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Sloan Insurance Agency

33 2nd St
Elmer, NJ 08318

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Is It Time to Review Your Auto Insurance Policy?

If you’ve had your auto insurance policy for at least a year and haven’t reviewed it or made any adjustments, it may be time to look. At Sloan Insurance Agency, we help policyholders in the Elmer, NJ area find the right coverage for their specific needs. One of the ways we can do that is through reviewing your policy with you to find any areas where a change might be a good idea.

Our dedicated professionals will make suggestions and discuss why changes to your policy could be the best choice. Then, we’ll help you implement those changes if you want to make them or address any other concerns. There are some excellent reasons to review your policy, but it should also be done yearly, even if you don’t have any big life events that could affect your coverage.

Other good reasons to review your auto policy include adding a driver, getting a different vehicle, moving to a new location, changing how much you drive or how your vehicle is used, and other factors. You don’t want to end up without adequate insurance, and our agents are here to help reduce that risk. Then you not only have the right coverage for your needs, but you also have the peace of mind that comes along with that coverage.

If you’re in the Elmer, NJ area and need a review of your auto insurance policy, contact us at Sloan Insurance Agency today. We understand that insurance needs change over time, and we’re here to ensure you have the coverage that meets your needs. We’ll be happy to review your policy and make suggestions for a more secure future.

Understanding General Liability Insurance: Shielding Your Business from Claims

General liability insurance is one of the most common types of coverage that Elmer, NJ business owners buy to mitigate the risks of damages arising from claims. Sloan Insurance Agency delves into general liability insurance, its coverage, and how it protects businesses from claims.

What is general liability insurance?

General liability insurance is a type of insurance policy that protects businesses against bodily injury and property damage claims.

What does general liability insurance cover?

Every general liability insurance policy differs, but most cover bodily injury, property damage, personal injury (including libel and slander), advertising injury, and contractual liability. If a customer slips on your premises and gets injured, your general liability policy kicks in to cover medical expenses. In another scenario, if one of your employees accidentally breaks a customer’s computer while performing their duties, the policy could help cover the damage costs. Some policies also cover claims arising from subcontractors working for the business.

Why is general liability insurance essential?

General liability insurance is an essential tool for shielding businesses from costly claims. Even the most careful businesses may inadvertently cause injury or damage, leading to claims. General liability coverage ensures companies can continue operating while navigating the legal process, thus preventing bankruptcy and financial ruin.

How much general liability insurance do you need?

The amount of general liability insurance needed would depend on the size of your business, industry type, and risks associated with your company. One million dollars can be enough coverage for small businesses, while larger entities may need more.

All businesses in Elmer, NJ are vulnerable to claims regardless of their operation size. Protecting your business from such claims is essential to avoid financial ruin. Contact Sloan Insurance Agency today to get the coverage you need.

How Does Adding a Security System Affect Your Home Insurance?

Across the United States, a burglary occurs about once every 30 seconds, and there’s no telling when your Elmer, NJ home might be next on a burglar’s list. However, you’re three times less likely to experience a burglary if you equip your home with a security system.

But how might installing such a system affect your home insurance policy? At Sloan Insurance Agency, we can help you make the best possible coverage decisions for your home. In the meantime, here’s a closer look at the relationship between home insurance and home security systems.

What Happens to Your Insurance When You Install a Security System?

Some homeowners assume that installing a security system might raise their insurance rates, as they’re technically improving their homes by doing so. However, the opposite is usually true.

Remember, a home with a security system is up to three times less likely to wind up burgled. And since many security systems mean the house will be professionally monitored moving forward, and there’s also a lower likelihood of that home sustaining other types of damage.

All of this means the homeowner is significantly less likely to file a claim, which typically adds up to savings. Those savings could be significant depending on your policy and your choice of security systems.

What Counts as a Security System?

While any security measure may help you with home insurance, it should make sense that the more robust the system, the better the benefits. For example, installing deadbolts or intelligent locks on your doors can help, but not as much as a full-service security system.

The best benefits come from systems involving diligent professional monitoring, motion sensors, and similar features. But it’s generally still a good idea to speak with an experienced insurance agent before definitively deciding on a particular option for your Elmer, NJ home.

At Sloan Insurance Agency, we’re happy to help you make wise decisions about your existing and future homeowner’s insurance. Contact us today, and let us know how we can assist!

When Does a Contractor Need to Buy Workers’ Compensation Insurance?

If you’re a contractor with at least one paid employee, state law requires that you have workers’ compensation. This insurance protects both you and your employees. If you’re a contractor or a sole proprietor who serves  Elmer, NJ, the Sloan Insurance Agency can help you find insurance that complies with the law.

Benefits of Having Workers’ Compensation Insurance

Workers’ compensation usually protects you and your assets from lawsuits by employees who suffer work-related injuries or illnesses. If you do not have this insurance, you are subject to fines.

Workers’ compensation is designed to give medical coverage to employees who are injured on the job. And if a worker’s injuries cause the loss of wages, this insurance may replace the pay.

This coverage may also give disability benefits to employees if they’re permanently disabled due to a job-related injury or illness. Additionally, rehabilitation for medical and job retraining needs may be available.

Interstate Work and Considerations in Determining Premiums

Maybe you’re a contractor with headquarters in another state. If you or your employees work in New Jersey or if the contract for that work was signed in that state, you need to have workers’ compensation through a New Jersey insurer. The premium you pay for workers’ compensation is based on the type of work you do; your claims record as an employer, and the size of your payroll.

Contact The Sloan Insurance Agency

One part of having a business that runs fairly smoothly is having insurance. That way, you and your employees have some help in the event of accidents or illnesses. The Sloan Insurance Agency, which serves Elmer, NJ, can help you purchase workers’ compensation insurance. Contact our agents today.

Classic Car Insurance Terms to Know

At the Sloan Insurance Agency of Elmer, NJ, we know that insurance policies contain some complex terminologyWe deal with these terms daily, but our clients don’t, so we put together this short primer on classic car insurance terms you need to understand before purchasing your policy.

Diminishing Deductible

Some policies offer a diminishing deductible that reduces either annually or according to another specified term, such as every three years or every five years. The diminishing deductible requires that you remain claim-free for the year; we apply it at your annual policy renewal.

Limited Use Coverage

Classic car insurance limits the mileage you can accrue in the vehicle. Limited use coverage offers a lower premium for driving below the mileage limits, typically 5,000 miles or less per year. Some classic car insurance limits driving to 1,000 miles per year.

Agreed Value Coverage

When purchasing classic car insurance, your vehicle undergoes an evaluation to ascertain its value. You and the insurance company agree to this specific valuation as the amount you will receive if your vehicle gets totaled in an accident. Not all policies use agreed-value coverage.

Actual Value Coverage

Very few classic car insurance policies offer actual value coverage. However, you should still know that if you see this in your potential policy, it refers to a depreciated value of your vehicle. Actual value uses Blue Book depreciation value and wear and tear when determining the valuation of a damaged or totaled classic car.

Stated Value Coverage

Stated value coverage seems like agreed value coverage until you read the fine print. With stated value coverage, you bring your insurance company legal documentation proving the value of your classic car. That’s the value you insure it for, but the insurer can choose the lesser of actual cash value or stated value if you file a claim.

Contact Sloan Insurance Agency Today for Classic Car Insurance

Let Sloan Insurance Agency help you insure your classic car. We serve Elmer, NJ, and the surrounding communities. Contact Sloan Insurance Agency today.

How to Get Your Motorcycle Ready for Spring/Summer Riding in New Jersey

It’s time to think about getting your bike ready for warmer weather. As well as preparing for fantastic afternoons spent cruising down the highway, this will help you maintain high safety standards, potentially saving you money on your motorcycle insurance. Include a review of your motorcycle insurance on your checklist for peace of mind before you hit the road this spring and summer. Our friendly agents at Sloan Insurance Agency in Elmer, NJ can help. 

Motorcycle Maintenance Checklist

You’ll want a mechanic to review your motorcycle and replace any worn or damaged parts that pose safety issues. If you schedule maintenance every six months, you’ll be in for a smoother ride and potentially increase the useful life of your bike. Put this at the top of your motorcycle maintenance checklist. 

Things to Check Before Every Ride

Learning about your bike includes self-inspecting some components every time you ride. Here are a few things you can do yourself or request at your local garage. 

  • Check the tire pressure.
  • Check the brake fluid.
  • Peek at the brake pads
  • Inspect your chain
  • Look at the fuel filter
  • Check the oil
  • Test your battery

If you aren’t handy with a wrench, leaving your motorcycle at the garage for a thorough inspection is a good idea. Then, head to Sloan Insurance Agency to discuss your insurance coverage.

Do You Need New Motorcycle Insurance in Elmer, NJ?

Inspecting your motorcycle each spring is essential, but it’s equally important to review your insurance coverage periodically. The helpful agents at Sloan Insurance Agency can review your current coverage and review additional options that may benefit you. Contact us today to make an appointment and get a quote for your motorcycle so you can cruise confidently and enjoy all the warmer weather.

Do You Need to Insure Your Boat When it’s Out of the Water in Elmer, NJ?

Boats can be expensive investments, so protecting them with the right insurance is essential. But how do you know if you need boat insurance when your boat is out of the water in Elmer, NJ? This blog post will discuss the coverage you need and how Sloan Insurance Agency can help.

What Types of Insurance Are Available? 

The type of boat insurance you need depends on several factors, including the size and value of your boat and where it is located. Two types of coverage are available for boats—liability and physical damage. 

Liability Coverage 

If you own a boat, consider purchasing liability coverage. This will cover any costs associated with property damage or bodily injury that your boat or its operation may cause. It also protects against legal defense costs if necessary. Liability coverage typically includes a deductible and limits on any payments made by the insurer. 

Physical Damage Coverage 

Physical damage coverage protects your boat if it is damaged by an accident or other unforeseen event (such as theft). This includes accidents caused by another person, natural disasters, vandalism, and collisions with other boats or objects in the water. Depending on your policy, physical damage coverage may also include repair costs for mechanical breakdowns or engine failure.

Do I Need Insurance When My Boat Is Out of the Water? 

Yes! Even if your boat is out of the water and not being used, it still needs to be insured because it can still suffer from theft or vandalism while not in use. Also, some insurance companies require that boats remain insured even when they are out of the water for extended periods (e.g., during winter).

If you have questions about insuring your boat when it’s out of the water in Elmer, NJ, contact Sloan Insurance Agency.

What does umbrella insurance cover?

Umbrella insurance from the Sloan Insurance Agency is a type of policy that provides additional liability coverage to protect you from catastrophic loss in the Elmer, NJ area or anywhere else. It helps you cover the costs associated with personal injury lawsuits and other legal fees if you are found liable for an accident or situation that exceeds the limits of your existing homeowners, auto, or business insurance policies.

Umbrella insurance can help pay for damages like property damage, medical expenses, legal defense costs, libel or slander claims, and more. It also covers situations where you may not be legally liable but still have financial responsibility for another person’s injuries or property damage. This can include paying for a third party’s medical bills after an accident on your property.

It’s important to note that umbrella insurance does not cover all losses. Generally, it does not cover personal property damage or repair costs for your car or home. Additionally, it won’t cover intentional damage caused by you or someone in your family.

Umbrella insurance kicks in when the liability limits of your existing policies are exceeded. For example, if you’re found legally liable for an accident that causes $100,000 in damages, your auto insurance only covers up to $50,000 in liability costs. Umbrella insurance could cover the additional $50,000.

Umbrella insurance is a smart way to protect yourself from catastrophic loss and give you the peace of mind that you are covered if the unexpected happens. It can be an invaluable addition to existing auto, homeowners, and business liability policies and help ensure you are prepared for anything life throws at you. Consider speaking with Sloan Insurance Agency today to determine if umbrella insurance suits you. We proudly serve the Elmer, NJ area.

Winter Riding Tips

In New Jersey, like most northern states, motorcycling is typically a three-season thing. You get your bike out in the spring and put it away in the winter. But just as bicyclists keep churning away all winter long, there are also those dedicated souls to their motorized two-wheeled transportation.

Here are some tips for your winter riding from Sloan Insurance Agency. We serve Elmer, NJ with local pride.

Make Sure Your Helmet Is Ready For the Ride

Anyone who wears glasses knows that cold, moist air can fog your lenses, destroying visibility. Fortunately, winter helmets are available with electric defogging or an antifog layer on their visor, so you don’t have to stop.

Wear Cold Weather Gear

Spring and summer riding gear is designed to pass as much air as possible to keep you cool. In winter, cooling tactics can lead to hypothermia and frostbite. Frostbite is worse even than a burn. Protect yourself with warm clothes that resist the wind.

On The Road, Make Yourself Visible

Motorcycles have low visibility even in the best conditions. In the winter, you can be even harder to see. Wear high-contrast colors that pick up and reflect headlights so you can be easily seen while driving. Your life might ride on your color choices.

Pay Attention To Yourself

Cold weather can do a number on your reaction time and awareness, and on a long ride in the cold, you need to be prepared to stop in a warm place to warm up, maybe even several times. Your body is the most important thing you have, so protect it.

Winter motorcycle driving can be an exhilarating experience if you’re prepared for it. Talk to Sloan Insurance Agency in Elmer, NJ for a free, no-obligation quote for your motorcycle policy.

Five Types of Boat Damages Your Insurance Can Help You With

Boating is an exciting and enjoyable activity for people of all ages. However, accidents happen, and when they do, the damages can be expensive and impede the fun. Fortunately, Sloan Insurance Agency serving Elmer, NJ, provides policies that cover common boat damages and help to protect you from financial losses. The following are the types of boat damages that most insurance policies cover.

1. Weather-Related Damages

Severe storms, floods, and other weather-related events can cause costly damage to your boat. It may be necessary to have your vessel towed and repairs made to the hull, engine, and other components. Your insurance policy can help cover the costs associated with these repairs.

2. Accidents and Collisions

Repair costs can be expensive if your boat is involved in an accident or a collision. Damage to the hull and other systems may require extensive repairs that are covered by most insurance policies.

3. Fire Damages

Fire on board a boat can be devastating and costly. Most insurance policies will cover the cost of repairs to your vessel and any personal items destroyed in the fire.

4. Vandalism

Most policies also cover vandalism on board a boat. This includes damage to the structure, paint, electronics, or other parts of your boat that were deliberately destroyed by someone else.

5. Theft and Piracy

Most insurance policies also cover theft or piracy of your boat. This can include the cost of recovery and replacing items stolen from your vessel.

Ensure Your Boat is Protected With Our Insurance Policies

Sloan Insurance Agency, serving Elmer, NJ, provides comprehensive boat insurance policies tailored to your needs. Our experienced agents can help you find the right coverage for your vessel, so you can enjoy peace of mind knowing that your boat and personal items are protected. Contact us today to learn more about our coverage options!