Several cities in Minnesota are increasingly becoming urban. This has led to residents of the greater Plymouth, MN area resort to renting or buying condominiums. They are more convenient since they are closer to the growing centers. Plus, they offer a hustle-free alternative to typical single-family homeownership. Having condo insurance with Anchor Insurance Agency LLP is the best way to protect your investment. While the condo association is responsible for the external part of your residence, condo insurance is used to protect your valuables. Some of the benefits of owning condo insurance include:

Liability coverage

If accidents happen inside your condo that are as a result of your fault, you are liable for any bodily injury or property damage costs towards a third party, and that’s where this policy bails you out. In addition, if you, your family members, or guests cause damage to the common property, then this policy will cover the cost of repairs.

Loss of use

Sometimes, a covered loss may render your condo inhabitable, thereby requiring you to relocate while repairs are done. Condo insurance will cover the additional living expenses that you may incur during this time, like the costs of renting a temporary residence.

Covers personal belongings

Your personal belongings (furniture, jewelry, fine art, appliances, electronics, etc.) face several risks such as theft, vandalism, water damage, and fire every single day. Condo insurance protects them from such risks by covering the cost of replacement.

Covers the interior         

The condo association is responsible for the external physical structure of the condo building, but as a condo owner, it’s your responsibility to protect the inside. For instance, damages caused to your drywall, fittings, fixtures, and carpets are covered by condo insurance.

At Anchor Insurance Agency LLP, we provide affordable and reliable condo insurance policies for the residents of Plymouth, MN and surrounding areas. Our agents will help you understand what coverage suits your needs. Contact us for further information.

People have life insurance for different reasons, and may even have different kinds of life insurance at different times in their lives.  There are good reasons to need different kinds of insurance in different situations, but it can get complicated. Let the professional agents at Anchor Insurance Agency LLP, in Plymouth, MN help guide you through the maze to find the policy that best fits your needs.

Term life insurance is for a set amount of time. When the policy ends you stop paying and that is the end of it. If you die during that time your family will receive the benefit.  This is good for families with children when one spouse is not working. The working spouse can have the insurance to help the family survive after you are gone. After the children are on their own, you no longer need this policy.

Whole life insurance lasts as long as you live and has some cash value at the end of the term. It is sort of an investment, but you get life insurance along with it.  There is also universal life, which is a combination of the two.  You may also borrow against the cash value of the universal policy.  One advantage too is that your rates will not go up drastically.  If you feel you will need life insurance for your entire life, this is a good option.

Stop by the Anchor Insurance Agency LLP, or give us a call, in Plymouth, MN, to find the best policy for you and for your family. If you are an existing customer we can update your policy, or if you are new, we can get you started on the program that best fits your needs and to make sure your family is protected.

Many people look for ways to save money on their insurance. Whether it be car insurance or homeowners insurance, it is of the utmost importance to save as much money as possible. Fortunately, when you combine your policies, you can generally save anywhere from 10 to 20 percent. It is also helpful when you have more than one asset covered under the same type of policy, such as two or more vehicles on your auto insurance. If you have a motorcycle and a home, you may be wondering whether or not you can insure them through the same company and receive a discount. Let’s take a quick look at the answer to this question. 

You can combine your motorcycle insurance with your homeowner’s insurance. As stated before, if you have other vehicles that you need insurance on, it is highly recommended that you combine them with your motorcycle insurance policy as well as your homeowner’s policy; you may find that you are able to save upward of $500 a year on your insurance. Adding other vehicles to your policy is quite simple. You just need to contact the insurance provider for your motorcycle insurance and ask them about adding additional vehicles. Also, you need to ask them about combining your auto policies with your homeowner’s policy. More importantly, ask them about any discounts that this will provide. 

If you would like to learn more about the benefits of combining your motorcycle insurance with your homeowner’s policy, including discount benefits, please don’t hesitate to reach out and contact Anchor Insurance Agency LLP today serving the Plymouth, MN area. 

Whether you are the landlord of one apartment or ten apartments in the Plymouth, MN area, it is critical that you require all of your tenants to maintain a renters insurance policy. However, not all insurance policies are created equal, and it is essential to look for specific coverages and limits. In addition, you want to make sure any insurance requirements are explicitly spelled out in the lease agreement.

One of the first things you want to look for when reviewing your potential tenant’s renters policy is the limits. You want to make sure the renter’s insurance limits are equal or greater than the amount of your deductible. If your liability policy has a $100,000 deductible, you will want to require the tenant to carry at least $100,000 in limits. By requesting this, you reduce the chance of there being a gap in coverage between the tenant’s policy and your own.

If you have a tenant that has dogs you want to check the policy to confirm it provides coverage in the event the dog bites a third party. Insurance claims arising from dog bites are incredibly costly. If your tenant’s insurance does not have this coverage, you may find yourself on the hook as the landlord. If you are unsure if your tenant’s policy has this coverage, please reach out to your insurance expert at Anchor Insurance Agency LLP.

Another critical coverage to look for is coverage that will assist the tenants with accommodations in the event they have to move out of the rental for repairs. This will give the tenant peace of mind while the repairs take place and give you the time needed to have the repairs completed professionally.

If you are a landlord and are interested in learning more about renters insurance, please reach out to a specialist at Anchor Insurance Agency LLP  to discuss. We proudly serve the. Plymouth, MN area.

After purchasing a motorcycle, you may equip the motorcycle with custom parts. This includes items like custom valve and stem covers, upgraded tires and rims and saddle bags or travel compartments. When you purchase motorcycle insurance, you may think that these items are covered, but are they really? Here at Anchor Insurance Agency LLP, serving the greater Plymouth, MN area, we would like to educate you the truth regarding motorcycle insurance and custom parts. 

Does Motorcycle Insurance Cover Custom Parts?

Motorcycle insurance does not cover custom parts. Most motorcycle insurance policies cover the parts that the motorcycle was manufactured with originally and that is all. They do not cover custom paint jobs, custom parts or add-on parts that you have added on your own to increase the value of the motorcycle or change its appearance.

Is There Any way to Cover Custom Insurance Parts? 

If you are looking to cover custom insurance parts, you will need to either find a policy that allows you to include these custom parts or purchase a supplemental motorcycle insurance policy specifically for the custom parts. If you purchase a supplemental policy, it is important that you list each and every part on your bike that is custom or not original to the bike. It is also important that this information is updated as you change your bike. This helps to ensure you are properly compensated in the event you have to file a claim with your motorcycle insurance company. 

If you are looking to insure a motorcycle in the greater Plymouth, MN area, contact Anchor Insurance Agency LLP. We can help you find the right insurance coverage to cover all parts of your motorcycle, including your custom parts. 

If you are in Plymouth, MN, there is a chance that you are looking to buy a condo. While homeowner insurance may be liable for catering for some damages, you can never be confident that you are fully protected without getting a specific policy to protect your condo.

To get the peace of mind that you deserve, the best thing to do is buying a condo insurance policy from Anchor Insurance Agency LLP. Condos are different from apartments. You own the unit although the HOA still owns some aspects of the condo and is liable for the repairs of the aspects. However, buying a condo insurance policy comes with numerous benefits which include;

It protects your personal property

The home owner association will not pay for your belonging like furniture and other items if fire or flood damage them. A Condo insurance coverage is meant to protect such things.

Theft coverage

If thieves break into your condo, theft coverage will cater for the losses of the damages made. It will help you in the replacement of the stolen items or if the condo is destroyed itself.

It protects you from uncovered disasters

The home owner association may not cover all types of calamities, but you can buy a policy that protects you in such events, for example, purchasing earthquake insurance in Plymouth, MN.

Helps in immediate payout

Even if the HOA protects some items, it can take you long for you to collect the policy. Getting your insurance helps you in immediate payment, and you can deal with HOA’s reimbursement later thus saving you the trouble.

Coverage away from home

The condo insurance policy can be written in a way such that you are protected for any incidence that occurs when you are away from home, and this is something that HOA policy does not include.

Find an affordable Condo Insurance policy in Plymouth, MN with Anchor Insurance Agency LLP. Get the coverage that suits your needs and enjoy the benefits above plus more.

Throughout your life, there are many reasons why you would want to increase the amount of your life insurance policy. You may have gotten married, gotten a raise at work, or had a new baby. But there are also times when you may want to decrease your policy limits. At Anchor Insurance Agency LLP, serving the greater Plymouth, MN area, we recommend a decrease after these life events.

You Have Paid Your House or Major Debt Off

When you have paid major debt off, such as your home, and you do not plan on accruing more debt, you should lower your life insurance policy. The amount of your policy should take into account your debt. This will help your spouse or kids live debt free if you pass. However, once your debt is paid off, you no longer have to worry about this, meaning you can lower your policy.

You Have Retired

Once you retire, your income will decrease. When this occurs, you learn to live off of less. As such, you can reduce your life insurance policy amount around this time as well. This will also help to decrease your premiums, which helps your life insurance policy fit within your new budget.

Your Children Are Out On Their Own

Lastly, you may want to think about decreasing your policy limits when you no longer have kids to take care of because they are out on their own. Some people do this once their kids graduate high school, while others decide to do it only after their kids finish college and get jobs. It is up to you to decide when, but once you are confident you won’t have to pay for your kids any longer, you can decrease your policy limits.

Trying to determine how much life insurance you should have can be challenging. But Anchor Insurance Agency LLP, serving the greater Plymouth, MN area, can help you with this task. Call us today to set up an appointment and we can help you determine how much life insurance is right for you.

Winter in Plymouth, MN brings with it a lot of things that people enjoy and some aspects that they don’t. Clearly, there are the beautiful sights and holidays. On the other hand, there is the cold, wet conditions, and slippery ice. For the most part, people inside a home don’t worry too much as long as the heating system is working properly and things are dry inside. However, snow can be a big risk to a home, even when everyone is inside and snow in itself is relatively light and small, according to Anchor Insurance Agency LLP.

Depending on the angle of one’s home roof or that of a detached garage, snow can build up very fast on top. A thin layer of snow is no issue, but when that same snow begins to get to be a foot to 3 feet thick, it’s now aggregating a serious amount of frozen water weight. And that creates a downward pressure with gravity that can sometimes break or cave-in older roofs. There is frequently very little warning when this happens; the roof just suddenly breaks and caves in due to the heavy weight. And then all that snow turns to water inside the home or garage due to the warmer temperature inside – a double whammy of damage.

Plymouth, MN homeowners insurance policies are generally designed to address sudden and unforeseen home damage. An unexpected cave-in with snow can likely be eligible for repair coverage, depending on the terms of a given policy. However, even though protection may be possible, prevention is still far cheaper. There are a number of systems that help melt snow on a roof before it gets too heavy, causing expensive damage. To find out more, call Anchor Insurance Agency LLP for questions about snow cave-in coverage and prevention.