Best Homeowners Insurance Agencies in Rochester

Frequently Asked Questions

• Introduction

  Homeowners' insurance is a type of property insurance used by private property owners to protect their home and property from a range of risks and liabilities. It is also called home insurance.
  

  
  

  All homeowners' insurance policies cover the primary home on a property, meaning that most damage from weather, accidents, vandalism, and other events will be at least partially paid for by the insurance company. Many policies also include coverage for other structures, personal property, and some premises liability.

  
  

  It is not required by law that a homeowner purchases insurance for their property. However, if you have a mortgage, the lender will usually make purchasing a homeowners' policy a mandatory part of the loan process. Since the mortgage lender is essentially selling you the home, they require you to protect the investment.
  

• How can a homeowner's insurance agency or company in Rochester be verified?

  If you have questions about a homeowners insurance agency or company in Rochester, you can call the Consumer Services Center of the Minnesota Department of Commerce at 651-539-1600. You can also ask about the status of their license. Complaints with insurance agencies or companies are likewise handled by the Consumer Services Center.

• Can an agency or company in Rochester refuse to renew a home insurance policy?

  Under Minnesota's Commerce Department rules, insurance companies cannot generally refuse to renew a home insurance policy or other plans. There are some exceptions to this rule, such as if the policy was canceled. Another reason an agency/company may refuse to renew a home insurance policy is if the policyholder is using the property for illegal activities. If the homeowner has not paid property taxes on the insured property for two years or more, the agency/company may also refuse to renew the plan.

• Will home insurance cover the costs if an individual, while on the property of the policyholder in Rochester, was bitten by the latter's dog?

  Yes, most Rochester homeowners' insurance policies include liability coverage. This covers medical and possibly legal expenses if an individual is injured while on the policyholder's property. Dog bites are most likely included in this category. However, there may be coverage limitations, so it is best to check with your homeowners insurance agency or company.

• Should a homeowner in Rochester update their home insurance policy if the value of their home changes?

  Yes, the value of a Rochester home will most likely change over time. When this occurs, contact your homeowners' insurance agency or company to review and update your policy. They have the industry knowledge to identify any gaps in your coverage and recommend solutions that will meet your needs. It is also recommended that you review your home insurance policies on a yearly basis, even if there have been no significant changes to the overall value of the property.

• What are storm chasers in Rochester?

  Storms frequently hit Rochester, and individuals posing as authorities on weather-related damage would frequently appear and knock on doors to offer their assistance to homeowners. These storm chasers would persuade homeowners that their homes required urgent major repairs. Additionally, they would compel the homeowners to sign away their claim to any insurance payouts for property damage. Even though not all storm chasers are con artists, many of them have a reputation for performing work either poorly or not at all. To avoid being taken advantage of after a storm, it is best to call your home insurance provider.

• What determines the price of homeowners insurance premium?

  The premium, or monthly cost, of your homeowners' insurance policy depends on several factors, including the value of your home and amount of coverage you choose. Your credit history and whether the property is in a higher risk area also play a role.