When should I call my insurance agent?

Posted November 6, 2014 by Eric Tiffany in Personal Lines

1.)  When hiring a domestic worker.  This can include, but is not limited to nannies, nurses and gardeners.  Domestic workers paid more than $1,000 every 3 months are subject to the Workers’ Compensation laws of MN and coverage for domestic workers must be provided in accordance with Minnesota statute § 176.041.

2.)  When holding property in a trust.  Policies must be endorsed to identify the trust as the owner of the property in order for coverage to apply.

3.)  When remodeling your home.  If your replacement cost is guaranteed by your home policy, under most conditions, you should report when remodeling begins on your home.  If you don’t report  that you are remodeling your home, the guaranteed dwelling replacement could be voided.

4.)  When students are in the household.  Most insurance  companies will give a credit to students who maintain at least a 3.0 GPA.

5.)  Upon completing an accident prevention course.  MN statute § 65B.28 subd. 1 requires that all insurance companies must provide at least a 10% discount when 55+ year-old drivers complete their 8 hour accident prevention course.

6.)  When a blood relative moves into the household.  Some companies will allow a multi-car discount when a “blood relative” insures their vehicle with the same company.

*Keep in mind, that there are other life-changing events that may elicit a call to your insurance agent.  When in doubt, always call your agent!!!