Do You Need to Re-Evaluate Your Life Insurance Annually?

Life is consistently changing in the Mt. Ephraim, NJ area, and so does your life insurance needs. Like any investment, you want to give your life insurance some attention once a year to ensure it fits your current needs and to make certain your premium is at the lowest cost. 

Here are a few items to evaluate:

  • Your job status – changes like a promotion or demotion, a pay raise or pay cut can make a difference in the amount of life insurance you need. If your income has changed, then your life insurance may need to change. If your retirement date has shifted, then you also may want to change the policy term.
  • If your home mortgage has been a factor in your life insurance, then any changes to your mortgage need to be assessed. Maybe you’ve paid off your home, or perhaps you have a new vacation home. These items should factor into your life insurance.
  • Changes to your health need to be reported. If you’ve lost weight, reduced your cholesterol, or stopped smoking, these are all things you want to communicate. If you’ve had a chronic illness that has stabilized or you’ve been diagnosed with an illness, it’s time to re-evaluate your policy.
  • When you review your life insurance for the year and report any changes, it’s also a great time to explore life insurance policies for the best possible rate. Competition can lead to similar coverage at a lower rate.

Contact Marino Agency Inc.

The Marino Agency Inc. has been providing life insurance in the Mt. Ephraim, NJ area for over thirty years. Contact an experienced Marino Agency Inc. agent today to have your life insurance needs evaluated or to look into a new policy to protect your family.

Top 5 Mistakes to Avoid when Filing a Commercial Insurance Claim

Many business owners make costly mistakes when filing commercial insurance claims. Such mistakes may seem minor but can have serious consequences like delayed settlements or even denial. Here are the top five mistakes to avoid when making a business insurance claim in Mt. Ephraim, NJ:

Failing to Notify Your Insurance Provider Immediately

Immediately after an accident or a covered loss occurs at your business, the first step should be to notify your insurer. This is important for two apparent reasons. First, the insurance adjusters find it easy to assess and adjust the claims since the evidence is still fresh. Often, physical evidence and witness memories fade over time. Secondly, most commercial insurance policies have a condition of timely notice whenever an insured loss occurs, failure to which the claim may be denied.

Poor Documentation

Inconsistent record keeping can delay the processing of your claim. Always record the time, date, and statements of any witnesses or verbal conversations. Keep all the relevant documents in a single file for ease of access. Any emailed documents should also be printed out and filed. When you have verbal conversations with an insurance representative, be sure to send a summary of the conversation on email for recordkeeping purposes. Additionally, you can take as many pictures of the accident scene as possible as a proof of the severity of the loss.

Failing to Retain the Damaged Property

If a fire or other perils damaged property at your business premises, you might be tempted to discard it. Don’t do that. Instead, leave the property in its rusty status until an insurance adjuster has inspected it. However, if the item is insured under the commercial property damage, you’re obligated to protect it from further damage. For instance, if it’s a roof that is damaged by a windstorm, you can protect the building from further water damage by covering the blown part with some tarp or a similar material.

Failing to Notify the Police

Some commercial insurance policies require you to notify the police whenever a covered peril strikes, otherwise you’ll violate the terms of the policy. Read through your policy document to familiarize yourself with all the requirements. Vandalism is generally prohibited by law in New Jersey and every other state. So, most insurers will not take it lightly when you file a claim without first calling the police.

Paying Third-Party Claims from your Pocket

Some business owners are sometimes tempted to compensate third parties who incur minor injuries within their premises out of pocket. This can be a bad idea because of two reasons. First, injuries may seem minor at the time of the accident but can quickly escalate into major complications in the future. Secondly, many commercial insurance policies bar you from voluntarily making payments, incurring expenses, or assuming responsibility without the consent of your insurer. So, making payments to someone who may later file a claim or lawsuit against you will mean that your claim will be denied on the grounds of violation of insurance terms.

Avoid these five mistakes to quicken your insurance claim process. Remember that Marino Agency Inc. and every other insurer will go by the evidence provided on the ground. So, keep your documentation clear and begin the claim process as early as possible when the evidence is still fresh. Marino Agency Inc. provides affordable and effective commercial insurance policies in Mt. Ephraim, NJ and the surrounding areas. Contact us today for a quote.

Lesser Known Reasons to Purchase Renters Insurance

There are many reasons why you should consider purchasing renters insurance if you have not already done so. At Marino Agency Inc., serving the greater Mt. Ephraim, NJ area, we want to educate everyone on the importance of buying this type of insurance plan. As a renter, here are three of the lesser known reasons why you should consider purchasing renters insurance. 

Renters Insurance Covers You if You Are Displaced

If the home you are renting burns to the ground, floods, or becomes uninhabitable, renters insurance pays for you to live elsewhere for a period of time. This helps to ensure that you are not left homeless, couch surfing with friends, or paying for an expensive hotel in the event of an emergency. 

Homeowners Insurance Doesn’t Cover Renters Belongings

The second reason why it is so important to purchase renters insurance is that homeowners insurance does not cover your belongings. Many renters do not realize that they are not covered by the homeowner’s policy of the person they are renting from. If you do not have renters insurance and your belongings are damaged in a fire or stolen, you won’t get reimbursed for the fair market value of those items. 

Renters Insurance Covers Damage You Accidentally Do to the Dwelling

The last reason why renters insurance is so important is that it protects you if you accidentally damage the dwelling. If you accidentally start a fire in a rented home or cause a flood, the homeowner can sue you for the damage done to your home. Renters insurance steps in to financially protect and cover you. 

When you are ready to buy renters insurance in the greater Mt. Ephraim, NJ area, please contact Marino Agency Inc. We can put together a renters insurance policy that offers you all of the protections you need. Call us now to get started and learn more.

Do I need to insure my RV for the entire year if I only use it in the summer?

An RV is a great way to travel around the country while keeping your independence. Many people retire and use their RVs as their primary residence, staying wherever they want for as long as they want. If you only want to use your RV for summer months, you may be trying to find ways to cut expenses.

Seasonal Insurance Policies

As with any other vehicle driven on public roads, all RVs are required to have basic liability insurance. As a resident of Mt. Ephraim, NJ, you may want to travel during the summer to take advantage of the pleasant weather. When you go to Marino Agency Inc. to obtain your policy, you may wish to obtain other types of coverage for the times when your RV is not on the road. It is sometimes possible to have coverage for the times when you will be using your vehicle. If you plan on storing it away for the winter, the plan could possibly be put on hold until the warmer months start to emerge.

Things to remember and requirements that you may need to continue

  • Towable RVs are not driven, so they do not necessarily need to be insured unless they are being financed.
  • If you are financing your RV, it is probably part of the terms of your agreement that you maintain full coverage until you have finished making payments. Your lender may even purchase an expensive policy for you if you fail to do so.
  • Even when you are not driving your RV, it is vulnerable to different kinds of loss. If left outside, your RV could be damaged by storms or vandalism. Even if stored safely in a closed structure, your RV could be destroyed in a fire.

Your RV is one of your most valuable and valued possessions, and it makes sense to protect it. Please contact Marino Agency Inc. in Mt. Ephraim, NJ if you are in or around New Jersey and have any questions about obtaining coverage for your RV.

3 Ways to Protect Your Motorcycle

Protecting something as portable as a motorcycle in Mt. Ephraim, NJ may seem like an exercise in futility, but there are ways that you can bring your odds of theft or damage far lower than you think. Marino Agency Inc. wants to provide these strategies to protect your bike.

Better Parking Strategies 

Motorcycles fit practically anywhere you put them. In fact, they’re a veritable joy to park. But when you take too many liberties with your parking spaces, you may end up sacrificing the safety of your motorcycle. Stay within brightly lit areas, so that you’re less likely to have a problem. You may also want to take an impromptu motorcycle driving class so that you know how to maneuver your bike and learn how to handle it better.

Invest in a Tracker 

GPS tracking devices may have been too large and awkward to put on a motorcycle in the past, but that’s all changed now. Today, they are relatively small and inconspicuous. It is easy to hide them on your bike which will allow you to track your motorcycle in the event of theft.

Consider Your Motorcycle Insurance 

Getting motorcycle insurance protects other drivers from any mistakes you make on the road, but it can also protect your bike as well. From natural weather events to theft and vandalism to just plain bad luck: there are policies that you can get that will make it easier to keep your bike in one piece. Call Marino Agency Inc. if you live near Mt. Ephraim, NJ and need a way to keep your motorcycle safe.

How Quickly Do You Need to Add a Baby to Your Health Insurance Policy?

Having a baby is one of the happiest days of your life. However, having a baby also raises a lot of questions for new parents. One of the questions that we at the Marino Agency Inc., serving the Mt. Ephraim, NJ area, is how quickly do you need to add a new baby to your health insurance policy. Here is some information you will want to know.

Your New Born and Health Insurance

In most cases, you have 30 days to add your new baby to your health insurance policy. If you fail to add the child to the policy during this time, you may give up the right to add the child to your health insurance plan until the next open enrollment period.

If you are hospitalized for a serious condition after the birth of your child, or your child is hospitalized, you may be able to get up to 60 days to add the child to your health insurance policy. However, it is best to ask before assuming that you can do this to ensure you add your child within the correct period of time. 

It is important to note that different health insurance plans have different requirements. If you are expecting a child, take the time to call your health insurance company and ask how soon you need to add your baby and what information you need to provide to add your child. 

Having a baby is considered a life-changing event, allowing you to change your existing health insurance or buy a policy if you do not yet have one. If you are looking for a new health insurance policy, contact Marino Agency Inc., serving the greater Mt. Ephraim, NJ area, now for a quote. 

Benefits of Having Flood Insurance

When floods occur, they cause financial losses in homes and businesses. Although most homeowners in New Jersey have basic policies for their properties, the coverage is not entirely adequate because they do not include flooding. The following are some reasons why flood insurance is required.

Assured compensation

The effects of flooding can leave homeowners in Mt. Ephraim, NJ and other places with financial strains. Flood insurance coverage provides compensation for all the losses included in the policy. The nature of compensation depends on the policy and what it caters for. Federal authorities may fail to recognize some flooding disasters as national issues, and therefore the victims may miss out on relief. With flood insurance coverage, you have the assurance of getting adequate compensation for your losses.

No payback required

Most of the relief granted by the federal government during disasters are repaid as loans by the victims. The payback can affect your finances for a long time. Flood insurance compensation in New Jersey is not a loan and policyholders usually get full payment.

Does not use tax money

The taxes collected by the authorities are for regional and federal development. When that money is diverted to help flooding victims, it increases the financial burden on taxpayers. Insurance compensation does not involve taxpayers’ money but is paid from premiums by policyholders.

Continuous policy

Flooding insurance policies in Mt. Ephraim, NJ are ongoing, and one does not need to cancel or renew them for recurrent flood disasters.

When a person is affected by flooding or other disasters, it is hard to handle issues such as preparing compensation claims. Marino Agency Inc. has qualified professionals who can assist you with choosing the right types of policies as you continue with the businesses of your life. It is possible, in some cases, to get partial compensation to help you get on with your life immediately.

For more information about flooding insurance, visit our offices or give us a call. Our agents can help answer your questions.

How can I prepare my condo for fall in New Jersey?

As seasons change, taking the time to prepare for cooler weather can make your Mt. Ephraim, NJ fall days comfortable and festive. Our agents at Marino Agency Inc. is here to answer questions about protecting your condo through the seasons.

Clean it Up

Open the windows and get busy cleaning. Now is the time to deep clean the oven, refrigerator, and bathrooms. Chemical cleaners are tough on allergies and asthma without proper ventilation. Take advantage of cool, breezy days to finish your fall deep clean.

Fall Back on Your Detectors

Fire departments around the country have urged residents to use the time change as a reminder to test smoke detectors and carbon monoxide detectors. Check the batteries and replace as needed.

Keep a Shovel Near the Door

Depending on your space, a small shovel can come in handy to clear a stoop or walkway. It’s also a good idea to clear snow from balconies and patios to prevent water damage as the snow melts.

Check for Drafts

Save energy and money on heating by sealing up drafty windows, doors, and outlets. Clear plastic kits are available that are way more affordable than window replacement. Door strips and foam sealants also work to keep drafts out.

Clean the Dryer Vent

Hot air needs to vent somewhere. Even the best lint traps allow tiny particles through that gradually build up in the duct. The dryer has to work extra hard to force air out, making overheating and equipment failure a real threat. 

Your team at Marino Agency Inc. is your go-to source for questions about protecting your Mt. Ephraim, NJ condo. It only takes a few minutes to prevent the loss of funds or property down the road.

Using Insurance to Protect Your Family on Your Boat

When you think of your boat, you probably think more about what you’ve done on it and who you were with versus how much horse power it has in the engine or how wide it is from end to end. From tubing with your kids to fixing a leak entirely on your own, it’s natural to want to keep your boat protected with as many safeguards as possible. So how can insurance help you do this? See how getting the right policy in Mt. Ephraim, NJ can make all the difference. 

Patching It Up 

Most of the time, you’re probably your own best handyman to call upon. There are some things that a little elbow grease and ingenuity can take care of, and you’ve probably got the vast majority of it all covered. However, what happens when you have a major problem you can’t solve on your own? When the damage has gone beyond your handyman limits? The right insurance policy can get everything fixed right away, so you don’t have to take your boat out in subprime conditions. The longer you wait, the worse your boat will continue to get. Marino Agency Inc. wants you to have the best possible means to keep your family in total safety when on the water. 

Reaching Out 

From minor accidents with other boats in a crowded harbor to massive damage from a summer storm, it’s time to give us a call to ensure you have the means to face any potential danger that may come your way. If you live in Mt. Ephraim, NJ, then now is the time to take the next step in getting help. Marino Agency Inc. has a staff that’s here to keep you, your family, and your boat from harm. 

3 Ways Life Insurance Can Protect Your Family

You should always be looking at ways to protect your family. When you live in New Jersey, life insurance should be something you have. Whether it’s term, universal, whole, or any other type of policy, you need something in order to provide financial protection.

A Peace of Mind

One of the main reasons to have life insurance is to provide peace of mind to everyone. You never know when something is going to happen. If you were to die suddenly, would your family be able to carry on? With a way to pay all of their bills? Having a life insurance policy provides you with peace knowing that if something were to happen, you would be able to still take care of your family via a death settlement. While you hope that nothing ever happens, it’s best to have the protection in place.

Death Settlement

In the event of your death, your family is going to look at life insurance as a way of getting the money that they need to cover finances. Without your income, it might make it difficult to continue living at the level they are accustomed. A death settlement can be used to cover funeral expenses, mortgage payments, college for kids, and much more.

Our agents at Marino Agency, Inc. in Mt. Ephraim, NJ can also help you to calculate the best death settlement based on your age and your current level of finances.

Retirement Protection

Depending on the policy you get, you can also have retirement protection. Whole life insurance policies will provide you with retirement income because of the cash value associated with them.

At Marino Agency, Inc. in Mt. Ephraim, NJ, our goal is to help you find the policy that works best for you and your family. Call today to learn more about life insurance and what fits best with your budget.