What Factors Void a Home Insurance Policy?

Home insurance is something that is essential for anyone that owns a home. It protects your home from fire, from storm damages, from break in and more. This is a great way to make sure that your home is protected and that you are not going to be out a great deal of money if something happens. If you live in the Wayzata, MN area, the agents with Pizano Insurance can help you to find the home policy that is going to work best for you and your home.

Home policies are not as difficult to void as you might imagine. There are many factors that might void a home policy. A great example is arson, if it is found that you were the one that caused a fire that burned your home down, then in all likelihood you will end up in jail and your home policy is not going to pay out. Another example would be if someone got injured on your property and it was the direct result of your negligence. In this case your home owner’s policy is not going to pay out. Another event in which your home owner’s policy is not going to be valid is if you do not pay your premiums or if it is proven that you are providing fraudulent information to your insurance company.

You should take the time to get all your policy information to find out what the policy covers. Your homeowner’s policy is crucial and can make a world of difference in how easy it is to come back after something terrible happens to your home. If you live in the Wayzata, MN area, the agents with Pizano Insurance can help you to find the right insurance policy for your needs.  

Does Your Homeowners Insurance Protect You If You Rent Out Your Home?

Whether you’re renting out your entire home or simply renting out a room or two, becoming a landlord can have its perks. For starters, it’s a great way of earning extra income while putting otherwise vacant properties and unused rooms to good use. As a responsible Wayzata, MN homeowner, chances are you already have your home covered with a homeowners insurance policy. However, you may be wondering if it protects your home while it’s being used as a rental property.

It Depends on the Rental Situation

Pizano Insurance knows that not every insurance policy is the same. While your homeowner’s insurance covers a broad range of situations, said coverage may differ when it comes to using your home as a long-term rental property.   

If you’re currently living in your home and occasionally rent out a spare room for short periods, you can still rely on your homeowner’s insurance to cover property damage. However, the extent of your coverage may depend on the number of current renters and the length of the rental itself. Some insurance providers limit coverage to occasional weekend rentals while others require an endorsement before authorizing coverage under these conditions.

If you have a second home you plan on renting out long-term, however, you’ll need landlord insurance. A landlord policy provides similar coverage as a traditional homeowners policy – in addition to coverage for property damage caused by wind, fire and other named perils, you’ll also get coverage for personal property left behind for maintenance and upkeep. Appliances and other property used by tenants may also be covered.

Having the right insurance for your Wayzata, MN home is crucial no matter how you plan on using your dwelling. The experts at Pizano Insurance can help you choose the right coverage for your situation.

What Does Your Homeowner’s Policy Cover?

Residents in the Wayzata, MN area understand the importance of homeowner’s insurance to protect their primary property. But do you know what your policy actually covers? While the details of each contract may vary, here are some of the things most homeowner’s policies cover, and a few that they don’t.

  • Your homeowner’s policy will cover your home’s physical structure. This includes the walls, foundation, plumbing, and electrical systems. Other structures on your property, like detached garages and sheds, may also be covered from a range of possible events like fire, theft, or vandalism. Expanded coverages are available for any threats that cause you concern. If you aren’t sure what coverage your policy offers, talk to an expert at Pizano Insurance for a review of your current contract.
  • Liability is an important part of homeowner’s coverage. If someone is hurt while they’re on your property, this coverage pays for their medical bills and helps defray other court-ordered costs associated with the accident. Your liability coverage will even help you pay for a lawyer to fight your case. If the case is decided in your favor, you won’t have to pay back the funds.
  • When your home is damaged due to fire, wind, or other acts of nature, you lose more than a living space. All of your precious possessions are often exposed during a catastrophic event. Your homeowner’s policy will help you replace the clothing, equipment, and personal items that you store on your property. If you run a business out of your home, however, your residential coverage may not be enough to replace all of your things. Talk to an insurance agent about special coverage for work-from-home residents.
  • Some other things that may not be included in your policy are high-value items like jewelry and artwork, pools, trampolines, and sump pumps.

The professionals at Pizano Insurance carry homeowner insurance policies for residents in the Wayzata, MN area. Let us know how we can help keep your private property safe from misfortune.

Homeowner’s Insurance Can Protect You From Slip and Fall Liabillity

Slip and fall claims can be brought against you for many reasons, including sidewalk falls, stairwell accidents and flooring-related slips. Typically, these incidents are covered under a homeowners insurance policy. If you have any questions on what type of homeowner’s insurance you need, contact a representative from Pizano Insurance in Wayzata, MN. In the meantime, here is some information to help you understand your legal rights and obligations regarding other people who visit your property.

Types of Slips and Falls 

Stairway accidents are often caused by objects left on the stairs, while sidewalk accidents often happen when someone slips on ice or snow, or trips on uneven sidewalks. Inside the home, accidents often occur as the result of a guest slipping on uneven or slippery floors.

Regardless of the type of slip or fall, it’s not automatically the homeowner’s responsibility. In order to win a slip and fall case, the injured party needs to show the owner’s negligence caused or contributed to the conditions causing the injury.

This is determined by proving the owner was or was not reasonably safe. For example, homeowners are usually held responsible for keeping the areas where visitors walk safely. A big exception to this is someone who’s committing a crime on the property.

Homeowners’ Insurance and Slip and Fall Claims

If you are liable for an injury that occurred on your property, the next question is whether it’s covered by your homeowner’s insurance policy.
Most policies coverslip and fall injuries as long as the owner didn’t intentionally cause the accident.

Homeowners’ have two types of insurance coverage, liability and no-fault medical. 

Liability covers someone injured on your property. However, if the medical expenses exceed your policy limits, you may have to pay the difference.  Medical coverage, called “no-fault medical coverage.” pays for injured person’s medical treatment, whether the owner is at fault or not.

If you want to learn more about your current policy in Wayzata, MN or determine if there’s another that’s better for you, call Pizano Insurance to set up an appointment for a free quote.

How Soon Should You Inform Your Insurance Company If Your Home Is Damaged?

When you discover that your home has been damaged by inclement weather, vandals, or someone trying to break in, you need to report it your insurance company immediately. If the damage is related to a break-in, notifying the authorities is a must and should never go without being reported. If you live in Wayzata, MN, you can rely on the agents of Pizano Insurance to help you get through an incredibly stressful time.

Time Is Of the Essence

Never wait to report damage. Notify your insurance company immediately so they can evaluate the damages and allow you to get the estimates you need. This will allow you to get the ball rolling and your home back to its original condition in a short amount of time. Reporting damage as soon as it occurs not only saves time, it also allows the damage to be seen while it’s still "fresh". This ensures the agent gets an accurate accounting of the damage.

Know What Your Policies Cover

It’s important to know what types of damage your homeowner’s policy covers. Even if the damage is something that is not covered by your policy, it’s important to let your insurance company know about it. If you would make the repairs and it would increase the value of your home, the insurance company needs to know so they can reflect that change in your policy.

At Pizano Insurance, you can get the answers you need about how to handle a claim if your home has been damaged in any way. If you live in the Wayzata, MN area, call and speak to one of their licensed agents today. They can perform an audit on your existing homeowner’s policy and answer any questions you may have. Peace of mind is valuable and they can make sure you have it!

Tips to Help You Get a Home Insurance Cover

Acquiring home insurance is a necessity for it covers you in cases of unexpected predicaments either natural or artificial. Also, homeowners’ requirements change over the years, and this highly depends on their new locations and what they prize as insurable. It’s in their best interests in preparation for potential occurrences that they require an insurance cover. The priority is to search for a reputable insurance company, and Pizano Insurance serving Wayzata, MN provides the necessary assistance for this need. Here are tips on getting a reliable home insurance policy.

Know what to cover

You should be precise on the items that you want to be insured. These are contents that are within and outside the home. The cover should include roof damages, broken doors/windows, and breakdowns of air-conditioners and boilers. Note that under the Minnesota Department of Commerce laws, it’s the duty of a public adjuster, not the building contractor, to settle a claim for damages on repairs covered in an insurance contract.

Physical location

The premium rates that you pay are significantly affected by the location of your residence. Living in secluded areas doesn’t necessarily reduce the insurance rates if difficulty in accessing your home slows the response of emergency teams. Ensure from your insurance company on the policy of canceled or false alarm calls to fire departments for there are charges on this.    

Mortgage requisite 

Banks demand a letter of indemnity from your insurance company in all mortgages. The purpose of the letter is to describe what it’s covering in your property. This is usually as a summary in every buying of a home. 

So if you think of buying, rent or you own a home, contact Pizano Insurance, serving Wayzata, MN for a suitable home insurance. They understand the homeowners’ needs and value their homes.

 

Is It Difficult to Get Home Insurance?

For a lot of people, the first thing they do when shopping for a home is to look into home insurance. Knowing what kind of insurance you can get and what it is going to cost you will play an important role in how much you can afford to spend on the actual mortgage payment itself. If you have never shopped for a home before, then you’ve probably never looked into getting home insurance. Fortunately, getting home insurance in Wayzata, MN is a lot easier than a lot of people think. Here at Pizano Insurance, we have put together a go-to guide for getting home insurance. 

Speak With a Qualified Insurance Agent

The easiest way to get a home policy is to speak with a qualified insurance agent who has much experience in customizing policies to meet the exact needs of the homeowners. No two homes are exactly the same and neither are the homeowners, so customizing the policy is extremely important in ensuring you get a policy that meets all of your needs. 

Shop for Policies

Buying home insurance isn’t something you want to take lightly. You want to make sure you are doing all that you can to get a policy that not only meets your needs but is affordable as well. To do this, you will need to compare policies and see which one is the most suitable. 

Speak With Friends and Family

Your friends and family are valuable resources for helping you find an insurance company you can trust. Use their recommendations to help you get started on finding a policy that meets all of your needs. 

Want to learn more about getting home insurance. Contact Pizano Insurance serving the Wayzata, MN area. 

Is Home Insurance Mandatory In Wayzata, MN?

The moment you buy a home in Wayzata, MN, you may be inundated with various expenses. Home insurance is certainly an expense that needs to be taken into consideration. It is only mandatory in certain situations, though it is important to have no matter what.

When It’s Mandatory

The only time that home insurance is mandatory in Wayzata, MN is if you still have a mortgage loan. Mortgage lenders require homeowners to maintain a home insurance policy in order to provide financial protection over the investment. Further, lenders may require additional coverage, such as if you are in a FEMA-identified flood zone. Pizano Insurance can help you to determine what coverage is necessary for you to have.

Why It’s Important

If you are still paying your home loan, you don’t have a choice as to whether or not to have home insurance. However, if your home is already paid for, it is not mandatory for you to have a policy. Either way, you will want to have a policy because of the financial protection that it provides.

A standard policy will provide you protection against damage, loss, as well as liability. You never know what could happen on or around your property. If someone gets hurt on your property, they could sue for injuries. If a storm hits, you could experience significant roof damage. If there is a fire, you could lose everything. If there is a break-in, significant valuables could be stolen. When any of these things happen, you can file a claim with the insurance company – if you have a policy.

At Pizano Insurance, we are dedicated to helping you understand the importance of having a home insurance policy. Specialized agents can help you to find a policy that works for you and your home in Minnesota. It will allow you to have the coverage knowing that if something happens, you can file a claim.

 

If Someone Gets Hurt on My Property Am I Liable?

As a property owner in Albertville, MN, you have a responsibility to maintain a safe environment so that people who come on the property don’t suffer any type of injury. This responsibility has an official name – premises liability. This essentially means that residents of a property or property owners are liable for any accident or injury that occurs on their property.

This is why it is so important for you to purchase a property insurance policy from Pizano Insurance, to protect yourself.

How is Liability Determined

It is important to understand that liability will also be dependent on several factors. Some of the factors that determine liability include:

  • The visitor’s legal status (i.e. an invitee, social guest, licensee, trespasser, etc.)

  • The property’s condition and the actions of the visitor and the owner

  • If the person who suffered the injury was a child or trespasser

  • If the owner or the visitor had any fault in the action that resulted in the injury

  • The special rules that apply to landlords

What to Do to Prevent Accidents on Your Property

To help reduce the risk of an accident occurring on your property, you need to take steps to ensure everything is in good repair. The fact is, if someone trips, slips, falls or is injured in some other way, you are legally responsible. If you have the proper insurance policy in place, then you don’t have to worry about paying for the injuries or damages that occur out of your own pocket.

Learn more about insurance for your property and to protect yourself and your assets in Albertville, MN by contacting the helpful staff at Pizano Insurance. 

 

The Importance of Reassessing Your Home Insurance Needs

When it comes to taking care of your home, one of the first things you will want to do is make sure you have insurance coverage on it. And not only will you need to invest in insurance, but you will want to review your policy every now and again to make sure it is still meeting your needs. Let’s take a closer look at the importance of reassessing your home insurance needs and making appropriate changes to your policy when necessary. 

Living in Wayzata, MN

Owning a home in Wayzata, MN is most certainly something to be proud of. This part of the state features breathtaking scenery and lots of fun activities for the family to enjoy. And while it does tend to stay cold up near Wayzata for many months throughout the year, it actually provides residents with a few months as well. In fact, it is not uncommon for some homeowners in Wayzata to have swimming pools in their backyards. Adding a swimming pool to your property is a great example of why you need to reassess your home insurance needs every so often. 

When you add a swimming to your property, this boosts the overall value of your home; this is why you need to let your insurance company know that you are in need of additional coverage. Also, swimming pools come with certain risks. Your insurance policy will need to make sure you are protected against these risks, so reassessing it will help ensure you have the right coverage. 

To learn more about home insurance in Wayzata, please contact the Pizano Insurance company today. We can even help you with your auto insurance too.