Don’t Allow Your Summer Fun to Turn into Disaster – Purchase Boat Insurance

Do you have a boat you enjoy during the summer months? Do you reside in Mt. Ephraim, NJ? If so, the Marino Agency Inc. is the firm to see for a quote on boat insurance.

It is the opinion of insurance professionals that everyone who owns a boat should consider purchasing boat insurance. It can cover the expenses of accidental damage from a collision with another boat, dock, or other watercraft.

The type of boat, its length, and expected use will dictate the boat insurance rates. Whether you own a speed boat, yacht, or small fishing boat, it will significantly affect your premium cost. But on average, boat insurance typically ranges on average from $200 to $500 per year.

How much should a boat be insured for? Whatever it would cost you to replace it with the same quality and kind. This is referred to as “stated value” or “agreed value” coverage. In the event of a total loss, it will pay the full insured amount.

Full coverage boat insurance will provide:

  • Liability coverage is basic coverage that protects anyone your boat could injure.
  • Medical payments will pay for medical expenses that you or any of your passengers onboard could suffer due to an accident.
  • Salvage coverage is also known as wreckage removal. If your boat is totaled in an accident, this coverage will take it away, especially if it is a hazard to navigation.

Accidents can happen on the water as easily as on the road. Don’t allow your summer fun to be halted because of a water mishap. Let the Marino Agency Inc. agents answer any questions you may have about boat insurance and continue your summer fun. Contact them today. You will be glad you did.

The Two Main Types of Life Insurance

When you need life insurance, getting it and keeping it is important. Life insurance can provide a legacy for those left behind when you’re gone. If people depend on you, you need to have this protection, so they are financially protected later on. There are two main types of this insurance, and it’s a good idea to know what each of them is so that you can choose the best one for you. Call us at Marino Agency Inc. in Mt. Ephraim, NJ when you need life insurance.

Term Life Insurance

This is a highly popular type of life insurance that comes with a relatively low price tag. Many choose this type of insurance because it is the most affordable one. If you’re on a tight budget, term life insurance may be right. This insurance stays in effect for a specific amount of time, often 20 or 25 years. The policy remains good during that time and then expires at the end of it. Once that happens, you will need to apply for a new policy to be covered once again. 

Whole Life Insurance

If you don’t want your life insurance to expire, you may want to get a whole life. This type never expires, even if you reach an advanced age. This type of life insurance is more expensive, but it comes with many benefits. In addition to having no expiration date, it also builds an amount you can borrow against. This cash value is a major benefit many people want in a financial emergency. 

Get Your Life Insurance Policy

If you don’t have a life insurance policy in place yet, it’s time to call us at Marino Agency Inc. in Mt. Ephraim, NJ.

Four Add-ons to Consider for Your Commercial Insurance

All businesses in New Jersey must invest in worker’s comp insurance to avoid non-compliance penalties. Besides, you must invest in commercial auto insurance if you have business vehicles. While purchasing the mandatory commercial insurance policies is excellent, you will be putting your Mt. Ephraim, NJ business in jeopardy if you don’t stick your neck out to consider other business insurance policies. Marino Agency Inc. highlights four “add-ons” or “riders” to consider for your commercial insurance policy.

Umbrella Insurance

The general business liability policy is essential but can only do so much when faced with significant liability claims. Consider umbrella insurance to protect your business from substantial legal suits. This coverage takes over from where your conventional liability insurance leaves off. This way, your business assets and savings will be untouched when faced with significant liabilities.

Flood Insurance

Standard business insurance doesn’t protect your business from flood damage. In light of this, invest in flood insurance, primarily if your business is in a flood risk zone. While flood insurance doesn’t prevent floods, it ensures you don’t start from scratch when catastrophes strike.

Cyber liability insurance

Most businesses infusing technology in their operations have exposed them to cyber-attacks. While you can take several measures to cyber-proof your business, invest in cyber liability insurance to cover costs following a cyber attack.

Commercial property insurance

This coverage covers loss or damage to your assets caused by perils like fire, theft, vandalism, etc. This insurance compensates you for the loss, lessening your financial burden after a catastrophe.

Learn more about commercial insurance

Want to know the correct type of commercial insurance suitable for your business? If you are in Mt. Ephraim, NJ, please contact Marino Agency Inc. We will help you understand commercial insurance to make an informed decision when protecting your business.

How Much Renters Insurance Do I Need?

Renters insurance is a worthwhile investment for tenants who want to protect themselves from liability claims and safeguard their assets. While we can all agree that renters insurance is must-have insurance for all tenants, how much is sufficient? You need an adequate amount of renters insurance to ensure you don’t incur unpredicted out-of-pocket costs when accidents happen.  

Not sure how much renters insurance you need? Please follow the following guidelines from Marino Agency Inc. 

How much coverage is enough for my assets?

When purchasing renters insurance for your assets, you should assume the worst-case scenario. Is your renter’s insurance enough to compensate you for the loss if all your assets were stolen or damaged? Always purchase renters insurance adequate to replace all your assets.

To ensure all the assets are covered, conduct a room-from-room inventory count. Assign a value to your assets and send the list to your insurer for coverage.

How much liability coverage do I need?

Renters insurance covers you and your family when accused by others of causing property damage or bodily injury. But how much liability coverage do you need? This is usually a tricky question because you can never know the amount of liability claim you will face.

Typically, most people are comfortable with liability coverage of $100,000. However, if your assets exceed this amount, you should look for liability coverage of about $300,000. But if this is still insufficient, we advise you to purchase umbrella insurance for broader and higher coverage.

Renters insurance in Mt. Ephraim, NJ

Still not sure how much renters insurance you need? We understand. Understanding insurance can sometimes be challenging. However, we won’t let you walk alone — let us be your insurance expert. To learn more about renters insurance and other policies, please call Marino Agency Inc. Better yet, you can visit our Mt. Ephraim, NJ office to chat with one of our agents in person.

Protecting your RV while at a park or campground

Marino Agency Inc. is here to assist all RV owners in the greater Mt. Ephraim, NJ area with their insurance needs. In many ways, how you use your RV will determine how you need to insure it. If you have questions about any insurance, we are here to help. Contact our office today.

How to best protect your RV when you’re at a park or campground

Having an RV means that you have a lot of flexibility. Many people love to take their vehicle to the same park or campground yearly to enjoy time with friends and family.

If you are using your RV to live in a fixed spot for an extended period, you will have different insurance needs than someone taking their vehicle out on the road to travel long distances.

Liability protection can be one of the most beneficial aspects of a comprehensive policy. This coverage can protect you from financial liability if your vehicle has an accident or mishap. Owners who do a lot of entertaining or have lots of overnight guests can be vulnerable to injury-causing accidents that create financial losses.

To protect your financial health, you will want to ensure you have the liability protection you need. Don’t leave yourself open to financial risk. Owning an RV is a great way to enjoy your life, especially with the proper insurance protection. 

We look forward to working with you!

RV enthusiasts in Mt. Ephraim, NJ, and the surrounding area can count on Marino Agency Inc. for all their insurance needs. Give us a call today and let us help you find the insurance policy that best meets your needs. 

What Are The Different Types Of Motorcycle Insurance?

Motorcycle insurance comes in two main types: liability and collision. Liability coverage would cater for your lost wages, damaged motorcycle, and medical costs if you caused the crash. Collision insurance protects your motorcycle, and it is typically required if your bike has a value above a certain threshold. 

It caters to the cost of repairing or replacing your bike if you are at fault in a crash. Most policies also offer some level of uninsured/underinsured motorist protection. Talk to Marino Agency Inc. in Mt. Ephraim, NJ to know the various insurance policies available. 

Know More About Motorcycle Insurance 

Some companies categorize motorcycle insurance as bodily injury and property damage. Bodily injury caters to medical costs and other expenses if you’re involved in an accident, or another person is hurt. Property damage coverage pays for costs if you damage someone else’s property. 

Many policies also offer a few other types of coverage, such as medical expenses if you’re in an accident and injure yourself. They also cater for stolen or damaged bikes and cover uninsured or underinsured persons. 

You can also buy an extra policy called gap coverage, which will pay for the difference between the amount your insurance company pays and the amount of repairing your bike if it’s destroyed in an accident. 

Other companies classify motorcycle insurance as liability and non-liability. Liability insurance is typically required by law and covers costs incurred by others due to your actions. It’s vital to maintain liability coverage on your motorcycle. 

Non-liability insurance is optional and typically covers costs incurred due to circumstances beyond your control (e.g., weather conditions, mechanical issues, etc.). 

Most motorcycle policies also have other coverage options, such as uninsured/underinsured motorist coverage, roadside assistance, and rideshare/comprehensive coverage. 

Motorcycle insurance comes in several different types, each offering coverage for various risks. 

Bottomline 

When you shop for motorcycle insurance, you will likely come across these types: compulsory, liability, voluntary, extended, and endorsement. Compulsory coverage is required by law, and you will be ticketed if you do not have it. 

Endorsement is something you can add to your policy, which usually increases the cost of your insurance. You can add voluntary coverage to your policy, which generally decreases the cost of your insurance. For a consultation, call Marino Agency Inc., a firm serving at Mt. Ephraim, NJ.

What Are The Benefits of Having Health Insurance?

Having health insurance can help you avoid spending money you can’t afford on medical expenses. It can also help manage your health so that you don’t have to deal with unplanned medical expenses. Not having health insurance can be a financial disaster. You may have to deal with expensive emergency room visits and other expensive medical costs. Here are the top benefits to consider the health insurance. 

Protection from Unplanned Medical Expenses

Do you know that feeling when you get a stitch in your side or have an allergic reaction to something you are eating? You probably didn’t have health insurance when that happened. You might have gone to the ER, and they would have likely charged you a lot of money. Being uninsured can be very scary for someone just starting in life and has no family or friends to help out. Having health insurance can help out a lot. 

Financial Security

Most of us don’t think about how much health insurance can cost. But having health insurance is like having a bank account. You don’t really "owe" it to anyone if you never use it. Whether it’s getting the flu or just a cold, you don’t know when or how you will get sick. So having health insurance can help you deal with medical expenses if they happen. 

New Patient Orientation

As a patient, you will want to care for your needs before even getting to the hospital. Health insurance can help your diagnosis and treatment before starting a costly journey that could take several months or even years. You may not have to pay for as many tests and visits with the proper coverage. 

Wrapping Up

Having insurance can help you avoid getting charged for unplanned medical expenses. Not having the cover can have serious consequences, like losing a job or going without certain things, like surgery. The insurance can help you receive the medical care you need, such as medication or an operation. Such benefits can make it a win-win situation for everyone involved: You get the care you need, the treatment costs are covered, and you can save some money. For more help, call Marino Agency Inc. at Mt. Ephraim, NJ.

Common Flood Insurance Exclusions

If you live in Mt. Ephraim, NJ, you know floods can strike anytime, and that’s why you have invested in flood insurance from Marino Agency Inc.  Flood insurance protects your home structure and the contents inside when disaster strikes. Unfortunately, like other insurance policies, flood insurance has exclusions and limitations. With this in mind, flood insurance doesn’t cover the risks below:

Loss of use

Home insurance covers additional living expenses when your home is rendered unlivable by a peril listed in your policy. Regrettably, flood insurance doesn’t cover such expenses when flooding occurs.

In-house flooding

Flood insurance covers you when the damage results from overland flooding. However, flood insurance won’t cover any flooding occurring because of a malfunction inside the house. For instance, flood insurance won’t cover damage when leaky pipes or sewer backups cause in-house flooding.  

Earth movements

Flood insurance won’t cover damage from mudslides and landslides, even if the cause is flooding. For such damage, you have to turn to your earth movement coverage.

Movable properties

Flood insurance won’t cover your vehicles or any other movable asset. For your vehicle, consult with your insurer to determine whether your auto insurance policy covers flooding damage.

Detached properties

Typical flood insurance is unlikely to cover properties outside your main property, except for the detached garage. So, flood insurance won’t cover fences, sheds, patios, pools, or other properties outside your main building.

Flood insurance in Mt. Ephraim, NJ

Since home insurance doesn’t cover floods, it’s wise to invest in flood insurance. This coverage comes to your rescue when floods cause untold damage to your home. In light of this, would you like to invest in flood insurance? If yes, don’t wait any longer. Instead, get in touch with Marino Agency Inc. for a competitive quote.

What does my Mt. Ephraim, NJ condo insurance cover?

Marino Agency Inc. knows that condo insurance isn’t an option. It’s a necessity.

Many people incorrectly assume they’re already protected by a landlord or building association’s policy. But, in reality, this coverage is extremely limited.

Fortunately, Marino Agency Inc. can make sure you’re prepared. Located in Mt. Ephraim, NJ, the agency identifies four items that should be included in every condo insurance policy.

Building protections

An owner’s insurance plan includes the structure of the building itself. This rarely extends to anything on the inside. Luckily, condo insurance fills that gap by insuring the interior. In the event of damage, destruction, or vandalism, your policy insures flooring, walls, cabinetry, and any other permanent fixtures.

Possession protection

Condo insurance applies to your belongings too. Furniture, appliances, electronics, jewelry, and other valuables are shielded against loss. Although each policy will list covered events, damage from natural disasters, like water or fire, is typically included. Theft and vandalism are also likely covered.

Personal liability

Liability is a key part of any insurance policy. This coverage protects you, your family, and guests if an accident does occur inside your residence. It reimburses for any property, medical, or other injury-related expenses. But, in the event of a lawsuit, liability chips in for legal costs as well.

Loss of use coverage

Even preparation can’t prevent accidents from happening. If a serious disaster occurs, you may be forced to relocate if your condo becomes uninhabitable. Loss of use coverage pays for additional living expenses associated with this temporary move, including hotels, meals, and even increased travel.

Find an agent serving Mt. Ephraim, NJ

If you rent or own a condo, only a dedicated condo insurance policy can ensure you’re protected. Contact Marino Agency Inc. to set up an appointment today.

The ABCs of Boat Insurance

Do you own a boat in Mt. Ephraim, NJ? If yes, do you have boat insurance from Marino Agency Inc.? Regrettably, many boaters like sharing their experience in the water but don’t like talking about boat insurance. The reality is that boat accidents can be expensive, and it can get messy if you don’t have boat insurance.

What’s your excuse for not having boat insurance? For some, they think boat accidents rarely happen. Others don’t buy insurance because it’s not mandatory. Whatever your reason, you are making a financial blunder by ignoring boat insurance. 

Here is what you need to know about boat insurance, and how it protects you and your boat.

It may be required

Boat insurance isn’t required in New Jersey, but it may be necessary if a federal-regulated lender has financed your boat. Boat insurance protects the lender’s interest, and you may be required to maintain it until your loan is fully paid.

Know the difference between agreed value and actual cash value

For the agreed value, you and your insurer agree on the worth of your boat. This amount is the much that your insurer can pay. The agreed value favors many boats because you get compensation without removing the depreciation factor.

The actual cash value is the market price of your boat at the time of damage. Unless your boat increases in value, you will always be on the losing end when receiving compensation after your boat has been stolen or written off.

Your boat has exclusions

Like other insurance coverages, your boat has exclusions. Your typical boat won’t cover the below risks:

  • Machine breakdown
  • Normal wear and tear
  • Damage by marine life
  • Damage by pests or mold
  • Intentional damage

Need to learn more about boat insurance? You can always talk to Marino Agency Inc. for more information. Also, don’t shy off from passing by our Mt. Ephraim, NJ offices to chat with one of our agents.