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.

Life Insurance Options for New Jersey Residents

Do you want to save your loved ones from financial hurdles upon your unexpected demise? If yes, consider life insurance from Marino Agency Inc. Life insurance is a financial tool that cushions your family and loved ones in Mt. Ephraim, NJ, when you pass away. Besides, life insurance is ideal if you have debts, own a business, or are a stay-at-home parent.

As you can see, life insurance is a worthwhile investment to protect the things that matter most in life.   However, to note is that life insurance comes with different options to enable you to choose a plan that meets your financial objectives. Here are different life insurance options available. 

  • Term life insurance: It’s a policy specified for a given period or duration, probably between 10 or 30 years. It does not have cash value as whole life insurance. It’s designed to accord your beneficiaries a death benefit if your death occurs when your policy is active.
  • Whole life or permanent life insurance: It’s tailored to cover the policyholder for an entire lifetime — it doesn’t expire as long as you pay premiums. Whole life insurance not only protects your beneficiaries when you die, but it accumulates cash value that you can use to supplement your income when alive.
  • Universal life insurance: This coverage accumulates a cash value, just like whole life insurance. Your premiums are destined towards the cash value as well as a death benefit. You can adjust the death benefits and premium within this policy without getting a new policy.
  • Variable universal insurance: The policy bearer is at liberty to invest the policy’s cash value to generate greater returns. Also, this policy allows flexible payment of premiums.

Are you a Mt. Ephraim, NJ resident shopping for a life insurance plan to protect what matters most in life? If yes, please visit our dedicated agents at Marino Agency Inc. today to get coverage that fits in your financial plan.

Who needs to have life insurance?

All insurance is protection, but life insurance is one that doesn’t benefit you, it benefits your loved ones. Even though your name may be on the policy, you have it to protect others. Just about everyone should consider the benefits of life insurance. At Marino Agency Inc. in New Jersey, we are independent insurance agents, which means we can offer you more choices. 

When you are young and don’t have any dependents, it may seem like a waste of money to buy life insurance. It is actually the ideal time to add life insurance to your financial planning. It will never be less expensive and you can lock in these low rates for your lifetime. While you may not "need it" at this point, it is a wise financial move to purchase it at this time. 

Once you get into a relationship, you have someone who may be dependent on you. If you decide to start a family, obligations come along with that decision. You need to consider the amount of life insurance you have and whether it is adequate to protect your family if you are not there with your income. To get the amount of life insurance you may need, term life insurance is the option most people choose. It is affordable and it will be gone in your later years when you no longer need it. 

If you don’t have the money to pay for your final expenses, you need to have life insurance. Final expenses have gotten very high in recent years and leaving your family to try to come up with that amount of money is irresponsible. If you haven’t already purchased life insurance, you can still get it even though you are up there in years. Your insurance agent can fill you in on available options.  

Contact Marino Agency Inc. in New Jersey with your life insurance needs. 

Factors that affect your boat insurance rate

Buying a boat is the second largest investment a person can make after buying a house. Therefore, it only makes sense to protect such an investment. While boat insurance is mandatory in many states, this is not the case in New Jersey. 

However, as in many other states, a person can be held liable for damages caused by the owner while operating the boat. It is a wise decision to at least purchase liability insurance. While many homeowners insurance policies provide limited coverage for boats, there are areas that are not covered by this type of insurance, such as incidents related to pollution, salvage, or wreck removal, to name a few.

In addition, boat owners should consider whether they want to purchase diminished value insurance or agreed-value boat insurance. Time value insurance covers the value of the boat at the time of the accident minus its depreciation. With agreed value insurance, on the other hand, the insurer pays out the agreed insured value of the boat, regardless of its depreciation. Marino Agency Inc. in Mt. Ephraim, NJ is a family-owned and operated insurance company, established in 1982. The company caters to various types of insurance, including boat insurance. 

It is important that boat owners understand what factors influence and determine the rate of boat insurance. Different companies use different combinations of these factors to determine whether a person is at high or low risk:

  • The overall condition of the boat
  • Boating education course
  • Additional safety equipment
  • Age of the boat
  • Value of the boat
  • Owner’s age
  • Type of boat
  • Length of the policy
  • Location of the boat, ie. rivers and lakes or the ocean
  • Insurance score

For peace of mind, come by and visit or call Marino Agency Inc. located in Mt. Ephraim, NJ to discuss possible boat insurance coverage.

Why Should I Invest in Life Insurance?

Acquiring Mt. Ephraim, NJ, life insurance is instrumental because it eliminates the chances of your dependents struggling with financial constraints upon your untimely demise. It’s also crucial if you have outstanding debts and a business entity. The life we live today is full of uncertainties, therefore, requiring a formidable contingency plan. Life insurance instills peace of mind by being almost confident that your beneficiaries will continue the quality of life you are accustomed to them while living in case of an unforeseen event like premature death. Are you a Mt. Ephraim, NJ resident in need of life insurance to ensure that your family and loved ones don’t strain financially when you are gone away? Please get in touch with our agents at Marino Agency Inc in designing a spectacular coverage that goes a long way in safeguarding your dependents financially when your untimely death strikes.

Is life insurance a worthwhile asset?

Investing in life insurance is a prudent idea in Mt. Ephraim, NJ because it is beneficial in the following ways:

To cover outstanding debts.

Did you know that your beneficiaries can use savings from your life insurance to offset expenditures such as loans and college education fees for your children? In addition, this policy can get extended on payments of other prevailing debts such as credit card bills or pending car mortgages.

Death benefits are exempted from taxation

Suppose you invest in life insurance and die unexpectedly upon prompt submission of premiums. In that case, your beneficiaries will enjoy the total amount of death benefit without any form of taxation while submitting their file returns.

 Cater to beneficiaries living expenses

Residents of Mt. Ephraim, NJ does not have to worry about those depending on them to undergo any form of financial suffering. They get peace of mind knowing that in case of anything, their living expenses are covered. 

It covers chronic and terminal illnesses

If the insured is diagnosed with a terminal illness and is expected to live for just 12 months, their medical bills are covered under their life insurance. This concern is a great way to show that the insurance company cares for the well-being of its members.

Are you a resident of Mt. Ephraim, NJ searching for salient life insurance to safeguard the future financial goals for your family and loved ones? Please speak to our agents at Marino Agency Inc today and get started with your life insurance.

What Is Business Interruption Insurance?

At the Marino Agency Inc., we are ready to discuss business interruption insurance with business owners as we serve Mt. Ephraim, NJ.  Also called business income coverage, it provides some financial relief for your enterprise if named perils in your policy cause your operations to be temporarily halted.

Why Business Interruption Insurance Is Important

This insurance may be part of your commercial property insurance policy or it may be an endorsement. You may ask,  Why do I need business interruption insurance when I have property insurance?

Well, in the event of a fire or other peril designated by your policy, your insurer covers the loss of only tangible items. So, if you own a restaurant, kitchen equipment, appliances and furniture that are destroyed would be covered. 

Two Specifics of Business Income Coverage 

Business interruption insurance is all about the money that comes in and goes out. This kind of policy helps you replace the net income you would expect if you were not shut down. It also helps you pay net operating expenses during closure.

Though business interruption insurance can provide income while your business is being restored, it is active only for the perils named in your policy.  An all-risk policy, which covers more perils (except those excluded in writing) may be available.

Business interruption insurance is especially recommended for businesses whose permanent location is vital to generating income. In this category are restaurants, retail stores, hair salons, nail salons, barbershops, etc.

As a family-owned and family-operated business serving Mt. Ephraim, NJ, we treat you like a neighbor. Contact us at the Marino Agency Inc. to discuss how business interruption can make your business operations more secure.

How to Protect Your Belongings as Well as Your Home

If you are a homeowner, you probably already know about home insurance. If you rent your home or apartment in Mt. Ephraim, NJ, you do not purchase home insurance; you purchase renters’ insurance. 

What is Renters’ Insurance?

Renters’ insurance is insurance that you purchase to protect the contents of your home,  not the home itself. The owner of your apartment or house gets homeowners’ insurance. You need rental insurance to protect all of the things you love that would be hard to replace, such as:

  • Expensive clothing, furniture, and appliances
  • Art, hobby items, or family heirlooms
  • Expensive jewelry
  • Keepsakes from your family’s archives such as old videos or audio recordings
  • Electronic equipment, computers, and such
  • Anything of value you don’t want to lose

Granted, if you lost all of the contents of your rental, it would still be devastating. But not as devastating as it would be if you were not covered. You may never be able to replace photos or family keepsakes, but you need to be able to afford to rebuild what you can including the things you have invested the most money in.

Assess Your Valuables

It’s wise to take inventory of your valuables that are in your apartment or rental and research the approximate value of them. Then share this with your insurance agent at Marino Agency Inc. This will give them a good idea of how much overage you need and the types of coverage that will be necessary to protect your stuff.

If you underestimate the amount of coverage you need, you will not be able to cover everything and will still be owing out-of-pocket for what it does not protect. Always err on the side of caution and get more than you think you need, rather than less. 

In the Mt. Ephraim, NJ area, Marino Agency Inc. is the insurance company that has your back. Contact them to find out how you can protect not only your home but what’s in it!