Medical Insurance in New Jersey

March 23, 2016

It is required by the law for employers to give their employees some sort of medical and health coverage to answer for any health concerns they might have. These plans, commonly referred to as group insurance, are a generic formula that an insurer provides to give employees of a certain company at least the minimum coverage requirement. While some people might think that getting insurance from their employer might seem like enough already, there are those who seek individual health insurance plans from companies like to further optimize their coverage to fit their needs. Wondering what the differences between group and individual medical insurance in New Jersey are? This simple list should give you a better idea.

The Differences Between Group and Individual Medical Insurance in New Jersey

  1. Individual Insurance is More Personalized – You have to keep in mind that when your employer purchases insurance for his employees, they might not take each and every single one of you into account. This means the insurance you get might not be the perfect one to fit your needs or preferences. Oftentimes, an employer will only avail of coverage that meets or satisfies the minimum requirement that the law mandates them to avail for their employees. That said, there might be some medical services and expenses that will not be covered by a group insurance plan. If you choose to avail of individual medical insurance in NJ, you can personalize the coverage, the cost, and the other specifics of the policy to better fit your needs.
  2. Group Insurance can be Affected by Employment Changes – Let’s say you shifted from a full time shift to a part time shift because of certain personal decisions. You can expect that your employer-granted medical insurance will take a significant blow. When there are changes to your job, your assignment, your work schedule, and even your employment status, your group health insurance will also have to see a few changes. This is because your group health insurance isn’t tied to you, but to your job.
  3. Employers Will Pay for Part or Whole of the Premium – When you get your insurance plan from your employer, they will pay a large chunk of the premium. This means you can enjoy the benefits of health coverage without having to shell out too much from your own pocket to meet the monthly premium rate. Some employers will pay for the premium partially and then cover the rest of the expense straight from your paycheck, or they can pay for the premium all together. It depends on your employer’s rules and regulations, so you best look into those and ask around to find out more about the payments being made.

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Property Insurance in New Jersey

Many people just feel safe owning property insurance in New Jersey but often struggle with the process of filing a claim. While it is nice to have property insurance to keep you safe from steep expenses, it’s no good if you have no idea what to do when the time comes that you need to ask your insurance provider for financial assistance. If you want to know how to file a claim with your renter’s property insurance from, these helpful steps will better prepare you for that point in the future.

How to File a Claim with Renter’s Property Insurance in New Jersey

  1. If It’s a Crime, Report it to Authorities – Because your insurance provider was not at the scene of the crime when things happened, it’s likely that they will ask you for proof of the occurrence. To make your claim stronger and to protect yourself from further damage, report the incident to the police if it involves theft, vandalism, or burglary. File a formal police report, get a copy of the documents, and write down the names of all the people involved.
  2. Call Your Agent – Of course, to be able to make a claim, you should call your insurance agent or provider. This would be the time to ask them any questions you have about the process of making a claim with your property insurance in NJ. Some questions you should think to ask include how long do you have to file a claim, does your policy cover the incident that occurred, does the claim exceed the agreed deductible, and how long should you wait before the claim is processed.
  3. Write Down a List – The only way you will be able to find out the value of what you lost is if you write down all the items that were damaged or stolen throughout the course of the event. Take photos of any damage to have solid proof on hand if and when your insurance provider requests that you present it.
  4. Keep Receipts – If you have additional living expenses coverage and your apartment or rental is deemed unlivable because of the event, make sure you keep the receipts for services, lodging, food, and other living expenses that you may have incurred. This will make it easier for you to get the appropriate reimbursement from your insurance provider.
  5. Ensure You Have the Proper Claim Forms – Once you’ve made the request to file a claim, an insurance provider like this will send you a bunch of claim forms. Complete the documents and supply the necessary related paperwork and see to it that you send back all of the forms before they’re due.

Automobile Insurance in New Jersey

March 20, 2016

Automobile insurance in New Jersey isn’t quite as simple as many people tend to think. There are numerous considerations you have to make before you buy coverage from somewhere like to make sure that what you buy is actually what you need. If you’re not exactly sure what you should do prior to signing that contract, think about these pointers to help you along the way to securing the right deal.

What to Do When Buying Automobile Insurance in New Jersey

  1. Ask Around – Before you secure a deal, make sure you request a quote from several NJ automobile insurance providers in your area. Make comparisons of the values you’re given – these are the estimated premiums you will have to pay under each provider. Depending on the coverage you’re getting, your premium could be higher or lower. While this is not yet a fixed value as it is only an estimate, keep in mind that no insurance provider should give you a quote that’s low just to be able to secure you as a client.
  2. Double Check Your Documents – Before you submit any documents for processing, make sure that you have all the information right. The last thing you want is to find out that your insurance policy isn’t actually under your name. Also make it a point to request a signed copy of the documents you submit to ensure that if ever anything gets lost on your insurance provider’s end, you have something to backup your request.
  3. Secure a Binder – When you buy automobile insurance in New Jersey, you will have to wait a certain period of time before you get the policy itself. In the meantime, you will be given a binder as proof that you bought coverage from an insurance company. This should include the basic details of your policy as well as your name and the name of the company underwriting your insurance. Hold on to this until your policy arrives, so that if in case it doesn’t make it to your doorstep, you have proof that you actually had a transaction with the company.
  4. Make Your Payments to the Company – Whenever you issue a payment for your auto insurance in NJ, always make sure that you send the money directly to the company underwriting your policy, not your agent or broker. There are a lot of stories of insurance fraud that involve individuals making the mistake of funneling payments to unauthorized individuals, and this will help you steer clear of those incidents.