CALL US:
651.633.0408
TEXT US: 651.565.7258
deanolson@aibme.com


Winter 2017 Newsletter
 

 

Dean Olson

3570 Lexington Ave N #201
Shoreview, MN 55126

651-633-0408 | deanolson@aibme.com 

deanolsonins.com

 

 
 

 

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Imagine how devastating it would be to lose your home in a fire. Now imagine not being able to rebuild it completely because you didn't have the correct amount of insurance.

 

Selecting the proper amount of coverage is the single most important decision you can make with your Homeowners policy. Without it, you may not have enough coverage to rebuild after a total loss. This is called "insurance to value." Below are some explanations and tips to help you make the right choices for your needs - and remember, if you need help, I'm just a phone call away!

 

What is insurance to value?

Insurance to value is the relationship between the amount of coverage selected (typically listed as "Coverage A" or "Dwelling Coverage" on your policy declarations page) and the amount required to rebuild your home.  Insuring your home for anything less than 100% insurance to value could mean you wouldn't have enough coverage to replace your home in the event of a total loss.

 

Why is the cost to rebuild different from the market value?

A home's market value reflects current economic conditions, taxes, school districts, the value of the land and location, and other factors unrelated to construction cost.  The cost to rebuild your home is based only on the cost of materials and labor in your area.  It is important that you insure your home based on its reconstruction cost, NOT its current market value.

 

Why is reconstruction more expensive than new construction?

New-home builders typically build many homes at once, and solicit bids from various sub-contractors to receive the best pricing. Their business model is based on economies of scale. For example, they may purchase 20 bathtubs at once, securing a lower unit cost. These economies of scale don't exist when building a single home.

 

How can I make sure I have the correct amount of insurance?

Work with your agent to provide detailed information at the time of purchase to be sure that you receive a thorough and accurate quote. 

Ask us about additional coverage options that may be available.

Review your insurance to value calculation on a regular basis with your agent.

Tell your agent about any changes or improvements that you make to your home. 


 

 

With winter weather upon us, it's important to check the fluids in your vehicle. Learn the basics with this short video from Progressive.

We'd be honored to work with your friend or family member. If you know anyone that needs an independent agent on their side, please have them contact us, or send us their info

 

 

 

 

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 Dean Olson
 651-633-0408

The greatest compliment is a referral. If you know someone who could benefit from my services, please send me their information or have them contact me.
 

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Our Location

Dean Olson Insurance Agency

Dean Olson Insurance Agency

3570 Lexington Ave North Suite 201
Shoreview, MN 55126
Main office: 651-633-0408

Our Providers

“I never doubt Dean's integrity, meaning he is working to find the best product that meets my needs at the best price.”
Mary Daniel
“Dean is always quick to respond and offer the most helpful advice! I know he is always looking out for our best interest!”
Nicole Demuth
“Dean, you are thoughtful about the policies you offer. They make good sense for my needs. You also provide outstanding service. Lastly, you are very personable and a pleasure to work with.”
Louis Tschudy
“When we unexpectedly had a problem with our auto coverage, it was very helpful to be working with an insurance broker who had experience and knowledge of multiple insurance companies. Dean was very thorough and worked with us on a tight timetable, following our move to the area.”
Ross Johnson
“Dean has always been very good with all our insurance needs always gets us the best price possible and takes his time talking with us always prompt getting back to us.”
Glenn Swanson
”Dean takes the time to explain complicated insurance issues in plain language. He learns about your individual situation and helps you to pick the insurance that's right for you, and that something you can't get from a website or an app.”
Conrad Workman
“Newer customer who left American Family after 30 years due to service. Met with Dean and he reviewed my existing coverage and sourced multiple companies to find the better coverage and provide cost savings over my old coverage.”
Jan Aamodt
“I’ve learned more from Dean about insurance than I’ve ever learned before. He has patience to answer questions and I feel like he truly looks out for my best interest!”
Rhonda Gasiorowski
“For two decades we have been working with you on all our insurance needs. Always we have received timely service, great info and high quality product at a fair price point.”
Oliver Papp
“Dean has been easy to reach for questions, extremely kind and caring in explanations, and great about helping me with the best insurance options available.”
Michelle Horn
“Dean is always helpful. Always answers questions honestly and immediately always great advice.”
Mary Kappel
“You have always been available to answer any questions or needs we might have. You compared and found us the best cost effective insurance for our needs.”
Gary Savage
“I have recommended you to my son and others. Thanks!”
Stephanie Nustad