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Tips for Buying Classic Car Insurance in New Jersey

Classic cars turn heads wherever they go. If you own one of those beauties, you most likely love to show it off, whether it’s on the open road or in a car show. No matter where you take it, there’s always the possibility of it getting damaged or someone being injured. Protect yourself with classic car insurance from a surety company in New Jersey. Here are some tips for getting the policy that is right for you and taking care of your investment.

  • Take pictures of your car, inside and out. Don’t forget to take pictures of the engine.
  • Get an appraisal of your vehicle from a professional. Remember to get a new appraisal after any modifications or renovations.
  • Work with your surety company in New Jersey to find an agreed value of the car. The actual value of your car may not take into your upgrades and the rarity of the car.
  • Make sure that you store your classic vehicle in a garage. Take pictures of your car inside the storage facility as a guarantee of how you left it.
  • Check your insurance policy for the mileage maximum that you’re covered. If you drive more than that, ask about a no mileage limit.

Don’t hide your car in a barn or storage shed because you don’t have insurance. Enjoy your work of art and show it off when it’s protected with the right policy.

What Happens If You Do Not Have Errors and Omissions Insurance

As an insurance agent, you are familiar with providing individuals and businesses with insurance coverage that will protect them against risks, but are you careful to ensure that you have the right insurance coverage for yourself as well? E&O insurance for insurance agents is of paramount importance if you want to minimize your financial risks and give yourself valuable peace of mind. If you are currently wondering whether you really need errors and omissions insurance, this is what could potentially happen if you do not purchase this type of coverage.

Expensive Litigation Costs

Even if you are a highly successful insurance agent, it only takes a single mistake to turn your business upside-down. Because you deal with highly sensitive information, you have the potential of making a professional error or omission that causes one of your clients to experience financial harm. If this happens, they could file an errors and omissions claim against you. If you do not have E&O insurance for insurance agents, then you will be fully responsible for all of your defense costs, even if it is determined that you are not guilty of committing an error or omission in your professional work.

Protect Your Business

In order to adequately protect yourself from potential errors and omissions claims, it is important to talk to your insurance agent about errors and omissions insurance coverage today.



AtMidwest – Keynote (license)

Surety Bonds Performance and Payment Providers

Surety bonds performance and payment plans are almost a necessity for many different construction projects. Designed to ensure that contractors and subcontractors will complete their work, these bonds are a great way to protect an unfinished project, but finding the right provider is essential.

What Are Surety Bonds?

A construction bond is a guarantee that certain work will be completed; if it is not, then the insurance provider will recompense the client for their loss. Anything from a natural disaster to economic trouble can halt a construction project, which is why bonds are so important.

Provider Qualities

A good insurance provider will offer a designated team for bonds, so that their customers can receive the greatest degree of experience and care possible. Programs should also be tailored specifically for a certain program, because every project is different and every contractor is unique. One size fits all plans arent usually a good idea.

Critical Needs

Bonds are extremely important for those in the construction industry, as well as many other sectors. They can also be good for contractors who must meet certain construction or installation deadlines, in addition to companies that work on public projects. They might need bonds to help protect their worksites and adjacent property. In some cases bonds are necessary to fulfill permit and licensing requirements. No matter what the reason is, its critical that builders get surety bonds performance and payment plans from quality providers.


photo credit: ykanazawa1999 cc

Surety Bonds Are a Promise to Get the Job Done Right

A surety bond is a guarantee by a third party that a business or individual will deliver on a job according to the agreed-upon terms. In some situations a bond is required by law, but acquiring a surety bond in New Jersey even when it is not strictly necessary assures the public that that the company is responsible and reliable. Contractors get bonded to ensure that projects are handled competently and completed in a timely manner. Bonds commonly associated with construction include:

  • Bid bonds. These guarantee that a bid for a project is submitted in good faith and that the work will be done as promised.
  • Performance bond. This bond protects owners from financial loss in the event a contractor fails to finish a project.
  • Payment bond. According to this agreement, people working with a contractor, such as a supplier, will get paid even if work is interrupted.
  • Labor and materials. This is typically sold in conjunction with a performance bond, and covers cost of equipment.
  • Maintenance bond. This bond guarantees against defective work for a specified time after completion of the job.

Bonds Protect the Public

While a surety bond in New Jersey is not intended to protect a contractors and other businesses from financial loss, it benefits them in important ways. Bonds let people know that a business is invested in making good on its promises.


photo credit: a_sorense cc