How does boat insurance work?

Boat insurance is a must because it provides you with both essential protection. And more than just protecting your boat, it protects you as well. Rising Star insurance, in Saint Paul, MN, offers two types of quality insurance coverage designed to meet your needs. Both levels provide personal liability protection if you are sued by someone injured while they were on your boat.

Boat insurance is a method of risk management used by boat users to mitigate financial losses from perils, particularly physical damage or loss resulting from accidents or negligence. Boats are insured against many but not all risks. Insurance coverage varies in the amount and type of risk it covers.

How does boat insurance work?

Boat insurance covers damage to your boat and the things you keep in it. Like a car, your boat, and everything you own on it is covered by insurance when you have a comprehensive policy. This protects against theft, fire, vandalism, malicious damage, and acts of God. Collision cover is there to pick up the pieces if someone hits your boat or if you run into something.

Boat insurance covers your boat from theft and financial losses, including loss due to fire, storm, explosion, and sinking. Most boat insurance policies also cover personal items on board, such as clothing, toiletries, and fishing equipment. If you have an accident or your boat is vandalized, your third-party liability cover will pay for the damage you cause to a third party’s property and legal costs in defending you. When choosing boat insurance, it is essential to understand precisely what you want to be covered for and how much protection you want for your boat and its contents.

Why do you need boat insurance?

Why do you need boat insurance? You need to protect yourself against unexpected damage, theft, or total loss of your boat. Whether a boat insurance policy covers you or not, anything can happen to your boat. On top of normal wear and tear, your boat is exposed to the elements and may become damaged if not properly maintained. Even if it’s well-maintained, you never know when an accident might happen while you’re enjoying your time in the water. Having a standard insurance policy on your boat is essential for when accidents occur and for unforeseen problems that can affect your boating enjoyment.

Rising Star insurance is dedicated to all kinds of boats, including fishing and cruising boats, so if you’re looking for excellent insurance for your boat, we are here to help. Please speak to one of our agents in Saint Paul, MN, and get boat insurance coverage today!

The Reasons Why You Need Life Insurance

Are you debating life insurance for your Saint Paul, MN family but aren’t sure if it’s right for you? Let us help you at Rising Star Insurance. There are many reasons why you need life insurance. However, these simple reasons all help to make your family safer after you pass. Here are three of the most common reasons people get life insurance and what you need to know about them.

Death Can Come at Any Time 

Are you still relatively young and in good health? That’s wonderful, but death can happen even to the most prepared person. We’re not trying to scare you here, but it is essential to remember that things like car accidents, cancer, and much more don’t care about your overall health and youth. 

Your Loved Ones Need Protection 

Are you the primary breadwinner in your family? Then it would help if you had life insurance for after you pass. This policy will help your family take care of your after-life needs and recover after losing you. Money is not enough to replace you, but it can help make life a little easier to handle. 

Life Insurance is Usually Not Taxed 

When you leave money to your family after you pass, much of it will be heavily taxed, and your family won’t see that portion ever again. However, a life insurance policy is not taxed, meaning that they’ll get the vast majority of the payment, making life easier after you pass away. 

Give Your Family This Help 

If you want life insurance that Saint Paul, MN can trust to handle your after-life needs, please call us at Rising Star Insurance right away to learn more. Our team will work with you to find a meaningful policy and ensure that you are satisfied. 

Can commercial insurance protect a Minnesota business?

The Saint Paul, MN area has continued to be a good place to own and operate a business. If you do own a business in this part of the state, you can find that there is a lot of support for small organizations and that you can be quite successful. While there are clear opportunities for those in this area to do well, there are risks as well. A way that some risks can be offset is by getting a commercial insurance plan as it can protect a company in several ways.

Mitigate Liability Risk

A great way that someone can benefit by having a commercial insurance plan is that they can offset their liability risk. Business owners should always be aware that there is a chance that they could be held liable for an accident that results in a loss. As the damages can be significant, getting commercial insurance to mitigate the risk is helpful. 

Protect Assets of Company

You can also be protected by commercial insurance as it can cover your assets. A commercial property insurance plan can cover a wide range of assets that are owned by a business. If they are stolen, damaged, or destroyed, your commercial insurance plan can give the coverage you need to repair or replace them. 

Businesses all over the Saint Paul, MN area are going to need to have proper insurance support in place. If you would like to get commercial insurance protection here, it is always beneficial to speak with someone that you can trust and that is experienced. In this area, Rising Star Insurance is always a great group to call. The team with Rising Star Insurance can help you carefully assess all insurance options and give any support needed to build your next plan. 

When Should I Review My Life Insurance Plan?

When you think about life insurance, you see a safety net that protects your family and loved ones when you are long gone. While life insurance protects what matters most, have you thought about updating your policy? Life insurance isn’t a “buy and forget” policy. Rising Star Insurance in Saint Paul, MN, recommends you update your policy from time to time to ensure it meets your needs.

Not sure when you should update your life insurance policy? Here are the reasons you should review your life insurance policy.

Change of beneficiaries

A beneficiary is a person entitled to receive your life insurance proceeds when you die. Always have an up-to-date beneficiary list. Remove or add your beneficiary list should you marry, add a child, or divorce. Updating your beneficiaries smoothens the claim process when your loved ones lodge one.

You have a new job

Landing a new job is a big step in your life. As such, you need to check with your life insurance agent to see if your needs are still covered adequately. It’s essential to account for the changes in your income and lifestyle in your life insurance policy.

You have started a business

Life insurance isn’t for individuals only – it can benefit your business, too. Life insurance is pivotal for a business as the proceeds can be used to settle commercial loans or buy your shares to keep your legacy in the business.

You have added debts

Added a mortgage to your debt portfolio? Your life insurance agent should know about this and adjust your policy accordingly.

Learn more about life insurance in Saint Paul, MN

Still not sure when you should review your life insurance plan? Don’t worry. Life insurance can be a confusing topic for many. Fortunately, at Rising Star Insurance, we are here to become your lifelong partner when it comes to life insurance. Contact us today to get the conversation started.

The Importance of Home Insurance

Your home is one of the greatest and most costly investments you will make in your life so you will want to protect it as well as you can. While home insurance is not required in Minnesota, the home insurance agents at Rising Star Insurance in Saint Paul, MN are stressing the importance of having a policy in place.

If you borrowed the money to purchase your home from a bank or other lender, your mortgage company will require you to have home insurance but even if you paid cash for your home or inherited it from a relative, you should have a home insurance policy in place to protect your home from any incident that may occur in the future.

Coverage Options for Home Insurance

Your home insurance policy will help you recover costs of the structure of your home, along with outbuildings and other structures, including your deck and garage, if there is a fire, an act of vandalism, or a natural disaster that occurs. You will want the help in paying to repair or rebuild your home while recovering from one of these horrible incidents.

Your homeowner’s insurance coverage will also help you replace your personal belongings, household items, furniture, and appliances if one of these incidents occurs or if a theft or burglary occurs at your home.

Most home insurance policies do not cover things like earthquakes, flooding, or neglect of the home. You can add an additional coverage option that will provide relief in the event that an earthquake or flood occurs.

Contact the home insurance agents at Rising Star Insurance in Saint Paul, MN today to get your home insurance policy started.

How to Avoid Auto Insurance Scams and Be Safe

Buying auto insurance is paramount in protecting you from the uncertainty of accidents. However, you should also be careful to avoid sales scams because fraudulent agents, real and fake, take this opportunity to scam unsuspecting drivers. If you reside in Saint Paul, MN, Rising Star Insurance is a reputable and trustworthy insurance agency to help with all your auto insurance needs.

The following is how to be safe from auto insurance scams in 2021.

Look Out for Accident Scams

Scammers sometimes stage an accident scene very carefully with fake witnesses and legal advisors for made-up testimonies. It will be hard for an innocent driver to tell the truth about what happened with the combined effort of the scammers. In case of an accident, immediately request an official report to ensure the scammers don’t exaggerate the damage on their cars for a bigger claim.

Referral Frauds

Never provide personal information to anyone without verifying their credibility. Research the agent and the agency as there are many rising cases of auto insurance scams from referrals and other unsolicited sources. The state’s insurance department has a website where you can find licensed and reputable agencies.

At Rising Star Insurance, our agents are ethical, licensed, and legally permitted to provide auto insurance services to our clients.

Insurer Tricks

Sometimes cheap can turn out to be very expensive in the future. There are some fake agents who put ads online claiming to sell cheap auto insurance policies. If you invest in them without doing proper research, you might not realize the missing premiums till time to claim. Some unethical insurance agents may also add things you didn’t ask for to your premiums or coverages to get an extra commission, and it ends up costing you.

Car accidents are very stressful, especially if you don’t have a good insurer. That’s why you should always conduct in-depth research about a potential insurance agency before buying an auto policy. At Rising Star Insurance serving Saint Paul, MN, we value our clients, and that’s why we go above and beyond to ensure they get exactly what they need. Call us for quality auto insurance services and don’t fall victim to a fake agent’s scam.

Insuring Your Home in Saint Paul, MN: What to Include

Home insurance is required if you have a mortgage. There are many reasons for this, including the fact that you must insure your home in order to keep your loan. That’s because banks and lending organizations must protect their investment and cannot afford to take risks that might create a loss.

Legal or Illegal?

It is legal to own a home in the state of Minnesota without insurance, but it is not advisable. Rising Star Insurance in Saint Paul, MN takes care of residents in Saint Paul and the surrounding area, providing them with various types of coverage for their homes. 

If you have ever tried to repair a roof without insurance or done any other type of work on your home, you know the costs that can add up and that they can be insurmountable.

How Much is Enough?

The next issue you will want to decide is how much insurance is enough? In the Saint Paul area, there are a variety of different types of homes, some requiring more insurance to cover the value. That’s where the pros at home insurance come in. They can look at the size and value of your home and what it would cost to repair or replace it. 

Whether it be due to fire, flood, or other means, it’s important to evaluate the amount of home insurance you’ll need to cover the risk.

About Us

Visit with the professionals at Rising Star Insurance in Saint Paul, MN, and let them walk you through the process and look at your options. Your home is too important to you and your family to risk it. Get home insurance today from a trusted insurance agent. 

When considering insurance, always ask this question: "How much will it take to replace it if I lost it all?"

That will tell you how much insurance you need.

Should all Minnesota residents get life insurance?

Anyone that resides in the Saint Paul, MN area will have various insurance needs. One form of life insurance that people in this area of the state should consider getting is life insurance. This form of coverage can provide financial protection to the beneficiaries of the policy. There are several reasons all people in this area of the state should consider getting a life insurance plan. 

Coverage Provides Financial Support

A key reason to have a life insurance plan in this part of Minnesota is that it will offer financial support. Life insurance is designed to provide an insurance payout if the policyholder passes away during the term of the policy. This can be a great way to protect the financial future of those that you care most about. It can also cover end-of-life expenses, which otherwise may be a burden on your loved ones.

Coverage Offers Investment Incentive

You may also want to have a life insurance plan as it can provide a good investment incentive. If you choose to get a whole life insurance plan, some of the monthly payments will build up in an account and accrue interest. This can make whole life coverage a good low-risk investment and is a good addition to your total financial plan. 

People that are in Saint Paul, MN area would always benefit by having a proper life insurance plan. If you are in the market for a new policy in this area, it would be a good idea for you to call Rising Star Insurance. There are a lot of choices that come with life insurance and Rising Star Insurance can help you simplify your options. This can help ensure that you will receive the ideal life insurance coverage for your situation. 

How Much Does Boat Insurance Cost?

A boat is not an ordinary asset in Saint Paul, MN and owning one is pride. Getting decent insurance for your boat is not an overnight affair, as there are factors you must never overlook. It is prudent not to merge your homeowner’s policy with your boat insurance, lest you miss coverage like Wreck towing and salvage services. It is also wise to choose your insurer wisely since working with an institution such as Rising Star Insurance is a rewarding experience.

What To Consider

Insurance institutions look into several factors when engaging their clients on boat insurance. Luckily, almost every vessel has a matching policy with a reasonable price. Factors such as the value of your boat, current condition, physical size, horsepower, and the operating region, are among the primary ones when looking for a policy. Such determine the amount of money you pay for your policy.

What Insurance Options Do You Have?

Boat insurance policies come in two options, actual cash value, and agreed value. The approach employed to calculate the value of depreciation is the only factor that brings the difference. The second option concentrates on the initial value of the boat at the time of writing the agreement. It is more expensive but does not consider any depreciation, even in situations of total loss. The actual cash value is less costly because depreciation is a primary consideration. It compensates your boat depending on its current value after devaluation.

Getting boat insurance in Saint Paul, MN is not debatable as it falls among the most crucial requirements. You must buy a cover for your vessel in most states. You may have challenges trying to dock your boat without an insurance policy. Whether your state has laws governing boat insurance or not, failure to get a policy is not worth the risk. Contact Rising Star Insurance today to enjoy a smooth operation, knowing your vessel or finances are not in jeopardy.

How Does an Umbrella Policy Work?

Safeguarding assets is a number one priority for most people in Saint Paul, MN. With an umbrella insurance policy with Rising Star Insurance, you can enjoy extra protection over and above the existing limits of other insurance policies.

What Does an Umbrella Policy Cover?

An umbrella insurance policy protects you against significant liability claims that aren’t covered by other liability policies you have. An umbrella insurance policy will generally cover damage to property, injuries, and particular lawsuits.

While you might have other policies like homeowners insurance that cover some of those occurrences, it is vital to get umbrella insurance to cover you beyond the limits of those coverages.

An umbrella insurance policy doesn’t cover for:

  • Deliberate or criminal actions leading to damage to other people
  • Liability under a contract
  • Business losses

Do You Need an Umbrella Insurance Policy?

Umbrella insurance can come in handy for everyone. That’s because everyone is prone to accidents. Umbrella insurance policies help to avoid paying a high cost to a person’s legal or medical bills if you’re found responsible.

Let’s put it into perspective. Suppose you’re found responsible after a visitor is injured while walking or playing in your yard. Umbrella insurance will cover the resulting costs up to the limits of your policy.

 Your umbrella insurance policy can also extend to your children, spouse, and other relatives residing in your home. That means that you will have everything covered in case your teenage daughter causes an accident.

Get an Umbrella Policy Today

We’re in a world where anything can happen at any time. Your neighbors can sue you for anything, bringing about a significant financial burden. Even if you’re the most cautious person, you can end up being caught up on the wrong side of the law.

Are you seeking to find the most affordable insurance company in Saint Paul, MN? Check out Rising Star Insurance to stay protected.