Insure and secure your condo the “right” way this year!

Those who own or rent condominiums of any size will quickly come to realize that they’ll be required to get their own policies on such, whether individually or covering multiple parties in the condo home. You won’t need to look far if that’s your case since almost every condo association in the U.S. sells its own kind of condo insurance….but you do need to look around to make sure you get a great deal and not just a decent one. That can be the tricky part, an important point to remember and potentially a topic for another great article. 

Now, condo insurance itself usually covers the common living areas of your condo, in full, enveloping every single square inch of space you have rented out or purchased, based upon the contract agreement stating so. You will also find that certain areas of the building’s exterior may also be insured, leaving you with greater peace of mind. Yet keep in mind the following: some packaged plans do not cover the interior of the condo but only damage from the outside, and vice versa. So, it’s crucial to read those terms carefully before signing and the agents of The Insurance Place in Rochelle Park, NJ can help.

Also, there are many types of packages you can select, respectively, the main ones including these three : 

  • All – In / All-Inclusive Condo Insurance – Protects all surfaces on the outside and inside alike.
  • Special Entity Condo Insurance – Covers everything but unit add-ons or structural improvements made later on.
  • Bare Structure Condo Insurance – Only covers the "bare essentials", not including any interior structures or assets. 

Rochelle Park, NJ is home to many amazing insurance agencies like The Insurance Place. If you live here or in the area, check us out today. There’s nothing you can lose! Call now. 

How To Choose The Type Of Health Coverage That Meets Your Needs

Are you planning on purchasing health coverage in Bergen County? If so, before you buy a policy from The Insurance Place, think about what you need from your coverage. Plan out a budget as well. Then, you can make an informed decision about your policy. Here are some specific considerations to make before choosing your ideal health coverage.

Consider Your Current Health

Are you currently healthy?

If you have the health of an average person, you’re in luck. You can probably pay a lower monthly premium than someone who has some underlying medical conditions to take care of. If you’re generally healthy, you can pay a lower monthly rate so that you can have healthcare coverage in case of an emergency or for annual doctor’s visits.

If you have preexisting conditions, you will need to consider the specific medical coverage you require.

  • Perhaps you need a CPAP machine for your sleep apnea.
  • Maybe you need physical therapy for a joint condition or a recent injury resulting from an accident.
  • Perhaps you will need surgery in the not-too-distant future.

All of the above factors will impact your monthly premium rate as well as your deductible for medical bills.

Consider Your Family’s Health Needs

Are you buying healthcare coverage for others as well as yourself?

If you have dependent family members who need coverage as well, you may be able to save money on a family policy. That being said, a policy that covers multiple patients is generally more expensive regarding premium costs than an individual policy.

Consider Your Emergency Budget

What kind of budget do you have in case of emergencies? Do you have a savings account with emergency funds, or would you be thrown into debt in case of an urgent medical matter?

If you have substantial savings that can be spared on emergency medical costs, you can purchase a policy with a lower premium. If, however, you would not be able to afford your bills in case of an emergency, you should choose a higher-premium policy in order to have better coverage in a medically urgent situation.

Are you ready to buy healthcare coverage in Bergen County? Contact a friendly agent at The Insurance Place to discuss your coverage options. We are standing by to help you determine which policy would be ideal for your circumstances.

3 Reasons to Buy Life Insurance for Children

A universal perception is that life insurance was intended to provide relief for dependents in case breadwinners died. However, at The Insurance Place, we have a different perspective. Consequently, we want to interest our esteemed clients in Rochelle Park, NJ with three reasons why a life insurance policy for your child is a good idea. 

Guaranteed Insurability

Did you know that factors like obesity, cancer, diabetes, and HBP can affect your child’s insurability? A crucial benefit of buying life insurance for your child is that they will always be covered irrespective of their future health. It is essential to verify with your agent at The Insurance Place that the policy you are buying will cover your child throughout their life notwithstanding their impending medical issues.

Relief During Grief

Most parents hope that their children will outlive them. However, during the untimely occurrence of a child’s death, daily responsibilities may be overwhelming. As such, a life insurance payout can relieve you with the financial load. This disbursement could cater to medical bills, burial expenses, and family counseling. Similarly, it could provide finances for the household to get by in case you may need to take leave from your employment to grieve your loss.

Acts as a Saving’s Vehicle 

A permanent life insurance policy’s cash value increases tax-deferred. Consequently, the policy owner can withdraw or borrow against the policy’s savings component to finance living benefits such as college tuition, a vehicle, or a down payment on a house. While a life insurance policy isn’t designed to serve primarily as a tool for savings and investment, it is a significant tool that parents can consider. 

Policies vary significantly depending on the company. Therefore, get in touch with us, and one of our agents in Rochelle Park, NJ can help you to ensure that your kid capitalizes on their policy.

Cracked Windshields: Should You Use Your Auto Insurance for Repairs?

At The Insurance Place, we handle hundreds of policy claims about windshields every year. Maybe even thousands. Each of these claims has different elements that make them unique but are united by a variety of elements. Understanding this type of policy can help Rochelle Park, NJ residents know what to do if their glass cracks and whether or not they should use their insurance policy.

Most Policies Cover Glass Damage

Comprehensive auto insurance typically covers windshield damage, unless you contributed to it. For example, if you hit the glass with a rock out of anger, your policy won’t go into effect. Specific coverage options, such as full glass insurance, are also available. These policies are nice because they will cover all of the cost of repair or replacement, rather than the partial payment you’ll get with comprehensive auto insurance.

Should Drivers Use Insurance for This Purpose?

Like with any insurance policy, using your glass repair coverage may affect your policy. For example, excessive auto glass repair claims may cause your provider to decrease your coverage or increase your payments. They do this to protect themselves from a dangerous or unsafe driver who keeps cracking their windshield.

However, that type of policy change doesn’t usually go into effect unless you are severely abusing your policy. Two or three claims shouldn’t be a problem for the life of your vehicle. However, more than that – particularly multiple claims in a year – can be a problem. But one claim every few years isn’t a major deal.

So if you have a crack on your windshield and you have insurance through The Insurance Place, please don’t hesitate to contact us to learn more about your coverage. We can help Rochelle Park, NJ residents like you fully understand the limits of your claim and will ensure that everything goes smoothly with it.

Modern Business and the Fluid Office

The traditional business model in Rochelle Park, NJ and elsewhere is that when employees are hired, they stay a long time, and the company eventually grows if successful. However, with the internet and today’s capabilities, businesses small and large are realizing that they can scale up and down in size very quickly by focusing on their core functions and farming out support or temporary needs. That, however, means that the very nature of the business becomes extremely flexible, which one would think doesn’t quite match what business insurance would cover. That said, the way a business works isn’t the only thing changing with the times.

The fundamental approach to commercial coverage is that the entire business is addressed in a policy. And that includes what represents the business at the time the policy is in place unless specified otherwise. So while the nature of the labor may change with contracting out, if the resources are a bona fide part of the business, they become part of the risk that is covered. Where the contractors are part of another business, however, then the policy would not include them, and special terms would be needed to extend coverage, such as in the case of a temporary partnership or similar.

The folks at the Insurance Place can help companies in Rochelle Park, NJ and elsewhere dealing with coverage needs and flexible business models. Instead of guessing and ending up with a commercial insurance policy that doesn’t work when needed the most, a new business should set up coverage right the first time. Call the Insurance Place to put things right from the start.

When Should You Update Your Homeowners Insurance Policy?

When it comes to taking care of your home, you already have enough to worry about and your home insurance policy from The Insurance Place might not be among the top things on your to-do list. Most probably, you are more concerned about your mortgage payments, repairs, and overall home maintenance. However, this is where most homeowners in Rochelle Park, NJ go wrong.

You need to remember the fact that if you don’t review and update your home insurance regularly, you could be in a big mess when something unexpected happens. It is always a good idea to keep your home insurance policy up-to-date. So, when should you update your home insurance policy?

When You Remodel Your Home

Have you updated your ancient kitchen, upgraded your master bedroom suite, or completed any significant remodeling job in your home? Then you need to call your homeowners’ insurance agent and inform him/her about the changes. The primary reason why you should do this is that a major home remodeling job can increase the value of your home which could make it expensive to rebuild it if a disaster strikes.

When You Experiences Major Life Changes

As people, we grow and evolve over time. Sometimes, you might experience significant life changes that can affect your home insurance policies hence the need to update your policy from The Insurance Place. For instance, if you have a baby or one of your children moves out, you need to notify your agent in Rochelle Park, NJ so that your policy is updated. If you have also retired or quit smoking, you need to inform your agent to start enjoying various discounts on your policy.

When You Bring In a Pet

Insurance companies will view your pet as a member of your family. For instance, your home insurance policy will most likely cover you if your dog bites someone at your home. However, you must inform the insurance provider about your new pet to guarantee protection.

Contact us today for your home insurance policy. Our agents are ready to answer your questions and get you started with a quote.