Why Should You Update Your Life Insurance Policy After Having a New Baby?

Welcoming a new baby into your family is a joyous and life-changing event. However, it is important to consider changing your life insurance. Rising Star Insurance is here to help highlight the crucial reasons why you should take this vital step after your bundle of joy arrives.

  1. Increased Financial Responsibility: The birth of a child brings an increased financial responsibility. From diapers to education and everything in between, the costs add up. Updating your life insurance policy ensures that your family is financially secure if something happens to you or your spouse.

  2. Protecting Your Child’s Future: Life insurance isn’t just about covering immediate expenses. It’s also about securing your child’s future. By updating your policy, you can ensure there’s enough coverage to pay for their education and other needs, even if you’re not there to provide for them.

  3. Adjusting Beneficiaries: With the addition of a new family member, you may want to adjust your beneficiaries to include your child, ensuring they are taken care of should the unexpected occur.

  4. Reviewing Coverage Amounts: Your existing life insurance coverage may have been adequate before, but with a growing family, it’s essential to reevaluate the coverage amount to meet the new financial obligations and goals.

  5. Estate Planning: If you haven’t already, having a will in place is crucial when you have children. Coordinating your life insurance with your estate planning can help ensure your child is protected and provided for as you wish.

Rising Star Insurance, serving the greater Saint Paul, MN area, can assist you in making the necessary adjustments to your policy, ensuring that your growing family is protected. Don’t delay; take this essential step to secure your child’s future today.

What advantages come when I carry a commercial insurance plan?

Being a business owner is a goal for many people in the Saint Paul, MN area. When you start a business here, you must do your best to protect the organization. A way that all people can do this is by getting the right insurance for the company. Insurance policies provide a lot of benefits to the property owner, your company inventory, and your employees.

Cover Business Assets

A reason to ensure you have a commercial insurance plan when building a business is to protect your assets. When you create a business, you will have assets to acquire. This can range from inventory to office equipment to major capital equipment. In any situation, you need a commercial insurance plan to ensure you have support to repair or replace the items if you incur a loss due to a covered risk. 

Manage Liability Risks

Getting a commercial insurance plan to manage your liability risks is also a good idea. A business owner is going to take on many liability risks if they serve clients. A great way to manage these risks is by getting a commercial insurance plan, including liability coverage. This will provide great financial support if you are found liable for an accident. 

Those in the Saint Paul, MN area who want to get insurance will need to ensure they speak with someone they can trust. Our insurance team with Rising Star Insurance knows the value of commercial coverage and can help you create a new plan. When you call our professionals with Rising Star Insurance, we can give you the support you need to build your next policy.

What Is Covered and Not Covered By Home Insurance?

As a homeowner, you should do your best to protect your property. One of the best and most efficient ways is to have proper home insurance. However, you should also know and understand what is covered and what is not by home insurance.

Keep on reading to learn more about home insurance coverage:

What Is Covered By Standard Home Insurance?

Typically, standard home insurance covers a great range of damages. It covers your home (dwelling) and other properties located on your property, including a garage, fences, driveway, and others. However, if you have a structure on your property that you use for business purposes, it probably won’t be covered.

Personal property and belongings are also usually covered by insurance. This type of coverage is sometimes called contents insurance. It is important to note that coverage can be limited to certain types of items, such as jewelry, artifacts, artwork, and other valuable belongings. Therefore, when you are shopping for home insurance, make sure to ask your agent about special coverage for your personal belongings. 

What Is Not Covered By Home Insurance?

There are certain risks that home insurance does not cover. For example, it does not cover homeowners against flood-related damage, mudflow, abnormal tidal surges, and others. Typically, it also won’t pay for repairs or replacements due to an earthquake. 

Rising Star Insurance – Reliable Insurance Company in Saint Paul, MN

Are you searching for home insurance in the state of Minnesota? Do you need coverage to protect your precious home? Do not hesitate to contact Rising Star Insurance – a trustworthy and reliable insurance company serving clients in Saint Paul, MN, and other nearby towns. Feel free to reach out to us for more information.

Do You Need to Change Your Auto Insurance When You Move to St. Paul, MN?

As a new St. Paul, MN resident and car owner, it’s a good idea to determine whether you should add "switching car insurance" to your to-do list. Whether you’re a long-term resident of St. Paul, MN, or a new one, our team of insurance professionals at Rising Star Insurance in Saint Paul, MN is happy to help you navigate the auto insurance field. You might not need to change it depending on where you initially held your auto insurance policy. We’ve compiled some useful information below to show you whether it’s time to change auto insurance in the middle of your move.

Do I Need to Switch Auto Insurance Policies When Moving to St. Paul, MN?

If you were already a Minnesota state resident, you can keep your auto insurance the same if you’d like. Of course, if you moved across the state, switching to an auto insurance option with an office closer to your new residence may be more convenient. What’s more, you’ll have local help if you run into an issue with your auto insurance or need to file a claim. This can give you extra peace of mind and comfort. 

You only need to change your car insurance policy if you move to Minnesota from out-of-state. Even if you’re coming from a nearby neighboring state, you’ll need to switch to a local insurance carrier. Although this can feel like a hassle, our team has helped many out-of-state residents obtain local car insurance. We do our best to make finding the right auto insurance policy a breeze.

For a quote or more information, call our office at Rising Star Insurance in Saint Paul, MN!

Choosing the Right Type of Home Insurance for Your Needs

A home can be subject to many risks, such as fire, theft, vandalism, or from weather events. Insurance can help defray the cost of a damaging event, and finding the right insurance can take some thought and research. At Rising Star Insurance in Saint Paul, MN, we can help you find the right home insurance for your unique needs.

Many Types of Insurance Are Available

Home insurance is available at several different levels, from the basic to the comprehensive. Each type of policy includes certain coverages, as well as specific exclusions. An HO-1 policy covers only the main structure on your property. HO-2 policies will also cover other structures like sheds, gazebos, and similar items. HO-3 and HO-5 are considered standard policies for the home. The HO-3 policy offers primary coverage for several common perils, while the HO-5 policy offers more comprehensive coverage for additional perils. The price of each type of policy depends on how much coverage it will provide for the structure. Some types of homeowners insurance cover renters, manufactured homes, or condominiums.

Some Risks Are Excluded From Your Homeowners Policy

Homeowners’ policies do not cover flooding that comes from outside the house. If you live in an area subject to flooding, you will need to purchase additional flood insurance for coverage. Similarly, if you live in an area that experiences earthquakes, you will need to purchase earthquake insurance because your standard homeowner’s policy will not cover this risk. Other standard exclusions are wear and tear on the home, war, nuclear hazards, pest infestations, and general negligence of the property.

Make Rising Star Insurance Your Agent for Home Insurance in Saint Paul, MN

Homeowners’ insurance can be confusing, and you may have questions regarding the proper coverage. We offer our experience and training to help make this critical decision. Contact Rising Star Insurance Brokers today for a no-obligation quote on home insurance to protect your home investment.

Life insurance FAQs

Residents of Saint Paul, MN count on Rising Star Insurance when they need an independent insurance agency that can meet all their insurance needs. Our team is knowledgeable and can answer any questions that you may have about life insurance.  

Can I get life insurance without a physical exam?

Yes, you can. Whole life insurance policies don’t require a physical exam. This is insurance for the long haul and is usually more costly than term life insurance, but it also earns dividends. Some companies advertise term life without a physical, but it will be more expensive, and it is usually for smaller amounts of life insurance. 

Do I need my own life insurance if I get life insurance at work?

Life insurance from an employer is a great benefit. But letting your employer be in control of something as important to your financial future is not the best option. You should purchase your own life insurance in the amount that you know you will need and consider the work insurance as a bonus. 

How do I know how much life insurance I need?

Having an independent insurance agent who knows you and your needs is helpful. The purpose of life insurance is to provide for your dependents if your income is taken away. You need to multiply your income by the number of years you think you will need to provide for. If you have a large mortgage, that is a consideration as well. 

Do I need life insurance if I have no dependents?

If you have enough money in your checking account or savings to pay off any debt you have and pay for your final expenses, then no, you don’t. 

If you live in or near Saint Paul, MN, Rising Star Insurance can help with all of your life insurance needs. We are available to help with any questions you may have. 

Tips to prepare your boat for a storm

The storm season here in the Saint Paul, MN area can be problematic for boat owners. Preparing your vessel for an incoming storm is essential to protect it from the strong winds and heavy rains that can accompany it. Here are some tips from us at Rising Star Insurance to help you get your boat ready: 

1. Secure all loose objects on board – Anything not tied down should be securely stowed away in a dry location, such as an enclosed cabin or storage locker. Be sure to secure any items that could become hazardous during rough conditions, including large sails, fishing tackle, and boating supplies. 

2. Disconnect the battery – Unplugging the battery is always a good idea before a storm arrives so your electronics won’t be damaged by a power surge caused by lightning strikes or strong winds. 

3. Remove covers and tarps – These items are designed to protect your boat from the elements, but they can also act as sails when faced with gale-force winds, potentially damaging your vessel or other nearby boats in the marina. 

4. Inspect the hull – Make sure there are no cracks or gaps in the hull that could let in water during bad weather. If necessary, patch up any areas of concern before heading out on the water again after the storm passes. 

5. Invest in insurance – While you can take steps to minimize damage from storms, it’s best to have adequate coverage for your boat so you don’t want to worry about expensive repairs or replacements if something goes wrong during bad weather conditions.  

For more tips, call us at Rising Star Insurance today. We are proud to serve the Saint Paul, MN area.

How umbrella insurance supplements your home and auto policies

Despite our best intentions, accidents happen, and that is why you buy insurance. However, some people don’t have the right insurance or the right combination of insurance and coverage. The team at Rising Star Insurance serves Saint Paul, MN, so we want to ensure you are familiar with umbrella insurance and how it can protect you and your family.

Minnesotans experience severe weather, so consider what might happen if someone fell on your property or you were at fault in an auto accident involving serious injuries. In either situation, the liability for those injuries could exceed the amount covered by your home or auto policies, leaving you responsible for the remainder. In the worst case, that could mean the loss of your savings, home, or other assets.

That is where umbrella insurance kicks in by covering amounts over your standard policies’ limits. Of course, most policyholders never need to use their umbrella insurance, which makes these policies relatively inexpensive. In addition, umbrella insurance covers the "What Ifs" and provides peace of mind knowing your family is fully protected.

Besides your home and auto liabilities, umbrella policies can cover legal and court costs. Umbrella insurance doesn’t cover your personal property, business losses, fraudulent actions, or contractual obligations, but it provides an extra layer of protection by covering amounts over your standard policies.

Knowing you and your family are protected is comforting in a world where anything can happen. So, if you live in Saint Paul, MN, and want to discuss how umbrella or other insurance offers protection, the team at Rising Star Insurance stands ready to help. Call us today to look at the options that make the most sense for you.

Should You Provide Your Insurance Information After a Collision?

Nobody wants to get into an auto collision, but sometimes it happens. When it does, what are you supposed to do? Do you have to provide your insurance information to the other parties? Should you call the cops?

In any collision, the first and most important thing is to ensure that everyone involved is ok. Check for any type of injuries, and call 911 if anyone is hurt. 

If no one is hurt, then you have a little less stress, and you might ponder the right thing to do. You might wonder if it’s even best to give up your insurance information, especially if you’re confident that you aren’t at fault.

Should you give your insurance information to the other party?

Yes, If you get into a car accident, no matter how major or minor, it’s often a good idea to exchange insurance information with the other individuals involved. That info should also include names, license plate numbers, and driver’s license numbers.

So, when in doubt, exchange information. Also, when in doubt, contact your insurance provider and the police to ensure you take the proper action. In Saint Paul, MN, you must legally report an accident to the police if a person is injured or killed in the collision.

Aside from that, you want to exchange insurance information if any of the following is true:

  • A police report is filed
  • There was an injury
  • There was any amount of property damage
  • You are unsure as to whether or not you should

In general, it’s always ok to provide your insurance information. Still, there are circumstances when it might not feel necessary. So, here’s the one time when you can leave the collision without providing insurance information.

If everyone involved agrees that there are no injuries and that there was no damage, everyone agrees not to file a police report, and everyone agrees that you don’t need to exchange information, that is legal. Even then, it’s ok to exchange information, take pictures, and even file a police report. At the very least, you can still contact your insurance provider to ask for their advice, and they’ll walk you through everything necessary.

On the other hand, if you don’t have vehicle insurance, you need legal coverage immediately. For drivers in Saint Paul, MN, Rising Star Insurance is a great option.

Should You Provide Your Insurance Information After a Collision?

Nobody wants to get into an auto collision, but sometimes it happens. When it does, what are you supposed to do? Do you have to provide your insurance information to the other parties? Should you call the cops?

In any collision, the first and most important thing is to ensure that everyone involved is ok. Check for any type of injuries, and call 911 if anyone is hurt. 

If no one is hurt, then you have a little less stress, and you might ponder the right thing to do. You might wonder if it’s even best to give up your insurance information, especially if you’re confident that you aren’t at fault.

Should you give your insurance information to the other party?

Yes, If you get into a car accident, no matter how major or minor, it’s often a good idea to exchange insurance information with the other individuals involved. That info should also include names, license plate numbers, and driver’s license numbers.

So, when in doubt, exchange information. Also, when in doubt, contact your insurance provider and the police to ensure you take the proper action. In Saint Paul, MN, you must legally report an accident to the police if a person is injured or killed in the collision.

Aside from that, you want to exchange insurance information if any of the following is true:

  • A police report is filed
  • There was an injury
  • There was any amount of property damage
  • You are unsure as to whether or not you should

In general, it’s always ok to provide your insurance information. Still, there are circumstances when it might not feel necessary. So, here’s the one time when you can leave the collision without providing insurance information.

If everyone involved agrees that there are no injuries and that there was no damage, everyone agrees not to file a police report, and everyone agrees that you don’t need to exchange information, that is legal. Even then, it’s ok to exchange information, take pictures, and even file a police report. At the very least, you can still contact your insurance provider to ask for their advice, and they’ll walk you through everything necessary.

On the other hand, if you don’t have vehicle insurance, you need legal coverage immediately. For drivers in Saint Paul, MN, Rising Star Insurance is a great option.