Rochester MN

Who Should You Choose as Your Life Insurance Beneficiary?

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Once you’ve decided to obtain a life insurance policy, the next step is choosing a beneficiary. You want to make sure your loved ones are well cared for in the event of your sudden demise. The following tips from Safechoice Insurance Agency in Rochester, MN can help you make wise decisions in this matter.

Immediate Family

If you have a spouse and/or children, they should be your first consideration as beneficiaries due to be your immediate family. Your spouse and children will be affected most financially if you were to suddenly pass on. Life benefits can help your family carry on after you’re gone. Life benefits can be used to pay off a mortgage or car loan, to cover school and medical needs or be put aside to help with your kids’ college expenses. You can have peace of mind knowing your loved ones have the financial support they need to live comfortably after you’re gone.  

Aging Parents

Like many adult children, you may be supporting your aging parents in their retirement. By naming your parents as beneficiaries, they can continue to receive this financial support after you’re gone. Life benefits can help meet your parents’ immediate needs in their golden years.  

Siblings

If you had plans to help younger siblings through college, life benefits can achieve this goal if you were to suddenly pass on. You could specify that a certain percentage of your benefits be designated for this cause. 

Charity

If you have no family, you could designate a favorite charity as your beneficiary to help those in need. This enables you to make a positive contribution to your community even after you’re gone. 

Life benefits can also be divided between various beneficiaries to help those you love.

To learn more about life insurance options, benefits and costs, contact Safechoice Insurance Agency in Rochester, MN. 

What Commercial Insurance Do You Need for a Home Business?

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Many home businesses in Rochester, MN need two different types of commercial insurance. Home-based insurance is not a type of insurance itself but rather a collection of insurance types that businesses that operate out of the home may need. This will usually include general liability insurance and commercial property insurance. An agent at Safechoice Insurance Agency can help you figure out exactly what coverage your home business needs. 

Some homeowners policies can provide enough coverage for a home business if add-on coverage is made to the policy. However, a commercial policy is usually best to ensure your home business has full coverage. Some home business owners may benefit from purchasing a business owners policy since this will combine commercial general liability with commercial property insurance. 

You will need home-based insurance if you have business-related visitors, such as customers or clients, coming into your home. You also need it if you have business property such as computers, equipment, or inventory in the home. If you provide a service for a fee, such as bookkeeping, you may want to consider errors & omission insurance. If you have employees or other family members who work for your home-based business, you may also want to consider workers compensation insurance. 

Commercial liability insurance is the most basic liability coverage that will protect you from third-party property damage or injury claims. Commercial property insurance can protect your business equipment or inventory. Errors & omissions insurance can cover injuries or damages due to your negligence, mistakes, or bad advice. Workers compensation insurance covers any work-related injuries, wage replacement, and medical bills for your employees. A homeowners policy endorsement will add business coverage and higher limits to your existing homeowner’s insurance instead of getting a separate policy. 

Contact Safechoice Insurance Agency, serving Rochester, MN, to get a quote on commercial insurance.

Savvy Investors Protect Value with Home Insurance

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Residential real estate continues to be a popular investment choice these days. Many people find stocks, bonds, and other financial instruments a bit too complicated for their tastes. They would rather get involved in something they can better understand. After all, almost everyone has lived in a house or apartment, thus acquiring some knowledge of the market.

Nevertheless, this familiarity should not be confused with expertise. Investors should take their real estate purchases seriously. For example, acquiring adequate home insurance for investment property is essential. Those who fail to do so may find themselves paying out-of-pocket when problems arise. In the worst-case scenario, they may even lose the home altogether.

To help you make the most of your real estate holdings, the following are some main reasons why investors need solid home insurance policies

To Prevent Income Losses

Since you expect a profit from your property, consider getting insurance coverage to sustain these earnings when things go awry. There are many reasons why you could be temporarily unable to rent, sell or use your property. A legal ruling, for example, could enjoin you from doing so until a court has made a final decree. 

You should speak with professionals familiar with home coverage for investors, such as the staff at Safechoice Insurance Agency, serving the Rochester, MN area. They can help you find a home insurance policy to protect your investment earnings as best possible.

To Take Care of Structural Damage 

You also want a home insurance policy that covers structural damage. You may need this help to pay for needed repairs and replacements in cases of vandalism, fire or another calamity that diminishes real estate value. 

To Handle Harm Done to Others

Also consider getting liability coverage, especially if planning to rent your property. 

Liability home insurance can defray legal costs when you are sued for someone who has gotten hurt. Renters, guests, and neighbors are likely candidates to file lawsuits. They may hold you, as the owner, responsible for accidents occurring on the premises.

Get More Information Today

To learn more about how home insurance can protect your investment properties contact Safechoice Insurance Agency, as many in the Rochester, MN have done. The knowledgeable staff can direct you to the best policy to meet your investment needs.

Learner’s Permits and Auto Insurance

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Kids in Rochester MN grow up fast, and before you know it, your kids will be talking about learning to drive. If you have a child who is getting close to receiving his or her learner’s permit, you may have wondered about their auto insurance coverage. Here is more information about learner’s permit insurance from Safechoice Insurance Agency.

Before They Get the Permit

Many teens cannot wait to get behind the wheel and will be urging their parents to go to the Department of Motor Vehicles to get their learner’s permit as soon as possible. However, wise parents know that there are some business matters to attend to before their teens can start driving. Parents need to know exactly what the insurance issues are before their kid ever gets behind the wheel of the car. Will your policy costs go up when your kid has a learner’s permit? Can you afford the difference in cost? Your insurance provider is the only one who can answer these questions, so take a few moments to make a quick phone call before you promise your child that you will go get their permit. 

After They Get the Permit

In many cases, the parent’s insurance policy will cover the teen with a learner’s permit, but it’s not safe to assume this. Always ask the question. In some circumstances, if the car belongs to the teen, with the teen’s name on the title, a separate policy may need to be purchased for the teen’s car. In fact, before you buy a car for your teen, it’s best to ask your insurance agent about how best to work through all of the possibilities. 

Find Out for Yourself

Your teen may tell you that his friend didn’t have to have extra insurance, and your sister may assure you that her teens with learner’s permits are covered on her policy. However, you should know that policies and state laws vary widely. Always find out for yourself by calling your agent with your questions. 

To know how your insurance company handles learner’s permits in Rochester, MN, contact Safechoice Insurance Agency today!

How To Compare Health Insurance Plans In Rochester, Mn

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Health insurance can take care of you and your family throughout the year. Whether you are sick, break a bone, or have another health concern, you can relax knowing that you are able to go to the doctor or emergency room. When you’re in Rochester, MN, you can rely on Safechoice Insurance Agency to help you compare plans in order to get the desired coverage at an affordable premium.

Understand What You Need

Before you can start to compare healthcare plans, you need to understand exactly what you need in order to cover you and your family. This includes understanding how much your out-of-pocket expenses will be regarding co-pays, deductibles, and monthly premiums.

You will want to look at whether you want to go to an in-network doctor or if you want to be able to visit any doctor or specialist that you wish. HMOs, PPOs, and health spending account all vary in terms of where you can go and whether you will need a referral or not.

By working with an insurance agent, you can learn about the various health insurance products, including the pros and cons of each.

Work with an Agent

In order to effectively compare health insurance plans, you will want to make sure that the products are similar. For example, if you are going to compare the cost of an HMO plan between multiple insurance companies, they need to offer the same level of care. By working with an independent insurance agent, you can make sure that you understand what each plan covers. Further, you can tap into all of the top insurance companies that provide coverage in Minnesota so that you can compare rates.

Contact us at Safechoice Insurance Agency today to begin working with one of our independent insurance agents. We will make sure that you have the comprehensive health insurance plan that you need in Rochester, MN.

 

 

Protect your ATV with toy insurance

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Minnesota summers may be short, but we sure do make the most of them! If you are an ATV enthusiast, it’s time to make sure that your toy insurance provides sufficient coverage for your needs. The team at Safechoice Insurance Agency is here to assist residents in the greater Rochester, MN area with all of their toy insurance needs. We want you to enjoy your ATV this summer with the peace of mind that comes with knowing that both you and your vehicle are protected. 

Protect your ATV with toy insurance

ATVs are a lot of fun, but they are also a target of theft and damage. When you have the right toy insurance policy in place, you can enjoy your vehicle and protect yourself from loss. Any time you take your ATV out on the trails you understand how important it is to ride the vehicle in a responsible manner, but accidents do happen. When you have comprehensive toy insurance in place you are protecting yourself from personal liability in the event of injury, damage, or total loss. Many owners think that because they are riding on private property, they are not required to carry insurance. While this may be true in some cases, it is not always the right move. You will want to have protection in the event that an unwanted incident should occur, whether you are required by law to have it or not. It makes good common sense to have appropriate toy insurance. 

Are you thinking about getting an ATV this summer? Make sure that you have the appropriate toy insurance in place before you get out on the trails. The team at Safechoice Insurance Agency is here to meet all of your Rochester, MN area toy insurance needs.

A Look at the Primary Components of Commercial Insurance in Rochester, MN

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The business that you create is probably one of the most important things in your life, which means it deserves to be rightly protected. Check out three of the primary components of the best commercial insurance policy. 

Property-Liability Insurance 

One of the most important forms of commercial insurance any business should have is property liability insurance. If something happens that causes someone to get hurt on your property, this insurance will step in and cover the costs of their damages. For example, say someone trips over a neglected piece of merchandise that has been left in the floor. They fall, get hurt, and you are responsible for paying for the damages. Your property liability insurance would help cover these costs so you don’t have to pay them out-of-pocket. 

Commercial Vehicle Insurance 

Commercial vehicle insurance is designed to protect the vehicles that you use to perform your business operation. Vehicles can range in form and type, from buses and taxis to company vehicles and mobile food trucks. Because these vehicles are part of your business operation, they must be protected with a higher level of insurance coverage than a basic auto insurance policy can provide. 

Property Insurance

In general terms, your commercial property insurance policy with Safechoice Insurance Agency in Rochester, MN will protect the tangible property of your business. Property insurance will include coverage for things like: 

  • The business building you operate from 
  • The business equipment that is in the building 
  • The merchandise that is kept on the business property

In the event the business property is damaged, lost, or stolen, your property insurance would help cover the costs of replacement. 

The most comprehensive commercial insurance plan will have your business protected from every angle. If you would like more information about obtaining commercial insurance for your business in Rochester, MN, reach out to Safechoice Insurance Agency for advice. 

3 Tips for Buying Life Insurance in Rochester, MN

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Life insurance in Rochester, MN is a necessity. It will protect your family after you are gone. From paying down debt to covering burial expenses and providing a cushion for your loved ones, life insurance will give you peace of mind knowing your family will be taken care of when you pass. If you don’t have a life insurance policy yet or want to add to an existing policy, there are three ways you can easily save money in the process. Read on to learn more.

1. Compare Life Insurance Quotes

It’s recommended that you compare several quotes before deciding on a policy. Go over each quote in fine detail with an agent from Safechoice Insurance Agency to be sure you understand the policy and the price. By comparing more than one quote, you are sure to find the right policy to fit you and your family’s needs.

2. Bundle Your Insurance Policies

One of the best way to save money on your life insurance is to bundle it under one insurance carrier with your other policies. Auto insurance, home insurance, commercial insurance, and any other policies you have can be bundled to save you money on your insurance premiums.

3. Work with a Reputable Agent

To understand your new life insurance policy, it’s best not to do this on your own. Instead, work with a trusted and reputable insurance agent to help you with the process. This will guarantee you get the best policy at the best price and avoid any surprises down the road that you may have overlooked.

To learn more about purchasing a life insurance policy in Rochester, MN, contact the team at Safechoice Insurance Agency who serves this area. 

Are weather events covered by my homeowners insurance

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Weather is one of many uncertainties that all homeowners live with. It doesn’t seem to matter where in the country you live, north, south, east, west or in the heartland, all of them have their own weather-related issues. Some of them are covered under most home insurance policies, others almost never are and some may be covered with an endorsement. Talking to an expert can help you to understand which policy and provider are the best for your particular situation. If you live in or near Rochester, MN Safechoice Insurance Agency is happy to sit with you and go over all the options.

Rain is a weather event that most parts of the country have to deal with. Rain may be accompanied by thunder and lightning. If your home is struck by lightning and is damaged as a result, that damage is covered. If the rain is frozen and comes down as hail, the damage caused will be covered by a home insurance policy. The snow that causes damage to your roof or freezes causing ice dams is also covered. However, if the rain is torrential and causes a mud or landslide, the damage caused to your home will not be covered by homeowners insurance.

The wind is one of the major weather events that can cause damage to your home. It may come in the form or a hurricane, a tornado or just a severe wind storm. It can cause trees to fall on your home, rip the roof right off of your home and even tear your home right off of your foundation.

Flood damage is not covered under a typical home insurance policy. In order to have coverage, you need to either have a flood rider added to your policy or purchase Federal Flood Protection Insurance.

Weather can be unpredictable and can cause major damage to your home. To make sure that you have the coverage that you need, call Safechoice Insurance Agency in Rochester, MN. They will be able to help you with any questions you may have.

Is it Time for Your Teenager to Get Their Own Auto Policy?

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One of the most exciting times in a teenager’s life is when they get their driver’s license. This transition to adulthood is also full of a high amount of responsibility. If your teenager is on your family policy, it may be inflating your policy. Teenage drivers are not known for their care and responsibility and their insurance rates reflect that reality. When their driving history contains any mishaps, even those that are minor in nature, the situation can become more serious. Parents in the greater Rochester, MN area have long relied on Safechoice Insurance Agency to help them determine the most efficient way to safeguard their teen drivers.

Multi-Driver or Individual Policies? Which is Right for Your Family

Young drivers are able to remain on their parent’s insurance policy throughout their teenage years, but there may be some instances when it makes more sense for them to get their own policy. If your child uses the family car on an irregular basis and is not driving themselves around on a regular basis, it will likely make sense for them to remain on the family policy. Insurance rates can go up if the teen is using the car for regular driving to and from school or work. 

If there is a history of accidents or even small claims, there can be a sizable impact on the family policy that may make it necessary for the teen to seek their own. A local agent can help you determine which option is right for your family.

Ready to review your family’s multi-driver policy? Contact the team at Safechoice Insurance Agency today to learn more. Our team is dedicated to serving the needs of our friends and neighbors in the greater Rochester, MN community.