Understanding Umbrella Insurance

Posted on July 28, 2021August 1, 2021 by admin

Investments come in many packages. Your home, bank accounts, and business ventures are all considered investments. As such, they each need protection so that they can best serve you in the future. At Kriener Insurance, serving Woodbury, MN, we can help you better understand how to protect all of your investments with umbrella insurance.

What Is Umbrella Insurance?

Umbrella insurance is a unique insurance product which can bring added protection and security to your investments. If you already have home, vehicle, life, or commercial insurance in place, umbrella insurance can be an add-on policy for catastrophic events.

Each type of insurance product will have limits to the coverage the policy will payout. If an event takes place that exhausts these policies’ limits, your assets could be left vulnerable to make up the difference. Umbrella insurance can kick in to provide additional coverage and payouts.

Who Needs Umbrella Insurance?

Anyone can benefit from umbrella insurance, but it is often most beneficial for those who have significant assets they wish to protect. This can include retirement accounts, investment accounts, properties, and more. If your current policies are exhausted after a claim, those assets can be held liable by law to satisfy the expenses. Umbrella insurance will provide that needed extra layer of protection to make sure this doesn’t happen.

How Much Coverage Do I Need?

Each individual will have a unique situation which will require evaluation. Sitting down with an insurance representative is a great way to better understand your insurance needs and to figure out how much coverage you will need.

If you would like to learn more about insurance products and services, please contact us at Kriener Insurance, serving Woodbury, MN.

Who Needs Life Insurance in Woodbury, MN?

Posted on June 24, 2021June 24, 2021 by admin

According to the Insurance Barometer 2020 Report, approximately 41 million Americans said they need life insurance, but they don’t have it. Part of the failure to invest in life insurance is that most people assume it’s expensive. For others, they wrongly assume that they don’t need life insurance at all.

While not everyone needs life insurance, if you are in the below categories described by Kriener Insurance of Woodbury, MN, you need life insurance ASAP.

You have dependents

Of course, most people take life insurance to supplement their income when they die. If you have a spouse, aging parents, kids, or siblings that depend on your income, think about how they would survive in your absence. It would be hard, right? For this reason, invest in life insurance today to safeguard the financial future of your loved ones.

You are planning to get a baby

If you are expecting a baby or about to adopt one, now it’s time to buy life insurance. Since your health declines with age, waiting to buy life insurance until your kid attends school will be expensive. Instead, purchase life insurance today – it will be cheaper, and it will step in to cover child care expenses if you die unexpectedly.

You have debts

When looking for a life insurance plan, financial experts advise you consider your total debts so that your beneficiaries can pay off your debts in full. Without life insurance, you are likely to burden your loved ones and cosigners with debts like mortgages, student loans, and credit cards.

You have a business

If you would like your business to succeed even when you pass on, invest in life insurance. This coverage ensures your employees and other stakeholders are paid in your absence. Besides, life insurance can help finance any outstanding business loans.

Buy life insurance today!

Now that you have seen life insurance benefits, it’s time to invest in a plan. If you are in Woodbury, MN, and its environs, please contact Kriener Insurance for an affordable quote.

4 Popular Myths About Auto Insurance

Posted on May 28, 2021May 30, 2021 by admin

The auto insurance industry is large and can be difficult and complex to understand. With all the information going around, it becomes challenging to differentiate between facts and myths. Getting yourself and other users protected when you are behind the wheel is one of the best things to do. However, these myths have bound and left people misinformed about auto insurance coverages.

Like other myths, car insurance myths start from the truth, and then the truth is distorted as the information circulates. To help put your mind at ease and clear the misinformation, Kriener Insurance of Woodbury, MN, is here to demystify four popular auto insurance myths.

The color of your vehicle affects the premium rates

Perhaps this is the most common myth in the auto insurance industry. The truth is the color of your car does not affect your auto insurance costs. The cost has several determining factors such as the model of the car, the make, the engine size, body type, age of the car, and driving records.

Your credit does not affect your insurance rates

Your credit history is a significant factor that determines your premium cost. Insurance companies usually look at your credit score to check how well you can manage your finances and your likelihood of filing a claim. Those with good credit history pay less since they are seen as having a lower risk.

The minimum liability coverage is adequate

Although almost all states require you to carry the minimum liability coverage, it may not be sufficient in the event of an accident. It means you will dig from your pocket if your vehicle gets damaged, or you sustain an injury in an accident.

If someone else was driving your car during the accident, their insurance would pay for damages

This is also a common myth in the auto insurance industry. It’s important to understand that that auto insurance follows the vehicle — not the driver. If you lend your car to a friend or relative, your car insurance is the one that will be at play and not theirs. Regardless of who was behind the wheel, the vehicle owner’s insurance will take the day.

Get the facts in Woodbury, MN

With all the myths going around about auto insurance, you need to get it right when buying your policy. It would help if you worked with a trusted insurance agent like Kriener Insurance. Contact us today for all your auto insurance needs.

How does commercial insurance protect a business?

Posted on April 22, 2021April 22, 2021 by admin

Business owners all over the Woodbury, MN area can continue to find that it is a good place to be their own boss and own a business. If you are going to start a business in this area of the state, you can be quite successful if you continue to be diligent and protect your business. A proper commercial insurance plan can be a great way for someone to protect their company.

Insurance Offers Liability Risk Protection

A key reason why commercial insurance can protect a business is that it can mitigate your liability risk. Business owners should be aware that they will take on the risk of a liability claim regularly. As this could hurt your company and even threaten insolvency, mitigating this risk is important. With a full commercial insurance plan, you will get the protection needed to offset this business risk.

Insurance Covers Business Assets

You can also benefit by getting a commercial insurance plan because it can help to protect business assets. Those who would like to build a business will have to invest in assets for the company. As these assets are crucial and necessary, protecting them is important. With a commercial coverage plan, you can get the protection you need to repair or even replace these assets.

When you are going to own a business in the Woodbury, MN area, it is imperative to protect your company with commercial insurance. A great company to speak with when you are assessing your insurance needs is Kriener Insurance. The insurance team with Kriener Insurance can help you better assess your business’s insurance needs. They can then offer the guidance that you need to build a commercial insurance plan that will properly protect your organization.

Preparing a home inventory and storing it safely

Posted on March 25, 2021March 25, 2021 by admin

Home is where the heart is, and it is also where you keep most of your possessions. When a covered peril hits, and chances are it will hit eventually, you will need to file a claim with your insurance carrier. It is not a particularly easy process, but it can be very manageable if you have a home inventory. It’s a matter of creating one at your leisure or being forced to create one in the most trying circumstances you can imagine. At Kriener Insurance in Woodbury, MN, we are passionate about providing our customers with the best possible experience in getting insurance products.

Deciding to create your home inventory is best done when you have the time you will need. Depending on how many rooms you have, it can be quite extensive. You can do it digitally or the old-fashioned way with a pad and pen. Whichever way you choose, you will need to go into as much detail as possible. Gather all your receipts and invoices to use as backup, especially for any of your larger, more expensive items. Use a camera to take pictures of each room from a few different angles.

Open every closet, every drawer, and every cupboard. Record the brand names, serial numbers, and model numbers, especially for electronics. Go into the attic, the basement, the shed, and the garage. When you are finished, you need to store your inventory in a safe place. You can make a digital copy and store it in the cloud, which means it will always be available to you no matter what gets damaged or destroyed. You can also choose to get a safe deposit box or at the very least a fire and water-resistant box or bag.

Contact Kriener Insurance in Woodbury, MN when you are ready to review your home insurance or are a new home buyer.

Why would I need umbrella insurance?

Posted on January 27, 2021January 27, 2021 by admin

There continue to be many different insurance coverage forms that the typical Woodbury, MN area resident will need to have. While most people here will need a home or auto policy, people should also consider their additional personal insurance needs. One type of coverage that you should consider getting is umbrella insurance. There are several reasons why you may need to get a new umbrella insurance policy.

Insurance Gives Covered for Significant Claims

A lot of people will want to get an umbrella insurance policy because it will give coverage for significant claims. If you are ever at fault for an accident, you may get coverage through your home or auto policies. However, these policies do have coverage limits. Fortunately, you can still get coverage for significant claims if you get an umbrella insurance policy on top of your existing policies.

Insurance Protects For Unforeseen Scenarios

You will also want an umbrella insurance policy as it can give coverage for situations that you cannot predict. While other policies cover some liability risks, there are always situations that can be hard to predict. When you have umbrella insurance, you will get broad coverage that can cover these unforeseen situations.

There continue to be many great reasons to invest in an umbrella policy in the Woodbury, MN area. This type of insurance offers many advantages and benefits to policyholders but can be complicated to choose from. When you are interested in getting this additional coverage, you should speak with the Kriener Insurance team. The team with Kriener Insurance understands how important this coverage is, and they can help you build a policy that will provide you with the right type of coverage.

Do I Really Need Life Insurance?

Posted on December 21, 2020December 21, 2020 by admin

You may be wondering if you really need life insurance, particularly if you don’t have dependents that rely on your income. Most people should have a life insurance policy. At Kriener Insurance in Woodbury, MN, we offer different life insurance policies designed to meet different needs. Here are a few reasons you might need life insurance.

You Have Debts

If you have debts, family members or cosigners may be responsible for them if you pass. Student loans, car liens, and other types of loans may leave your loved ones in a bind if you leave debts behind. If you don’t have the savings to cover any debts, you should have a life insurance policy that will cover them.

Medical and Burial Expenses

Do you have money set aside to pay for your burial? The average cost for funeral and burial services is $7,000-$12,000. If family members are mourning your death, you don’t want to leave them worrying about how to pay your final expenses. Medical expenses may fall on family members as well, particularly a spouse. Unexpected medical expenses can add up quickly and cause financial hardship.

You Want to Leave a Legacy

Your beneficiary can be an organization as well as loved ones. Do you have a cause that is important to you? Would you like to leave a meaningful legacy behind by making a financial contribution to an organization? Would you like to ensure that your children or grandchildren can go to college? A life insurance policy can allow you to make a meaningful contribution to the people or cause that matters most.

Life Insurance at Kriener Insurance

If you don’t have a life insurance policy in Woodbury, MN, contact us at Kriener Insurance. Our agents are happy to discuss your options and help you select the policy that meets your needs.

Three things that might improve your auto insurance coverage

Posted on November 24, 2020November 24, 2020 by admin

Auto insurance is essential for protecting you as a motorist. Are you on the market for auto insurance in Woodbury, MN? We are a provider of auto insurance at Kriener Insurance.

It’s important to get as much as you can out of your auto insurance policy. The following are three things that might improve your auto insurance coverage.

Change providers

If you are disappointed with your current coverage, you might be able to enjoy better coverage by changing your provider. Changing your provider could mean you will enjoy better quality coverage at a lower price.

You can explore your coverage options using the Internet. Get quotes on various policies by using comparison sites. Figure out what types of coverage you want and need. Then, do your research to find providers who will offer you improved coverage over what you’ve gotten previously.

Explore features and coverage options

You might be disappointed with your coverage because you aren’t aware of all the coverage types available to you.

Make sure you know what liability, collision, and comprehensive coverage are. Also, explore options like roadside assistance, rental car coverage, premium discounts, and more.

Raise your limits

The higher your policy maximum coverage limits are, the better your auto insurance is. Invest in higher coverage limits to improve your coverage.

When your policy offers more coverage, you are more financially protected if you are involved in an accident and have to file a claim.

Get the best auto insurance policy in Woodbury, MN. If you’d like to learn more about auto insurance coverage, contact us at Kriener Insurance. We can help you to meet your insurance needs.

Understanding commercial insurance

Posted on October 29, 2020October 29, 2020 by admin

If your business is operating without commercial insurance, chances are you don’t understand commercial insurance and the safety net it provides for your business. Owning a business can be risky for many reasons, but with commercial insurance, you can mitigate many of the risks. If you want to find out more about the benefits of commercial insurance, the knowledgeable staff at Kriener Insurance in Woodbury, MN is there to answer any questions you may have.

Commercial property insurance

You do everything you can to protect your business, but you can’t control some of the hazards that affect your business. Commercial property insurance helps you to survive natural disasters, fires, theft, and vandalism. If you own the building, it will cover that, but it covers your inventory, office equipment, raw materials, machines, and records even if you don’t.

Commercial liability insurance

Any business is vulnerable to legal action against them. Both judgments and legal expenses can be high. Liability insurance helps you to survive being sued.

Commercial auto insurance

If your business owns a vehicle, it should be covered by commercial auto insurance. Personal auto insurance may not cover the business use of your vehicle and leave you uninsured.

Business interruption insurance

When disaster strikes, you may not be able to continue in business. Your expenses, however, will continue, and with business interruption insurance, you will receive the money it needs to continue to pay bills and salaries until everything is restored.

Workers compensation

In Minnesota, every employer, no matter how many employees they have, is required to have workers compensation insurance or prove that they have the financial ability to self insure.

Now that you know what commercial insurance has to offer, it’s time to talk to Kriener Insurance in Woodbury, MN to discuss how your business could benefit from commercial insurance. Give us a call or stop at our office to get your no-obligation quote.

6 Key Home Insurance Terms Explained

Posted on September 18, 2020September 18, 2020 by admin

If you are a homeowner, you have likely had the experience of purchasing homeowners insurance, but not always being clear on all the details. Some terminology may be vague or unfamiliar and may leave you feeling uncertain of what is in your policy.

At Kriener Insurance of Woodbury, MN, we take the time to listen to our customer’s needs and explain the different policy options available to them.

Understanding Homeowners Insurance

There are many different terms used in homeowner’s insurance, but there are some common ones. Some key terms you may have heard when discussing homeowners insurance are:

Liability – If someone is injured on your property, this will help protect your finances during any lawsuit.
Actual-Cash-Value – This means you are paid what your items were worth before they were destroyed instead of the replacement cost.
Full Replacement Cost – This term may come up with a comprehensive homeowner’s coverage. Items must be replaced at full replacement cost if they are destroyed or stolen.
Declarations page – These will explain your annual premium and outline your coverage.
Rider – Extra policies to cover particular personal property. Usually separate from your original policy.
Replacement cost – This is an easy term. It merely means you will get reimbursement for new items, not the original cost. It doesn’t matter the age; you will receive a new item.

An Insurance Company on Your Side

Contact Kriener Insurance of Woodbury, MN today to speak with one of our agents. We are happy to schedule an appointment to discuss various homeowner policy options and explain all the details. We have years of experience helping our customers know what kind of insurance they need and to get the best coverage possible.

Kriener Insurance

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