HOW CAN WE HELP YOU?

Click to Call
Central Lakes Insurance Brokers

4820 W 77th St #125
Edina, MN 55435

Get Directions
Featured Insurance Blog

Homeowners: Purchasing Your First Home

The purchasing process for a new home can be an exciting time for people. But, the planning and paperwork through all of it can be easier with useful contacts and helpful tips for organizing. Having this worked out can make the process easier, and the planning is simplified with an experienced insurance agency. Central Lakes Insurance Brokers is available to answer any questions you might have about the insurance planning for a new real estate purchase. Serving the Edina, MN area, our insurance agency is experienced with helping people through the process of purchasing their new home. This experience is vital with all of the paperwork and planning that goes into finding and acquiring that first property. 

Homeowners are often excited to begin planning their move. Excellent communication is essential when it helps the new homeowners know the best-estimated move-in date and what to prepare for before the move. Organizing and planning efficiently can help simplify the process and make it comfortable when moving into your new home. Having the necessary paperwork completed is a significant part of the process, and any ways to simplify the planning are appreciated by many busy owners getting ready to move into their new home. A home insurance policy can protect your home from a variety of events. Knowing you have the right policy in place provides confidence for this new home.

Central Lakes Insurance Brokers is experienced when it comes to working through the process of home insurance paperwork for new homeowners. You can contact our agency and get more information about home insurance and the paperwork needed for purchasing this enormous asset. You can call our trained staff and have your questions answered. Homeownership in the Edina, MN area is an incredible opportunity. This can be exciting, and the new acquisition should be a call for celebration when making the decision to pursue a home purchase.

 

Does Your Home Business Need Commercial Coverage?

If you’re running a business from your Brainerd or Edina, MN home, you may wonder if it’s necessary to get commercial insurance coverage. At Central Lakes Insurance Brokers, we can help you determine what kind of insurance your home-based enterprise needs. The right insurance coverage can protect your business against perils that can set you back financially. Here are some insurance options to consider for safeguarding a home business.  

Business Property Protection

If your home-based business requires the use of a computer, printer, office furniture, fax machine or other costly equipment, you can benefit from business property coverage to protect this equipment against theft or damage. Homeowners’ insurance doesn’t generally cover equipment used for business purposes, putting these items at risk should you have a break-in or accidental fire.

Liability Coverage

If your business requires that clients visit your home, you’d do well to obtain liability coverage to protect you against accidental injury or damage to a client’s property. Otherwise, you could wind up paying for these damages out-of-pocket.

Professional Liability Coverage

If your home business entails providing professional services such as accounting or consulting, you may want to obtain professional liability insurance to protect yourself against claims of negligent or fraudulent services. If a disgruntled client sues you for damages, your professional liability coverage will help cover legal and settlement costs.   

Commercial Auto Coverage

If you use your car for business-related visits, pickups or delivery, you’ll need commercial auto coverage to protect you against accidents as personal auto coverage doesn’t cover business use of your car.

Commercial insurance can protect the future of your home-based business to give it a chance to grow and prosper. For more information on commercial insurance options and costs for your budding home enterprise, contact Central Lakes Insurance Brokers in Edina, MN.

What is Replacement Cost Coverage for Home Insurance?

Research studies of home insurance in America find that up to two-thirds of the homes are either not insured or underinsured. Very few homes have no insurance coverage; however, a study by CoreLogic concluded that 60% of American homes are underinsured by an average amount of 20% of the value.

The median home value in Edina is $425,000. The statistics predict that three out of five of the homes in Edina are underinsured by as much as $85,000.

Another startling statistic reported on Yahoo is that 58% of Americans have less than $1,000 in savings.

If these are your circumstances, what happens if a natural disaster or a fire destroys your home completely? How will you be able to come up with potentially a missing $85,000?

How do you know if you are underinsured?

Work with your agent at Central Lakes Insurance Brokers, serving Edina, MN and the surrounding area, to find out if you are underinsured and then consider the benefits of having replacement cost coverage.

Replacement Cost Coverage

Replacement cost coverage is designed to be able to replace a home that is damaged and bring it back to a like-new condition that is as close as possible to how the home was before it was damaged. Replacement cost coverage is usually a better choice for coverage because insuring a home for actual value may be far less than what is needed to rebuild a home if it is destroyed.

Most people benefit from having replacement cost coverage. To make sure the amount of coverage is kept up-to-date with current prices, it is a good idea to have a home insurance review regularly, at least once per year.

To get a home insurance review and a quote for home insurance, contact your agent at Central Lakes Insurance Brokers in Edina, MN by calling our office or use the convenient online rating tool.

Recreational Insurance for Lake Property Owners

We at Central Lakes Insurance Brokers know that Edina, MN, and individuals in the surrounding area have many lakes from which they can choose for their recreational fun. And if you own property on any of these lakes, you may want to consider high-quality recreational insurance.

Insurance Protects Your Vehicles

When you own property on a lake, you likely already own a large number of fun vehicles. High-quality recreational coverage is designed to cover these items, even if they are located in a single spot. In this way, you can get the most protection for your sometimes expensive items.

For example, if you have a camper, a boat, jet skis, or other vehicles that you use primarily for recreation, you should get them covered with a new policy. This option is an excellent choice if you have already spent good money on your property and want to keep it looking great.

Policies Also Cover Your Property

If you own recreational vehicles on your property, you also likely own buildings to hold these items. Thankfully, there are some situations in which your recreational insurance may help to protect against damage to these buildings.

While this type of coverage isn’t designed specifically for buildings like these, you may get some coverage in certain situations. For example, an accident on a dock or a boathouse caused by a recreational vehicle may be covered under the liability clause of your insurance policy.

Get Coverage Today

So if you own lake property in Edina, MN, the land of lakes, and you want recreational insurance for your belongings, make sure to contact us at Central Lakes Insurance Brokers to learn more. Our experts will set you up with a policy that meets your needs and which satisfies your purchasing decision.

When Does My Umbrella Insurance Become Active?

Umbrella insurance is a unique insurance product that pops up just when you need it – like an umbrella. It is not for everyone and a professional broker is the best person to speak with about whether you should have umbrella insurance connected to your standard insurance policies. There is no one answer to the titular question.

Umbrella insurance becomes active at certain levels of liability. In the event that your liability has surpassed your standard insurance limit  – meaning you are responsible for an amount that exceeds your standard insurance level.

This is an illustration: your standard insurance covers up to a certain amount for an accident that may have occurred in front of your business. The individual has received an award for an amount that exceeds the amount set by your standard insurance. Your umbrella insurance will cover the amount over the standard insurance level .

Umbrella insurance can attach to other insurance products as well. It is essential to speak with a professional so that they can let you know whether your particular situation dictates the necessity for this particular type of insurance product. There are various factors involved such as the type of businesses you own, (if any), Certain professions incur more liability than others. You must also discuss with your broker the levels of the standard policy.   

We look forward to helping you today to learn how we can craft the best umbrella policy for you.   

Contact one of our bright and knowledgeable insurance agents today by calling us or coming by our office in Edina, MN 55435. Not only can we help you with umbrella insurance we can also help you with your: auto insurance, home, commercial, boat/watercraft, life, health, recreational, renters, umbrella, and renters insurance. The brokers at Central Lakes Insurance Brokers are here to help. 

Do Teenagers Need Health Insurance?

Health insurance may seem too expensive for many teens to afford on their own. However, if you live in Edina, MN and are a teenager – or are raising one – you should really consider a policy. Thankfully, we at Central Lakes Insurance Brokers can help you find the right one for your needs.

Teenagers Should Consider Insurance Plans 

While it is true that most teenagers will likely be healthy enough to avoid most types of medical procedures, there comes a time when many may need health coverage. For example, some teens may catch venereal diseases if they are sexually active or suffer from broken bones after a sports game. 

These common health issues can be very frustrating or even dangerous if you don’t get medical help. And thankfully, medical insurance will cover treatment for these issues. And there are many ways that you can get these types of policies. 

Coverage Options 

Most teenagers should qualify to be covered under their parent’s insurance plan. The highest age that you can be covered is typically 26 in most states, which means that you can avoid having to pay for an expensive policy. Pitch in to help your parent pay for theirs, though. 

However, some teens can purchase policies such as student health plans if they go to college or may qualify for Medicaid if they don’t have a lot of money. The types of policies available will vary based on your state but can provide you with a variety of unique benefits and coverage choices. 

Don’t Hesitate to Get Help 

If you live near Edina, MN and want high-quality insurance for a teenager, please contact us at Central Lakes Insurance Brokers right away. We serve this city and the surrounding area and can provide you or your teenager with the policy that works best for your overall needs. 

Does LIfe Insurance Cover Only Funeral Expenses?

Life insurance is something that anyone can benefit from and that many families could use when they lose a loved one. Unless you have a policy however, your family is not going to be able to benefit from this type of protection. For those that live in the Edina, MN area, the agents with Central Lakes Insurance Brokers can help you find the right policy for you and can tell you just what it covers.

When most people hear the words life insurance they immediately assume that these funds cover only funeral expenses. This is not the case, however. Unless you buy funeral insurance that is only for funerals, life insurance can cover anything you deem fit. Life insurance works in a simple way, the policyholder pays the premiums until the policy either matures as with term insurance, or until the time of their death as with whole life insurance. The money is then paid out to the beneficiary after death has been affirmed and the proper forms and death certificates have been filed.

In most cases, unless otherwise specified, the money comes to the beneficiary in the form of a check that they can then cash, deposit, save and do whatever they want to do with it. In most cases, if the death was sudden or previous arrangements had not been made, beneficiaries will pay the funeral expenses out of the life insurance balance. Life insurance is to be spent and used at the discretion of the beneficiary and is meant to help ease the transition of life with the policyholder to life without the policyholder.

For those that live in the Edina, MN area, the agents with Central Lakes Insurance Brokers can help you to get the policy you need and the amount of coverage you need as well.  

Auto Insurance Add Ons to Consider

Your basic auto owner’s insurance gives you standard coverage over your vehicle. However, there are limits to what your current auto insurance policy is able to provide, which means you may be at risk for out-of-pocket expenses. Instead, there are a number of auto insurance add-ons to consider. If you live in or around Edina, MN, Central Lakes Insurance Brokers can help you sift through the different policy options to find what works best for you and your budget. 

Roadside Assistance

You never know when you’ll have a problem with your vehicle while away from the house. This might be a dead battery, a flat tire, or something more serious. Contacting a tow truck, especially if you’re more than a few miles away, really adds up. Roadside Assistance provides you with this coverage. 

Personal Injury Protection

If you are injured during an auto accident you’ll find PIP coverage will cover more of your healthcare costs than standard auto insurance (and likely your health insurance). Even if your health insurance provider covers some of these expenses, adding PIP to your current coverage will help pay for co-pays and deductibles. 

Uninsured Motorist Coverage

If you’re ever involved with a driver who isn’t insured you may be stuck paying the bill. Uninsured motorist coverage protects you from this issue. 

If you haven’t gone over your auto owner’s insurance policy in some time there is no time like the present. With the aid of Central Lakes Insurance Brokers, a professional agent can look over your current policy and help you decide if there are add-ons that will improve your coverage (and save you money). So if you have questions about your current policy and live around Edina, MN, now is the time to give Central Lakes Insurance Brokers a call. 

How often should I have my commercial policy reviewed?

It’s important that your commercial insurance policy grow right along with your company. Business owners in Brainerd, MN who haven’t had their policy reviewed in awhile should contact the agents at Central Lakes Insurance Brokers to find out if they need to upgrade or change their commercial policy in any way. Maintaining the right type of coverage is the best way to ensure that you are fully protected against any type of financial loss.

Has Your Business Changed?

Anytime that your business grows or expands, you will want to review your policy. Even if your inventory remains the same, other aspects of your business may have changed significantly. Some changes may be so gradual that you don’t realize they are occurring until a few months later when you begin to see changes in your profit and loss statements. Knowing about these changes and how they impact your business are just two of the things you should consider when reviewing your policy.

Protecting Your Investment

The most important thing you can do in terms of protecting your investment is to have the right type and amount of insurance in place at all times. Being prepared before a disaster occurs is what will help you make it through a difficult time. The first step is talking to your insurance agent. 

The agents at Central Lakes Insurance Brokers are available to help business owners in Brainerd, MN evaluate their insurance needs. Evaluating your policy is the best way to be fully protected. Call and talk to one of the agents today to ensure that your business has the coverage it needs.

Making Sure You Have Enough Home Insurance Coverage

Determining how much home insurance coverage and making sure you have enough in Edina, MN is going to be on a case-by-case basis. However, there are some things you can discuss with your agent at Central Lakes Insurance Brokers to ensure adequate coverage.

  • Determine the Coverage for Your Home Structures: You want your limits to be enough to cover rebuilding your home. The current market value or the amount you paid for your home may not be the cost to rebuild, and there are some other things to keep in mind. Factors that affect rebuilding costs include square footage and local construction costs. Certain details will also impact costs, including the type of roof, number of bathrooms, style of house, and exterior wall construction. If there are unique features, such as fireplaces or arched windows, these need to be taken into consideration.
  • Determine How Much for Your Possessions: In order to have a full understanding of how much coverage you need for your personal belongings, you need to do a home inventory. This is also a good record to have should you need to file a claim. Take stock of any expensive items, such as collectibles, furs, and jewelry. There may be limits on these items, and you could need additional insurance for full coverage.
  • Determine Additional Living Expenses: Most policies will provide about 20% of the insurance on your home for additional living expenses while your home is being repaired, but you can also increase this amount.
  • Determine Liability: Your liability coverage should be enough to protect your assets. Most policies will provide $100,000 in coverage, but you should have more if you have savings and investments that are worth more than this.

Contact Central Lakes Insurance Brokers, serving Edina, MN, to get a quote on home insurance.