building in which the business is based. It will protect the inventory, furniture and all the property within the business.

Disaster coverage

Disaster insurance will protect the business against losses realized in case of a disaster such as fire or building collapse. The coverage will help pick up the business by replacing the property damage completely. After the disaster, the business owner can also choose to relocate the business to a safer location.

Workers compensation

Majority of businesses will employ workers so that it runs effectively. Depending on where the business is located, some workers may be having problems accessing transport. Such issues are addressed by getting a workers compensation insurance to help the workers efficiently. If you live at Plymouth, MN, visit Anchor Insurance Agency LLP where you will be helped get a commercial insurance.


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.