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4515 E Superior St
Duluth, MN 55804

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Important Life Insurance Facts

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Luke Peterson Insurance is an independent insurance agency. We are committed to helping Altoona, IA residents find the coverage they need to navigate life’s risks. We work with different carriers across the state to give our clients a wide variety of options.

We look forward to assisting you.

Important Life Insurance Facts

With so many responsibilities daily, it may be difficult for you to start planning for the future. However, accidents can happen at any moment. During those times when an emergency occurs, obtaining insurance makes things easier. Life insurance is a common example. While death is an uncomfortable topic for many people, the policy helps alleviate some stress. If you pass away unexpectedly, your loved ones can use your life insurance policy to settle your affairs or continue to maintain the previous standard of living. You can help provide comfort during a difficult situation. Your loved ones may face complications making arrangements without the security a life insurance policy provides.

Term life insurance policies are common. These types of policies provide full coverage over a specified period. The average term length on most policies is 15-20 years. Whole life policies are another option. These policies allow you to maintain coverage throughout your entire lifespan. You can also pursue coverage through your employer. Remember that you may not receive the same benefits in a group policy that you would if you had your own individual policy. As you age and your life changes, you can adjust your coverage options.

Luke Peterson Insurance Will Help You Protect Your Assets

Visit our office in Altoona, IA to learn more about life insurance.

Why Does RV Insurance Matter?

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Whether you are a seasoned RV owner or are looking to purchase, you need to think about RV insurance. Because your RV is a massive investment, you can’t leave it exposed to risks on the road and in the storage facility. You should buy coverage from Deluxe Insurance Group to protect your vehicle and yourself.

Not convinced about RV insurance? Here is why this coverage matters.

It gives you liability protection.

If there is one thing that can mess with your finances is liability claims from third parties, especially when sued. Unfortunately, liability claims are common, so you need a proper insurance plan to cover yourself. RV insurance protects you when other people accuse you of causing bodily injury and property damage. It also covers you when sued.

Asset protection

Since your RV doesn’t come cheap and it’s expensive to repair, you need insurance that protects your investment. RV insurance compensates you when your RV is damaged or stolen. While RV insurance doesn’t prevent perils from happening, it lessens your financial burden after a calamity.

It’s required

Like your vehicle, Minnesota requires all RV owners to purchase insurance. Failure to purchase the minimum required insurance may result in penalties and fines. But why go through this, you can purchase affordable coverage from Deluxe Insurance Group?

Also, if you have purchased your RV through a loan, your lender may require you to invest in RV insurance until you pay off your loan.

Peace of mind

You shouldn’t think of this and that peril when using your RV. Investing in RV insurance wipes away your worries, helping you have a relaxed time while on the road.

RV insurance in Duluth, MN

Want to invest in RV insurance? You don’t have to hop from one insurance agent to another. Partner with Deluxe Insurance Group in Duluth, MN, and we will meet all your RV insurance needs.

What Are The Myths About Boat Insurance?

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If you are a lucky boat owner, you should think about getting boat insurance. The purpose of boat insurance is to cover loss or damage to your boat or watercraft and to protect you from such physical damages as theft, vandalism, and other accidents. If you are currently shopping for auto insurance, there are certain existing myths about it that need to be debunked: 

Myth 1: Your Boat Is Covered By Home Insurance

Many boat owners mistakenly believe that they do not need separate boat insurance because their boat is covered by home insurance. Yes, some home insurance policies cover boats and watercraft as well, but their coverage is usually very limited and does not protect you and your boat from many things. 

Myth 2: You Will Be Covered Anywhere You Go Boating

The truth is that most boat insurance policies cover only the specific area where you are typically boating, including the general area around it. Therefore, if you decide to go with your boat on vacation, there is a chance that your boat will not be covered. 

Myth 3: Boat Insurance Is Expensive

In general, boat insurance is not as expensive as many people think. Moreover, there are ways to reduce your monthly premium. For example, you can take safety courses to significantly reduce the cost of your boat insurance. 

Deluxe Insurance Group (Duluth) – Your Reliable Insurance Company In Minnesota

If you live in Duluth, MN or any other nearby town, and you are looking for proper boat insurance, Deluxe Insurance Group (Duluth) is the right company to contact. We are glad to provide you with all the necessary and accurate information about this type of insurance, answer all your questions, and help you find the perfect policy. Our company serves clients in Duluth, MN and other nearby areas. Do not hesitate to contact us any time – we are always here for you. 

Life In A Flood Zone: What You Can Do To Protect Your Home

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If you live in an area prone to flooding, it’s important that your home is fully protected. In addition to having a rock-solid flood insurance policy, you’ll also want to take steps to physically protect your property in the event of a flood. 

Consider Raising Your Home

Talk with a contractor about whether it’s possible to raise your home off the ground. Doing so can lower the risk that your home and belongings will be damaged in the event of a flood (and can provide you with ample parking). 

Grade Your Lawn

Discuss changing the grade of your lawn with your landscaper. If your lawn tilts toward your home, excess rainwater will pool around the foundation of your house. Changing the grade of your lawn so that it tilts away from your home can make it easier for rainwater to drain away in the event of a flood. 

Leave Space Between Your Home and Mulch

Resist the temptation to put mulch right up against your home. If you live in an area known for its wet weather, it’s likely that your mulch will be wet or damp often. Mulch that is not dry and pressed against the side of your home can cause mold to form in your siding, resulting in damage to your home.

Reach Out To Deluxe Insurance Group (Duluth), Serving Duluth MN For Your Flood Insurance Needs

If your home is in a flood zone, it’s important that you have flood insurance to protect your home and assets. Reach out to Deluxe Insurance Group (Duluth) serving Duluth, MN for all your flood insurance needs. 

What Does RV Insurance Cover?

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If you have an RV and plan to use it at all, you are going to want to buy insurance for it. You need it to protect your family (and your liability), just in case anything happens while you are out having fun in your RV. 

So, what does your insurance cover? 

Bodily injury liability. This will cover any medical bills that occur if you have an accident while you are in your RV. It may also help to cover the loss of income due to injuries. 

Property damage liability. This will cover any damages that occur to the other vehicles that may occur in an accident. 

Collision. If you have collision insurance, it will cover the cost to fix or replace your RV, no matter who caused the accident. 

Comprehensive. Comprehensive insurance covers other damages that may occur to your RV, including theft, damage due to fires or storms, and other things that may happen. 

Uninsured and underinsured motorists. This insurance will protect you if you get in an accident with someone who doesn’t have insurance (or doesn’t have enough). It will help cover any expenses that may occur. It will even cover hit-and-run accidents. 

Medical payments. This will cover your medical bills if you are involved in an accident, no matter whose fault it was. 

Most states require you to have bodily damage liability, property damage liability, uninsured motorists, and underinsured motorists. You may not need to have collision or comprehensive insurance, though it is a good idea if you have an expensive RV that you can’t afford to fix. 

To make sure that you are fully protected, no matter what happens, contact us today at Deluxe Insurance Group (Duluth) in Duluth, MN. 

Do Duluth Bikers Need Year-Round Motorcycle Insurance?

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Winter is approaching, and for many bikers, this means it’s time to winterize and put up their motorcycles for the season. Not everyone enjoys cruising in the bitter cold on icy roads. A sensible person might ask whether I need to carry year-round insurance on my bike over winter. In short, yes. Let’s review some critical details about motorcycle insurance in Duluth, MN to help you make the best choice for your ride. 

It’s a Minnesota Requirement

At the very least, all motorcycles in Minnesota must carry liability protection, and this only covers property damage or bodily injury when you are at fault. Your bank or lien holder, should you have one, might also require you to carry collision and comprehensive to protect their interest. 

Additional Coverage Options

  • Collision – Covers damage to your bike
  • Comprehensive – Covers damage to your bike not originating from a crash – like weather events, theft, fire, and vandalism
  • Uninsured/underinsured motorist coverage – Covers damages not caused by you when the other driver does not have any or sufficient coverage
  • Customization – If you’ve invested in custom, aftermarket parts on your motorcycle, make sure your coverage is sufficient to repair or replace them if they are damaged. 
  • Lay-Up Policy – In some cases, you can acquire lay-up coverage while your bike is in storage for the winter months. This reduces your policy premiums but retains ongoing coverage for the risk you still maintain – comprehensive.

Saving Coin 

Aside from considering a lay-up policy, when available, remember that insurance companies sometimes extend discounts for continuous coverage. Meaning it may cost you more, in the long run, to drop coverage over the winter. In addition, you may be able to receive discounts for including multiple bikes on your policy, installing anti-theft devices, or taking safety courses. The best way to discover potential savings is to reach out to Deluxe Insurance Group (Duluth) today and ensure you have the best coverage for your coin.

Is Your Ski Gear Covered by Boat Insurance?

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Boating is much more fun when you add skiing to your routine. However, is your gear covered by your insurance company? At Deluxe Insurance Group (Duluth), we can help Duluth, MN residents understand these concerns and avoid running into problems as a result of an accident.

Your Gear Is Covered 

Boat insurance is designed to handle various elements and items within your boat, making sure that they are paid for fully and with minimal issues. This fact is true of skiing gear. If you get into a crash and your gear is damaged, you will be protected from loss.

That said, there are times when your policy might not handle this type of loss. In this situation, it is important to do what you can to understand what might happen otherwise. Typically, these scenarios are thankfully quite rare.

When It Might Not Be Covered 

If you leave your ski gear in your boat when storing it and someone steals it, or it gets damaged by weather, you are not covered. Your insurance covers your items when you are using the boat. However, some types of situations may also be handled, depending on your policy.

In these rare situations, it is wise to talk to your insurance agent to see if you’re covered. Doing so can help to ensure that you get the high-quality help that you need. And you can avoid having to get so many repairs on your skiing equipment, too.

Help is Available

At Deluxe Insurance Group (Duluth), we help Duluth, MN area residents get the high-quality boat insurance that they need to keep their watercraft safe. So, if you’re concerned about this situation and want to minimize any confusion that you may have, call us today to learn more. 

Why Should I Have Flood Insurance?

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When people decide to protect their homes through insurance, the first thing that comes to mind is homeowner’s insurance. However, the biggest challenge is that most people assume that flood insurance is covered under home insurance, which is not the case. Flood insurance comes in handy, especially for people living in flood-prone areas. Deluxe Insurance Group (Duluth) in Duluth, MN explains why you should consider flood insurance.

Protecting the Structural Damage to Your Home

Structural coverage deals with the structure of one’s home, including essential elements like the HVAC unit and electrical wiring. Floods have been known to cause significant damage, almost crippling one’s financial status. The water damages the flooring and walls and leads to the growth of mold. In severe circumstances, it can create cracks in the foundation, putting your home at risk. Flood insurance helps cover the cost of repairing your home. This includes components like electrical rewiring or replacing drywall.

Protect Your Property

Your personal property is likely to get damaged by water when your home floods. With content coverage, your insurance company will help replace any content you have lost. This includes the furniture that you cannot salvage and electrical gadgets that get ruined by water. However, confirm with your insurance agent what your particular policy covers. For instance, you may have limited coverage when it comes to some valuable items like a family heirloom. Confirming this ahead of time will help you decide if you need to buy additional coverage.

Considering that even an inch of water in your home can cause significant damage, most homes are not entirely safe from flooding. However, purchasing flood insurance is what makes the difference between recovering from a flood and a financial setback. Residents of Duluth, MN, looking to protect themselves, can reach out to Deluxe Insurance Group (Duluth). Our skilled agents will help ensure that your home is adequately protected, giving you peace of mind.

Here’s Why Liability Coverage Is Important For Condo Owners

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Here’s Why Liability Coverage Is Important For Condo Owners

If you own or are planning to purchase a condo, you’ll want to take out a condo insurance policy, which will protect you from damage and will provide funds to cover repair costs. If your condo is damaged in a fire or by a burst pipe, for example, your condo insurance plan may reimburse you and pay for the repair costs.

Many condo insurance plans also cover various liabilities should you find yourself facing a lawsuit in civil court. If someone is injured in your condominium unit, for example, you could be on the hook for expensive medical bills. You may also have to hire a lawyer to represent you in court.

That said, with condo liability insurance, your insurance provider may pay the medical bills, and if necessary, a lawyer to represent you and your insurer in court.

Contract the Deluxe Insurance Group (Duluth), serving greater Duluth MN, to learn more.

Condo Owners May Be Liable For Many Different Things

Let’s say you invite a friend over, and he trips on the rug in your living room. He fell and broke his arm. You call an ambulance and your friend is taken to the hospital where doctors run tests, set the bone and make a caste, and perform other things.

Your friend might be facing hefty medical bills. He could also try to sue you to recover the costs associated with treatment and also lost income.

If you don’t have condo liability insurance, you may personally be responsible for these bills. Don’t have the money on hand to cover the bills? The government could seize your assets or garnish your wages.

If you have condo liability insurance, however, your insurance provider instead may cover the medical bills and other costs. Besides slip and falls, liability insurance may cover damage and medical bills associated with dog bites and other accidents within your condo unit.

Condo liability insurance may also cover damage that you cause outside of your condo. Let’s say you visit a neighbor and while there, you accidentally knock over and destroy her expensive television. Your insurance provider may pay to replace the TV.

Liability insurance can be difficult to understand. Have questions? Contact the Deluxe Insurance Group (Duluth), which serves the greater Duluth, MN area.

Essential Life Insurance Terminology Explained

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Life insurance can be a confusing topic to figure out. Here are a few terms that will help you clearly speak the language of life insurance. For more details on these terms or on any other life insurance questions you have, trust the Deluxe Insurance Group (Duluth) serving Duluth, MN to meet your needs.

Accelerated Death Benefits: Benefits that are available before death. They might also be called living benefits and can often be accessed in the event of a chronic or terminal illness

Accidental Death Insurance: A frequent add-on to policies that are paid out if the insured person dies because of an accident

Annuity: This pays out a fixed sum of money to the policy holder at regular intervals

Annuity Certain: Pays an income for a pre-determined number of years and will then pay the beneficiary the remainder of the policy if the insured dies before the end of the term

Beneficiary: The person or people chosen by the policy holder to receive the proceeds from an insurance policy if the insured dies

Death Benefit: Amount of money paid out to a beneficiary after the policy holder dies

Living Benefits: Advance cash payment of part of a policy before the policy holder dies. Provides financial assistance to the insured before their death

Policy Holder: The person who bought or owns the life insurance policy

Rider: Can be purchased in addition to the life insurance policy to provide extra benefits to the insured

Term: The amount of time that the policy holder is insured

Underwriter: The person or company that decides if a potential policy holder is insurable

Now that you’re familiar with life insurance terminology, reach out to the team of professionals at Deluxe Insurance Group (Duluth) serving Duluth, MN to get answers to all your other questions!

Partner Carriers

  • AAA
  • Acuity
  • Badger
  • Concord
  • Foremost
  • Grinnell
  • Kemper
  • Main Street America
  • MetLife
  • Nationwide
  • North Star
  • Progressive
  • Ram
  • Safeco
  • State Auto
  • The Hartford
  • Travelers
  • Woodland