Having enough insurance is different for everyone. For many people, having enough liability insurance entails getting an umbrella insurance policy. This kind of insurance works alongside the auto and home coverage that you already have. If you are interested in umbrella insurance, call us at Rising Star Insurance in Saint Paul, MN. 

Liability and Auto Insurance

If you have auto insurance, you may know that it comes with a certain amount of liability coverage. This liability coverage, however, is often relatively low. Today’s costs for injuries and property damage are higher than ever, and that can mean that your insurance policy doesn’t pay for everything before it meets its maximum payout. If you have umbrella insurance, that’s when your umbrella policy kicks in. It covers over and above the amount that your auto insurance will pay to give you a much higher maximum payout. 

Liability and Home Insurance

Umbrella insurance works in much the same way with home insurance as it does with auto insurance. It gives you a higher maximum payout after your home insurance has paid its maximum for liability. This gives you another high maximum that can pay off your liability without you having to pay for it out of your own pocket. 

Get More Liability Coverage

In today’s world, medical bills and property have skyrocketed, and your liability insurance coverage may not have kept up with the times. If you want to be protected from the many accidents and incidents that can lead to you paying for medical bills and repairing the property, call us at Rising Star Insurance in Saint Paul, MN. Make an appointment to talk with an agent about umbrella insurance policies and how they can protect you from costly bills and lawsuits. 

Do you have children? If so, you need a life policy from Rising Star Insurance. Having this type of policy can help ensure your kids are taken care of in the event of your death. Keep reading to learn why every Saint Paul, MN parent needs to have adequate life insurance.

Why Parents Need Life Insurance

It’s probably pretty obvious that working parents have a big role in the financial structure of the family. After the death of a loved one, the surviving family can sometimes have a hard time making ends meet or even keeping up with the mortgage. However, the proceeds from a life insurance policy can help fill in gaps, pay off the house, and more.

And, yes, even stay-at-home parents need life insurance coverage. The reason for this is that the adult who chooses to take care of the household may only contribute a minimum financially, but they play a huge role in childcare, household tasks, and more. After a death, the surviving parent would be forced to hire someone to come in and take care of the same things.

Even Divorced Parents Need Life Insurance

Although it might be difficult for some co-parents to arrange, even divorced couples need life insurance coverage. The reason for this is that if one parent dies, the other one will likely still need the support of some kind, whether that’s financial or just an extra babysitter once in a while to fill in the gaps. Plus, having a policy ahead of time can help ensure the children have the resources they need to thrive.

Our Rising Star Insurance Team Can Help

While having a difficult conversation about life insurance is tough for most couples, protecting your children is well worth the discomfort. By ensuring you have enough coverage, you can rest assured that your family will have the financial resources necessary to carry on after the unthinkable.

Are you looking for life insurance in Saint Paul, MN? Please contact our Rising Star Insurance team today to schedule a no-obligation consultation appointment.

Starting a business in Saint Paul, MN? Congratulations on joining the entrepreneurial team. Starting a business comes with many considerations such as location, product or services offered, employees, and security. It is easy to forget about commercial insurance, which is critical for safeguarding your investment. At Rising star insurance, we are all about helping you find a policy that fits all your business needs. With that said, here are tips to help you choose the best commercial insurance for your new business.

Assess your needs and risks 

Every industry has its own risks and challenges. As a first-time business owner, you will need to conduct a thorough research about your industry and know the potential risks involved. If you need to employ workers, you will equally need to purchase the workers’ compensation policy. Other hazards include theft in that location, potential accidents of workers or customers, and natural disasters. 

Know how much insurance you need

Once you know the risks involved and other aspects that need to be covered in your commercial insurance, the next step is to determine how much insurance you need. If you are running a small business in Saint Paul, MN, you may not need much insurance, unlike big companies. However, most states require workers’ compensation, even if it is one employee. Other insurance coverages to consider include; general liability insurance and professional liability coverages.

Choose your insurance agency wisely.

When it comes to choosing the best insurance agency, don’t just go for the cheapest. Most of the more affordable policies are not reliable, and you may end up digging into your pockets to fix damages or pay lawsuits. A good insurance company should look at your needs, assess your risks, and come up with a policy that takes care of all your business insurance needs.

For more information about commercial insurance, feel free to speak to us at Rising Star insurance, and we will be happy to help.

When faced with the task of purchasing life insurance policies many people will struggle to decide between whole and term life policies.  Rising Star Insurance can help people in the Saint Paul, MN area to better understand the basics of each type of policy and can help you make the right decision for you and your intended beneficiary.  The biggest difference to keep in mind is that whole life insurance policies cover you for your entire life whether you live to be 40 or 115; while term life insurance policies only cover you for the term of the policy which can range from one year to twenty.  

Whole life policies were created to balance out problems with term life insurance.  These policies last the insured person’s entire life.  Whole life policy premiums don’t increase during the life of the insured.  This means that premiums, the amount of money you pay each month to keep the policy in effect, will be higher than a term life policy when you first start to pay on it. The extra premium money becomes the cash value for the policy.  The insured can borrow this money or withdraw it early.  Of course, you must repay the loan and continue to make premium payments as well.  Your beneficiary will not pay tax on the death benefit money when they receive it.  However, the beneficiary is only paid the amount of the policy.  They will not receive any cash value money there may be.  

Term life insurance policies only stay in effect for the term the policy is purchased. These amounts of time may range from one year to around twenty years. If the insured dies within the term of the policy then their beneficiary will receive a tax-free cash payout. Most insurance companies require that the potential policyholder be examined by a doctor to make sure they do not have any serious health problems.  This is usually only required for the initial purchase of the policy and not necessary when the policy is renewed.  Premiums often increase every time the policy is renewed and as the policyholder ages.  The death benefit does not increase, however, unless the policy is changed.  The higher the death benefit the higher the premiums usually.

Understanding the basic differences between whole and term life insurance policies will help you decide which is best for you and your beneficiary.  In the Saint Paul, MN area please visit the website for Rising Star Insurance to begin your search for the right life insurance.  

Boat insurance is just as essential as auto insurance and other types of insurance. When you’re in The Land of 10,000 Lakes, the water activities are endless. There are different risks associated with boating and it’s best to have insurance. Here’s what you need to know about boat insurance coverage specifics for Saint Paul, MN.

Types of Coverage for MN Boat Insurance

Types of MN boat insurance coverage for boat owners include:

• Boaters liability
• Physical damage
• Uninsured watercraft
• Medical payments protection
• Special equipment
• Trailer coverage

Boaters Liability Coverage

Liability coverage for your boat handles damages that are associated with an accident in which you are held legally responsible. These damages can include victim injuries and loss. This liability insurance covers expenses associated with third-party medical bills, legal expenses, and property damage.

Physical Damage Coverage

Repairing or replacing a watercraft can be expensive regardless of its age. Physical damage coverage helps with financial losses due to damage, theft, or being destroyed in a situation that is considered a covered loss.

Uninsured Watercraft Coverage

If you sustain injuries due to an accident caused by an uninsured boater, receiving compensation for losses can be difficult. Uninsured watercraft coverage helps with compensating for accident-related injuries.

Medical Payments Protection

If you or your passengers sustain injuries while boating, medical payments protection helps with medical expenses. This insurance protection is valid regardless of who is responsible for the accident. Although this coverage is limited, it can help alleviate some of the financial stress of an emergency hospital visit. 

Special Equipment Coverage

Special equipment coverage handles damages to any special equipment you may have on your watercraft, including GPS and similar devices. These devices can be expensive and special equipment coverage can help with the cost of repairs or replacement.

Trailer Coverage

Replacing a trailer that is damaged will cost a lot less than purchasing a new watercraft, but it is still expensive if you do not have the correct coverage. This insurance can protect your trailer in the event it is stolen or damaged.

At Rising Star Insurance, we provide our expertise to help you find your ideal insurance coverage. We provide a variety of insurance solutions to St. Paul, MN residents, including auto, home, commercial, life, boat, and watercraft insurance, and other types of insurance. Contact us today to learn about your insurance options.

Umbrella policies can provide the provide you need when you most need it.  When you secure an umbrella policy, it won’t activate until other policies have reached their coverage limits.  This can be invaluable if, for instance, someone is injured on your property due to your expenses.  In this scenario, your home or commercial insurance will go into effect.  If their medical or legal expenses exceed what is covered in that policy, the umbrella insurance goes into effect.  Another example is the destruction of your home or business during a natural disaster.  The base policy will help you repair or rebuild.  If expenses exceed what is covered, you are responsible for the additional funds.  In either of these examples, the additional funds could be financially devasting.  An umbrella insurance policy can protect against these situations by providing additional funds when they are needed.  Our agents at Rising Star Insurance in the Saint Paul MN area are ready to talk with you about your options. 

Umbrella insurance is simply a financial tool that is designed to protect home and business owners.  In the instance of someone being injured at your home, your home insurance policy may pay out $300,000 to cover their expenses.  If their expenses exceed that amount, you will be responsible for the additional monies.  When an umbrella insurance policy is put in place, the additional expenses and your assets are protected. 

In the Saint Paul, MN area, our team at Rising Star Insurance can help with any of your insurance needs.  They will provide information so that you can decide if umbrella insurance is right for your family or business.  We’ll provide information about your options so that you can decide if it is the best option for you.  We want you to be adequately protected.  Give us a call today!

Choosing a motorcycle insurance policy in Saint Paul, MN is a big choice. To make this choice, you need to do your research and contact insurance providers like us at Rising Star Insurance.

The following are three things you should do before you make a purchase on the right motorcycle insurance policy for your needs. 

Compare rates between different providers

There are a lot of different insurance providers out there to choose from. You can shop around and compare rates between providers to find the best solution for your needs. 

Most motorcycle insurance providers will provide you with a free quote on a policy. It’s a good idea to get a few quotes before you make a decision on a particular policy. 

Look out for discount opportunities

You may have some discount possibilities available to you when you’re purchasing motorcycle insurance. You could be offered a discount for having a good riding record or a long history without infractions as a motorcyclist. You could also be given a discount if you bundle policies or if your bike has certain safety features. 

Understand state requirements

Motorcycle insurance is more than just a good thing for bikers to have. In the vast majority of states, it’s also required by law. In the state of Minnesota, motorcyclists need to carry $30,000 in coverage for death or injury for one person. They also need to carry $60,000 in coverage or death or injury for multiple people. Another insurance requirement for motorcyclists is at least $10,000 of property damage coverage. 

If you’d like to learn more about motorcycle insurance coverage in Saint Paul, MN, we can help. Contact us with your questions at Rising Star Insurance. 

 

While the Saint Paul, MN area is often considered a cold place to live, it does have a long period of the year when the weather is great. Due to the vast amount of local lakes and waterways, it is also a great place to buy and use a boat. When you are looking to get a boat, it is important to consider all of your boat insurance needs. There are several reasons why someone here may need to have boat insurance.

When a Local Requirement

One situation when someone in the Saint Paul, MN area may need boat insurance is if it is a local requirement. Depending on where you live and use your boat, you may be obligated by local or private ordinances to have boat insurance. Normally, boat insurance is required to make sure you are able to pay for damages if you cause an accident. 

Satisfy Loan Agreement

Another situation when you may need to have boat insurance is if you need to satisfy a loan agreement. Most people have to take out a loan when they buy a boat. However, there are a lot of rules that come with these agreements. One requirement that you will likely have is to have boat insurance. Normally, you will need to prove that you have boat insurance before you close on the boat loan. 

If you need a new boat insurance policy, it would be a good idea to reach out to Rising Star Insurance as soon as you can. The team at Rising Star Insurance knows how important it is to have boat insurance. They can work with you to assess your personal situation and help you to get into a policy that provides you with the right type and level of boat insurance coverage. 

When a Saint Paul, MN business is looking to protect themselves over the short term and long haul, Rising Star Insurance is here to help. The concept of umbrella insurance may be a difficult one to understand but there is no shortage of benefits to be enjoyed. A company that does not have umbrella insurance is leaving themselves exposed to major lawsuits that can wipe out a business completely.

Saint Paul, MN businesses that have already obtained insurance may wonder if umbrella insurance is truly necessary. In order to preserve assets and property, umbrella insurance is one of the key components of this process. Let’s take a closer look at the following benefits:

Property Damage

A garden variety insurance will not provide the protection that a business owner requires in these instances. If property damage takes place and there is no umbrella insurance policy to speak of, a business owner is often forced to shoulder the full financial burden. This is especially crucial when the costs exceed a general liability plan. 

Bodily Injury

Any business owner that has opened their company to the general public will need to purchase an umbrella insurance policy. The typical policy is only able to offer coverage up to a certain number. If bodily injury occurs on the premises, the business owner remains liable for what has taken place….even if their policy cannot offer the necessary assistance.

Offsite Damages

Let’s say that the company employs workers who are responsible for offsite jobs. When one of these employees has an accident or incident that causes damage, an umbrella insurance ensures continued protection. There are increased liability risks associated with working offsite that have to be addressed in a proactive manner. 

If you have any further questions about the best ways to protect a business with umbrella insurance, be sure to stop by Rising Star Insurance and receive a free quote with no obligation. 

Life insurance is one of those things no one really wants to think about. However, it is a certainty. Sooner or later your family will need it. How much do you need? How can you know that your loved ones will be financially stable when you pass away? If you need life insurance in Saint Paul, MN, Rising Star Insurance has a plan that’s right for you. 

Do You Need Life Insurance?

Before you answer the question of how much, you must first determine if you need it in the first place. Do you have the financial means to cover your final expenses? Not just burial costs, but unpaid medical bills and other debts? Do you have dependents or a spouse that relies on your income?

Life insurance makes good financial sense if:

• Others rely on your income
• You have debt
• You don’t have enough to cover final expenses

How Much Life Insurance Is Enough?

The simplest way to figure out if you have enough life insurance is to multiply your yearly income by 6 or 10. This should give you a ballpark figure. However, there are other considerations as well.

First is debt. You want enough insurance to cover any debt you may leave for your loved ones. This includes mortgage, credit cars, auto loans, medical bills, and any other debts.

Final expenses for a funeral are normally between $10,000 and $20,000. It’s a good idea to check in your local area ahead of time. In fact, you may be able to select a plot and plan your funeral ahead of time, so you have an exact price and your loved ones won’t have to arrange things.

Lastly is leaving enough money for those who depend on your income. If your spouse also works or would be capable of working in the event of your passing, 6 to 10 years’ worth of income can be suitable. However, if your spouse has no other income or there is a special situation like a disabled or ill child, you will want to take this into consideration. How much would it take for them to be taken care of until retirement?

Life insurance isn’t fun to think about, but it can be comforting to know that your loved ones will be cared for if you pass. Rising Star Insurance in Saint Paul, MN can offer you and your family peace of mind, which is priceless.