Monthly Archives: June 2014

We Offer The Hartford’s Pay-As-You-Go Workers Compensation Policy

Workers compensation policies are some of the most important insurance products you’ll ever need to purchase. However, you might have legitimate concerns about how this will affect your company’s cash flow. Many business owners are trying to maintain a healthy balance.

Workers Compensation

Source: Wikimedia

XactPay Xpress is a pay-as-you-go solution for workers’ compensation. It is offered by The Hartford, one of the leading insurance companies in the US. This company has provided workers’ comp in New Jersey ever since 1913, giving you a greater level of trust in our abilities.

There are several advantages to choosing this type of insurance option. One of the things this option does is reduce the amount of down payments required for premiums. This also eliminates the need for billing charges, placing less of a strain on these who handle the finances.

All premium charges are based on trustworthy payroll numbers, which minimizes the chances of costly audits. Another advantage that you’ll see right away is better cash flow management.

Worker injuries can carry severe financial consequences for companies. However, having access to reasonably priced insurance options can provide protection for both your workers and your company’s budget. Some of the expenses that this insurance covers include disability income, medical expenses for injury treatment and rehabilitation.

Schumacher Insurance offers a full range of products for your company, including workers compensation policies, contact us for more information.

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Let Us Help You With Your Condo Insurance Needs

Many people consider owning a condo to be similar to owning a house, and expect that insurance should also be similar for both groups. However, condominiums are quite different from houses and the insurance profile is also quite different. There are no basements or yards to worry about, and typically the condo owner doesn’t own the entire property, just a part of it, which has a large impact on how the insurance of the property works. Some policies even offer a number of benefits for condominium insurance.

Condo Insurance

Source: Wikimedia

For instance, most condominium insurance expects that all owners in the complex are collectively responsible for common areas, such as the hallways, stairways and recreational areas. It is the responsibility of the condo association to draw up a master policy and to clearly state which parts of the complex are insured by insurance dues and which are not, so that the condo owner can then take out suitable personal insurance.

Personal belongings insurance is the responsibility of the owner of the individual unit, and typically covers everything inside the unit that is not covered by the condo association’s master policy to protect the owner. Personal belongings cover should be able to cover the cost of replacing everything inside the unit, and can be specified either for all perils which will cover the owner against most types of damage, or specific perils coverage which will only provide cover after a specific risk, such as fire, smoke, vandalism, etc. This is typically cheaper than all perils cover, and if you’re in an area with clearly defined risks, it’s probably better to go with specific perils cover.

Condominium insurance is the way that you as a condo owner can protect your house and contacting a reputable agency will ensure that you get personalized and reliable cover.

Get Your Car Ready for the Summer Road Trip With These 3 Prevention Tips

With Schumacher Insurance, you can get insurance for all areas of your life, from flood to auto. Summer is here, and this is the season for traveling for trips and vacations. It is therefore essential that your car is safe and protected for the road. A few summer road trip tips can ensure that all goes well, with no problems when driving.

Car Insurance for Summer

Source: Smead.com

A few preventative measures will see that your car is in top working condition to drive long stretches of highway. So make sure it is ready to go.

First, take it to a mechanic for a full inspection. They can look at it properly and assess all parts. This time of year, the heat can take a toll on a vehicle, so it is vital that all areas are functioning correctly.

Being that this is summer, you will be using the air conditioning. So it is important to see that there are enough fluids in the car. You should also check the oil, brake, and transmission fluids. They help all parts to work smoothly and are needed during the hot season.

With all the preventative measures, it is also good to have an emergency kit in the car. This can include batteries, a flashlight, a blanket, and other essentials. Make sure to have your insurance, warranty, and contact information in case you need assistance on the road. Better to be safe than sorry.

These summer road trip tips will have you on the road in no time. With a car that is in proper working order, you can travel, see the sights, and make great memories with friends and family. Get your car inspected, then pack up, and hit the road.

For more information on Schumacher Insurance, contact us online.

Are You an Owner of a Rental Property? We Can Help You Keep Your Property Insured

New Jersey beaches are a getaway for so many people over the course of a summer. Homeowners in the resort towns already know the first benefit of renting units out as a great way to earn income, but there are more.

Renters Insurance

Source: Free Digital Photos

The second benefits come in the form of Landlord Tax. When you rent your home to another person, you can deduct quite a few things. Like depreciation on the value of your home. You can deduct rental loss, quite simply you can collect a portion of any rent loss due to non-payments and so on.

Following that, there is an entire laundry list of deductions. You can deduct the costs of cleaning, repairs, utilities, advertising, supplies, travel expenses, professional fees, interest and the most important tool any landlord owns, rental property insurance.

Under the insurance rules, rental property to be covered under personal insurance is a property owned by an individual, not a partnership, corporation or LLC. It must be rented to individuals as well. In a multi-unit structure, you can have up to four units and the property owner may live in one of them.

There are guidelines to follow, but in the end, they are in the property owner’s best interests. As there are benefits to renting, there are also dangers like theft from outsiders as well as tenants. That’s why it’s always best to speak with your insurance providers and in New Jersey, the provider you should talk to first is the Schumacher Insurance Group.

They know New Jersey, they know how many units are rented over the course of the summer and most importantly, they know the best rental property insurance for your situation. Take the time to call Schumacher Insurance and relax knowing that your property is in the safest hands in New Jersey.

3 Tips for Home-Based Business Insurance

Every business owner is aware that they need some type of insurance to protect them in case things go wrong. However, when it comes to home based business insurance, many people simply aren’t aware of what they need in order to stay protected. If you’re running a home based business, use these three tips to make sure you’re not financially liable if something does go wrong and to figure out how much coverage you need.

Home Based Business

Source: Free Digital Photos

Evaluate Your Homeowner’s Policy

Your homeowners insurance policy probably doesn’t provide coverage for things like merchandise if you sell a product from your home and stock it in a spare room or in the garage. Your regular policy won’t cover other types of things like personal or bodily injury if somebody is hurt while visiting your home based business – something that may happen on a very regular basis for some business owners.

However, if you’re doing something like graphic design or telecommunication, you may find that your homeowner’s policy covers enough in electronics that you’ll be protected. Evaluate your policy and your needs.

Add to Your Homeowner’s Insurance

Some companies that offer homeowners insurance will work with you to provide extra coverage for your business. You’ll obviously have to pay for this, but it can be an ideal way to discuss and determine your needs.

Consider an In-Home Business Insurance Policy

Adding on to your homeowners policy isn’t always the cheapest and it may not be enough if you have clients visiting regularly or have employees. If that’s the case, you need a special home based business insurance policy that offers total coverage. Rates will be determined based on your type of business and coverage needs.

Contact Schumacher Insurance Agency for more  on home based business insurance and for all of your insurance needs.

Annual Auto Insurance Rates vs. Monthly Auto Insurance: Which is Better for You…..

Auto insurance is something everybody with a car needs, but it can be a bit confusing. Auto insurance rates are the biggest problem for most car owners, especially those who are living on a budget.

Car Insurance

Source: Free Digital Photos

When it comes to auto insurance rates you pretty much have two choices – pay month or pay on an annual basis. While there are benefits to both, it can be difficult to know what’s best for you. Use the information below to help you pick out which billing cycle is best for you and your family when it comes to paying for auto insurance.

Annual Rates vs. Monthly Rates

The difference between annual rates and monthly rates should be fairly obvious. With annual rates, you pay for a whole year’s worth of insurance up front. Monthly rates allow you to break that down into 12 payments due at the same time each month.

Annual payments allow you to pay less over a full year. Monthly payments allow you to pay in easy installments.

Consider Your Finances

For some people, car insurance is a big chunk of their monthly income. If that description fits you, you may be better off paying monthly to avoid the hardship of shelling out a large amount of cash for an annual payment.

However, if your car insurance payment each month isn’t a burden, you may find that you can easily pay your annual rate without feeling strapped for cash.

What Discounts Does Your Insurance Provider Offer?

Before you decide on annual versus monthly payments, talk to your auto insurance provider to see what discounts tare offered. If it’s only a few dollars or it doesn’t make much difference for you, sticking to monthly could be your best bet.

Contact us for more information about auto insurance rates.

5 Tips for Understanding Your Business Owner’s Policies

It would be nice if you could just contact your insurance broker and ask them to give you an insurance policy and they would just provide you with the coverage you need. Sadly, that’s not the kind of world we live in. In order to ensure you’re business is properly protected, there are 5 things you need to keep in mind regarding business owner policies.

Business Insurance

Source: Free Digital Photos

Being a part of an association can help you earn a lower price on your business insurance. Being a member of some associations, such as the Chamber of Commerce often makes you eligible for a group rate.

Pay attention to how industry law suits have been settled. Legal changes in the industry can influence the amount of money you have to pay for your insurance premium. The same industry changes can also impact the amount of coverage you have.

Whenever possible, purchase a package. This can save you an enormous amount of money without limiting your coverage.

Make sure your working with an agent who has a strong understanding of both your business, and your industry. This type of knowledge means they’ll be able to help you make informed decisions about what business owner policies will be a good fit for your business, and help you get a good deal without sacrificing coverage.

Choose your insurance agent with care. When working with your insurance agent, you need to be upfront about the amount of assets your business has. The amount and type of assets impact the amount of business liability coverage you require to keep your business, employees, and customers safe.

If you find yourself in need of insurance, or have questions about your current business owner policies, you should contact us. We’re happy to help.

Do You Need Commerical Auto Insurance for Your Company? 5 Tips to Determine If You Need Commerical Auto Insurance

Getting auto insurance coverage it very important, but especially if your business operates on the basis of delivery or transportation services. When you provide services such as taxi, delivery or shipping, you are required to have insurance coverage which usually is the basic level of commercial liability insurance.

Taxi Cabs

Source: Wikimedia

Even if it is not a requirement in your situation, having commercial auto insurance can help protect your business from loss in the event of an accident while business is being conducted. In addition to liability insurance, you can also look into other additions to provide more protection for you, your drivers, and your business. Many insurance plans can also add on uninsured motorist coverage, collision coverage, and comprehensive coverage.

Once you know what commercial coverage your business needs, you can begin searching for the policy that is right for you and you can make sure that you are confident in the purchase choice that you make for your auto insurance coverage.

Here are five tips to keep in mind to help you decide if you need to get this type of  insurance coverage:

  • If your vehicle is used to transport goods or people as part of your business
  • If the nature of your work would deem it necessary or appropriate to have better insurance coverage than the basic coverage
  • Hauling a considerable amount of products, dealing in high weight loads, or other shipments that could be deemed hazardous
  • Having employees use vehicles and machinery under the company or owners licenses and certifications may make this insurance necessary
  • Many business end up being excluded from personal policies due to the nature of the work so commercial auto insurance may be necessary

For more information on this type of insurance and what it can do for your business, contact Schumacher Insurance Group today!

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