Found below are answers to common concerns and questions that customers have frequently asked.
What auto coverages do I need?
Car insurance is required by the NJ/NY area. The best auto coverage is based on your financial situation. The basic amounts included are for individual bodily injury $15,000, the max per accident is $30,000 and a max of $5,000 payout for property damage. You can alter these amounts listed above for more coverage and protection. You should also consider buying liability, collision, comprehensive and uninsured motorist coverage as well.
Will purchasing a brand new vehicle have an effect on the insurability and cost of a policy?
Yes, it costs more to replace a new car than an old car for collision and comprehensive coverage.The model and make of a car has a large factor in determining how much you will pay to insure it each month.
My family is expanding! What coverage should I consider now?
You should consider altering your current life, health, and disability insurance. You want to be able to protect your family income in order to help your family prosper and be financially secure. Further review of your specific situation will determine your needs.
I'm fresh out of college and entering the workforce. What coverage do I need?
Congratulations! You have worked hard to develop the skills and knowledge to pursue your career choice. The major policies you will need are health, auto, life, disability, and potentially renters insurance. While you may be thinking I don't need health insurance, I'm not sick, you should not pass this insurance up as you don't want potential debt from medical bills to haunt you. Next, auto insurance is mandatory in the NJ/NY area. Check if you already have it if you currently own a car. Like health, disability insurance is very important. If you become disabled or cannot work, who will pay your bills? Consider both short and long term disability. Depending on your occupation, you should look into available benefit packages offered to you. Sitting down with an agent to further review your current situation will help clarify any remaining questions you have.
I have a home based business. What coverage do I need?
Having insurance for your home based business is a smart decision to keep your family safe and not at risk. Your type of business would determine the policy you need. A rider to a homeowners or renter's policy would be for a smaller type business composed of one or two people. An in home business policy offers a broader spectrum especially if individuals are entering or leaving your business premises. Also, a business owners policy protects against higher amounts if you are dealing with larger sales. As your company grows you may need to reconsider the coverage.
Why do I need life insurance?
If someone in your family such as your spouse, children, or parents will suffer a financial loss when you pass, chances are you need a life insurance policy. You need to consider both long term and short term needs by asking yourself the following questions: How many people depend on your income? How much money would your dependents need to maintain their living expenses? Do you have a succession plan should something happen to your business? Will you owe taxes or debts after your death? By purchasing a life insurance policy it will help your family meet many financial needs such as college funding, funeral costs, etc. when you are no longer here. If you already have an existing policy, you will want to review it with an agent to check if it is meeting your current needs.
Is auto insurance necessary? What happens if I don't get auto insurance?
IN NJ/NY it is the law to have car insurance. Therefore, if you are caught without it, there are multiple consequences. If you get a ticket, you'll have fines and penalties and incur an additional fine for driving without insurance. Also, if found driving without car insurance, your license will be suspended and car potentially towed until you provide proof of insurance. If an accident occurs and you are found to be at fault, you'll likely be held responsible financially for the other driver's expenses. States are really cracking down on drivers being on the road without car insurance, so don't be careless or irresponsible with purchasing auto insurance.