How much life insurance is enough?

Life insurance is something that you do to protect your family and loved ones, not yourself. It is not easy to think about since it brings to mind your death and perhaps even an untimely one. As hard as it may be, it is necessary if your family is to be provided for. At Central Lakes Insurance Brokers in Edina, MN, we are here to help with this challenging decision. We have many options to offer to make it easy and affordable to get enough life insurance. 

Your life insurance needs do not stay the same for your entire life. When you are young and single, your needs will be lower than once you have a family. Still, when it comes to determining how much certain considerations remain the same.

Who depends on you?

Even if you are single, there may be people who depend on you. How would they manage if you were not there to help them out? That may help shape the amount of life insurance that is enough for you. 

Do you have any debt?

The last thing that most people want to do is to leave their family or loved ones with bills to pay if something should happen to you. You need to have enough for final expenses and any debt, and if you don’t have cash, life insurance covers that. 

How much is enough?

The actual amount is determined by what you earn yearly and how many years you need to provide income. If you have young children, it can be many years. Take the number of years and multiply it by your income, and you have a figure to shoot for. 

Contact Central Lakes Insurance Brokers in Edina, MN to get the help you need to ensure you have enough life insurance.

Do You Need Auto Insurance in Edina, MN?

If you’re a driver in Edina, MN, you need auto insurance. That’s because Minnesota requires all drivers to have liability coverage. If you cause an accident, your insurance will pay for the damage to the other person’s vehicle if you’re at fault.

Liability Coverage

There are other types of auto insurance coverage available, but liability is the only one required by the state of Minnesota. If you cause an accident and your damages exceed your liability coverage, you’ll have to pay for the rest out of your pocket. That means you could technically get by with just this one type of coverage, but it’s not recommended.

Other Types of Coverage

If you want to be fully protected, you’ll need more than a liability policy, such as collision and comprehensive.

Collision Coverage

Collision coverage will pay for the damage to your vehicle if you cause an accident. This type of coverage is optional, but it’s a good idea if you want to be protected from paying out of pocket for repairs to your vehicle. Your Central Lakes Insurance Brokers representative can help you find the best policy for your needs.

Comprehensive Coverage

Comprehensive coverage will pay for the damage to your vehicle if it’s damaged in an incident that’s not an accident, such as a storm or theft. This type of coverage is optional unless you have a vehicle loan, which may require extra insurance. However, it’s still a good idea so that you won’t find yourself without a car and extensive repair bills.

If you’re a driver in Edina, MN, it’s crucial to have auto insurance. Make sure you have liability coverage to protect you from an accident. You may also want to have collision and comprehensive coverage to protect your car in other situations. Your Central Lakes Insurance Brokers representative can help you find the best policy for your needs.

How do business owners in Edina benefit from having commercial insurance?

In the Edina, MN area, the strong economy and local business support can make it a great place to start and grow a new business. While there are a lot of benefits that come with running a business in this part of Minnesota, there are some risks as well. Businesses in this part of the state can mitigate these risks and benefit in various ways with a proper commercial insurance plan. 

Protect their Assets

One of the ways that a business in Edina can benefit from having a commercial insurance plan is that it will help them protect their assets. If you start a business, you will need to buy assets and equipment to get your company off the ground. With the right commercial insurance plan, you will get all the coverage you need so these assets can be replaced or repaired. 

Mitigate Liability Coverage

Those that are going to get a commercial insurance plan will also enjoy the liability coverage. Business owners will take on liability risk regularly. These risks will always be present. It is vital that you mitigate the concern. A great way to do this is with a commercial insurance plan. With this coverage, you will have the support you need to minimize these liability claims.

Those who wants to start a business in the Edina, MN area will want to have a proper commercial insurance plan in place. When you are ready to start looking for a plan, a good place to start is by calling the Central Lakes Insurance Brokers. There are a lot of choices to make when looking for coverage, and the Central Lakes Insurance Brokers can ensure you are adequately covered. 

How Much Home Insurance do I Need?

You faithfully pay your home insurance premiums every year, but have you ever asked whether you carry a sufficient amount of home insurance? There is nothing more frustrating than filing a claim only to find that you are underinsured. Reviewing your home insurance to see whether it’s sufficient is crucial in eliminating heartaches when disasters strike.

But because navigating home insurance alone can be daunting. Central Lakes Insurance Brokers won’t let you walk the journey alone. Please contact us to become your go-to insurance agent for all your home insurance needs. We also educate our clients in matters concerning insurance. Today, we guide you on carrying enough home insurance in Edina, MN. Let’s dive in.

Choosing the right dwelling coverage?

Dwelling coverage compensates you when your home is damaged or vandalized by a covered peril. So, when choosing the right amount of coverage, you should get an amount sufficient to rebuild your dwelling from scratch.

How much would it cost to rebuild your house today? That would be the amount of dwelling insurance you need to purchase. Having adequate dwelling insurance ensures you receive full compensation in the worst-case scenario.

Choosing the right content coverage

Contents insurance pays for the damages and losses occurring to your assets, including electronics, furniture, and clothing, among others. An excellent way to keep track of everything you own is by keeping a home inventory.

Ultimately, you should purchase content insurance sufficient to replace all your personal assets.

Choosing the right liability coverage

Most homeowners pay attention to dwelling coverage without realizing that liability coverage is equally important. Most liability coverage options for home insurance cover up to $100,000, but this amount is never enough when you face significant liability claims.

Consider liability coverage of at least $300,000 or $500,000 if you don’t have budgetary restrictions. If you need higher liability coverage, umbrella insurance is an excellent option.

Home insurance in Edina, MN

Still not sure about how much home insurance you need? Please get in touch with Central Lakes Insurance Brokers for further clarification.

I’m young. Do I need health insurance?

Health insurance can ease your pockets when it comes to healthcare. Even if you’re young and healthy, you may experience health issues that require you to see a doctor. However, paying out of pocket can be quite costly. Regardless of your age, preventative healthcare is a good way to stay healthy and address potential health issues. This can become costly if you don’t have health insurance to make your health care more affordable. 

What is Health Insurance?

When you invest in a health insurance policy, you’re investing in a way to financially cover both preventative and unexpected health situations. Our team at Central Lakes Insurance is proud to explain the numerous benefits of health insurance to our Edina, MN residents.  We are health Brokers that take pride in explaining why medical coverage for illnesses, injuries, and conditions can be beneficial to people of all ages, even the very young. Many people can get coverage through an employer. However, it’s possible to invest in health insurance on your own as well.

What are the Benefits of Health Insurance?

Health insurance takes the bite of medical care in a financial sense. You often pay a small portion for your healthcare visits, called a copay. You will pay less for any covered-in-network doctor visits. This is true, even before you’ve met your deductible. Commonly covered care includes preventative care, checkups, and screenings, as well as visits for injuries and other health issues. 

How Does Health Insurance Work?

In short, health insurance makes healthcare affordable. It’s a way of paying for both your preventative health and any unexpected health issues. It works like car insurance, or home insurance, similar to the way most health insurance policies work. Either through your employer or your own initiative, you pay a specific rate/premium, monthly. In return, a portion of your medical fees is paid by your health insurance for covered medical expenses. Our team at Central Lakes Insurance are Brokers who are dedicated to providing the best healthcare options for our Edina, MN customers. Give us a call. We’re here to help. Central Lakes Insurance Brokers can help you get the insurance you need to suit your unique situation. 

3 Things to Consider Before Purchasing Home Insurance

Whether you have just bought your home or moved to a rented one, getting home insurance is crucial. It offers protection for your home and your possessions as well. Central Lakes Insurance Brokers offers insurance policies for homes to ensure that your valuable possessions are covered against various calamities. If you are a resident of Edina, MN, you can talk to our experts and choose the most suitable cover for your home.

Here are some of the things you should consider before buying home insurance.

Damages Caused by Natural Disasters

Check which damages caused by natural disasters are covered by a policy before buying it. Some policies don’t cover some specified disasters. Some cover these disasters, but upon paying additional amounts to the premium cover.

Coverage Provided

Policies differ when it comes to the kind of coverage. To choose a suitable coverage for your home, determine what you need to be covered and select an insurance cover that provides it. For example, you can choose a policy that only covers the building or include furniture and inbuilt appliances.

Building a home and furnishing it is very expensive. Don’t risk losing everything one day and getting back to zero in case of damages. Let Central Lakes Insurance Brokers serving Edina MN cover your home and the valuable possessions you have.


Deductibles are the expenses you pay for from the pocket when you make a claim against damages. When choosing your insurance cover, make sure you know the deductibles. This avoids paying a huge amount of cash to fix damages.

Getting insurance for your home is one of the best decisions you can ever make since unforeseen events may happen in the future. Contact Central Lakes Insurance Brokers serving Edina, MN to learn more about home insurance and check out various home insurance plans we have.

Is Commercial Insurance an Asset?

Central Lakes Insurance Brokers offers commercial insurance to Edina, MN small business owners. At Central Lakes Insurance Brokers, we strive to serve our community with ultimate passion and integrity. Starting a business entity in Edina, MN is sometimes a daunting task. Various perils like fire, theft, hail and vandalism can strike unexpectedly, jeopardizing your business activities. This disruption of your business can culminate in massive financial constraints, therefore, affecting your business’s income. Nevertheless, buying magnificent commercial insurance can go a long way in safeguarding your business and your employees. Keep reading to establish why commercial insurance is a worthwhile asset.

It’s a legal requirement.

Many states, including Minnesota, require small businesses to carry workers’ comp insurance if a business entity possesses more than one employee. It caters to the medical expenses accrued by your workers if they sustain a work-related injury or get a general ailment.

Protection of employees

 Workers’ comp can safeguard them if your workers sustain injures or get sick while working on your business premises. This coverage helps cater to employees’ medical expenditure if they sustain an injury or contract sickness. Workers’ comp insurance also pays for missed wages and funeral benefits.

Protection of assets

 Vagaries of nature can strike at any time, causing devastating damage to your business. Therefore, commercial insurance is a formidable option that can guarantee and safeguard a business’s assets. For example, many business entities possess treasured fixtures and equipment that are expensive to replace. When calamities strike and damage assets or your assets get burglarized, a commercial insurance policy will provide you with the funds you need to replace your assets. 

Liability protection

  When you sell a particular product or offer a service in your business, you are venturing into a specific form of liability. For example, if a customer gets injured at your place of business, you are likely to be held liable. In addition, general liability coverage caters to lawsuits emanating from slander and copyright infringement.

Are you a business owner in Edina, MN searching for commercial insurance to safeguard your business and employees? Please call or visit us at Central Lakes Insurance Brokers; we do our best to ensure our clients are guarded with affordable and sufficient coverages. 

How to keep your home safe while you are away

Your home is the center of so much of your life. Keeping it safe and protected makes perfect sense. Having the right insurance agent and the right policy make that possible. At Central Lakes Insurance Brokers in Edina, MN, we are committed to providing quality insurance products and helping our current and future customers manage potential risks. Our team of knowledgeable professionals has the tools they need as independent agents to provide what you want and need.

Getting away is perfect for relaxing, but in order to relax, you have to have confidence that your home is safe while you are away. By taking some simple steps, you can be more confident that everything will be well while you are away. 

Arm your security system

If you have a home security system, it can only help protect your home if it is armed and ready. Making sure it is operational and will do its job is important. 

Stop your mail

You can go to the postal service website and set up a temporary stop. Always start it a day or two early to make sure that it is actually working. 

Talk to your neighbors

If you are friendly with your neighbors at all, let them know you will be away and ask that they keep their eyes open for anything unusual. If you are not friendly with your neighbors, have a friend or family stop by while you are away to make sure things are okay. 

Don’t announce your plans

Don’t announce your plans on social media. You never know who might see your plans and take advantage of your absence. Share your pictures when you return, but not while you are away. 

Contact Central Lakes Insurance Brokers in Edina, MN when you are ready to discuss your home insurance needs.

What Can Recreation Insurance do for You?

Some of your best days are spent out and about on your ATV or in your RV. These recreational vehicles bring joy to millions of Americans every year. So, why wouldn’t you protect that investment with a recreational insurance policy? Simply put, this type of insurance is meant for recreational vehicles.

However, it is important to note that purchasing coverage for some recreational vehicles like boats, requires a completely separate policy. In Edina, MN, the Central Lakes Insurance Brokers are the agents you will want to speak with about purchasing a recreational insurance policy.

The Basics of Recreational Insurance Policies

One convenient truth about recreational insurance is that it can be attached to most home and auto policies! This makes it easy to provide coverage for those off-roading vehicles you enjoy so much. There will be exclusions to which vehicles qualify for coverage under this type of policy.

For instance, it typically boils down to whether or not you drive the vehicle on the road. So, if you have a set of four-wheelers or ATVs that you only drive on your property, then chances are you can get coverage. Your insurance agent from Central Lakes Insurance Brokers can give you more details about what vehicles can be covered under a recreational insurance policy.

Benefits of Pairing Your Recreational Insurance with a Home or Auto Policy

Many times, insurance companies will offer discounts when you bundle your insurance policies. Whether your policies qualify for bundling depends on which ones you have. However, it is always a good idea to consult with your insurance agent about how you can keep prices low. 

If you are able to bundle a recreational insurance policy with your auto policy, know that there are great benefits to doing so. For example, the coverage you receive could cover things like bodily injury, property damage, and so forth. Contact Central Lakes Insurance Brokers in Edina, MN for your recreational insurance policy!

Common myths about umbrella insurance you should know

Umbrella insurance is the safety net you run to when your typical liability coverages run out. Umbrella insurance helps you or your business survive when faced with significant liability claims. While umbrella insurance is vital, you are likely to come across misinformation that may crowd your judgment when shopping for coverage. Thankfully, Central Lakes Insurance Brokers of Edina, MN is here to help you avoid common myths about umbrella insurance.

Myth#1: Umbrella insurance is a stand-alone policy

Umbrella insurance isn’t offered as an individual policy. It rides on existing coverages like home, boat, business, or auto insurance. Simply said, umbrella insurance is a rider/endorsement that enhances an existing coverage.

Myth#2: Umbrella insurance is for the wealthy only

You might have heard someone say that umbrella insurance is for the rich and famous only. This preconceived notion is partly true. While umbrella insurance protects individuals with significant assets, umbrella insurance is suitable for anyone earning a livelihood.

We live in a litigious society. And since anyone can be sued, umbrella insurance becomes a must to protect you from significant claims that can wipe out your assets and future earnings.

Myth#3: Umbrella insurance is too expensive

Another myth peddled around is that umbrella insurance is out of reach for most people. Fact check: A research done by Insurance Information Institute shows that it will cost you less than a cup of coffee per day for an umbrella policy of $1,000,000!

Is this too much a cost to protect your assets?

Myth#4: I already have home or auto insurance. I don’t need more coverage

While home or auto insurance is pivotal, it doesn’t protect you when faced with significant claims. Suppose your car insurance has liability coverage of $300,000. If you cause a severe accident, liability claims can exceed $500,000 and counting. Without umbrella insurance, your personal assets could be in jeopardy.

Buy umbrella insurance today!

Read the news today, and you will come across information about someone losing their assets due to expensive lawsuits. The good news is that you can avoid going this route by buying insurance from Central Lakes Insurance Brokers serving Edina, MN and its environs. Contact us today for an affordable quote.