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Quick Summary

This guide provides and in-depth look at the various elements that are part of the New Jersey personal insurance industry. Learn what personal umbrella insurance is and the benefits it provides.

Discover the insurance elements that protect motor vehicles and boats. Identify the insurance policies that stand on the front lines of home protection. Gain insight into why wedding insurance needs to be part of that special day. This guide aims to answer all of your personal insurance questions.


Quick Links


How to Select an Insurance Company

How to Select an Insurance Policy Deductible

Understanding Personal Umbrella Insurance

Gain Insight Into Motor Vehicle Insurance

Uncover the Facts About Motorcycle Insurance

Understanding Classic Car Insurance

Discover the Facts About Boating Insurance

Uncover Homeowner Insurance Protection Options

What is Flood Insurance?

The Final Thought



insurance policy

Life is full of surprises. When these life moments take place, personal insurance opens in a new window steps in to provide you with a barrier of protection to prevent a bad situation from becoming a catastrophic one.

Each month you pay a premium it works to offset the potential loss due to an accident, injury or property damage you may experience during the month. Your insurance provider, in turn, gives you protection from some of the following situations that can happen at any time.

  • Loss of your vehicle as a result of an accident.
  • Damage to your home as a result of someone else’s negligence.
  • Personal injury as a result of an accident or someone else’s negligence.
  • Lawsuit as a result of damage you cause to someone else.

The absence of a personal insurance policy in each of these situations could easily result in you facing bankruptcy, losing a business you own or being left without a way to handle the unexpected loss of a loved one.


How to Select an Insurance Company

Selecting an insurance company is not a decision that you should take lightly. You need to find a company that you feel comfortable working with and that you feel will be ready to stand by your side when tragedy strikes.

There are several elements that you want to look for when researching possible insurance companies to do business with in New Jersey.



Your research should start by pinpointing whether or not a company holds a license to operate in New Jersey. By working with an insurance firm who can legally operate in your state, you have the option to reach out to your state insurance department opens in a new window in the event that a problem with the company arises.



It is a good idea to obtain price quotes from at least three companies before making a decision about which company to use. That way, you have a way to compare prices and see which one best suites your personal budget.


Financial Stability

You need to select a company that is going to be around for years to come as opposed to one that may close its doors without warning – taking your money in the process.


Customer Service

You want to select an insurance company that promptly responds to any questions or concerns that you may have about your policy at any time. Providing quality customer service in an efficient manner will serve as a tremendous benefit in the event that you ever need to file a claim with that company.


Comfort Level

You want to find an insurance company that eases any concerns that you have or quiets any fears that come to mind. It needs to be a company that you can easily reach whether you purchase a policy online, through a local agent or over the phone.

The key to finding the right insurance company for you is to visit several agencies to see which one is the right fit. You can also research companies and read customer reviews to gain a feel for how a particular insurance company treats customers.


How to Select an Insurance Policy Deductible

Yellow Office Folder with Inscription Insurance Plans.

A policy deductible is the financial amount you are willing to pay out of your pocket before the insurance company steps in and makes a claim payment on your behalf.

The deductible amount that you select can increase or decrease your monthly premium payments. An excellent starting point when selecting your policy deductible opens in a new window is to find an amount that you can comfortably afford.

Carrying a high deductible on an insurance policy will work to reduce the monthly premium amount that you pay. However, it can cause significant financial strain if you are unable to afford that deductible along with your other financial obligations should you ever need to file a claim. For that reason, you need to strongly consider selecting a lower deductible even though it makes your monthly premium payments higher.


Auto Policy Deductibles

Certain aspects of car ownership, such as theft or vandalism, are impossible to control. Therefore, you would not save money by having a high deductible on your comprehensive coverage.

Instead, look at raising the deductible on your collision coverage. You can take steps to avoid being in an accident much easier than you can prevent someone from vandalizing your car.


Homeowner Policy Deductibles

The deductible amount that you select for a homeowners insurance policy will have little effect on the premium amount that you pay each month. If a higher deductible amount creates a financial burden, you should select the lowest amount that you can comfortably afford.

Certain mortgage companies are starting to require that homeowners maintain a minimum deductible of $1,000 before they agree to issue a mortgage loan.

If you select a higher deductible, you may want to consider opening a savings account that can help pay that deductible in the event you need to file a claim.


Understanding Personal Umbrella Insurance

Personal umbrella insurance opens in a new windowworks as a supplement to your primary insurance policy by extending your coverage levels and making financial payments on your behalf.

These payments work to protect your assets and prevent you from enduring a financial hardship as a result of an accident or injury to another person.


Why It Is Important

When you cause injury to another person or damage to a property other than your own, the injured parties can take legal action to gain possession of your assets.

Having a personal umbrella insurance policy enables you to make financial restitution for the damages instead of sacrificing your personal assets. The absence of an umbrella insurance policy would likely have a significant financial impact on your life.


What It Covers


Personal umbrella insurance extends your level of coverage protection beyond what your traditional insurance policy covers. You receive coverage for bodily injury liability when causing injury to another person.

Any property damage that you cause to another person’s property will also have financial protection under this policy type. You will also have coverage for legal aspects such as situations of false arrest, slander and any legal fees you may incur as a result of damage that you cause.


How It Works

When you file an insurance claim and pay your policy deductible, your insurance company pays any remaining balance on that claim. Those payments will only extend up to the coverage amounts of your policy.

At that point, your personal umbrella insurance policy goes into effect and begins making payments on your behalf. The policy continues making payments until the financial obligation is complete.


Gain Insight Into Motor Vehicle Insurance

It can be tempting to go through life without having car insurance. You may think that you can control your driving, which works to reduce the chances of your involvement in a car accident.

While this may be the case, you are not responsible for the other drivers that you face on the road. One accident is all it takes to permanently damage your car beyond repair.

Think for a moment about the daily burden you would face without having a car to drive. For that reason, you need to carry car insurance opens in a new window for the entire time that you own a motor vehicle. Having coverage in place is a requirement in every state.

It is also required by a large portion of financial lenders that seek to provide you with a car loan. A typical policy coverage period is for six months, and you will make a monthly premium payment in exchange for the coverage.


What a Basic Policy Covers

Auto insurance provides you with bodily injury protection when your actions directly cause injury to another person, whether you are behind the wheel of your car or another person’s vehicle. Personal injury protection helps cover the financial responsibility of your actions causing bodily harm to the occupants of another car.

A basic insurance policy will also cover any damages you cause to property belonging to another person. That coverage extends to include any person who has permission to drive your vehicle as well.

Your basic coverage will include damage to your car as a result of being in a collision, coming in contact with an object or hitting a pothole on the road.

Comprehensive protection covers non-collision-related damage to your car, including acts of vandalism, theft or coming in contact with an animal while driving. Under a basic car insurance policy, you can also receive protection from accidents where the other drive does not have insurance in place.


The Necessary Coverage Amount

Each state requires drivers to have car insurance in place when operating a motor vehicle. You must carry the minimum amount of liability coverage so that you have protection in the event of an accident.

  • Liability

The amount of liability coverage on your car insurance policy depends on your residential state. Your liability coverage includes bodily injury, personal property damage and medical payments.

  • Comprehensive

Comprehensive coverage requirements look at the fair market value of your car and the cost an insurance company would pay to repair that car. You can expect to have a deductible in the amount of $100 to $300 per policy.

  • Collision

Collision coverage offers a minimum deductible amount of $250 to $1,000 per vehicle incident. The amount of coverage you receive depends on the fair market value of your car at the time you purchase the insurance coverage.

  • Uninsured Motorist

Uninsured motorist coverage is an optional policy purchase in most states. The amount that you pay is a matter of personal preference and centers on what you can comfortably afford to pay.

Consider purchasing more than the minimum amount that your state requires, as the cost of most car accidents will far exceed this amount. Having the most basic coverage may leave you with a significant financial burden once the insurance company pays its share.


Understanding Gap Insurance

When you purchase a vehicle, it begins to depreciate the minute you drive away from the car dealership. That means that the loan amount you have on the car may be more than the value of the car.

If your car sustains damage beyond repair, there may be a significant financial difference between what your insurance company pays for the car and the loan amount you have to pay to the lender. Gap insurance steps in and covers the financial difference between the value of your car and the outstanding loan amount with your financial lender.


Uncover the Facts About Motorcycle Insurance

Biker First-person view

A motorcycle insurance policy provides you with protection coverage when you are out on the open road. When purchasing this type of insurance policy, you need to look for one that provides you with the minimum requirements for your state as well as any additional coverage that you desire.

Your insurance agency can help you select coverage that meets your state requirements. Take a look at the coverage options that are available to you.

  • Liability

Your liability coverage protects you against any bodily injury or property damage that you cause to other individuals while operating the motorcycle. It does not give you coverage for injury to yourself or damage to your bike.

  • Comprehensive

Comprehensive coverage protects your motorcycle from damage such as vandalism, theft or acts of nature. Your policy will only cover repairs to the factory standard parts of your motorcycle. Custom pieces do not receive coverage.

  • Collision

Collision insurance gives you protection when you collide with another vehicle. The coverage pays for damage to your motorcycle and any total loss you incur.

  • Uninsured Motorist

Uninsured motorist coverage protects you from the cost of physical injuries or motorcycle damage that another driver without insurance causes you. You also receive protection against drivers with inadequate insurance coverage in place.


Cost Saving Tips for Motorcycle Owners

As a motorcycle owner, there are steps you can take that will help reduce the cost of your insurance premium. You can start by maintaining a good driving record with minimal traffic violations.

Consider taking a motorcycle safety foundation riding course or having ‘lay-up’ coverage in place. Lay-up coverage reduces your premium payment for the months your bike may not be in use, such as during the winter.


Understanding Classic Car Insurance

Your classic car opens in a new window needs to have a policy in place that reflects the true value of this irreplaceable vehicle. You work with an insurance adjuster to determine the value of your car.

The insurance policy you receive provides coverage up to that amount, excluding depreciation. When obtaining a policy, you need to include a clause allowing you to take the car to a specialty restoration shop when repairs are necessary


Classic Cars That Need Coverage

There are certain requirements a car must meet before it can officially have the title of becoming a classic car. The process starts by determining that the value of your car exceeds the original sales price for the car.

Your car must also be at least 25 to 30 years old to qualify. Additional cars that can receive coverage include muscle cars, exotic or luxury automobiles and hot rod or modified vehicles.


Special Requirements for Coverage

When your car becomes eligible for classic car insurance coverage, there are several requirements and guidelines you must follow for the coverage to remain valid.

You may not use the car for normal everyday travel, such as running errands or commuting to work. Some insurance providers may restrict the number of yearly miles you place on the car as well. Travel to classic car shows is an acceptable practice providing that it is not a frequent occurrence.

You must store the car in a private facility that is not easily accessible by others. An example of this would be your home garage. Your driving record should remain free from traffic violations.

Additional requirements for classic car insurance coverage are at the discretion of each individual insurance company that offers this type of insurance.


Discover the Facts About Boating Insurance

Boating insurance is available as part of your homeowners insurance policy when the boat reaches less than 25 miles per hour. For larger boats, such as a yacht, you will need a separate insurance policy that specifically handles property damage for these vessels.

Your policy premium amount takes into consideration the size and type of boat you have, what type of water you will use it in and the total value of your boat.


What a Basic Policy Covers

Abandoned shipwreck on the coast at kata beach Phuket Thailand,

A basic boat insurance opens in a new window policy will provide bodily injury liability protection for you and other riders on the boat. You also receive coverage for any damage that you cause to another person or to someone else’s property.

An insurance policy typically includes coverage for someone that incurs damage while driving your boat, providing that person has your permission to do so.

Additional coverage options include theft, repairs for normal wear and tear, encounters with aquatic animals, equipment failure and defective machine parts. If your boat contains special equipment, such as sonar devices, you can ask about receiving coverage for those items as well.


What Is an Actual Cash Value Policy?

An actual cash value policy provides payment for your boat in the event a replacement is necessary. Your replacement amount is equivalent to the current used boat value for your boat at the time you incur a loss. There is a deduction on that price for depreciation.


What Is an Agreed Amount Value Policy?

An agreed amount value policy is in place when you and your insurance company determine the replacement value amount for your boat before you incur a loss. When the loss takes place, you receive a payment for that amount without having the depreciation value taken out as well.


Cost Saving Tips for Boat Owners

As a boat owner, there are things you can do that may help lower your monthly premium payment amount. You can start by storing Coast Guard approved fire extinguishers on board alongside ship-to-shore radios.

Consider using a diesel-powered motor instead of a gas-powered motor. The diesel motor is a safer option and has a lower likelihood of catching on fire. You can take an extra precaution by attending safety education classes through your local American Red Cross or Coast Guard Auxiliary unit.


Uncover Homeowner Insurance Protection Options

A homeowner insurance opens in a new window policy provides you with protection from events that you are unable to predict as a homeowner. It includes protection for accidents, such as your dog destroying the neighbor’s garden or a tree falling during a storm and crashing down on your roof.

Your policy will also give you coverage for the items inside your home and any damage that may take place, such as having your hot water tank explode in the middle of the night.


What Homeowners Insurance Covers

A standard homeowner insurance policy will provide you with coverage for any structural damage to your home and the personal belongings in your home.

Your policy will pay to rebuild or remodel your home when structural damage occurs. You also receive payment for any relocation expenses you incur while the renovations are taking place.

You will also receive liability coverage protection for any damage that you or anyone in your home causes to another person’s property. That coverage includes the family pets as well.

Most liability coverage protection starts at $100,000. However, you can ask your insurance agent for higher coverage limits if you desire. When someone sustains an injury while at your home that requires medical attention, your policy will reimburse you for those out-of-pocket expenses.


Why It Is Important

As a homeowner, you cannot possibly prevent every accident or injury that takes place on your property. The expenses from these events can quickly add up, placing a financial strain on you and your family.

Your insurance policy helps to alleviate the financial burden you may experience as a result of situations that catch you by surprise. It steps in to cover these expenses, while also handling any resulting legal actions that an injured party may take against you as well.


What is Flood Insurance?

Toy plastic house on the sand washes wave

Flood insurance provides coverage for damage that flood waters may cause to your home or your property. It is a separate policy from your standard homeowners insurance policy and is available through a select number of private lenders or the National Flood Insurance Program opens in a new window.

When your home incurs damage from a flooding situation, you receive payment for the current replacement cost value on your home and the actual cash value of the items inside your home.


Why Homeowners Need Flood Insurance

If you live in a designated flood zone, maintaining flood insurance is a requirement. For other homeowners, the insurance is optional. However, you need to consider the financial damages that flood waters can cause to your home and your property.

Damage can also occur from melting snow, an overflowing river or water running off of a nearby hill. The expenses quickly add up, causing a substantial financial strain on you and your family.


Understanding the Importance of Wedding Insurance

When planning a wedding, the last thing you want to include on that special day is an insurance policy. Yet, it is exactly what you need to include so that you receive protection from the things that can go wrong. Wedding insurance opens in a new window provides you with financial coverage for the issues that take place beyond your control.

Wedding insurance focuses on situations such as your reception vendor overbooking and not being able to accommodate you on your wedding day or the florist running out of the flowers that you requested.

Although the insurance is optional, you need to consider obtaining coverage so you have financial protection from the things that can go wrong with vendors and other suppliers on that day.


What It Does Not Cover

A wedding insurance policy will not cover you or your fiancé having a change of heart and deciding not to go through with the ceremony. You will also not receive coverage for any jewelry that you wear on that day or for your engagement ring. Your wedding rings will, however, receive coverage under this policy.


When to Purchase Wedding Insurance

You should consider purchasing wedding insurance right after making the first financial payment for that special day. When you book the reception venue or put a deposit down on your dream wedding dress, you should purchase wedding insurance to protect those investments and the ones you will be making in the near future.


The Final Thought


You can’t plan for the surprise moments that life throws your way. For that reason, you need various personal insurance policies in place.

Both homeowners insurance and car insurance give you protection for the most important assets you own. Boat and motorcycle insurance can help provide coverage for your experiences that bring relaxation into your world.

You can collect, care for and enjoy your classic car(s) with the protection of a relevant vehicle insurance policy. Wedding insurance allows you to start a new chapter in life without suffering a financial strain.

You can give yourself an extra layer of protection by taking out a personal umbrella policy. In the end, you have peace of mind that lets you focus on the things in life that you truly enjoy.

Call Marine Agency or check out our contact page opens in a new window today to speak with a friendly and knowledgeable (real and not automated) staff member who will explain the many ways that we can ensure you have insurance protection for the unexpected.

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Main Office

422 US Hwy 22 W, Unit 7
Whitehouse Station NJ 08889

Local: 908-838-9762

Toll-Free: 84-INSURE-NJ (844-678-7365)


9 AM - 5 PM , Monday - Thursday;

9 AM - 4 PM, Friday

Mailing Address

PO Box 125
Whitehouse Station NJ 08889

Local: 973-763-4711

Toll-Free: 800-35-MARINE (800-356-2746)