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.

 

What to Look for in Auto Insurance?

Car insurance shopping is easier than ever before, yet many people don’t understand what to look for when choosing a policy. Car insurance is not one size fits all and  it is important to shop around to ensure you pick a policy that can meet your driving needs and as well as your budget, all the while keeping you fully protected. Here at Pizano Insurance serving Wayzata, MN, we want to make sure everyone is safe on the road and we took the time to put together a helpful go-to guide outlining some of the things you should keep in mind when shopping for auto insurance.

Everything You Need to Look for in Auto Insurance

First, you need to know your state’s car insurance minimum requirements. While you may be tempted to take on the minimum coverage to a few dollars, it may not be to your benefit if you’re involved in an accident and find yourself stuck with the responsibility of paying for injuries and damages. 

You’ll also need to take into account how much coverage you really need. Here are a few things to consider when determining the best type of policy to purchase:

1. Where you drive, how much, and how far.

2. Whether you own or finance your car.

3. Whether you drive for personal reasons or business, or both.

4. Who do you allow to drive your car; just yourself or other people, such as family members.

It’s also helpful to get a better understanding of insurance lingo so you know what your policy provides you with. Speaking with an insurance agent is the best way to get a good understanding of exactly everything your policy provides. He or she can also explain any discounts you qualify for.

Contact Us Today

To learn more about auto insurance, contact Pizano Insurance serving the Wayzata, MN area. 

Why Must All Helmets Be DOT Approved To Be Legal?

Almost every state in the country has some form of helmet law. In Wayzata, MN, a partial helmet law is in place that requires riders under the age of 16 and those with only their permit to wear a DOT approved helmet while on the road. The agents at Pizano Insurance are well-versed in the helmet laws for the state and can answer any questions you may have concerning your insurance or the use of your helmet.

DOT Approved

All helmets must be DOT approved in order to be legal on America’s highways. The Department of Transportation has developed strict guidelines that each helmet must meet in both their construction and durability. Helmets are repeatedly tested to ensure they can withstand hard impacts, skidding, and other events that could take the life of the motorcyclist. Once the helmet has passed these rigorous tests, a DOT Approved sticker will be placed on the back.

Maintaining A Strict Standard

The DOT’s testing requirements were put in place to help maintain a strict standard. Not all helmets are manufactured in the same way or made with the highest quality materials. This is why all helmets are tested and approved to ensure their durability and construction meet or exceeds these strict standards.

When you have questions about a helmet or the helmet law in the state of Minnesota call the agents of Pizano Insurance. They serve residents throughout the Wayzata, MN area and beyond. Schedule your appointment today to make sure that you have the right insurance for your needs. If you need help finding a new helmet or have questions about replacing your old one, they can help you find the answers you need!

The Basics of Personal Umbrella Insurance Coverage

Umbrella insurance offers additional protection on top of your regular homeowner’s or auto insurance plan. Ideal if you’re at an above average risk for lawsuits or high medical costs, an umbrella policy helps you pay less or nothing if you’re involved in an extremely expensive accident.

Learn more about how an umbrella insurance policy benefits you and your family by contacting Pizano Insurance, a reputable business that assists Wayzata, MN and surrounding areas.

Umbrella Insurance Coverage

Umbrella coverage pays if you’re found liable for damages or have to pay for legal defense for a lawsuit—even if you’re not at fault. Once your basic liability coverage is exhausted, the umbrella policy pays the rest up to the limit of your coverage.

Importance of Umbrella Insurance

If you’re sued, your house, car, bank accounts, and future income may be at risk to pay the costs. Protect your most important assets with additional coverage to avoid financial ruin.

How to Choose Coverage Limits

Consider your risks as a renter or a homeowner. If you own a pool or trampoline and your kids’ friends are injured during a birthday party or other event, you could be sued for their medical expenses.

Also, consider the worth of your assets. The greater your assets, the higher your coverage limits should be in order to protect everything you’ve worked to accumulate.

Your future income needs to come into consideration, too. Even if you don’t have many assets, your future earnings are at risk, so your limits should be high enough to prevent having to give away your earnings for months or years.

If you live near the Wayzata, MN area, find out exactly how an umbrella insurance policy reduces your personal liability by getting in touch with a professional from Pizano Insurance who can go into detail about the specific coverage requirements that you need.

Updates on the Boat Insurance Proposal & the Loophole

In the state of Minnesota, boat insurance doesn’t cover every occupant in a boat. As a matter of fact, it doesn’t even cover the spouse and children of the insurance policyholder. This has been the regulation for a long time; however, many legislators and advocates are now proposing the exclusion of this loophole. 

A report was previously made at www.minnesotanewsnetwork.com/advocates-want-plug-loophole-states-boat-insurance-law/ concerning this situation.  Last fall, a resident of Twin Cities has unfortunately gotten her foot severed on her family’s boat. In checking her husband’s boat insurance, she discovered that the boat insurance doesn’t cover her. One can only imagine the dismay, distraught, and financial peril this situation has caused in this family.  It’s also shocking how every family member could be covered in auto insurance but not boat insurance. was situation.

As a result, this lady is fighting the good fight along with advocates to change this boat insurance regulation. Even a report was made at www.fox9.com/news/new-bill-would-close-boating-insurance-loophole about this as well. Proposed bills have been made to address this issue among Minnesota’s Senate and House. So far, they’ve found out about the Watercraft Medical Payments Coverage, but even that has its limitations. Additionally, when the Insurance Federation of Minnesota was contacted concerning this type of coverage and its limitations, they responded by saying that they should contact their insurance agents. 

With this huge issue with boat insurance, it’s very important to contact reliable, dedicated, and experienced insurance agents, and that is where the Pizano Insurance Company comes into play.  Located in Wayzata, MN, this insurance company is ready to handle your boat and other insurance needs. With them, you will have peace of mind knowing that you and your loved ones are highly protected. Pizano Insurance of Wayzata, MN goes that extra mile and is always glad to assist their clients. They will do the same for you. So contact them now!

3 Things You Should Know About Commercial Insurance Coverage In Minnesota

You think that you are covered for everything that can go wrong with your Wayzata, MN business because you have a little thing called liability insurance. Did you know, though, that commercial general liability (CGL) assurance is not your fix-all remedy in the business indemnity world? Here are three things you should know about commercial insurance coverage in Minnesota. An agent at Pizano Insurance can further help you make sense of the maze that is business insurance. 

1. There are three types of legal damages covered by CGL

The average general liability plan pays for compensatory, general, and punitive damages. Compensatory liabilities are those that lead to financial losses for the victim. Business owners may also need to pay for future losses in income if found liable for compensatory damages. On the other hand, general liabilities are those that typically have to do with physical pain and suffering or mental anguish. Punitive damages are classified as other expenses incurred by the victim that the guilty party must pay. 

2. Standard liability does not pay for everything

The business owner is fully responsible for costs related to sexual harassment, wrongful termination, and discrimination of persons who fall under classified categories. General liability coverage does not pay in instances where the business owner is found guilty of failing to promote a woman solely because of her gender. You, as the business owner, would have to pay for damages imposed on the victim out-of-pocket. 

3. There are other types of liability insurance

Business owners with large assets may consider investing in an additional umbrella policy that covers up to $5 million worth of lost or damaged items. It may also be ideal for companies in Wayzata, MN to invest in crime insurance, which pays for damages in the instance of a burglary. 

Whether you are searching for a basic business insurance policy or need a lot of coverage, Pizano Insurance is the right firm to choose. Call one of our friendly agents today to start your quote!

Avoiding Issues With Umbrella Insurance

If you live in Albertville, MN and are considering umbrella insurance policies, it is important to talk to us at Pizano Insurance. We can provide you with a better understanding of the issues that can occur when you get these policies and how you can avoid them.

Coverage That Doesn’t Meet Your Needs

People who purchase umbrella insurance policies often try to save money by getting the cheapest possible policy. That is always a mistake because it can cause your coverage to lapse if incidents occur. For example, your policy may stall out on the liability of a car accident if you have your limit set too low. Don’t be afraid to spend a little bit of money with umbrella insurance to ensure you get the coverage you need. Cheap policies often have loopholes that can catch you and deny your coverage.

Policies That Cost Too Much

Some people may, conversely, go overboard and spend too much on their umbrella insurance policy. Remember that these policies are a type of extra liability coverage. They only go into effect if you cause an accident or harm to somebody else. When that happens, they help pay for medical expenses, repairs, and even lawsuits. If your liability coverage from your primary insurance is high enough for your needs, don’t spend too much on umbrella insurance.

Broad Coverage Types You Don’t Need

Umbrella insurance is designed to be broad but too many people get policies that are excessively broad. For example, you may purchase a policy that has liability coverage for a pool without owning a pool. Try to itemize your specific coverage to avoid paying too much for a policy that you don’t need.

Get The Help You Need

If you are struggling to find high-quality umbrella insurance in Albertville, MN, then please don’t hesitate to contact us at Pizano Insurance. We will sort through your options and find a type that works the best for your specific needs.

Lawful, Safe, Insured

Three Characteristics of a Smart Motorcyclist

Motorcyclists are an eclectic group. Some ride the latest Harley while others love their rebuilt Indian from their younger days. The characteristics that bring them together are a commitment to safety on the road, legal use of eye wear and helmets, and reliable insurance that will back them up after an accident. This is why we are proud to provide policies for motorcyclists through Pizano Insurance serving the Albertville, MN area. Our agents are ready to work with you to find the policy that suits your needs today.

Safe On The Road

Being safe on the road, for a motorcyclist, means knowing that the drivers around you may not be aware of your presence nearby. Be aware of the behavior of other traffic around you and obey the laws of the road. Your quick reaction to the unpredictable behavior patterns of drivers around you will protect you and minimize danger.  

Legal Use Of Eyewear and Helmets

In Indiana motorcyclists are required by law to use helmets and protective eyewear if they are aged 18 or younger. After a motorcyclist turns 19, the decision is up to them. Many bikers routinely maintain these safety precautions. We enjoy seeing bikers around the Albertville, MN area practicing safety. 

Reliable Insurance

Pizano Insurance believes that motorcyclists need a fair deal when purchasing insurance coverage. Their needs are unique and they want the best coverage and rates available. That’s why we recommend you drop in for a visit or call us today; we can put the best insurance policies right in front of you immediately. So check us out, and have the peace of mind that lets you focus on those road trips you’ve got planned. 

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. 

 

Why Every Landlord Needs Umbrella Insurance for Their Rentals

 So, you own a residential property that you rent out to others? Whether it is a full home, single apartment or room, congratulations are in order. Real estate management is one of the best ways to attain wealth.

Now your task is to retain the standard of living you have acquired. Never make the mistake of assuming that your standard home insurance policy is always enough to protect your investment in times of need. When an accident, lawsuit or other calamity strikes, you will need way more financial resources.

Umbrella Insurance

Assuming that standard home insurance coverage will save you in times of need can prove a costly mistake. The costs of litigation, medical bills and home renovations are rising exponentially. In Albertville, MN there have been owners who have lost their properties totally after an unforeseen accident. Do not let this happen to you.

All you have to do is speak with the trusted agents at Pizano Insurance for professional advice about umbrella insurance to cover your rental property.

Umbrella insurance is a policy that extends your current coverage for miscellaneous events. Think of it as your safety net.

The Problem

Unfortunately, the internet has provided renters with lots of misinformation about their so-called rights. Landlords find themselves under siege. Lawsuits are filed daily, often for trivial reasons. Some unfortunate landlords have to settle out of court just to save money. Others cannot afford to litigate and have to go bankrupt. They lose their rental properties. Umbrella coverage could have saved them.

Likewise, when disaster strikes, such as a flood or fire, you do not want to count on your standard insurance to take care of the bills. Displaced tenants may need somewhere to stay in the interim while you repair the facility. Guess what? You might have to pay for them. The amount can be staggering. Fortunately, with umbrella insurance, you will be better able to take care of these expenses.

Get More Information Today

All you have to do now is contact the helpful agents at Pizano Insurance to find out more about umbrella policies. These professionals want to help you be the best Albertville, MN landlord possible.