5 Reasons You Should Insure Your Collector’s Vehicle

Do you have a vehicle that could be described as a classic or collector’s car or truck? If this is the case, you’ll benefit from having a specialized type of insurance. Find out exactly what that means by talking to an agent at the Chester, NJ area agency, The Insurance Outfit. 

Here are reasons why you should get insurance for your collector’s vehicle. 

1. Since classic cars increase in value and other vehicles decrease in value, conventional auto insurance just won’t be enough for your collector’s vehicle. A policy that’s written specifically for such a vehicle will account for the current value of it, otherwise known as a guaranteed value. This is the amount that you and the insurance company agree on based on appraisals and valuations of your car. 

2. There is collector-specific coverage when you have a collector’s vehicle policy. It can include coverage for spare parts, auto show medical reimbursement coverage, and no attendance required, depending on what the agency offers. You also are likely to have coverage for most of what your average auto insurance policy gives you. 

3. Collector car policies usually have lower premiums than what you’d have with standard automobile insurance. This is in large part because most people drives such vehicles less often, and as a result, there is less of a risk of getting into accidents. Also, insurers assume that owners of classic vehicles take extremely good care of them. 

4. You stand a greater chance of being able to choose your own repair shop. This isn’t always the case with standard auto insurance.

5. Protect your treasured automobile with a policy that is geared towards certain events and circumstances which are associated with having a classic vehicle. You’ll be grateful that you did when you need it. 

Chester, NJ owners of collector’s vehicles will appreciate the professionalism and care that goes into the work done at The Insurance Outfit. Reach out today if you have questions or concerns. 

Why is having wedding insurance a good idea?

Getting married is one of the momentous and exciting moments in someone’s life. At the same time, a wedding in the Chester, NJ area can be very expensive and could come with some liability risk. Due to this, having the right insurance in place to provide necessary coverage and protection is important. A wedding insurance plan offers valuable coverage that can help anyone preparing for their big day. 

Liability Insurance 

An important reason to get a wedding insurance plan is to receive liability insurance. Weddings can be very fun but come with some liability risks, including any accidents that occur at wedding-related events. The best way that you can mitigate these risks is by getting proper insurance. A wedding insurance plan will offer liability protection that can be built to cover any events connected with your wedding. Some wedding venues will require you to take out this policy. 

Cancelation Insurance

Weddings come with a lot of expenses, which could require significant deposits. If you do not have the right insurance, you could lose all the money that you have spent if the wedding has to be canceled. If you get a wedding insurance plan, it is going to give you the coverage needed to be reimbursed for your incurred costs if you have to cancel the wedding for a covered situation. 

Ultimately, anyone in the Chester, NJ area and getting married should get a proper insurance plan. Those that are looking for wedding insurance here should call The Insurance Outfit. There are many choices to make when looking for wedding insurance overage, and The Insurance Outfit can help clear it up for you. This can ensure you are fully covered and prepared for a variety of risks, which will allow you to relax and enjoy your big day. 

How Special Events Insurance Can Protect Your Next Corporate Event

Special Events insurance provides protection for corporate events just as it does for weddings and graduation parties. This flexible insurance policy helps you protect the investment your business made in its team-building weekend or awards banquet. The Insurance Outfit wants you to understand how this insurance protects your financial investment in your event whether you hold it in Chester, NJ or its surrounding areas.

What you might not know about this type of insurance is that most venues require you to obtain it before the event you host on their property. They do obtain their own insurance, but they do not want to have to use it. They contractually require you to secure commercial general liability insurance. This type of event insurance protects you from lawsuits that could wipe you out due to trip and fall accidents or other injuries incurred at the event. So, whether you hold an event at Cooper Mill Black River County Park or Hacklebarney Farm Cider Mill, you need event insurance.

Another type of event insurance protects you from needing to lose your deposit or reservation money when your event becomes rained out or snowed out. Other perils that can also cause problems this insurance covers. If a fire damages the venue or a key speaker becomes ill, the event insurance pays for the losses.

Contact The Insurance Outfit serving Chester, NJ to learn more about event insurance and how you can protect your investment in your next corporate event. Our event insurance policies can help you protect your investment in your corporate retreat, awards ceremony, or other events. Call or visit our website to learn more about how we can help you protect your financial investment in your corporate special event.

4 Benefits of New Jersey Motorcycle Insurance

While you enjoy Chester, NJ roads with your bike, you need motorcycle insurance from The Insurance Outfit to safeguard your adventurous spirit. Here, we will assist you to hit the road with confidence without worrying about accidents and other mishaps. If you are about to purchase motorcycle insurance in NJ, below are the benefits you will accrue. 

Compliance with the law

New Jersey requires motorcyclists to carry insurance when riding on public roads. Failure to ride with motorcycle insurance may result in fines ranging from $300 to $1,000. Other fines and penalties include license suspension, community service, and jail time. 

Asset protection

While New Jersey requires motorcyclists to maintain liability coverage, this insurance doesn’t protect your bike. It covers bodily injury and property damage to third parties. However, when you have comprehensive and collision coverage in your insurance, your insurer covers the repair and replacement of your bike following an accident.

Covers third party costs

When you are involved in an accident, losses don’t occur to you only. You can cause bodily injuries and property damages to other motorists and road users. Thankfully, if you have motorcycle insurance, the liability coverage pays for third-party costs up to your coverage limit. 

Medical payments

While the thrill of riding your bike is second to none, motorcycles can lead to catastrophic accidents. Whereas protective gear like helmets and other protective clothing help to keep you safe, bike accidents can still lead to severe injuries, including broken bones, whiplash, head injuries, and bruises. Without health insurance, you would incur significant out-of-pocket medical expenses.

Since the no-fault insurance law doesn’t apply to motorcyclists, riders without health insurance should seriously consider PIP or MedPay coverage.

Buy NJ motorcycle insurance today!

Are you shopping for motorcycle insurance in Chester, NJ? Look no further than The Insurance Outfit. We understand that no one-size-fits-all motorcycle insurance. As a result, we provide customized motorcycle insurance to cater to many needs. 

Safety precautions to take when boating alone

Safety precautions to take when boating alone

For most boating enthusiasts in Chester, NJ, it’s not always possible to have someone to sail with. But that doesn’t mean boating shouldn’t be fun. Boating alone requires some rigorous boating safety regimen and good seamanship. Things change quickly in water, and any slip, nearby vessel or harsh weather can send you overboard, with no one to rescue you. The insurance Outfit recommends having adequate boat insurance and skills and tools to help you stay safe. Here are some of those precautions:

Always wear a life jacket

Safety begins with small things such as wearing the right water gear. Go for a great life jacket whether boating alone or with the company, such as an automatic inflatable suspenders-style jacket, which does not interfere with your boating activities.  That means you can wear it throughout the day.

Make sure your boat is seaworthy

It’s also worth checking your boat before you begin any boating activity. Make sure it’s in tip-top condition before entering the water. Some of the areas to check include; anchor light, leaks and holes, and other boating equipment.

Always have a change of clothes and supplies onboard

You never know what could happen while you’re out there alone. In case you slip and fall into the water, your life jacket can help you get back on board, and a pair of clothes can be a lifesaver. Similarly, if something happens, maybe the weather changes, and you are unable to go back to your starting point in Chester, NJ, some food, flashlight, blankets and other supplies can be beneficial, especially if you may have to spend the night out there.

Don’t forget about boat insurance; you, your passengers, and your boat need it. If you don’t have one, our insurance agents at The Insurance Outfit can get a customized policy just for you. We are just a call away.

4 Reasons You Should Buy Umbrella Insurance

Here at The Insurance Outfit, we get these questions from our Chester, NJ clients: Do I need umbrella insurance? What does it cover? If you would like to understand more, please stick on as we navigate the ins and outs of umbrella insurance.

What is umbrella insurance?

Umbrella insurance is the extra liability protection designed to protect you from significant claims exceeding your current insurance plans. It takes over when your auto, boat, or home insurance limits are exhausted.

Most people assume that umbrella insurance is for the wealthy. While that statement is partly true, umbrella insurance is apt for anyone earning a livelihood. To that end, you should buy umbrella insurance for the below reasons. 

Claims can be expensive 

If you own a pet, boat, or vehicle, you are taking many risks if you are carrying inadequate insurance. Assume you are involved in a significant car accident, and you are at fault. Yes, you might have the minimum state-required liability coverage, but it isn’t enough to cover the arising property damage and medical costs liabilities. What’s next? If you don’t have umbrella insurance, you may find your assets and future earnings on the line. 

You could be sued

Unlike your typical liability coverages, umbrella insurance protects you against claims of libel, slander, and false arrest. 

You interact with people

Are you or your family member in the online space? With the growing popularity of social media, a post or a tweet can land you in a legal disaster. When faced with legal suits of defamation or slander, the cost of defense alone can cost you tens of thousands of dollars. Add the settlement costs, and you can see how legal suits can ruin your life if you don’t have umbrella insurance.

It’s affordable

Unlike popular misconceptions, umbrella insurance is surprisingly affordable. You don’t believe it? Talk to us, and see how affordable umbrella insurance can be.

Would you like to purchase umbrella insurance? Give us a call today at The Insurance Outfit in Chester, NJ. Our team will help protect you and your loved ones at an affordable price.

3 Questions to ask when purchasing health insurance

Health insurance renewal time is one of the most stressful times of the year. Whether it is your first time choosing or you are a seasoned veteran, you know your healthcare for the coming years rests on a decision you are going to make. Before you make this crucial decision, there are three questions you should ask your agent so you won’t spend a year regretting your choice. In Chester, NJ The Insurance Outfit are dedicated to providing personalized service to all of their customers. 

Is my doctor in your network?

Every insurance company has a network. These are providers who have a contract with the insurance carrier to provide certain services at agreed-upon prices. That is how your insurance can tell you what it will cost you to for example visit your primary care physician. Not every doctor takes every type of insurance. There can be many reasons for not participating in a particular network but if you have a doctor you love, you must make sure he is in the network for any health insurance you are considering. 

Are my prescriptions in your formulary?

The formulary is the listing of the drugs that are covered by an insurance policy. It lists alphabetically and places them in tiers. The different tiers have different copays. If you have prescriptions you need, it is important they not only be in the formulary but be affordable.

What is the policy deductible?

The policy deductible is the amount you must pay out of pocket before your policy coverage kicks in. High deductible policies are the most affordable but if you need coverage, you may have to wait quite a while to meet the deductible. 

At The Insurance Outfit in Chester, NJ, we are an independent agency and if you are looking for health insurance, we are here to help you make the right choice.  

Pre-existing Conditions and Long-Term Care Insurance

You can obtain long-term care insurance if you have a pre-existing condition, but you may need to shop around for an underwriter, says The Insurance Outfit. What situations make it tougher to obtain coverage?

Typically, if you have an issue with any of the six essential activities of daily living, you will find it tough to obtain LTC insurance. The six activities include:

  • Bathing
  • Continence
  • Dressing
  • Eating
  • Toileting
  • Transferring

LTC coverage pays for in-home care in Chester, NJ to assist with these items and most insurance companies do not want to extend coverage for items with which you already need help. If you use a walker, have a diagnosis of Alzheimer’s, Parkinson’s, or certain cancers. You could also get declined if you participate in two lifestyle choices that combined increase your chance of developing a chronic condition. For example, a smoker who also overeats and has a weight problem who has diabetes would probably receive a declination for coverage. Simply having a diagnosis of diabetes does not mean getting declined. The individual’s lifestyle and disease management contribute to their acceptance or declination.

You should meet with your insurance agent to discuss your situation. They can determine which underwriter would most likely insure you. You should start with the most likely company since other companies will often refuse you once one company declines you.

A pre-existing condition can affect your premiums. A diabetic may pay a more expensive premium than an individual with no diseases. The insurance company’s underwriter calculates each potential premium based upon risk. A healthy person presents less risk than an individual who already has a diagnosis of a chronic condition.

Contact The Insurance Outfit serving Chester, NJ to learn more about long-term care insurance. Let us help you obtain the coverage you need.

When to review your life insurance coverage

Life insurance is less expensive when you are young and healthy than it is later in life. If possible it is best to get whole life at this point in your life. Term life could possibly run out of term just when you need it and when you are older and it costs more. But even if you do get insurance when you are young, you can’t just sit back and never think about it again. You need to review it and decide whether it is adequate for where you are in life. At The Insurance Outfit in Chester, NJ, we believe every client deserves to have a dedicated professional they can count on. 

When you change employment

Many people have life insurance as a benefit of their employment. Hopefully, it isn’t the only life insurance you have but it can supplement your own nicely. If you have used this insurance as an excuse not to purchase more of your own, it is time when you change employers to consider what you want to do. You may be able to keep your current policy by taking over the payment for it and it may or may not be worth doing so. 

When you purchase a home

Part of the value of life insurance is to pay any debt you may have at the time of your death. If you have a mortgage, you should have enough life insurance to pay it off so you don’t leave your loved ones with the stress of trying to figure out what to do about it. 

When you get married

Having a spouse and perhaps an eventual family changes your need for life insurance. This is the perfect time to sit down with your independent agent and discuss the amount of coverage you should have. 

Contact The Insurance Outfit in Chester, NJ for all your insurance needs. 

Commercial Insurance Must-Haves for New Jersey Business Owners

Today’s business owners in the greater Chester, NJ area turn to The Insurance Outfit for all of their commercial policy needs. We are proud to provide the business community with the coverage they need to protect their companies. Call us today if it’s time to upgrade your commercial policy!

Does your current commercial policy have these features?

Oftentimes, businesses start out with basic coverage as they work to get their companies off the ground. However, it is important to note that established firms may have different protection needs than those companies that are just getting started. Why not take a closer look at your current policy and ensure that it provides the protection you need?

  • Coverage of equipment and inventory – some business owners are surprised to learn the value of their inventory and equipment; make sure that your coverage levels are adequate in case of a loss.
  • Comprehensive vehicle protection – does your firm rely on your fleet of vehicles to get the job done? Make sure that your company has the necessary protection in the event of an accident or theft.
  • Robust property coverage – damage to your property can cause potential disruption to your workflow. With robust coverage, your business is better able to withstand interruptions to company production. 

Is it time to review your commercial policy? We can help! Don’t find out too late that your basic commercial insurance is inadequate for your comprehensive business needs.

Contact us today to ensure that your coverage is adequate to your business needs

The Insurance Outfit is here to assist business owners in the greater Chester, NJ area with all of their coverage needs. Contact us today and learn more about the commercial policy options that are available in our area.