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724 Bielenberg Drive, Ste 5
Woodbury, MN 55125

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Minnesota Insurance Blog

Do I need umbrella insurance? My business is primarily online.

Umbrella insurance can be beneficial if your primary insurance policy has limits that could be maximized or exceeded by an unexpected situation or circumstance. In essence, umbrella insurance is the backup insurance that kicks in after your primary policy has reached its limits, or when your primary policy doesn’t cover something.

Our Woodbury, MN team at Kriener Insurance understands the benefits that umbrella insurance can provide and is committed to helping business owners get the extra coverage they need. 

Does Umbrella Insurance provide Cyber Coverage?

As with any insurance company, you need to talk to an insurance agent to determine exactly what an umbrella insurance policy would cover in terms of cyber benefits and protection. However, an umbrella insurance policy can provide cyber coverage in the form of cyber liability insurance.

There may be other forms of cyber coverage as well. However, you need to speak with an agent to determine exactly what’s covered. Under an umbrella insurance policy, Cyber liability insurance typically provides coverage for various cybercrimes as well as data breaches.

This coverage may also extend to first-party financial loss as well as third-party financial loss. 

Do I need Umbrella Insurance? My business is primarily online.

Even if your business is conducted primarily online, you still have assets to protect and security hazards that you need protection from.

Now, more than ever, cyber crimes are rampant and may be more prevalent than real-world crimes, or at least just as prevalent. As a result, investing in protection for your online business may be a good idea.

Give Us A Call

Speak with a team member at Kriener Insurance. We’d be happy to discuss the benefits that umbrella insurance can provide for your specific needs in Woodbury, MN. 

What is Universal Life Insurance?

There are two basic types of life insurance: permanent and term. Permanent life insurance is a type of policy that does not have a specific period of coverage. It is meant to offer a payout for the entirety of your life as long as your account is in good standing. As a result, it typically has higher premiums than term. Universal life insurance is a category of permanent life insurance.  

Universal Life Insurance: What You Need to Know

Death benefit amounts can be flexible within this policy, unlike other life insurance products. Your monthly amount due will increase or decrease, depending on the adjustment you make to the death benefit. 

There is also a component known as cash value that allows you to withdraw money paid into your account. This is a loan that must be paid back, and if unpaid at the time of your death, it will be subtracted from the death benefit. 

Another feature of universal life is that premiums can sometimes be adjusted, too, if there is sufficient cash value in your policy. You may be able to defer payments or lower them if needed. Life insurance is not a legal requirement for Woodbury, MN residents, but many choose to invest in this instrument as part of their financial portfolio. You can ask your Kriener Insurance representative for specifics on the coverage included. 

Death benefits are not the same as cash value, and you may be able to recover your cash value in the event that you cancel your policy. In addition, the cash value will tend to accumulate on a tax-deferred basis. 

Kriener Insurance is Here to Help

Residents of Woodbury, MN can depend on us to put together insurance packages to suit their needs. Call us, reach out online, or stop by our office to find out more information today. 

Don’t Drive Without Insurance – It’s Against the Law!

If you live in the Woodbury, MN area and are a licensed driver, make sure you have car insurance. Kriener Insurance can provide the coverage you need to make sure you are in compliance with the law.

Why Auto Insurance?

There are only two states in the country that do not require drivers to be insured. If you live in Virginia or New Hampshire, car insurance is not required. But residents in the other 48 states are by law required to have it.

If you are at fault in a car accident, you will be held responsible for any resulting expenses. These expenses could be legal fees, the injured party’s medical costs, or lost income if they are unable to work. If you are driving without car insurance, the financial consequences can be disastrous.

Uninsured motorist coverage is also required in many states. This pays for medical expenses for you and any passengers you have if you are hit by a driver that does not have enough car insurance or none at all. This does not cover other drivers.

States that have a no-fault car insurance system in place require drivers to have PIP (personal injury protection). This pays your medical bills no matter who is at fault.

There are three types of automobile coverage:

  • Liability coverage protects you if you are at fault in an accident. It pays for another individual’s costs to repair their vehicle and their medical expenses resulting from the accident. Most states have legal minimum requirements regarding how much liability coverage is needed. It is wise to purchase more than is needed to lower your chance of out-of-pocket costs later.
  • Collision coverage protects you if you hit another car or non-moving object. It will help cover the costs of repairing your car regardless of fault.
  • Comprehensive coverage protects your vehicle from vandalism, theft, fire, weather events, etc.  This coverage is usually sold along with collision coverage.

Contact Us Today

If you live in or near the Woodbury, MN area, contact Kriener Insurance for a quote or an answer to any questions you may have. You will be glad you did.

Is it time to upgrade the commercial policy protecting your Woodbury area business?

Kriener Insurance is the commercial insurance partner business owners in the Woodbury, MN area can rely on. If it’s been a while since you have taken a close look at your company’s commercial policy, now is a great time to do so. Contact our team with any questions that you may have!

Signs it may be time to upgrade your commercial policy

If you have been in business for a while, your company has likely gone through a number of changes over the years. These changes can have an effect on your bottom line as well as your insurance needs. These signs below are just a few of the many indicators that it’s time to upgrade your firm’s commercial policy. Now is a great time to fully review your insurance needs!

  1. You have made a large purchase, such as heavy equipment or machinery. Equipment replacement costs can add up quickly! Be sure your policy provides an adequate level of coverage.
  2. The company is now carrying a larger amount of inventory. If you have more inventory on hand, you also have a higher level of exposure that needs to be protected.
  3. The firm’s liability needs have increased due to higher revenues and a larger number of employees. As a firm grows, its need for liability protection often increases as well. If your needs exceed your current policy, an umbrella insurance policy is often an effective solution.

We look forward to working with you!

Business owners in the Woodbury, MN area can turn to the team at Kriener Insurance for all of their commercial insurance needs. If it’s time to upgrade your commercial policy, we are here to help. Give our office a call today and schedule a consultation.

5 Questions To Ask Your Home Insurance Agent

Home insurance is a must for anyone who owns the property. If you’re like most people, you probably don’t give your home insurance policy much thought until you need to use it. That’s why it’s important to review your policy regularly and ensure you’re getting the coverage you need. Consult with Kriener Insurance in Woodbury, MN for expert insurance advice.

Here are five questions to ask your home insurance agent at your next policy review:

1. What Coverages Does My Policy Include? 

The first step in ensuring you have adequate coverage is understanding what coverages are included in your policy. Your home insurance agent should be able to go over each coverage with you in detail so that you understand what’s covered and what’s not. If there’s something you’re not clear on, don’t be afraid to ask for clarification. 

2. Do I Need Any Additional Coverages? 

Once you know what coverages are included in your policy, your agent can help you determine if you need any additional coverage. For example, if you have a high-value item like jewelry or art, you may want to purchase a rider to make sure it’s properly protected. 

3. What Discounts Am I Eligible For? 

There are several discounts available that could help lower your premium, so be sure to ask about any that apply to you. Some common discounts include bundling your home and auto insurance policies and installing security features like smoke detectors and burglar alarms. 

4. How Much Coverage Do I Need? 

Once you know what type of events your policy should cover, you need to make sure it covers enough. Start by getting a home inventory to get an idea of the value of your belongings. Then, talk to your agent about how much it would cost to repair or replace your home if it was damaged or destroyed by a covered event.  

5. What Would Happen If I Needed to File a Claim? 

No one likes thinking about having to file an insurance claim, but it’s important to know how the claims process works in case something does happen. Ask your agent about the steps involved in filing a claim and what documentation you’ll need to provide. Knowing what to expect ahead of time can help make the process as smooth as possible if something does happen.

Get Home Insurance Today

If you’re a homeowner, it’s important to review your home insurance policy regularly to ensure you have the coverage you need. Asking your home insurance agent the right questions can help ensure that you’re getting the best possible rate. Kriener Insurance in Woodbury, MN can help you review your home insurance policy and ensure you’re getting the coverage you need. Contact us today to get started.

5 Things You Need to Know About Renters Insurance

As a renter, you may not think that you need insurance. After all, your landlord’s insurance should cover any damage to the property, right? Wrong. Renters insurance is a vital form of protection for anyone who is currently renting. Consult with us at Kriener Insurance in Woodbury, MN to learn more about your options.

Here are five things you need to know about this form of insurance:

1. It’s Not as Expensive as You Might Think

One of the biggest myths about renters insurance is that it’s expensive. The truth is, it’s actually quite affordable, and when compared to the cost of replacing your belongings, it’s a bargain.

2. It Covers More Than Just Your Belongings

While most people think of renters insurance as protection for their belongings, it does much more than that. Renters insurance also provides liability coverage if someone is injured while on your property. This is important because it can help protect you from being sued.

3. It’s Not Just for Those Who Own Valuables

Another common misconception about renters insurance is that it’s only for those who own expensive items. This simply isn’t true. Even if you don’t have any expensive belongings, it’s still a good idea to have this type of insurance.

4. You May Need Extra Coverage for High-Value Items

If you own any expensive items, such as jewelry, you may need to purchase additional coverage to be fully protected. Most renters insurance policies limit the amount they will pay for certain items, so it’s important to check with your agent to ensure all of your belongings are covered.

5. It’s Worth the Peace of Mind

At the end of the day, renters insurance is worth it for the peace of mind it provides. Knowing that your belongings are protected can give you a sense of security and help you sleep better at night.

Give Us A Call

Now that you know more about renters insurance, it’s time to get protected. Contact us at Kriener Insurance in Woodbury, MN for all your insurance needs. We’ll work with you to find the right policy for your situation and help you get the coverage you need at a price you can afford. Give us a call today to get started.

Understanding Umbrella Insurance

When you have home and auto insurance policies, you have some protection, but you might not have as much as you thought. Many home and auto policies are lacking in one key area of coverage, and that can leave people vulnerable to lawsuits and overages when the coverage isn’t enough. Getting umbrella insurance is a great way to get more coverage without a major cost increase.

If you are interested in umbrella insurance, give us a call today at Kriener Insurance in Woodbury, MN.

Get More Liability Coverage

Your home and auto policies each have some coverage for liability, which pays for medical bills and certain other expenses when an accident happens. This is an accident in your home with home insurance and an auto accident that you cause for your auto insurance. The problem is that these policies often come with very little liability coverage when you consider the high cost of medical bills, lost wages, etc.

Umbrella insurance is a way to add more liability coverage to both of these policies at the same time. And, it costs much less to get umbrella insurance than it does to add more liability coverage onto your home and auto policies. 

How It Works After an Accident

When there is an accident that you caused with a vehicle or that happens to a third party in your home, your auto or home insurance weighs in first. It pays what it can toward the medical bills and other costs until it reaches its maximum. After this, when there is an overage left to pay, your umbrella insurance comes in to pay that overage. This can save you thousands on medical bills after your home or auto coverage has maxed out. 

Get Your Umbrella Policy

To get started with an umbrella insurance policy, call us at Kriener Insurance in Woodbury, MN. 

How to Choose the Right Life Insurance Coverage

Choosing the right life insurance coverage is integral to protecting your family and their future. If you should pass away, you want to be sure you have a policy that will give them what they need. That could mean updating your policy or changing it from time to time, but the main area of focus is understanding how to choose the right policy. If you’re in the Woodbury, MN area, Kriener Insurance can help.

When you start looking for a policy, there are two things to consider. The first is what you want to leave to your family and how much help and support they may need if you’re not around. The second is whether you want a term life or whole life policy because they can vary in what they provide and the level of coverage that may be easily obtained. The more you know about the differences, the easier your choice will be. Working with a trusted insurance agent is the best way to make that choice.

Asking questions about the right insurance for your needs is important. Agents who typically work with life insurance can answer those questions for you. That allows you to make an informed choice, which means more security for your family, and fewer worries about how they would keep important assets if you were to pass away. While not everyone has a life policy, it’s a convenient way to leave something behind for the people you care about.

Contact us today at Kriener Insurance if you’re in the Woodbury, MN area and need a good life insurance policy. Our knowledgeable agents can help you find the right coverage for your needs. That can help you protect your family and increase your peace of mind.

Common Auto Insurance Exclusions

Every motorist understands that a car insurance policy protects their vehicle when accidents happen. However, most don’t understand that car insurance has exclusions. We understand because what is covered is usually in bold, but exclusions are found in fine print and often in jargon difficult for a layperson to understand.

If you don’t understand your policy document, consult with Kriener Insurance in Woodbury, MN. In most cases, your car insurance may not cover the below:

Personal items

If your laptop is lost or damaged while inside your car, it will be wrong to assume that your car insurance will cover the loss. You have to claim using your home or renters insurance for lost or damaged personal items.

Commercial use

You started a small business, and suddenly, your client base is expanding. You use your car to run business operations since you don’t have the capital to buy a business vehicle. While there is nothing wrong with this, all you need to do is upgrade your personal auto insurance to commercial. Otherwise, you will be walking a tightrope if you are still using personal auto insurance to run business errands.

Normal wear and tear

Like most things, your car will wear down over the years due to use. When your paint starts chipping away, or your suspension starts caving in, don’t expect your insurer to cover the damage. Your insurer expects you to take proper care of your car to derail wear and tear.

Accidents outside the geographical area of operation

Most car insurance policies will cover you within the borders of America. If you travel abroad, always purchase an add-on because your standard auto insurance won’t cover damage and injuries outside American borders.

Want to learn more about car insurance? Please get in touch with Kriener Insurance for more information. We will also help you get an affordable car insurance policy.

What commercial insurance is required in Minnesota

Business owners in Minnesota have certain requirements when it comes to commercial insurance. It doesn’t matter whether you are a small business owner or a large business owner; when it comes to commercial insurance you are all businesses. At Kriener Insurance in Woodbury, MN, we know just how risky it is to own a business and how many businesses fail. We work with our customers to make sure they have the right commercial insurance so that they can survive no matter what hazard hits them.

Commercial Insurance Requirements

In Minnesota, the only mandated commercial insurance is workers’ compensation. If your business has any employees, they need to be covered by workers comp either through an insurance policy or through self-insurance. This protects your employees but it also protects you from being sued by an injured employee. 

Businesses are required just as any vehicle owner is in the state of Minnesota to have the mandated amount of auto insurance. 

There are other types of commercial insurance that are not required but are a very good idea for any business to have. Commercial liability and property insurance are both very helpful in the event your business runs into any covered issues. 

Commercial property insurance will protect the business building if you own it but it also protects the content of the building, which may include things like machinery, office equipment, electronics, raw materials, tools, inventory, and display units. Basically, the things you use to run your business. 

Commercial liability insurance will help protect your business from the results of legal action against you. You may not want to think about it, but up to 35% of businesses get sued in any given year, which means the risk to you is real. 

Contact Kriener Insurance in Woodbury, MN when you have questions or are in the market for new commercial insurance. 

Partner Carriers

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