How to Improve Your Boat Safety This Summer

When summer starts to roll around this year, it’s easy for boat enthusiasts to get excited about the warmer months. But just because you haven’t been on the water for a little while doesn’t mean that the water has gotten any safer. See how you can better your odds this year from The Insurance Outfit if you’re hoping to have a steady season without any drama. 

Plan and Plan Again 

The best way to keep yourself from a potential disaster is by putting in the time before you ever set sail — either literally or figuratively. So make sure you have your boat thoroughly checked out by an expert before taking your family out. Even brand-new boats have a tendency to atrophy when they’re not in use, so never assume that your boat is in the same shape it was when you first put it away. You should also have a set emergency plan that should be practiced at least a few times before starting the season. The more repetition, the more likely it is everyone will follow the plan, even if they’re in a panic at the time. 

Get Better Insurance 

A boat is a huge investment for anyone in Chester, NJ, so it helps to have the proper amount of coverage before doing anything else. From liability claims to general scrapes and dents to criminal activity, there’s no need to take a chance on either your life or your property. If it’s important to you to keep your boat in tip-top shape, it’s time to give The Insurance Outfit a call for additional information on a policy that works for you. We can help the people of Chester, NJ keep their boats safe whether it’s on the water, in the dock, or in dry storage. 

Possible Health Conditions To Consider When Shopping For Long Term Health Coverage

If you have heard about long-term health insurance, perhaps you have been considering protecting yourself with this type of coverage, but are unsure what it covers. You may also wonder what it does and what circumstance it is designed to assist policyholders with later in life.

Coverage

Long-term health insurance is designed to cover expenses that are not covered by traditional health insurance such as long-term inpatient care for conditions such as Alzheimer’s and Parkinson’s. These types of medical conditions may require specialized care outside of the home. In those cases, the financial burden can be extreme if there is not a long-term health insurance policy in place. Situations that require a person to need assistance with tasks such as toileting, dressing, and getting around are covered by your long-term health insurance policy.

Don’t Wait For A Situation To Occur

Before you develop a condition that requires extensive care and assistance, you should gather more information about long-term health insurance and begin the process of purchasing a policy that will protect you in the future. Debilitating conditions can occur at any age, so be prepared and protect your financial health today. People living in and around Chester, NJ, The Insurance Outfit is ready to assist you.

If you live in Chester, NJ, The Insurance Outfit can help you by providing long-term health insurance designed to protect yourself against financial hardship in the future as a result of a chronic, debilitating condition. Please call or stop by to get started with your policy and to answer any questions you may have about coverage and conditions.

Will my homeowners insurance cover my jewelry?

Your homeowner’s insurance policy in Chester, NJ protects you from loss in case of a house fire, burglary or other unforeseeable circumstances. Knowing you have protection through The Insurance Outfit gives you peace of mind, because you know that if anything happens you will be taken care of.

A standard homeowner’s insurance policy covers the property itself, appliances and your personal possessions, like clothes. It may also cover some other losses, like liability if you are sued. You should feel comfortable with your payment and deductible, while still having enough coverage so that you do not suffer in case of a loss.

However, your jewelry may have limited coverage under your homeowner’s policy. Depending on the jewelry, it may be very expensive or one-of-a-kind. Items such as jewelry, electronics, collectibles and other kinds of items  If an item is very rare or valuable, it may exceed your policy limits. 

You also need to make sure that the reason for your loss is covered under your policy. While many specific situations are covered, such as windstorm, pipes freezing, volcanic eruption or theft, many policies have exclusions, such as losses due to flooding. You may also have a problem if you simply misplace or lose your jewelry, and that event is not specified in your policy. The most important thing is to understand your contract, and speak to your agent if you have any questions.

You can still get extra protection for your jewelry. In New Jersey, you can add more coverage by Endorsement. This is also called a Floater, or a Rider. If you are in Chester, NJ and want to discuss your options for adding coverage through The Insurance Outfit, please feel free to call any time to speak to one of our agents. 

What Are the Benefits of Buying an Umbrella Policy?

Here at the Insurance Outfit, serving the greater Chester, NJ area, we have found that many individuals do not know what umbrella policies are. As such, they do not purchase them. This can wind up costing them a lot of money. Learning the benefits can help you determine if buying this type of policy is ideal for you. Here are a few of the benefits of buying an umbrella policy. 

Offers More Protection Than Your Policy Alone

The biggest benefit to an umbrella policy is that it offers more protection than your policy alone offers. An umbrella policy is an additional policy that offers policy limits above and beyond what your standard auto, home and commercial insurance policies offer. If you are ever sued or involved in litigation and the expenses surpass your policy limits, the umbrella policy kicks in, to help protect you. 

Is Applicable to Different Insurance Policies

Another benefit associated with an umbrella policy is that it is applicable to the different types of insurance policies you have. You buy one umbrella policy and it covers all of your other policies. 

Protects Your Assets

The last benefit to an umbrella policy is that it helps to protect your assets. When your insurance coverage is exceeded, an individual can go after your personal assets to cover any judgment or award they are granted. The umbrella policy offers added coverage, helping to protect your assets. 

If you are looking to purchase an umbrella insurance policy to supplement your home, auto and/or commercial policies, contact The Insurance Outfit, serving the Chester, NJ area, today. We can help you determine what policies levels are right and select the right type of umbrella policies to fully cover and protect you in the event of a lawsuit. 

Chester, NJ Means Commercial Insurance Options

Businesses looking for commercial insurance in Chester, NJ want options, and they can find those options in several different ways. One of the ways is to contact a lot of different companies to get quotes and information. While that works, it is not necessarily the most beneficial or the best use of their time. Instead, it is generally better to reach out to The Insurance Outfit and get multiple quotes on commercial insurance in one place. All insurance plans are not created equal, and knowledgeable agents are needed to provide a business owner with the best fit for their company.

When it comes to getting commercial insurance, businesses should consider not just the policy limits but also what is covered. A company that has a large manufacturing plant will have very different insurance needs from a two-person company that operates from a small office and works mostly through computers. While they are both businesses in need of the protection that commercial insurance can offer, they do not have the same types of insurance needs in that their protection levels and types are going to be very different. By working with an established and trusted company, businesses can get the insurance they really need so they have enough coverage but nothing unnecessary.

Fortunately, The Insurance Outfit understands the value of knowledgeable agents and the right level of commercial insurance coverage for its Chester, NJ customers. By reaching out to them for an insurance quote, businesses can get information from several insurers all in one place. Then they can work with the agent to pick the one that is going to be the best for their particular type of business. That can give them peace of mind, and help ensure that they will be protected when and if they need to use that coverage.

All About Jewelry Insurance

It’s pretty normal to experience some excitement whenever you acquire a new piece of jewelry. It can be intoxicating getting caught up in the sparkle, the beauty, and the feeling that comes with wearing new jewelry. But there is also the less interesting part, where you begin to worry about what might happen to your new acquisition. The Insurance Outfit in Chester, NJ provides jewelry insurance coverage to protect your expensive jewelry from risks of loss, theft, or damage. You already spent a fortune acquiring your jewelry, so ensure that if anything goes wrong, your jewelry can be replaced or fixed.

What Kind of Jewelry Should Be Insured?

It is recommended that you insure any and all jewelry pieces that you feel are of value to you. The term “value” in this sense does not necessarily imply cents and dollars, as it may also imply emotional value. As such, this can mean anything from custom-made pieces, watches, family heirlooms, and even wedding jewelry. With the proper coverage, you will be able to have the pieces replaced or repaired in case of any eventuality.

Jewelry Insurance: How Does It Work?

The policy works the same way as your other Chester, NJ insurance policies. Given that it has been specifically designed for jewelry, it generally covers more than your renters or homeowner’s insurance policy. An appraisal must, however, be conducted to determine its value. The main purpose of the appraisal is to make you and the insurer certain that in the event that a replacement or repair has to be carried out, you will have enough coverage for it.

You are welcomed to visit any of our offices for more information on jewelry insurance. Our agents at The Insurance Outfit will be able to address any concerns you may have regarding this kind of coverage. 

How Much Umbrella Insurance is Enough?

If you have ever gotten drenched from a rain shower that came from nowhere, then you understand how important it is for preparedness in the face of the unexpected. Umbrella insurance offers protection similarly by picking up in coverage where your homeowners or auto insurance policies end. It goes above and beyond your essential liability protection by stretching coverage by millions of dollars. Umbrella insurance protects you from the claims of property damage or bodily injury made by others. It even covers you if you were to get sued for any of these listed below:
  • mental anguish
  • slander
  • malicious prosecution
  • false arrest
  • libel
There is an adage that says, "When it rains, it pours." Therefore, umbrella insurance like the coverage available with The Insurance Outfit in Chester, NJ might prove beneficial and worth considering. 
 
There is no exact formula which can reveal the right amount of insurance you need. As with any insurance decision, the correct amount of coverage depends on your risk tolerance. You cannot know how much you will get asked to pay if involved in an accident and harm a person. However, to calculate the amount to purchase, look at how much you stand to lose should the unfortunate take place. Therefore, considering your net worth is an adequate starting point. 
 
To calculate your net worth, you should start by totaling the amount of everything you own, which includes retirement and bank accounts, investments, and your home. From that amount, subtract any debts or liabilities you have at present. The figure you end up with is your net worth. It also shows what umbrella insurance limits or liability coverage you should consider. Another factor to view in your calculations is your expected and current income. For a general rule, limits should get set high the more income you have or plan to have. 
 
Contact The Insurance Outfit in Chester, NJ for more answers and to discuss umbrella insurance options.

How to Determine If a Life Insurance Offer Is a Scam

Picking the right life insurance policy is a major decision that shouldn’t be taken lightly. It’s a policy that requires decades of commitment, which is why most people enlist the help of a financial advisor or insurance agent for assistance. However, sometimes there are some people who try to push bad, or potentially illegal, plans on you. Read on to learn how to spot scam offers, or you can contact The Insurance Outfit, which serves Chester, NJ, to deal with a reputable company that has your best interests at heart.

Requesting You to Inflate Your Net Worth

A reputable insurance agent will never ask you to overstate your net worth. Scam artists do this so that you can get a bigger policy than you need, which results in larger commissions for them.

Watch Out for Annuities for the Elderly

It’s common for life insurance companies to sell annuities, which invest your payments and offer you an income stream after a set period of time. Annuities themselves aren’t bad or a scam, however, some advisors try to sell annuities to seniors who are already in retirement. This leads to the seniors not having access to a large number of their retirement funds, while the financial agent receives a hefty commission.

Watch Out for Stranger-owned Life Insurance Policies

Stranger-owned life insurance is when someone who doesn’t have an insurable interest in a person has an insurance policy on said person. Some untrustworthy salespeople offer to buy a life insurance policy from someone, usually in exchange for a lump sum of cash. The problem with this is that the person buying the policy almost always receives much more money from the policy than they’re paying out, and in some cases, they’re taking money away from family members who may have been under the impression that the life insurance policy was put in place to help them after the loss of their family member.

For a quote from a reputable company that you can trust, contact The Insurance Outfit, which serves Chester, NJ.

Insurance for Jewelry and Other High Value Items

Home owner’s insurance is a no-brainer, but do you also have a Personal Articles rider to cover jewelry and other high-value items? The Insurance Outfit in Chester, NJ has everything that you need to ensure that all of your possessions are adequately covered, in addition to the assets covered by your home owner’s policy.

Many consumers are not aware of the value limits that are included in the typical homeowner policy and are unpleasantly surprised at the time of loss. If you have personal items that exceed the item reimbursement amount of your home policy, let us help to make sure you have the coverage you need.

Jewelry Insurance and Coverage for Other High-Value Items

Are you aware of the value limit that is placed on single items covered in your home owner’s policy? Most policies limit the amount of reimbursement for loss or damage to a single item. If you have expensive jewelry and other personal items such as electronics, artwork, or specialized sports or hobby equipment, a Personal Article rider is likely necessary.

Protecting jewelry is imperative as these items are popular targets for theft. Additionally, most jewelry has sentimental value, and while this cannot be covered, receiving an adequate monetary reimbursement in the event of theft or damage can help to ease the pain of the loss.

The Insurance Outfit is proud to serve the greater Chester, NJ area and would welcome the opportunity to work with you. Please give us a call today at (908) 955-7561 to set up an appointment to review your jewelry coverage. If you possess a lot of high-value items, a rider to your home owner’s policy is likely necessary and we are here to make sure you have the comprehensive coverage that you need.

How Can Umbrella Insurance Protect Your Interests?

Umbrella insurance provides liability protection above and beyond the limits of your home, auto or boat insurance. This extra protection can safeguard your assets from a major lawsuit or claim. With umbrella coverage you also get protection against false arrest, slander, libel and liability claims on rental property you own. Here are a few ways umbrella insurance from The Insurance Outfit, Chester, NJ, can protect your interests.

Protects Current Assets

If you live an active lifestyle or travel extensively, you’re at greater risk of causing an accident, either at home or on the road. A pool party for your children could turn into a disaster if a neighborhood child suffers complications from a near drowning. An autumn road trip could have serious repercussions if you’re held liable for a major accident on the road.

Without umbrella coverage, you’d be responsible for paying damages that exceed your auto or home insurance limits on your own. These expenses could cut into your personal assets such as savings or retirement funds. You may even have to mortgage your home to meet these financial obligations.

By purchasing umbrella coverage, you need not worry about depleting your assets to pay for large liability claims that may arise.

Protects Future Earnings

Umbrella insurance protects you against lawsuits that could deplete your current assets and affect your future earnings. Lawsuit settlements can range anywhere from a few thousand to hundreds of thousands of dollars. Without umbrella coverage, you could have future earnings garnished to help pay for settlement costs.

Umbrella insurance protection starts at approximately $1 million and can extend as high as $5 million, depending on your policy. Umbrella policies are also affordable, making them a practical insurance option. To learn more about umbrella insurance, coverage and costs, contact a local agent from The Insurance Outfit, Chester, NJ.