Your home is probably your most expensive asset and you need financial protection in the event of damage. Having insurance is very important, regardless of where you live. You are at a higher risk for fire damage from a wildfire if you live near a forest, but there are many other reasons to have home insurance.
Buying a policy is the first step, but it's important to understand and know what that policy covers. Many people don't check their plan until they suffer a loss, and then it's too late. Avoid surprises when you file a claim by knowing which items have coverage. Minnesota's Department of Commerce is a great resource for information about insurance.
Comparing Minnesota Home Insurance Rates
When you're shopping for the best homeowners policy, you'll want to compare rates and coverage options. Several companies, big and small, offer policies in Minnesota. Do your homework and you'll find a policy that suits your needs. If you live near a forest, you may pay more for your policy. You can possibly lower your premiums by opting for a higher deductible and installing certain protective devices.
Dangers in Minnesota
Wildfire is a fact of life in Minnesota. The Department of Natural Resources protects those people who live near forests and wildlands, and minimizes the loss to Minnesota's natural resources. To do your part and manage your risk, create a defensible space zone around your home. Your zone should be free from:
- Tall vegetation
- Tree limbs over the home
- Fuel tanks
In addition, make sure your driveway allows access to your home for firefighters. Fire damage from a wildfire is a real possibility if you live near a forest. The Minnesota Department of Natural Resources has tools to assess your risk and ideas for managing that risk.
Minnesota winters are harsh. Damage occurs to homes when snow piles up, with flat roofs being the most at risk. It's also possible to suffer water damage when all that snow melts. You should clear snow away from your basement doors and windows. Also, make sure your attic has proper ventilation. This keeps melting snow from refreezing along the roof's edge, creating ice dams. Ice dams block water drainage from the roof and force that water under the roof and into the attic and walls of your home.
Frequently Asked Questions About Minnesota Home Insurance
Here are some answers to common questions you may have about Minnesota home insurance:
1. Will the government assist if your home suffers damage?
The government only offers assistance if it declares an area a national disaster. If that is not the case, responsibility falls on your home insurance provider.
2. Can an insurer deny you a policy?
An insurance company can deny you a policy, but only in specific situations. For example, if your home is older or the electrical or other specified systems are out of date, an insurance company may deny coverage.
3. Can an insurance company cancel a policy?
There are only certain reasons that an insurance company can cancel your policy, including nonpayment of premiums or false representations made by you. You also face potential cancellation if there is an increase in risk from the original policy. This can be due to something the homeowner has done or something omitted from the application.
How to Get Great Rates on Minnesota Home Insurance
Has it been a while since you shopped for homeowner’s insurance? Is so, loyalty doesn’t always pay because prices vary from insurer to insurer. Another company may offer you a much better deal. Looking for home or renter’s insurance quotes? insuranceQuotes.com can help you find the best homeowner’s or renter’s insurance policy at the best price. Every year, we match 15 million consumers to the nation’s biggest home insurance companies, including Allstate, State Farm and Farmers.
Minnesota Home Insurance Resources
MN Department of Commerce and Insurance
Up-to-date material and helpful links for Minnesota consumers
Insurance Federation of Minnesota
Informative non-profit site offering a wealth of insurance information for Minnesota consumers
Minnesota Home Insurance
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