Minnesota Life Insurance Professionals

For residents of Minnesota, life insurance policy options can be confusing. While it’s important to have good coverage for your family, it’s also important to choose products and policies that are affordable. The right combination of coverage and cost can give your family real peace of mind about the future. Here are some tips to help you make a good decision.

Who needs life insurance?

Conventional wisdom says that the main breadwinner of the family should be covered by life insurance. The reasoning behind that concept is that the breadwinner’s income should be replaced in order for the family to be able to continue with as little disruption to its current lifestyle as possible.

But many families recognize the importance of covering the main caregiver, too, even though that person is often not technically considered to be a breadwinner. The reality is that the cost to hire someone who could perform the same duties 24 hours a day, 7 days a week would be extremely high. So families who are raising young children or caring for elderly relatives need to consider life insurance coverage for the wage earners and the care providers.

Types of life insurance coverage

Term Insurance – Premiums for coverage must be paid on a regular basis, and there is no cash value at the end of the term. Premiums usually increase as the insured gets older. Or if premiums remain stable, the amount of coverage decreases. Usually the least expensive and most affordable type of life insurance, term insurance provides minimum coverage.

Whole Life, Universal Life and Variable Life – These types of policies offer fixed premiums, fixed coverage and a variety of different savings and investment options. Since a portion of every premium payment goes toward the cash value of the policy, there is a cash value remaining at the end of the payment term. As the policies age and gain value, it’s often possible to borrow against them tax-free.

Compare life insurance options

As you can see, because there are so many options to choose from, it can be a real time saver to find an agent who is knowledgeable about a wide variety of insurance companies and products, the expertise to compare and evaluate them, and the integrity to make recommendations based on your family’s needs and financial situation.

Choose experienced life insurance advisors

When you need expert and reliable advice about life insurance, visit one of Faribo Insurance Agency’s 3 local offices: in Faribault, MN…Hastings, MN…or Lakeville, MN. You can also call 888-923-0430, email us or use the Quick Quote Insurance form to ask questions. We’re here to help!

Minnesota Farm Insurance Experts

As a farmer in Minnesota, farm insurance is one of your most important expenses. To protect your home, your family, your assets and your business, you need to make sure you have the best possible coverage with a reliable insurance company. To protect your cash flow and your bottom line, you need to make sure you have the best possible rates. Here’s a basic overview of the items you need to consider when purchasing insurance for your farm.

Take an accurate inventory of your farm insurance needs

Evaluating farm insurance needs is more complex than most other types of insurance because, at least for small to medium-sized family operations, the owners are insuring both their homes and their businesses on the same premises. That means that a combination of personal assets and business assets must be included and considered, as well as the need for liability coverage.

Farm assets that need adequate insurance coverage may include farm equipment (tractors, combines, milking machines, etc), real property (barns, outbuildings, indoor arenas, fencing and other improvements), the farming business operation, crops, livestock, the family home, family vehicles (autos, RVs, motorcycles, snowmobiles, etc).

Find out what your current policies cover

Because farm insurance must cover both business and personal assets, your current coverage may be designed several different ways. It may include a commercial lines policy for the business coverage and a personal lines policy for your family’s coverage. Or you may have coverage that includes both your farming business and your personal family needs in one policy.

Evaluate your options for the best rates and coverage

Each farming operation has its unique insurance coverage needs. Besides crops and livestock, some owners need coverage for additional businesses like repair shops, retail gift shops and farm stores, daycare services, bookkeeping services, bed and breakfast operations, art studios, blacksmithing, hayrides, riding lessons…the possible combinations are almost endless. Yet each one must be properly addressed for effective insurance coverage. That’s why it’s especially important to consult with an experienced local farm insurance professional to find the best policies that cover all assets at the best rates.

Rely on a local Minnesota farm insurance expert

For expert answers to your farm insurance questions, Faribo Insurance is at your service in three locations: Faribault, MN…Hastings, MN…and Lakeville, MN. Call us at 888-923-0430,  email us or use the Quick Quote Insurance form. We’ll be happy to prepare a customized quote for your farm insurance.

Minnesota Health Insurance Experts

Trying to find the best Minnesota health insurance plan can be a confusing process.  According to local and national news stories, health insurance companies seem to be raising their rates on a regular basis, excluding coverage for selective pre-existing conditions in the fine print of their policies and playing hard to get when it comes time to pay a claim.  In such a volatile market, how can you possibly find a health insurance policy that you can rely on and afford? Here are a few things to consider.

What Kinds of Health Coverage Do You Need?

Medical coverage – Policies range from basic coverage for major medical events to coverage for ongoing well patient preventative care.  Weigh your pre-existing conditions, your current needs and the likelihood of your future health care needs against the costs to determine what features must be included in your policy.

Pregnancy and newborn coverage – If you are planning to have a baby in the near future, you’ll need to evaluate any health insurance plan you consider for pregnancy and newborn coverage.  If you’re considering using any alternative services like midwifery or acupuncture, make sure the policy you choose covers them.

Dental insurance – Healthy teeth are important for overall health.  If it’s not included in your primary policy, health insurance is usually available as a separate policy.

Mental health coverage – Some policies don’t cover any mental health treatments at all, some cover treatments for addictions and chemical dependencies, others cover out patient psychiatric treatment.

What Are Your Health Insurance Options?

You or some of your family members may be eligible for health insurance coverage at work or at school.  If so, it’s worthwhile to look into those options since they are likely to be offered at lower cost group rates.

But it’s important to read the policies carefully to determine coverage and exclusions, as well as the types and amounts of deductibles and co-payments.  Some policies exclude so much and have such high deductions and co-pays that they may not be worth the monthly premiums.

If you’re not eligible for group policies, individual health insurance is the logical choice. Researching policies on your own is time consuming and nerve wracking when it comes to deciphering the medical terms along with the insurance legalese.  You can save yourself time and frustration by consulting with a knowledgeable insurance agent.

Choose An Independent Insurance Agent To Help You

The experienced agents at Faribo Insurance are at your service in three convenient locations: Faribault, MN…Hastings, MN…and Lakeville, MN.  You can also email us or call us with your questions at 888-923-0430.  Or use the Quick Quote Insurance form online.  We’ll be glad to show you options for your health insurance that address all of your needs

Hastings MN Insurance – Faribo Agents Are Your Personal Team

When you’re searching for a Hastings MN insurance agency that combines expert knowledge with personal service, contact the agents at Faribo.  With several decades of insurance industry experience to draw from, you’ll be able to get all of your questions answered quickly.  Whether you need insurance that will cover your boat and RV, a Medicare supplement, or coverage for your new restaurant, Faribo insurance experts can prepare a quote and show you exactly what your best options are.

Expert insurance experience

Faribo Insurance is a Minnesota owned and operated Independent Insurance Agency which was started in 1953.  That’s more than 55 years of experience in the insurance business, serving the local community from in 3 office locations.  Since we represent several different insurance companies — like AAA, Progressive, Travelers, Nationwide Group (Allied Ins CO) – we know how to compare and analyze different policies and plans.  And because we work with both personal and commercial lines, we are experienced in preparing quotes for homeowners’ and automobile insurance, as well as annuities, workers comp and group plans for large or small businesses.

Professional insurance training

As members of the Independent Agents Association, we have access to ongoing in-depth training in both personal and commercial insurance lines.  As members of the Professional Insurance Agents Association, we are committed to providing product choice and competitive pricing to our clients.

Customer service from local agents

Why is working with a local insurance agent important?  Aside from the fact that we know Minnesota insurance law, we also know the local territory.  For homeowners, for example, that means we know what kinds of insurance people need to protect their assets from damage that can occur during Minnesota blizzards and ice storms.  Local businesses that need insurance protection get the same kind of expertise. And since we live in the same communities that our clients live in, we have a personal stake in finding you the best coverage and the best prices.

Your personal insurance team

At Faribo insurance, our mission is to provide exceptional and personal customer service.  We prepare insurance quotes based on your individual needs.  As team members of a full service independent insurance agency, Faribo Insurance agents will be glad to answer your questions. Our offices are located in Faribault, MN…Hastings, MN…or Lakeville, MN.  Give us a call at 888-923-0430, email us or use our Quick Quote Insurance form to receive a custom proposal.  We look forward to hearing from you!

Lakeville MN Insurance – Local Professional Faribo Agency

When you’re shopping for the best rates for Lakeville MN Insurance, Faribo agents know exactly where to look. We can create customized insurance quotes, compare plans and policies, and make recommendations based on your personal and business insurance needs. As “Independent Agents”, Faribo insurance experts represent many different insurance companies and we are committed to finding you the best coverage at the best prices, based on your individual needs.

The best insurance companies

We represent a large number of different insurance carriers so that we can present you with the best options for coverage. And we work with many “A” rated insurance companies so you can rest assured that they will pay their claims. Some of the companies we use are Travelers, Auto Owners Group, Nationwide Group(Allied Ins CO) , Austin Mutual, West Bend Mutual and State Auto just to name a few.

The best insurance rates

We’re committed to staying informed of changes in insurance company plans, policy coverage and rates. Once we know exactly what kinds of coverage and payment plans you need, whether for personal or business coverage, we work hard at analyzing options to find the best coverage for your situation and budget.

What kinds of insurance coverage do you need?

Along with homeowners’ insurance and automobile policies, Faribo’s agents are trained in both personal and commercial lines. For example, if you own a business, we can help you obtain general liability, workers comp, group health and business owners’ coverage, just to name a few types of policies. On the personal coverage side, we can assist you with getting disability insurance, annuities, and coverage for your boat, RV, motorcycle and snowmobile. If you own a farm, we can prepare proposals to cover that, too.

Expert insurance agents and members of your community

Faribo’s staff of professional agents has decades of insurance industry experience with both personal and business policies and plans, large and small. And we’re not hiding in an office across the country or halfway around the world. We’re active members of the community, so we have a personal stake in providing you with the best coverage, at the best prices and with the best customer service.

You always know exactly where to find us

Whenever you need information about insurance, just give us a call at 888-923-0430, email us or use our Quick Quote Insurance form. We will promptly prepare a proposal for you and answer all of your questions. Or visit us in person at any of our three convenient locations in Faribault, MN…Hastings, MN…and Lakeville, MN. We look forward to meeting you!

Minnesota Snowmobile Insurance Experts

When you live in Minnesota, snowmobile insurance is as important as car insurance.  And when there’s fresh snow in the weather forecast, you want to be able to suit-up and enjoy yourself.  The last thing you should have to worry about is whether your family, your friends and your equipment have adequate snowmobile insurance coverage.  Here are some tips to follow to make sure you’re adequately covered so that you can have peace of mind when the snow flies.

Inventory your snowmobile equipment for insurance purposes

List what you own. To ensure that you will have the coverage that you need, it’s important to have an accurate and current inventory of your snowmobile equipment.  Make a list of everything that you own that’s related to snowmobiling: equipment, accessories, apparel.  Gather the receipts and keep them in one place.  List the manufacturers’ name, models and ID numbers – spreadsheet software is ideal for this, but make sure you print out a hard copy for safekeeping.

List what you plan to buy. It’s a good idea to make a list of all of the snowmobile items that you plan to buy in the next few years.  Of course, you won’t want to purchase insurance for items that you don’t own yet.  But you can find out now whether they will be eligible for coverage and the approximate cost.  With that kind of information, you will be able to budget more accurately and make better informed buying decisions in the future.

Find out what your snowmobile policy covers

The snowmobiles alone are not your only investment that should be covered.  After taking inventory, you probably have a long list of extra equipment and accessories that you own

Helmets, safety goggles, boots, gloves, snow pants and jackets are all necessary when you and your family participate in snowmobiling.  Snowmobile equipment and parts such as trailers, luggage racks, sleds, covers, skis and windshields represent a sizeable cost if you have to replace them.

You will want to make sure that the Minnesota snowmobile insurance policy you choose provides the coverage that you need at the best possible rate.

Consult with a professional insurance agent

As team members of a local insurance agency, we know all about snowmobiling in Minnesota.  At Faribo Insurance, we are always happy to answer your questions and provide expert advice. Visit one of our convenient office locations in Faribault, MN…Hastings, MN…or Lakeville, MN.  Or call us at 888-923-0430, email us or use the Quick Quote Insurance form to get a customized quote. We look forward to talking with you!

Minnesota Auto Insurance: MN Drivers Decide On Local Agents

When deciding whether to buy online or use a local auto insurance agency, MN drivers are fortunate to have options.  Although buying car insurance online seems like an easy alternative, there are some hidden pitfalls that a local agent can help you avoid.

Buying car insurance online seems like such an easy thing to do.  Just fill out a few forms, wait for the computer to spit out a price comparison, pick the lowest priced policy, make your first payment, and you’re done.  But how do you know that the policies used in the comparisons were the best choices for your situation?  And who do you call when you need to make a claim?

Find the Best Insurance Coverage

When you work with an independent insurance agent, you have an insurance professional on your side to help you accurately determine your coverage needs.  Professional agents will go beyond just asking you the kinds of obvious and basic questions found on an application form.  They know how to evaluate your insurance needs from a big picture perspective. That means they will look for hidden discounts that may be available because of other coverage you carry.

Find the Best Insurance Policy

Local Minnesota insurance agency professionals are knowledgeable about which insurance products offer the best coverage for the geographical area.  If you buy a policy online and miss reading a detail in the fine print, you may end up without coverage for hail or ice damage, or pay too much for it.  That’s not a problem if that was your intention.  But if you’re insuring a brand new vehicle, it may end up being an expensive mistake — one that an expert agent can help you avoid.

Find the Best Insurance Companies

Experienced agents not only know which insurance companies provide the best coverage, they also know which companies are reliable and financially sound.  This is especially important after witnessing former Wall Street giants fall due to shady business practices.  After paying the premiums into your policy, you need to know that the insurance company will still be in business if you need to make a claim.

Find the Best Insurance Claims Service

Having to make an insurance claim is usually a stressful time in anyone’s life.  So before buying your car insurance online, think about this: how much time will you have to spend on hold when you call?  How many times will you have to explain the situation to a new customer service rep each time you call? And how many times will you have to call to get your claim paid?  A personal agent will take your calls and help you through the claims process.

As team members of a local auto insurance agency, MN agents at Faribo Insurance will be glad to answer your questions. We have offices in Faribault, MN…Hastings, MN…or Lakeville, MN.  You can call us at 888-923-0430, email us or use our Quick Quote Insurance form to get a custom quote. We look forward to hearing from you!

Professional Insurance Agency: MN Expert Advice

By using a professional insurance agency, MN residents are assured of getting expert advice and the best coverage for their needs.  But how can consumers tell if they are working with insurance professionals instead of  ordinary salespeople?  One way is to find out what kinds of professional associations they belong to, and the values promoted by those organizations.  Here is a look at two memberships that your insurance professional should maintain.

Independent Agents Association

Member agencies have a commitment to providing exceptional personal service, expert knowledge and a variety of choices to their clients.  Your agent will talk with you about your priorities and goals, and work with you to find coverage that is custom tailored to fit your individual situation.

Accurate needs assessments — Each client’s needs are different, and developing an accurate needs assessment is a skill that comes with experience.  Some people need coverage to protect their home and family.  A family with teenagers has concerns abut the best options for including teens in their auto coverage.  Businesses have additional risk management needs to cover inventories, partners, employees and customers.  Independent agents take the time to train and develop expertise in assessing client’s needs.

Compare, analyze and recommend the best options — Once your needs are identified, your independent agent will compare policies from a number of different insurance companies and analyze them to determine which ones offer the best coverage for your needs.  Rather than leaving you on your own to read the fine print and make a guess about which policies are best for you, your personal agent will work to find the balance between your financial resources and goals, and the insurance coverage that you need.  You will know exactly what coverage your policies provide.  And you will get clear and direct answers to all of your questions.

Professional Insurance Agents Association (PIA)

As a team member of a professional insurance agency, MN insurance agents who belong to PIA demonstrate their commitment to ongoing education and participation in their local communities.

Ongoing education – Insurance professionals make a point of staying on top of changes in their industry.  Whether it’s new legislation or a new insurance product that can affect their clients, professionals make sure they have the latest and most accurate information to add to their knowledgebase.  They know they are responsible for guiding their clients’ decisions, so they place a premium on keeping themselves well informed.

Commitment to the local community – Minnesota insurance agency professionals enjoy knowing that the families and businesses they serve are also their neighbors.  They have a personal stake in building a prosperous and solid community.  And when their clients need to make claims, they can be there to lend a helping hand.

When you need professional insurance advice for your home or business, Faribo Insurance has 3 local offices: in Faribault, MN…Hastings, MN…or Lakeville, MN.  Call 888-923-0430 or  email us with your questions.  Or use the Quick Quote Insurance form for your convenience.  We’re here to help!

Homeowners Insurance Agency: MN Residents Have Choices

When selecting a homeowners insurance agency, MN residents have to weigh the benefits of using a local agency against finding one online.  Billions of advertising dollars each year are poured into promoting the convenience of buying almost everything online, and the ads are very effective for the corporations that sponsor them. So it’s important to evaluate whether or not buying homeowners insurance on the internet or through a Minnesota insurance agency is the right choice for you and your family.  Here are a few points to consider.

Is it really as convenient as it seems?

The image of being able to sit in front of your home computer and compare homeowners’ policies while lounging in your sweat suit has advertising appeal.  But what happens when you really need to use the policy?  It’s annoying enough to shuffle through an endless maze of automated menus or wait on hold for hours when you just want basic information.  But suffering through that when the roof has just collapsed during a 100-year snow storm is more than anyone should have to bear. At times like that, real convenience means being able to call your local insurance agent to recommend the best contractors.

Are you getting the best possible coverage for your family?

Computers are wonderful resources and they excel at processing information quickly.  They’re very good at compiling personal data and returning a recommendation based on statistical averages.  That’s fine if your insurance needs are a cookie-cutter match with their statistical models. But what if they’re not?  And when you’re not an insurance professional yourself, how do you get answers to the questions that you don’t know you should be asking?  By working with a local insurance agency, MN homeowners get the benefit of professionals with years of experience in assessing each family’s individual needs and tailoring homeowners’ insurance policies for a custom fit.

Are you getting the best price for your coverage?

The answer to this question is related to whether or not you’re getting the best coverage.  If you purchase a homeowners’ policy online for a “bargain” price, the policy may not deliver the coverage you need.  Or you may pay for coverage that you don’t really need. You may also be able to reduce the cost of your homeowner’s insurance by combining it with other policies.  Unless you truly enjoy reading and evaluating fine print, you’ll be much better off delegating that chore to a qualified Minnesota insurance agency professional.

Faribo Insurance is at your service in 3 convenient locations: Faribault, MN… Hastings, MN… and Lakeville, MN.  Call us with your questions at 888-923-0430.  You can also email us or use the Quick Quote Insurance form.  We’ll be glad to prepare a quote for your homeowners’ insurance that is a custom fit for your needs.

Business Insurance Agency: MN Companies Choose Local Options

When deciding to work with a business insurance agency, MN business owners should consider the value of having access to experienced, local insurance professionals.  While it’s obvious that every healthy business needs adequate coverage in order to mitigate risk and control costs, local pros can bring additional assets into the equation.  Local knowledge, accessibility, a personal relationship and the value of your time are also important to consider when buying or renewing insurance policies for your business.

Mitigating Risks and Controlling Costs

These factors are interrelated.  Cost cutting that results in inadequate coverage ends up to be expensive in the long run.  And buying unnecessary coverage is expensive, too.  Balancing risk and cost involves accurately assessing business needs and matching them with optimal coverage from the most suitable insurance vendors.

Local Insurance Knowledge

Retailers, manufacturers, contractors, legal and medical professionals, restaurant owners and other businesses all have different insurance needs.  And some of these needs are defined by local geography.  While it’s popular to consider the possibility of saving money by buying insurance online, a mistake in assessing your business coverage needs can end up costing much more than was saved.

Minnesota Insurance Agency Professionals

Doing business with Minnesota insurance agency professionals that know the potential liabilities arising from snow and ice makes more sense than asking someone sitting among palm trees half a world away to recommend the best coverage.

Accessibility – When there’s a question about business insurance, owners and managers need an insurance professional who will take the call and answer questions.  They don’t need to wait on hold for hours, or waste time shuffling through an endless maze of automated menus.

Personal relationship – As businesses grow or contract, their insurance needs change. It’s natural for owners and managers to be preoccupied with daily operations, so it’s easy for a company to become over or under insured.  But a good insurance agent becomes part of the risk management team, monitors business needs and provides continuity.  There is no need to recreate the business history and circumstances to a new person each time there’s a question, as must be done when calling a remote help desk.  And in the event that a claim is necessary, a local agent can answer questions and help smooth the process.

Time – It’s valuable.  And by working with a local business insurance agency, MN companies can focus on their profit centers knowing that their insurance needs are covered.  There’s no wasting time online or on the phone trying to reach someone who has the knowledge and authority to solve problems, because answers are just an easy – and local – phone call away.

And speaking of local phone calls, you can call Faribo Insurance at 888-923-0430 with your Minnesota insurance questions.  Or if you prefer, email us, visit one of our local offices in Faribault, MN…Hastings, MN…or Lakeville, MN…or use the Quick Quote Insurance form to receive a custom proposal.