How much life insurance do I need?

If you are in the process of shopping for life insurance here in the Edina, MN area, you may be asking yourself: "How much life insurance do I need?" The answer to this question is not a one-size-fits-all answer. Instead, the right amount of life insurance coverage is determined by several factors, such as income, financial obligations, and other aspects of your life. At Central Lakes Insurance Brokers, we have some suggestions.

Calculate your family’s current income, debts, and expenses to know how much coverage you need. This will give you an idea of how much money your family will need if something happens to you. Once you have completed this step, consider any other future needs, such as college tuition for your kids or retirement funds for your spouse. Then add all these numbers together to arrive at a total dollar amount that would cover those needs in the event of your death. 

The next step is to decide which type of policy best suits your needs and budget. Some term-life policies offer coverage for a specific period, while whole-life policies provide permanent protection with an investment component built into them. After evaluating both types, determine which provides the most security and value to your and your family’s needs. 

The final step is to contact an insurance agent or company who can help you choose the right policy and determine the exact amount of coverage needed. For more information, call us at Central Lakes Insurance Brokers today. We are proud to serve the Edina, MN area.

How To Talk To Aging Parents About Driving Safety

Addressing challenges with aging parents can feel awkward and uncomfortable. However, as an adult child, you must help your aging parents navigate these years safely. This means addressing important topics such as driving safety. Here at Central Lakes Insurance Brokers, serving Edina, MN, we want to help you with these important topics. Keep reading to learn more about talking with parents about driving safety. 

Address Problems Quickly

If your aging parent is already experiencing safety issues with driving, you cannot ignore the problems. Even though this may feel very foreign to you, you must address the problems quickly for their safety. Driving safety issues could include traffic violations, accidents, or near accidents. Please pay attention to anything your parent shares concerning close calls they may have had while driving. A great way to gauge how well your parent is driving now is to intermittently ride with them somewhere as they drive. 

Be Gentle When Addressing Problems 

Your parent will react better to a conversation that is founded on compassion and concern rather than anger and irritation. Consider how you will approach these conversations, and be sure to approach them intentionally and thoughtfully, not emotionally and without forethought. 

Consult With Their Doctor

If driving safety quickly becomes an issue, you might consider consulting with their doctor. This might give you better insight into what they are dealing with that might affect their ability to drive safely. 

If you want to learn more about auto insurance, please get in touch with us at Central Lakes Insurance Brokers, serving Edina, MN, and the surrounding areas. We will happily answer your questions and find the right insurance products for you. 

What Types of Coverage Are Available Under Commercial Insurance?

Many Minnesota residents are entrepreneurs since the state has numerous business opportunities. Commercial insurance is a must-have if you have a business and want to protect it from financial loss. Commercial insurance encompasses many coverages, each protecting specific perils. At Central Lakes Insurance Brokers in Edina, MN, we suggest you include coverages that give your business maximum protection in your commercial insurance. Some types of coverage that you should prioritize are: 

  • General liability coverage: This coverage protects you from claims related to your business operations. For instance, if someone is injured on your business premises or you damage their property, general liability will compensate them for their injuries or losses. 
  • Workers’ compensation coverage: This coverage takes care of medical expenses, lost wages, and related losses if your employee gets injured while working. It will also compensate you for your legal defense in case the employee sues you. 
  • Commercial property coverage: This coverage safeguards your business assets from theft or damage. For instance, if your business computer is stolen, commercial property coverage will pay to replace it. 
  • Professional liability coverage: This coverage shields your enterprise from the cost of injuries or damages that happen due to the professional services you offer. For example, if your clients claim that your failure to provide appropriate services caused them to incur a loss. The coverage will also compensate your legal expenses in case your clients sue you. 
  • Commercial auto coverage: This coverage protects your enterprise from the costs associated with injuries and damages caused by vehicles you utilize for business purposes. For instance, commercial auto coverage will compensate you and the crash victims if your business vehicle is involved in an accident. 

Do you need commercial insurance in Edina, MN? At Central Lakes Insurance Brokers, we have been helping businesses get suitable commercial insurance for years. Contact us today, and we will help you safeguard your business financially. 

Should everyone get home insurance in Minnesota?

Anyone that owns a home in the Edina, MN area will want to know that they are adequately covered by insurance. This can be a great way to protect your dwelling and receive other benefits. There are various reasons why everyone here should get this coverage for their home.

Protect Dwelling and Personal Assets

All people in this part of Minnesota should get home coverage to protect their dwelling and personal assets adequately. When you buy a home, you will likely make the most significant personal investment. Along with this, it will be vital that you remain appropriately insured. You will get coverage to protect your home and personal belongings with home insurance.

Liability Coverage

You will also want to have home coverage to receive liability insurance. If you choose to purchase a home, you will take on additional personal liability risks. A great way to mitigate this risk is by getting home insurance. With this coverage, you will receive liability coverage that can ensure you are covered in some situations. 

Insurance is Required

It can also be a good idea to get insurance to meet any set requirements or standards. A lender likely requires you to carry insurance if you have taken out a loan when buying a home. Further, many home associations require insurance from all owners.

When buying a home in the Edina, MN area, you should call our Central Lakes Insurance Brokers team. When you call our professionals at Central Lakes Insurance Brokers, you can learn much more about your coverage options. This is a significant first step towards getting the right plan that meets your needs. 

Should I Keep Recreational Insurance All Year Round?

A proverb goes, all work without play makes Jill and Jack dull. After a week-long at work, you may need to take that weekend away and unwind. You may choose to have it within your area of residence or maybe take a road trip to a destination miles away from home. At such a time, your plan is to relax and have a fun-filled trip; the last thing you want is an incidence of loss. Central Lakes Insurance Brokers serving Edina, MN, offers recreational insurance to help you secure your vehicle.

Secure Your Fun All Year Round!

Your recreational vehicle may not be in use all year round, but it is crucial that you ensure you are covered all year round by your recreational insurance because of the following reasons:

  • This may cause damage to your recreational vehicle as well as the other parties in the event of a collision. The insurance will therefore cover the repair of either of the destroyed vehicles. In the event of irreversible destruction or loss through theft, the insurance will cover total replacement.
  • Injury caused by an accident during travel. When a passenger gets an injury as a result of an accident during travel using the recreational vehicle, the insurance then covers their treatment,
  • If there is a break-in where your recreational vehicle is parked and your recreational vehicle is stolen, your recreational insurance cover will be of great assistance towards its replacement.

Are you a resident of Edina, MN? Consider insuring your recreational vehicle all year round to protect yourself from the potential distress that may come with unexpected damage or loss. At Central Lakes Insurance Brokers, we will ensure you are at peace during your road trip. Renew your recreational insurance, and you can now go on that road trip or engage in that recreational activity stress-free because we have you covered all year round.

How to Choose the Right Health Insurance for Your Entire Family

Health insurance is the type of protection you don’t want to be without in life. This is especially true if you have a mid-sized to large family to think about. Even healthy people who take good care of themselves can face the unexpected, so it’s essential to be prepared.

Here’s what you need to know about choosing a health insurance plan that will be appropriate for everyone in your household. And be sure to call your Central Lakes Insurance Brokers agent to go over any further questions you might have.

Make sure your doctors and hospitals of choice are included.

If you have a decent-sized family, then the chances are pretty good that you already have doctors, clinics, and hospitals that you’ve come to trust with your collective health. These are providers that know your history and with whom your children are comfortable, as well. You’ll pay more to seek services outside your policy’s specified network, so make sure any essential providers are included.

Check to ensure ongoing needs are covered.

Do any of your children have chronic conditions that require management or medication? Do you or your spouse expect to need treatment for something specific in the near future? Make sure the plan you’re considering will cover the essential treatments you need and the frequency and duration you need them for.

Find out whether you’re covered away from home.

Families travel for various reasons, including yearly vacations and out-of-town trips to visit relatives. But you should never just assume your health plan will cover you just as well outside your usual service area. Check to ensure you’ll still be covered no matter where your family journeys may take you.

Ready to give your family the gift of superior peace of mind? Get in touch with a Central Lakes Insurance Brokers agent in Edina, MN today to review your plan and ensure it’s in step with your needs.

Top ten tips to prepare a home for a storm

It’s important to be prepared for a storm before it hits. Here are ten tips on how to do just that.

  1. Make a list of the supplies you will need ahead of time, such as flashlights, batteries, emergency candles, first aid supplies, and extra blankets and clothing.
  2. Fill your bathtub with water before the storm hits so that you have a source of fresh water to drink or use for cleaning if necessary.
  3. Also, fill up jugs and bottles with clean water to have a backup supply if tap water becomes unavailable.
  4. Gather food and snacks that do not require refrigeration, such as canned goods, dried fruit and nuts, granola bars, and crackers.
  5. Charge all your electronic devices, like your phone and laptop, so that you can stay connected to the outside world during the storm.
  6. Put important papers and documents in a safe place to protect them from damage or theft. This might include insurance policies, birth certificates, credit card statements, and tax forms.
  7. If possible, park your car in the garage to avoid damage from flying debris or falling trees.
  8. Bring any outdoor furniture or decorations that could be blown around by high winds, such as patio umbrellas, garden gnomes, and bird feeders.
  9. Lock your windows and doors before the storm hits to keep out wind and rain.
  10. Monitor the weather forecast constantly and make any necessary changes to your storm preparedness plan, such as preparing additional supplies or moving to a safer location.

If you have questions about your home’s insurance coverage, give Central Lakes Insurance Brokers a call today. We proudly serve the Edina, MN area.

How to Protect Your Online Business

Whether you’re just starting or you’ve been in business for years, it’s important to know how to protect your online business. With so many threats out there, from cyber attacks to data breaches, it’s essential to have a plan to keep your business safe. In this guide, Central Lakes Insurance Brokers of Edina, MN will cover everything you need to know to keep your business safe online.

Why You Need to Protect Your Online Business

As an online business owner, you are responsible for ensuring the safety and security of your website and its visitors. There are many threats to an online business, including hacking, phishing, and malware. These threats can steal sensitive information, damage your reputation, and cost you money.

Protecting your online business is essential to its success. By taking steps to secure your website and its data, you can prevent these threats from causing harm. You can also create a plan to recover from an attack if one occurs quickly.

There are many steps you can take to protect your online business. First, you should ensure your website is hosted on a secure server. You should also install security software and set up firewalls. Additionally, you should create strong passwords and encrypt your data. Finally, you should keep your software up to date and educate your employees about security threats.

Do You Need Insurance for a Website Business?

You need insurance to protect yourself from potential liability if you have a website business. If someone sues you for something related to your website business, your insurance will help pay for your legal defense. Even if you are not sued, but someone makes a claim against you, your insurance can help cover the cost of any damages you are found liable for.

Without insurance, you would be fully responsible for any costs associated with a lawsuit or claim against your website business. This could include the cost of your legal defense, any damages you are ordered to pay, and other related expenses. Insurance gives you peace of mind knowing that you are protected financially if something goes wrong.

If you’re looking for commercial business insurance in Edina, MN, look no further than Central Lakes Insurance Brokers. Give us a call or stop by our office today, and we’ll be happy to help you find the right policy for your business.

Five Common Mistakes Homeowners Make With Their Insurance

There are so many important decisions that need to be made when you own a house. From mortgage payments to home repairs, it can be easy to let some things fall through the cracks. However, one thing you can’t afford to neglect is your home insurance policy. Homeowners insurance protects your biggest investment, so it’s important to make sure you have the right coverage. Central Lakes Insurance Brokers can help residents in Edina, MN avoid common mistakes. Here are a few of them.

Mistake 1: Not having enough coverage

Your home is likely your most valuable asset, so you’ll want to make sure it’s properly protected in the event of a fire, theft, or other disasters. Central Lakes Insurance Brokers will work with you to make sure you have adequate coverage for your home and belongings.

Mistake 2: Not reviewing your policy regularly

Your needs as a homeowner will change over time, so it’s important to review your insurance policy on a regular basis. At a minimum, you should review your policy once a year when coverage renews.

Mistake 3: Not considering the value of your belongings

Over time, you are likely going to add more expensive items to your home. Be sure to keep your insurance policy up-to-date so that it reflects the value of your belongings.

Mistake 4: Not asking questions

Your home is a big investment, so you want to be sure that you understand your insurance policy. It’s important to know what coverages you have to review and change as necessary.

Mistake 5: Not using an independent insurance agent

An independent insurance agent can give you the personalized attention you deserve. They will take the time to get to know you and your needs in order to find the best policy for you.

Central Lakes Insurance Brokers is an independent insurance agent serving Edina, MN. Contact us today for all your insurance needs or if you would like to request a free estimate.

Is There A Time Period to Purchase Recreational Insurance?

Recreational insurance provides specialized coverage for recreational vehicles not provided by home or auto insurance policies. These are more than campers and motor homes. Central Lakes Insurance Brokers in Edina, MN covers:

  • All Terrain Vehicles (ATVs)
  • Dirt Bikes
  • Snowmobiles
  • Golf Carts
  • Scooters
  • Mopeds
  • Dune Buggies

Why Recreational Insurance Is Needed

Recreational insurance covers liabilities similar to other vehicle policies. For instance, it pays for damaged property or injuries to you or another party. Further, it can help repair your recreational vehicle due to an accident or vandalism or compensate you when it’s stolen.

What’s the Deadline to Obtain Recreational Insurance

Recreational insurance isn’t mandatory in Minnesota. However, the agents at Central Lakes Insurance Brokers recommended it for owners in Edina, MN. For this reason, it’s best to obtain a policy not long after you purchase the vehicle. You won’t be protected if you buy recreational insurance after an accident or injury.

How Much Does Recreational Insurance Cost?

The cost of a recreational insurance policy depends on a few factors. For example, the type of vehicle and its age. Premiums for a brand new dune buggy could be more than a 10-year-old moped.

Another factor is the amount of requested liability coverage. Although there’s a recommended minimum, you may want to increase the values depending on the frequency and where you’ll use the vehicle. How much you want to pay for deductibles also determines your cost. The higher your out-of-pocket payments, the lower your premiums.

In the end, don’t get on your ATV or snowmobile without first considering recreational insurance. Contact a company representative for additional information.