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. 

Boats are a great recreational vehicle but without the right coverage, they can be very costly. For those that do have a boat, having a great boat insurance policy in place is the best way to make sure you are covered no matter what. For those that live in or around the Chester, NJ area, the agents with The Insurance Outfit can help you find the policy that fits your needs.

So what does boat insurance really cover? For starters, it covers damage to your boat as the result of an accident, be it a collision with another boat, the damage that occurs while hauling, or even damage from hitting inanimate objects like buoys. Boat insurance also covers personal injury that occurs on your boat as well as injury to your passengers.

Much like your home insurance policy is going to protect your home from damage and disaster, your boat policy is going to do the same thing. Say for instance your boat catches on fire, either in the water or in your garage, your insurance will cover the cost of repair or replacement if the boat is totaled dependent on the policy that you have.

Overall, boat insurance is a great thing to have not only to be safe but also to help protect your investment when you are out enjoying the warm rays of the summer sun. Generally, boat insurance is only required for those watercraft that do have a larger engine, your fishing boat does not require insurance for instance. For those that live in the Chester, NJ area and own a boat, the agents with The Insurance Outfit can help you find the perfect policy to protect both you and your boat this summer and all year round no matter what.

Long term care insurance can be easily confused with health insurance for many people. But did you know that the two are considered as very different insurance policies? Here at the Insurance Outfit in Chester, NJ, we’ll help you take a look at the main differences between the two types of plans. 

Different Coverage for Different Needs

Health insurance helps cover your day to day doctor appointments, prescriptions, and acute emergency medical costs. Long term care insurance, on the other hand, covers your expenses if you cannot work as a result of the injury. This special kind of insurance is designed to bridge the gap while you are recovering and unable to work. It can help you continue to receive your paychecks and make ends meet if the disability is temporary or permanent. In other words, think of long term care insurance as your disability insurance. Medicare provides long term care insurance, for example.

Skilled nursing at home and in nursing care facilities is expensive, as the annual prices can rise up to $88,000 a year. Long term care insurance can help alleviate the financial burden, however, so it’s certainly worth looking into. It can also help cover for things like hospice care if it’s needed down the road. 

The Right Coverage When You Need it the Most

As always, check the details in your policy’s terms first to find out what it gives you coverage for. It’s a good idea to consider additional insurance riders to fill in the gaps that your current policy doesn’t cover. For questions about riders and additional details in your policy, contact us at The Insurance Outfit in Chester, NJ. Our friendly and knowledgeable staff is happy to assist you to get what you need!

Many Chester, NJ residents have asked us at The Insurance Outfit about disability insurance and whether or not it covers mental health problems. Thankfully, we’re here to say that it will help you. However, you need to qualify for it and apply properly.

Problems It Covers

There are many different types of mental health problems that disability insurance will cover. These include schizophrenia, anxiety disorders, depression, bipolar disorder, autism, substance abuse disorders, and even mental development problems. Coverage for these types of problems are based on their severity and whether or not they make it impossible for a person to work. Even a person of normal or above-average intelligence can qualify if their mental health concern is severe enough to make it impossible for them to work.

Other Circumstances Can Qualify

One interesting aspect of mental health disabilities that few understand is how they can help those who cannot handle unskilled work. For example, someone who has developmental impairments or anxiety about performing menial labor may qualify for disability insurance. However, they do need to fill out a special form that details their mental health limitations and why they deserve coverage.

A person who has debilitating mental problems need to have a diagnosis from a trained professional and a guardian who can help them understand what is happening. It may require them to talk to a lawyer or someone who understands these types of problems. That said, if you or anyone you love has these conditions, they more than qualify for disability benefits and insurance.

Get Coverage Today

So if you or someone you love has a mental health problem in Chester, NJ and needs disability insurance, contact us at The Insurance Outfit today. We can provide you with the skilled help you need to get the coverage and benefits you deserve.