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. 

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. 

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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.

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.

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. 

Insurance is one of the most important things for anyone that wants to own or ride all terrain vehicles. When it comes to insuring these super fun machines, there are some considerations that need to be made. For starters, recreational vehicle insurance and ATV insurance, though they may seem similar, are actually not the same thing. For those in the Chester, NJ area, the agents with The Insurance Outfit can help you find the right ATV insurance for your needs.

ATV insurance is insurance that is specifically tailored for all terrain vehicles. Though recreational vehicle insurance does cover ATVs to a certain extent, it is not specifically geared toward ATVs and therefore may not be as comprehensive as you would need. For those that are riding only ATVs it may be beneficial to get specific insurance that only covers these machines rather than a broader insurance coverage that covers all recreational vehicles.

If you do in fact own more than one type of recreational vehicle, it may be beneficial to look at the broader policy in terms of coverage and being safe when out on the trails. ATV insurance is specifically designed to cover any events that may happen with your ATV rather than cover things like ATVs, 4 wheelers, and more.

For those that are looking for coverage, the main difference is going to be the specificity of the coverage that you are looking at. Though recreational vehicle insurance is going to cover ATVs, ATV insurance is not going to cover all recreational vehicles. This is a simple differentiation that the agents at The Insurance Outfit can help you decide if you live in the Chester, NJ area and are looking for the right coverage for you and for your ATV or recreational vehicle.

In Chester, NJ the agents of the Insurance Outfit offer a wide selection of insurance policies to cover all sizes and types of vehicles, including scooters and motorcycles. Motorcycle insurance works in much the same way as car insurance and has varying degrees of coverage. Before choosing the policy that’s right for you, it’s important that you discuss your needs with your agent so they can find the right policy for you.

Know Your Policy

Once you have purchased a policy make sure you read it carefully and understand everything it says. If you don’t, ask questions. A commonly asked question is "Does my insurance policy cover other riders?" This will depend on your policy. A general liability insurance policy will cover only the minimum and will most likely not cover your bike being driven by other riders. A full coverage policy, on the other hand, will cover additional riders if they carry the proper endorsement.

Endorsements

A motorcycle endorsement on your driver’s license means you have passed the written and skills test that shows you’re capable of operating a motorcycle on the road. Most insurance policies won’t cover a rider who hasn’t received their endorsement. If you allow someone to borrow your bike, it’s important that they have a current motorcycle endorsement on their license. If not, any damages or injuries they cause won’t be covered by your policy.

The agents at the Insurance Outfit in Chester, NJ encourage you to call their office and speak to one of their agents if you have any questions concerning motorcycle insurance. They can tell you what is covered and what limits are included in your policy. It’s important you evaluate and update your policy often to make sure it’s current.

Most people don’t buy an ATV just to let it sit in their garage. However, the more you use it, the more likely it is that something will happen to it. One of the most common nightmares for owners comes in the form of theft, but it’s certainly not the only danger that lurks out there. If you’re hoping to keep your ATV for as long as you can, see how you can take the precautions in Chester, NJ to keep it safe.

Prepare for Thieves 

It’s fairly easy for people to steal ATVs simple because they’re so portable. If you remove the valve stem, the tires will go flat so criminals can’t just roll the vehicle away. It will be annoying to have to refill the tires when they lose their air, but it’s far less work than having to replace it. You may also want to unplug the fuel pump, or slip a small padlock through the brake rotors (if you have them.) Or just buy a quality chain that you can use to anchor your ATV to a tree or a stable structure. 

Call The Insurance Outfit 

If you own an ATV in Chester, NJ, it’s worth making another investment to keep it out of harm’s way. All the anti-theft measures in the world can’t always save you from criminals, and they do nothing if the ATV is attacked by vandals or by a horrible storm that comes out of nowhere. Our staff is happy to provide quotes and information about how our policies can save your ATV from disaster. Give The Insurance Outfit a call if you want to get insurance that will cover your ATV is a number of situations.