Blog

Hello Mabel, MN!

March 1, 2019 By Forrest Dailey

Horihan Insurance recently added a Mabel, MN branch, formerly Holland Insurance, making it our sixth location after Rushford, Winona, Rochester, Lewiston and Lanesboro.

Any expanding company experiences growing pains along the
way, and we are no different. But in doing so we have found that there is great
opportunity to learn and improve in how we serve our communities. We do not
take those opportunities lightly.

With every expansion we see more and more clearly that while
each community has its own unique touches, its own particular set of concerns,
when you boil it all down, we are one big community. And we all want a few core
things in this life.

It is often thought that as a company grows, it tends to
value the individual and their needs less and less. That could not be further
from the truth with Horihan Insurance. We look forward to every opportunity
that growth brings, in the hopes of making ourselves a valued and trusted
institution in the communities we serve.

Having said that, we want to take this opportunity to
introduce ourselves to those of you who are in the Mabel area, southern
Fillmore and Houston Counties, and northeastern Iowa.

Hello! How are you? We hope you are very well.

Whether you were a client of Holland Insurance or you just happened upon this blog looking for an agent in your area who you can rely on, whether you’ve heard of us before or you are just becoming familiar with the Horihan name right now, we look forward to showing you how this growing experience has made us your best insurance choice.

Now that we are a little closer to home for you, we would
appreciate the chance to work for you. And when we do, we sincerely hope that
you will plainly see the honesty, security, and value that we strive to give
you, in all our interactions with you.

In the meantime, give us a look at www.horihan.com and on
Facebook.

Here’s to a bright future for Horihan Insurance in Mabel!

The When, Why and How of Valuable Items Floater Policies

February 4, 2019 By Forrest Dailey

If you have a homeowner’s
insurance policy, you probably understand that your policy covers the contents of your home, not just the
structure. But a general homeowner’s policy has limitations on the dollar
amount of coverage. Also, under a general homeowner’s policy there may be
restrictions on coverage based solely on the cause of the loss. For instance,
did you know:

* Some homeowner’s policies will
not cover damage done by a houseguest?

* Or that damage from some types
of natural disasters are not always covered under your homeowner’s policy?

* Or that there is probably a
very low level of coverage on certain items (jewelry, for example) in the event
of a theft?

There are a few ways you can handle this. You can raise your coverage limit on your homeowner’s policy, but that will only take you so far. Or you can lock your valuables away in an everything-proof treasure chest…but then what’s the point of having them? Probably the better option is getting a floater policy.

Valuable articles floater
policies become important around this time of year particularly because of
exceedingly valuable gifts that tend to be exchanged on Valentine’s Day (again,
jewelry). But they are important all the time if you are a person who has
valuable items in your home.

A floater policy will cover
losses of almost any type. Any exceptions to that would be listed on the
policy. But what types of items could be covered?

* Valuable furs, even imitation
fur may require a floater policy.

* Specialty electronics equipment should probably be covered under a floater. So if you are a photography enthusiast and own a variety of specialty equipment this will apply to you. Same goes for if you are a musician and have expensive instruments or sound equipment. Of course if these things are your livelihood then they will be covered under a commercial policy.

* Golf, cycling or hunting enthusiasts know that some people who share your passion are willing to pay extravagant amounts of money for equipment. Maybe you are one of those people. If you are, that equipment should be covered under a floater policy.

* Do you own valuable pieces of
art, fine china, or other collectibles (stamps, coins)? These all kind of fit
under the same category but they may be handled in very different ways under a
floater policy; either for the amount of insurance stated in the schedule for
that particular item, an itemized listing of the pieces, or by blanket
coverage. If by blanket coverage, no appraisal would be required.

The floater policy can provide
virtually unlimited amounts worth of coverage, with $10,000-$20,000 worth of
coverage per single item common (depending on the item) with no deductible.

Another valuable feature of a
floater policy is that it allows you a window to report new items you’ve
purchased. If you have this policy and you add a valuable piece to your
collection which is then stolen, you may still be able to be compensated even
if it wasn’t listed on the policy originally.

It is important to remember that
items worth over $1,000 will usually be required to be appraised before being
insured with a floater, and you’ll need to provide proof of that appraisal. In
the event of loss, you will be compensated in one of the following ways,
whichever is the lowest:

* The cash value of the item

* The amount for which the item
could be reasonably expected to be repaired or replaced

* The amount of the insurance you
have on the item

Please call your nearest Horihan Insurance location if you have any questions about this complex yet very important type of coverage.

Make a New Year’s Resolution Not to Underestimate the Importance of Service Line Insurance Coverage.

January 4, 2019 By Forrest Dailey

The New Year is a time of re-evaluation in every aspect of life. Insurance is no different. It got me thinking, what is there to know about one’s insurance coverage that too many people are just not aware of or not made aware of by their agent? It didn’t take long to identify a common source of confusion, and to resolve to clear up some of that confusion.

So let’s talk about Service Line Insurance.

Simply put, Service Line Insurance is coverage on anything that comes onto your property via wiring or piping, including connection pieces, valves and pumps. As the homeowner, the property owner, you essentially own that portion of the piping and wiring which are grounded on your property, such as:

Sewer
Wells and septic systems
Water pipes
Power lines
Natural gas and propane lines
Steam piping
Communication or data-transmission wiring

To be covered under Service Line Insurance, three factors have to be met: The service line must be (1) on your property, (2) outside of the house, and (3) buried underground. Pipes and wiring inside the house should already be covered by your homeowner’s policy.

Many people either think the items on this list are covered by their policy as it is, don’t know the coverage exists, or come to find they were never offered it by their agent.

Is the infrastructure of your neighborhood outdated?

If so, chances are, at some point you will encounter service line issues. But the great news is most companies will provide this coverage regardless of your home’s age or the age of the service lines in question.

Service Line policies usually cover about $10,000 worth of damage, and they are, like many over-looked types of insurance, surprisingly inexpensive to add to your policy when you consider the alternative, which is the $10,000 out of your pocket. In 2017, it was determined that the average cost of Service Line claims was $4,428 but it can be much more. One pipe, along with excavation, labor, and everything else that comes along with the repairs has been known, in this agency’s experience, to cost $9,000 alone. So you can imagine how one unfortunate event could send your household back to the Dark Ages. But, again, you could avoid calamity with a $50 Service Lines policy added on to your homeowner’s policy.

It covers repair and labor costs, excavation costs, and the cost of replacement parts (including the wiring and piping itself). Additionally, if you need to uproot your whole life for a few days because of the damage, it will cover hotel costs.

Service line damage can occur in a variety of ways:

Accidental breakage (landscaping accidents or damage done by heavy equipment)
Ground-dwelling rodents
Tree roots creeping in upon the area where the lines are grounded
Stress fracture of pipes from freezing and thawing
Electrical surge or lightning strike
Fracking
Mechanical breakdown due to the wear and tear of time.
Unforeseen defect in the equipment.

NOT covered under Service Line Insurance, contrary to common assumption, are:

Blocked pipes if there is no physical damage to the pipe
Damage to lines due to landslides.

Contact a Horihan Insurance agent today to discuss what coverage you may need to add to your current policy.

The Joys of Holiday Travel and Gift-Giving

December 3, 2018 By Forrest Dailey

Have you got a flight booked for a getaway for the holidays?

Have you got your Christmas shopping done?

If you aren’t that far ahead of the game yet, then there is time for you to think about a couple of things for when you do get there.

Travel insurance, and Shipping insurance.

We often wonder where the stress that is so common during the holidays comes from. If you really think about it, you’ll probably find it either comes from travel arrangements or from gift-buying and shipping arrangements. To really be able to enjoy the holidays and remove some of that stress from our lives, it is a good first step to have these types of coverage, if needed.

Some people think travel insurance is only necessary for when you are going out of the country in the event you’d need medical attention which your American insurance will not cover. But travel insurance is much more than that. Travel insurance may cover you if:

you need to cancel your trip or return from it earlier than expected. And there are wide variety of reasons why this may happen. Life is unpredictable.
you miss your flight or is cancelled (apparently only 80% of all flights were on time.
a hurricane or a terrorist attack ravages your destination city.
you lose your luggage or passport.
your cruise ship company goes out of business between the time you book the trip, and the date you were set to embark.

As with anything, it is very important that you check your travel insurance policy to make sure it covers these things. Do not assume.

As for shipping insurance – which is just travel insurance for the gifts you’re mailing out when you think about it – most major mail carriers automatically cover damaged or lost packages for up to $100 just to provide you a sense of confidence in them. So there is good news! But with Christmastime packages, the loss can easily go beyond that, and like we said, not all carriers provide this complimentary coverage.

Interestingly, just a few years ago UPS reported an on-time delivery rate of packages which was just about exactly in line with the on-time rate of all US domestic flights cited above. About 80 percent. And the other 20% of the packages were not only misdirected or late deliveries. Some of them just disappeared.

Though many of the below hinge on your package actually reaching its intended destination, there are a few ways you can avoid the chance of mishap between the seller and your front door.

Set up a camera at your front door to deter would-be thieves, or to catch them in the act should they be so bold.
Have your packages sent to your workplace, or to a friend or family member’s home at a time you know they will be there to receive it directly from the delivery person.
Some carriers will allow you to change the destination while your package is en route if your plans change.
You can schedule delivery at a certain time when you know someone will be home. Also If you know you are going on vacation and assume there will be some packages coming to your door, you can request they be held for up to 14 days.
If you have it shipped by FedEx, have packages sent to your local FedEx office. They will generally hold it for five business days, on the house.
You can request that a signature is obtained upon delivery, so you can be sure your package is not left sitting out, at risk of being stolen. You can also request that the ring your doorbell or knock on your door rather than simply leave the package at your door.

Keep these preventive measures in mind, but also check if your carrier of choice does provide the package insurance and up to what dollar amount. If they do, and the contents of your packages are less than the amount they cover then you won’t need to buy any further coverage. Then all that will be left to do is enjoy the holidays with your loved ones.

Happy Holidays to all, from Horihan Insurance!

Hello Mabel, MN!

The When, Why and How of Valuable Items Floater Policies

Make a New Year’s Resolution Not to Underestimate the Importance of Service Line Insurance Coverage.

The Joys of Holiday Travel and Gift-Giving

Rochester, MN

Winona, MN

Rushford, MN

Lewiston, MN

Horihan Insurance is licensed to do business in Minnesota, Wisconsin, South Dakota, and Iowa