Insurance

Commercial Insurance: How Long Does It Typically Last?

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If you own or manage a business, you need commercial insurance. This form of essential insurance safeguards the business against myriad lawsuits, ultimately ensuring the enterprise remains open even amidst one or several lawsuits.

Do some research and you’ll likely have at least a couple questions about coverage and terms. As an example, most business owners want to know how long commercial insurance lasts.

Safechoice Insurance Agency is here to provide clarification.

The Length of Commercial Insurance

Commercial Insurance lasts for a specific term. In general, most such policies last a single year. As an example, the typical commercial insurance contract for a business has an expiration date often on the first of the month exactly one year after it was activated. It is at this point that the business loses its commercial insurance coverage unless renewed. 

However, there are some policies that last upwards of three to five years. General liability insurance usually lasts one year. Professional liability insurance typically lasts a year to five years. Business interruption insurance length is usually the same as the term of the property insurance policy.

There are also some short-term commercial insurance policy options available for businesses like yours. Shop around and you’ll find the best rate and terms for your Rochester, MN business.

Keep Your Documentation After the Policy Expires

Hold onto your commercial insurance policy documents across posterity. This way, if a claim is made toward the end of the policy or in arrears, meaning after the policy ended but when active, you’ll have sufficient documentation to prove the policy was active at the time of the alleged wrongdoing.

Contact Safechoice Insurance Agency

Serving Rochester, MN, Safechoice Insurance Agency offers affordable commercial insurance with fair terms. Contact us today to learn more about your coverage options.

Life Insurance Is for Singles, Too

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When the topic of life insurance is broached, most people assume the discussion centers on breadwinners, married couples and those with kids. But singles need life insurance, too. Here’s why.

Why Life Insurance Is for all Adults

If you aren’t in a relationship and don’t have kids, life insurance still has merit. Though many are unaware of it, life insurance policies provide more than death benefits. Certain life insurance offerings expand in cash value across the length of the policy. This provides an opportunity to take out a loan against the policy, obtain cash when necessary or even surrender it for a large sum of money. In other words, life insurance policies can be similar to savings accounts, meaning they have significant cash value for singles.

If you lose your job, are considering buying a home, have an emergency expense or simply desire supplemental income later in life, you’ll be thankful for your life insurance down the line.

Also, plenty of singles own a business or will start one in the future. Oftentimes, life insurance policies are required as a form of collateral when seeking a loan to start a business.

Moreover, if you own a business and pass away sooner than expected, the policy’s death benefit will help keep the business humming along like a well-oiled machine. It all starts with a life insurance policy from Safechoice Insurance Agency.

Additional Reasons for Life Insurance 

Most singles have at least one relative who would greatly benefit from a life insurance payout. The bottom line is people are depending on you. If you have aging parents, a sibling or another dependent, do them a favor by getting a life insurance policy. This way, if you are no longer around, you’ll provide financial stability for those who depend on you.

Most Americans have debt. If you owe money to any party in Rochester, MN or elsewhere, you’ll benefit from life insurance. Medical debt, car loans, mortgages, business loans and general loans must be paid back. Obtain life insurance and the payout will help cover those unpaid debts, ensuring your loved ones live with financial freedom.

Get Your Life Insurance Today

Serving Rochester, MN, Safechoice Insurance Agency has the right life insurance product for you.  Give us a call today to learn more about our life insurance policies.

Major Changes to Always Report to Your Motorcycle Insurance Provider

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Having motorcycle insurance isn’t something you can have a set-and-forget approach toward. There are changes that may take place throughout your time as a motorcycle rider that could greatly impact your insurance, potentially leaving you fully responsible for handling your bills if something leads to claim denial. So, what changes do you need to report to your motorcycle insurance provider? Here are a few of the major changes that always need to be communicated. Whether you’re shopping for a new motorcycle insurance policy or looking to switch, you can always come to us here at Safechoice Insurance Agency, serving the Rochester, MN area.

What Changes Do You Need To Report to Your Motorcycle Insurance Provider? 

Some of the most important changes that you should always report to your motorcycle insurance provider include: 

  • Motorcycle Modifications: Any major modifications to your motorcycle that aren’t reported could lead to claim denials, leaving you on the hook for theft, vandalism, accidents, and beyond. If you make any changes at all to your motorcycle, always let your provider know. If you need additional coverage, you can ask them about add-ons for any customizations you’ve made. 
  • Changes in Personal Information: No matter whether your phone number has changed or you’ve decided to move, it’s important to let your policy provider know. Keep them in the loop about any changes to your personal information. 
  • New Bikes: Whether you get an additional bike or replace the one you have with another, you’re not automatically covered. Make sure to notify your provider about this change and get proper coverage for that specific motorcycle. 

Find Motorcycle Insurance With Safechoice Insurance Agency

We here at Safechoice Insurance Agency, serving Rochester, MN and the surrounding area, can help you find motorcycle insurance options in your area to give you the coverage you need as a rider. Give us a call today.

Will RV Insurance Cover Damage Done to a Parked RV?

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With summer vacation long over and the winter holidays coming soon, you might decide to park your RV and spend a happy holiday at home. Or maybe you’ll take your RV to visit family who will let you park on their property while you enjoy a winter vacation with them. Even if parked, your RV could still suffer damage. A snow-laden branch could fall on it, breaking the windshield. Hailstorms can happen. Holiday  decorations can catch fire. Will your insurance cover this? Learn more from the professionals at Safechoice Insurance Agency, serving Rochester, MN and surrounding areas.

You Are Covered! 

Even if you are not using your RV at the moment, RV insurance can still cover any damage done to it. Due to all the potential risks to a parked RV, it is a good idea to opt for “storage” or “inactive” insurance as this will cover your vehicle when it is not currently in use. Comprehensive coverage, as the name suggests, covers all damages including those not incurred on the road. Liability insurance will cover you if the RV were to fall over or come loose and do damage to someone else’s property. Collision coverage will come into play if your RV is stationary when it sustains damage. Even if you get your RV permanently parked you may be able to get an insurance policy that suits your needs. The cost will vary based on such factors as location, value and condition of the vehicle as well as the type of coverage you want. 

The Safechoice Insurance Agency Serves Rochester, MN

If you need help choosing the right policy for your RV, we at Safechoice Insurance Agency are happy to assist. Give us a call today.

 

How Toy Insurance Can Protect Your Snowmobile

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For many winter enthusiasts, snowmobiling is more than just a hobby; it’s a passion. But along with the thrill of gliding over fresh snow comes the responsibility of protecting your investment. Toy insurance for recreational vehicle ensures your snowmobile is covered when the unexpected happens.

What Is Toy Insurance?

Toy insurance is a specialized policy that covers recreational vehicles, like snowmobiles, ATVs, Jet Skis, and motorcycles. Unlike standard auto or homeowners insurance, which typically excludes off-road vehicles, toy insurance provides tailored protection for your sled, on and off the trail.

Comprehensive Protection for Your Ride

A toy insurance policy can include several types of coverage. Collision coverage helps pay for repairs if you hit an object or another vehicle. Comprehensive coverage protects your snowmobile against theft, vandalism, or weather-related damage. Liability coverage pays for injuries or property damage you might cause to others while riding. Many policies also cover custom parts, safety gear, and transport trailers.

Why It Matters

Snowmobiles can cost thousands of dollars to repair or replace, and accidents can happen even to experienced riders. Without the right insurance, you could face major expenses out of pocket. Toy insurance helps protect your investment and provides peace of mind every time you hit the snow.

Review Your Coverage Before the Season Starts

Before winter arrives, talk to your insurance agent to make sure your snowmobile policy fits your needs. With the right protection, you can focus on enjoying every ride, knowing your investment is secure.

At Safechoice Insurance Agency, We’re Proud To Serve Rochester, MN

We’re proud to offer toy insurance to Rochester, MN, residents. Contact Safechoice Insurance Agency to talk with one of our insurance agents and learn more about toy insurance for your snowmobile.

Will ATV Insurance Cover Your E-bike?

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When you think of an all-terrain vehicle (ATV), you might wonder which vehicles the term covers. Here, we’ll look at what’s considered an ATV in Rochester, MN, and whether your e-bike is included under a standard policy. 

Is an E-bike Considered an ATV?

No, e-bikes are not typically considered ATVs. At Safechoice Insurance Agency, our staff can tell you that most people can use their standard homeowners coverage if their e-bike is damaged or stolen. If you have an expensive e-bike, you may want to look into a separate policy for it, as homeowners coverage can be limiting. 

What Does ATV Insurance Cover?

This depends on the policy. ATV insurance can cover anything from golf carts to dune buggies, but it’s important to clarify how the coverage is written before you have to file a claim. 

When it comes to the actual policy, standard ATV insurance typically covers liability, collisions, vandalism, theft, and weather damage. You can also consider optional add-ons, like covering the cost of your safety apparel if it’s ruined in an accident or replacing any damaged after-market parts in a covered event. 

Insure Your E-bike with Safechoice Insurance Agency 

If you like to go off-roading, whether it’s on a dirt bike or a snowmobile, it helps to get all of your vehicles covered. At Safechoice Insurance Agency, we help our customers find coverage that works for them, especially if they invest in the best equipment. Plus, we can help you find other types of coverage if your vehicle doesn’t fall under a standard insurance category. If you’re ready to get a little more protection when you’re out on your many adventures, contact us for a quick quote. 

One More Reason Why You Need Life Insurance: Tax Debt

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Your heirs don’t inherit your debt when you pass away, but your estate is still responsible for paying it. While some companies, such as credit card issuers, may forgive debt upon someone’s death, the IRS will likely assess what the estate can pay. To avoid complications, including potential correspondence from the IRS, consider having a life insurance policy that your beneficiaries can use to cover your final taxes. In Rochester, MN, Safechoice Insurance Agency can guide you through the different types of policies available.

A Separate Fund Just for Taxes

There are many ways to leave money to your heirs, but much of that money may go toward expenses like funeral costs if you haven’t prepaid them. Even if you’ve set up payable-on-death bank accounts for your heirs, the funds may be depleted by the time taxes are due. This can lead to disagreements among heirs about how much each should contribute.

A better solution is to have a life insurance policy that pays out separately to the person most likely to handle your taxes. This designated amount can be placed in a separate account, ready for tax time. While paying estimated taxes during your lifetime can help reduce the amount owed, unexpected circumstances may prevent you from settling them before your passing.

A reasonable life insurance policy that covers the estimated taxes for the year of your death provides your beneficiaries with a straightforward way to pay any owed taxes when filing. No payment agreements or additional debt are necessary. Contact Safechoice Insurance Agency in Rochester, MN, to set up a policy today.

Will Commercial Insurance Replace A Parking Lot?

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Commercial insurance can provide coverage for your building in the event of incidents like fires or natural disasters. However, it only applies to covered perils and specific items. But can it help you with your parking lot?

Covered Structures

Most property insurance policies primarily cover the main building where your business operates. Some policies may extend coverage to other structures, such as parking lots, fences, or storage sheds. However, other policies specifically exclude these areas unless you purchase additional protection for detached structures. It’s important to speak with an agent at Safechoice Insurance Agency to ensure your parking lot is covered.

Covered Perils

If your insurance policy includes coverage for your parking lot and the damage is caused by a covered peril, your policy will cover the repair costs. Common covered perils include accidents, fire, vandalism, and certain weather events.

However, several exclusions apply. Many policies exclude severe weather events like hurricanes and tornadoes, requiring additional coverage for these situations. Intentional damage caused by the business owner or employees is also not covered. Filing a claim for intentional damage is considered insurance fraud.

Normal wear and tear or preventative maintenance is not covered either. For example, if your asphalt parking lot requires resealing due to aging, you’ll need to pay for it out of pocket, as it is considered standard maintenance.

Agents at Safechoice Insurance Agency are here to help. We’ll review your specific situation and let you know if your policy can cover parking lot repairs. Contact our office in Rochester, MN.

Claims Strategies for Your Family Health Insurance Plan

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Filing a health insurance claim and navigating the claims process doesn’t have to be complicated. By using effective strategies to maintain organized health records and understanding the steps involved in filing claims, you can simplify the process.

Keeping Records of Medical Procedures

Maintain a detailed record of your family’s medical appointments and procedures. Request an itemized receipt during each office visit to ensure you have a clear record of the services provided.

Store these records in a secure and easily accessible location, such as a locked file box or safe. This ensures that if you ever need documentation for a specific medical service received by you or a family member, you can quickly retrieve the necessary information.

Filing a Health Insurance Claim

Depending on the situation, either you or the medical provider who performed the services may be responsible for filing the insurance claim. When visiting a medical office, you will typically be informed about the filing protocol they follow.

If you are responsible for filing the claim, you will need to submit the required documentation as outlined by your insurance provider. This information is usually included in the paperwork you received when you purchased your health insurance policy.

If the medical provider is responsible for filing the claim, their staff will complete and submit the necessary forms on your behalf.

Speak to an Insurance Agent in Rochester

If you have questions or concerns about your family health plan or the steps involved in filing a claim, don’t hesitate to contact our office. An insurance agent at Safechoice Insurance Agency in Rochester, NY, will be happy to consult with you and schedule an appointment at your convenience.

Which “toys” are Considered to be Recreational Vehicles in Minnesota?

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Recreational vehicles bring fun, excitement, and adventure to our lives, whether on water, snow, or trails. If you’re considering purchasing one of these vehicles to enjoy in Rochester, MN, and beyond, it’s important to understand what qualifies as a recreational vehicle and the type of insurance you may need. Contact the knowledgeable team at Safechoice Insurance Agency for answers to your questions and recommendations for coverage tailored to your needs.

Recreational Vehicles in Minnesota

There are many options when it comes to recreational vehicles, offering activities ranging from water sports and snowmobiling to off-road adventures and travel. Below are examples of motorized and non-motorized recreational vehicles to consider:

Motorized and Non-Motorized

  • Includes Class A, B, and C motor homes, as well as pop-up trailers, toy haulers, fifth wheels, and travel trailers.
  • Perfect for winter adventures.
  • Includes jet skis, motorized boats, and sailboats for water-based activities.
  • Designed for trails and natural terrain, including some four-wheel-drive vehicles and utility task vehicles (UTVs).
  • Motorized vehicles are used for exploring trails, paths, and off-the-grid environments.
  • In some Minnesota cities, motorcycles are considered motorized recreational vehicles.

Contact Us

Let Safechoice Insurance Agency help you get road-ready, off-trail equipped, and water-prepared with insurance coverage to protect your recreational vehicle. Enjoy all the activities available in Rochester, MN, with peace of mind. Contact us via phone, text, fax, or email. We’re available Monday through Friday from 8:30 A.M. to 5:00 P.M., and we can also schedule weekend or evening appointments to accommodate your needs.