Four problems you could face if you don’t have commercial insurance

Commercial insurance can save business owners from a lot of potential problems. If you are a business owner in Tinton Falls, NJ, we can come to your assistance regarding your commercial insurance needs at York Jersey Underwriters Inc.

The following are four problems you could face if you don’t have commercial insurance: 

Losses due to theft or vandalism

Commercial insurance provides protection against losses caused by theft or vandalism. This coverage ensures that businesses can recover financially from stolen property or property damage caused by acts of vandalism, helping to mitigate the financial impact of such events.

Costly lawsuits due to liability issues

Lawsuits can lead to huge expenses for businesses. That’s why it’s so important to carry commercial insurance that protects against lawsuits resulting from liability issues.

With commercial liability coverage, businesses can get legal costs covered if they face a lawsuit. 

Difficulties securing business loans

Acquiring capital is important for growing a company. As companies grow, they typically look for investors and business financing.

Carrying commercial insurance can make a company more attractive both to business loan lenders and investors. Your company’s commercial insurance policy can therefore make it easier to acquire financing. 

Difficulties attracting customers

Carrying commercial insurance can also make companies more attractive to prospective customers. Customers will view your company as more professional and reliable if your company carries commercial insurance. 

Consult With Us

Call us today at York Jersey Underwriters Inc. to get a quote on a commercial insurance policy. Invest in the future of your company in Tinton Falls, NJ with a commercial insurance policy that protects you against the financial risks that you face as a business owner. 

The Many Auto Insurance Options

Some insurance commercials tout customized car insurance, but every insurance company offers that. When you enter your information, such as your vehicle identification number (VIN), name, and address, York Jersey Underwriters Inc. automatically offers you full coverage insurance. You can add or subtract coverage as long as you leave the NJ state-mandated coverage in place.

Basic Coverage: What You Must Legally Keep

Whether driving in Tinton Falls, NJ, Newark, Trenton, or any other location in the Garden State, you must carry valid auto insurance that fulfills the state’s minimum requirements. That means you must keep the following:

  • Property damage liability in the amount of $5,000 per accident
  • Personal injury protection (PIP) in the amount of $15,000 per person per accident
  • PIP coverage of up to $250,000 for specific serious injuries.*

The serious injuries specified under PIP include disfigurement, significant or permanent brain injury, or spinal cord injury. Other significant injuries requiring medically necessary treatment at an acute care facility or trauma center immediately following an accident also fall into this category. The policy only covers acute care/trauma center care until the patient’s doctor determines they are stabilized and can transfer to another facility.

Standard Coverage: A Better Choice

The 5/15 coverage comprises the NJ Basic Policy, which the state only recommends to those with few family responsibilities and assets. Most individuals choose at least the standard policy offered in New Jersey, then add to it as needed. The standard policy comes closer to the state minimums of other US states by including:

  • Bodily injury liability coverage in the amount of $25,000 per person per accident
  • Bodily injury liability coverage in the amount of $50,000 for all persons per accident
  • Property damage liability coverage in the amount of $25,000 per accident
  • PIP coverage in the amount of $15,000 per person per accident
  • PIP coverage of up to $250,000 for specific serious injuries.*

The standard policy PIP includes the same specific serious injury coverage as the basic policy. In New Jersey, you can have your insurer add uninsured/underinsured motorist coverage to a standard, but not a basic policy.

Options We Automatically Offer

At York Jersey Underwriters Inc., we automatically include comprehensive and collision coverage in our insurance quote for you. This lets you consider these important policy options that protect your vehicle. If you hit a fence, for example, collision coverage pays for the repairs to your vehicle. Comprehensive coverage handles items like theft of the vehicle or damage from hail.

What You Can Also Add to a Policy

You can add other auto insurance options, such as roadside assistance coverage. Roadside assistance provides similar services to auto clubs, such as a tow truck when you need it or fuel brought to you on the roadway if you run out of gas.

Contact Us Today

Contact York Jersey Underwriters Inc. to create your custom auto policy. Drive New Jersey roads with an auto policy that protects your financial security.

What home insurance do you need?

When most people visit the York Jersey Underwriters Inc. offices to talk about home insurance, they think we offer one policy. The insurance industry in the United States offers eight different types of home insurance policies, though, so you can obtain the precise coverage you need for your home. Let’s consider your options so you buy the perfect home policy for your home.

The Eight Types of Home Policy

In insurance, we pride ourselves on precision, so the industry offers eight types of home policies, four of which apply to newly built or existing homes. We also offer one type for historic homes and three others for other types of housing, including condos, mobile homes, and renter’s insurance. Here’s a quick guide to the home insurance types.

  • HO-1 – covers 11 named perils and may or may not cover personal belongings.
  • HO-2 – covers 13 named perils and personal belongings.
  • HO-3 – covers most named perils except those specifically excluded in the policy and limited personal property coverage.
  • HO-4 – called renter’s insurance, this home policy protects the personal belongings of the individual renting a home owned by another person.
  • HO-5 – offers the broadest named perils coverage and personal property coverage.
  • HO-6 – covers condos from named perils and personal belongings.
  • HO-7 – mobile home coverage that covers the same 11 named perils as an HO-1 policy while the home remains immobile and attached to a foundation, such as piers and pilings.
  • HO-8 – specifically designed to cover historical homes and architecturally significant structures from 11 perils.

What type of home policy do you need?

York Jersey Underwriters Inc. offers the home insurance you need to protect your home and belongings. Contact us today to purchase the home insurance that protects you from financial loss. We serve all over the United States.