Workers Compensation Insurance for Employers and Employees

Workers Compensation Insurance is required for businesses with more than one employee. Bogle Agency Insurance has experienced and knowledgeable agents who can answer all your NJ Workers Compensation Insurance related questions and guide you toward the coverage you need as an individual or a business owner.

Full-time employees and part-time employees of a business are covered by Workers Compensation Insurance. That is, provided the employer has a Workers Compensation Insurance Policy in place. If you are taking a job in a precarious work environment, be sure there is an active Workers Compensation policy on record. The illness or injury must have occurred while an employee is at work. If you are involved in an accident outside of work you are not entitled to Workers Compensation.

Full-time and part-time employees are covered by Workers Compensation Insurance. Independent contractors are not considered employees and are therefore not covered. Independent contractors can buy their own Workers Compensation Insurance.

Talk To Bogle Agency Insurance About Workers Compensation Insurance

Bogle Agency Insurance provides a full line of NJ insurance options for businesses and individuals. Allow us to answer any questions you might have and ensure that you are covered by Workers Compensation Insurance when you need to be. We can be reached at (201) 939-1076, or visit us in Lyndhurst NJ.

Health Savings Account NJ | HSAs

Rising healthcare costs continue to be a concern for individuals and families across the United States. In this era of increasing medical expenses, having a financial tool that can help you manage healthcare costs while providing comprehensive health insurance coverage is invaluable. Enter the Health Savings Account (HSA).

Understanding Health Savings Accounts | HSAs

A Health Savings Account, or HSA, is a powerful financial tool that has gained popularity for its ability to assist individuals and families in managing the financial aspects of healthcare. It is typically coupled with high-deductible health insurance plans (HDHPs) and offers a multitude of benefits that can positively impact your financial well-being.

Tax Advantages Of Health Savings Account

One of the primary attractions of an HSA is its tax benefits. Contributions made to your HSA are tax-deductible, meaning they reduce your taxable income for the year. For example, if the maximum contribution allowed is $3,000, and you contribute this amount, your taxable income is reduced by $3,000. This reduction in taxable income can lead to lower income tax payments, putting more money back into your pocket.

Additionally, any interest or investment earnings within your HSA grow tax-free. This is a significant advantage over traditional savings accounts where interest earnings are typically subject to income tax. In an HSA, your money can grow and compound over time without being eroded by taxes.

Finally, when you use your HSA funds for qualified medical expenses, these withdrawals are also tax-free. This means that the money you’ve set aside in your HSA can be used to pay for medical bills without incurring additional taxes. It’s essentially a tax-free way to cover your healthcare expenses.

Lower Premiums When Paired With An HSA

HDHPs, often paired with HSAs, tend to have lower monthly premiums compared to traditional health insurance plans. This lower premium allows you to redirect some of the money you save into your HSA account, creating a financial safety net for future medical expenses.

Flexibility in Spending With An HSA

HSAs offer unparalleled flexibility when it comes to utilizing the funds. You can use the money for a wide range of qualified medical expenses, including doctor’s visits, prescription medications, dental care, vision care, and even certain over-the-counter items. Furthermore, there’s no requirement to spend the funds within a specific timeframe, allowing you to accumulate savings for future healthcare needs.

HSA Portability

Unlike some employer-sponsored benefits, your HSA is entirely portable. This means that even if you change jobs or health insurance plans, your HSA remains intact and accessible. This portability ensures that you can continue to use the funds for qualified medical expenses, providing a sense of stability in an ever-changing job market.

Retirement Savings With An HSA

HSAs harbor a unique advantage as a retirement savings tool. Once you reach the age of 65, you can withdraw funds from your HSA for non-medical expenses without penalties. While regular income tax still applies, this feature makes an HSA a valuable supplement to your retirement savings, providing tax-free distributions for healthcare expenses or additional income in retirement.

Control Over Healthcare Costs

With an HSA, you gain substantial control over your healthcare expenses. You can make informed decisions about when and how to use your HSA funds, empowering you to seek cost-effective healthcare options and even negotiate prices for medical services. This level of control allows you to align your healthcare spending with your financial goals.

In a world where healthcare costs are a growing concern, the Health Savings Account (HSA) emerges as a beacon of financial empowerment. Its numerous benefits, including the triple tax advantage, lower premiums, spending flexibility, portability, retirement savings potential, and control over healthcare costs, make it a versatile and invaluable tool for managing your healthcare finances.

Contact Bogle Agency Insurance

If you are in the market for a Health Savings Account (HSA), the experienced team at Bogle Agency Insurance offers sound advice and is always ready to guide you through the process. Call Bogle Agency Insurance today, we can be reached at (201) 939-1076.

Great Protection – Fair Price

Bogle Agency Insurance of Lyndhurst NJ offers Chubb Masterpiece Homeowners Insurance to NJ homeowners. We serve homeowners in Bergen County, Morris County and surrounding NJ counties. Chubb is a top American insurance carrier that offers a quality product to NJ homeowners to protect their most valuable asset, their home. In the interest of our clients, we offer the best coverage with the highest limits provided at a fair price. Chubb Masterpiece Homeowners insurance is a smart choice for NJ homeowners.

Top Coverage, Top Service

A Chubb Masterpiece Homeowners Insurance policy provides outstanding protection for your home as well as providing exceptional service. If you have a loss of any kind, Chubb will send an adjuster to assess damage right away. Processing of a claim is efficient and speedy. In addition to being covered by their excellent insurance, Chubb offers to inform policyholders of how best to prevent future losses. Insuring your home with Chubb Masterpiece Homeowners Insurance is a sound decision.

Professional Service – Great Coverage – Competitive Price

Bogle Agency Insurance offers Chubb Masterpiece Homeowners Insurance because we feel it is top-notch coverage for a fair price. New homeowners and long-time homeowners benefit from the excellent insurance coverage provided by Chubb. When considering Homeowners Insurance, call Bogle at (201) 939-1076 to speak with one of our knowledgeable agents about Chubb Masterpiece Homeowners Insurance.

Bogle also offers outstanding Automobile Insurance, Life Insurance, Pet Insurance, Personal Umbrella Insurance as well as numerous lines of Business Insurance.

What Is Umbrella Insurance?

Bogle Agency Insurance offers Umbrella Insurance to clients in NJ who want additional liability coverage beyond the limits of existing policies. Following is Umbrella Insurance explained for NJ individuals and families.  

Umbrella Insurance is a type of liability insurance that provides coverage over and above what your existing insurance provides. It is basically designed to protect you and your family from financial loss if you should suffer a catastrophic event and your other insurance policies don’t provide enough protection. By catastrophic event we mean possibly a major lawsuit or a fatal car accident, or any other occasion when your existing insurance policy just doesn’t cover you completely. This is where Umbrella Insurance comes in – to cover you like an umbrella. An Umbrella Insurance policy will cover you to much greater limits than most Homeowners or Automobile Insurance.

Do I Need Umbrella Insurance?

Umbrella Insurance isn’t required by law, but anyone who wants to protect their assets and financial security, it’s a good investment. It may be especially beneficial if you have significant assets, have a teenage driver, or perhaps are in a high-risk profession, such as doctors, lawyers, business owners.

If you have a large home, multiple automobiles, investment properties, etc., you may be at a higher risk of being sued for a lot of money. Teenage drivers are more likely to be involved in accidents and this can result in higher insurance claims. High-risk professions may put you at greater possibilities for malpractice or negligence lawsuits. Umbrella Insurance can provide additional coverage and protection beyond what you have in standard policies.

This type of coverage is important because it provides an extra layer of protection for your assets and financial security. Without Umbrella Insurance you could risk losing your home and savings in the event of a lawsuit. With Umbrella Insurance you know you have greater protection from the financial losses that exceed your other insurance policies. Also, Umbrella Insurance is usually affordable, making it a cost-effective way to protect yourself and your family from potential financial ruin.

Seek Professional Help

Bogle Agency Insurance agents always stand ready to discuss Umbrella Insurance, or any other type of insurance you need, and explain the pros and cons. We can help you decide what protection you need and then find the coverage that suits your situation. Call us at (201) 939-1076 for an appointment with one of our knowledgeable and experienced agents.

NJ Auto Insurance Premiums Differ Based On Several Key Factors

Auto insurance rates in NJ vary from person to person and vehicle to vehicle. That’s because several key factors influence the cost of auto insurance premiums. Understanding these can help you make informed decisions about your coverage and potentially save on your auto insurance.

Driving Record

Your driving record is one of the most significant factors affecting your auto insurance rates. Insurance companies consider your history of accidents, tickets, and traffic violations. A clean driving record with no accidents or violations typically results in lower NJ Auto Insurance premiums, as it demonstrates responsible driving behavior.

Vehicle Type

The type of vehicle you drive also plays a role in determining your auto insurance rates. Insurance companies assess factors such as the make, model, year, and safety features of your car. Vehicles with excellent safety ratings and security features may qualify for discounts, while luxury or high-performance cars might have higher premiums due to increased repair costs.

Age and Gender

Age and gender can influence auto insurance rates. Younger, less experienced drivers often face higher premiums due to a higher perceived risk. Additionally, statistics show that young male drivers tend to have more accidents than young female drivers, impacting their insurance rates differently.

Location

Where you live also affects your auto insurance rates. Urban areas with higher traffic congestion and a higher likelihood of accidents may result in higher premiums compared to rural areas. Additionally, areas with a higher incidence of car theft may lead to increased insurance costs.

Deductibles

The deductible is the amount you must pay out of pocket before your insurance coverage kicks in after an accident. A higher deductible generally leads to lower premiums, but it also means you will have to pay more in case of a claim so cheaper is not always better!

Yearly Mileage

The number of miles you drive annually is another factor that can influence your auto insurance rates. Insurance companies may consider how much time you spend on the road as it relates to your risk of being involved in an accident. Generally, drivers with lower yearly mileage may qualify for lower premiums as they have less exposure to potential accidents. On the other hand, frequent commuters or those who drive long distances regularly may see slightly higher insurance rates due to increased exposure to potential risks.

Auto insurance rates can vary significantly between insurance companies due to the multitude of factors considered in determining premiums. As an independent agency, our advantage lies in being able to shop around and compare quotes from various insurance providers to find the best policy tailored to your unique circumstances. With our expertise, you can rest assured that we will seek out the most competitive rates while ensuring you receive the coverage you need to protect yourself and your loved ones on the road.

Contact Bogle Agency Insurance
If you are in the market for Auto Insurance, the experienced team at Bogle Agency Insurance offers sound advice and is always ready to guide you through the process. Call Bogle Agency Insurance today, we can be reached at (201) 939-1076.

Protect Your Online Presence

We are all on the internet these days and the need for cyber protection is ever greater. People who want to steal your identity or your money are always at work. Bogle Agency Insurance provides outstanding cyber insurance coverage with Chubb Masterpiece Cyber Protection. We offer this insurance to residents in Bergen County NJ as well as surrounding NJ counties. Our experienced and knowledgeable agents are always ready to help you protect your online presence by providing information regarding cyber protection with Chubb Masterpiece Insurance.

Cyber Crime Is A Very Real Problem

With every passing day, cyber criminals are getting smarter and more adept at stealing your online information. Chubb Masterpiece Cyber Protection can shield you from identity theft, loss of financial security and the release of your personal information. Restoring all of these things can mean a long and difficult process, not to mention the emotional stress that is the result of these losses.

Experts Will Have Your Back

Bogle Agency Insurance offers Chubb Masterpiece Cyber Protection because we feel the coverage provided with this type of insurance should be a priority. Cyber protection becomes more important as you and your family become more dependent upon the use of the internet. We go online for banking, communication, shopping, travel and so much more. With Chubb Masterpiece Cyber Protection you have the benefit of experts in the field of cyber security to work with. To speak with one of our experienced agents about protecting your online activity, give us a call in Lyndhurst NJ at (201) 939-1076.

Various Types of Life Insurance

Life Insurance for NJ individuals and families can be available in various forms. A good option for homeowners with a mortgage is Term Life Insurance in the form of Mortgage Protection Insurance. This kind of Term Life Insurance helps protect your home if you suffer a financial hardship. This may be due to a death in the family, a serious injury or illness, or a temporary loss of income. Whatever the reason, Term Life Insurance in the form of Mortgage Protection Insurance is worth exploring. Bogle Agency Insurance, located in Lyndhurst NJ, has been serving individuals, families and businesses in Bergen County as well as surrounding NJ counties for over 100 years, let us help you find the best form of Life Insurance that would fulfill your needs. Protect your mortgage with NJ Term Life Insurance.

An alternative way to protect a mortgage is with Mortgage Life Insurance. There is a difference between these two options. With Mortgage Life Insurance, if you die the mortgage lender gets the balance of your mortgage and your survivors get nothing. With Mortgage Protection Insurance (discussed above in previous paragraph) the beneficiary of the policy who is someone you have chosen, would receive the proceeds which they can use in any way they like.

How Does Mortgage Protection Insurance Help Me?

Mortgage Protection Insurance can help you in the following ways:

1. Your mortgage can be paid off in the event of death.

2. Your monthly mortgage payments can be made during a family crisis such as injury or temporary loss of income.

3. Proceeds are tax-free to the beneficiary and can be used in any way they choose.

A Good Guide is Essential When Choosing Any Form of Life Insurance

If you are in the market for Life Insurance, professional guidance is worthwhile as there are so many forms of Life Insurance. The experienced agents at Bogle Agency Insurance offer sound advice and are always ready to guide you through the process. The knowledge that your home will be protected in the event of your decease or serious injury or loss of income, can bring peace of mind. Call Bogle Agency Insurance today, we can be reached at (201) 939-1076.

Floods are natural disasters that can cause extensive damage to homes and properties, leaving homeowners with significant financial burdens. While standard homeowners’ insurance may cover certain perils, it often excludes floods. That’s where flood insurance comes in.

Flood Facts:

1. Widespread Impact

   Floods are the most common and widespread natural disaster in the United States. They can occur anywhere, and even minor flooding can cause substantial damage to properties. Particularly, when there is no flood Insurance coverage. 

2. Exclusion from Homeowners’ Insurance

   Many homeowners are surprised to find that their standard homeowners’ insurance policies do not cover flood damage. Without a separate flood insurance policy, homeowners may be left with significant repair costs in the aftermath of a flood.

3. Costly Repairs

   The cost of repairing flood damage can be astronomical. The average flood claim amounts to tens of thousands of dollars ($44,401 to be precise), making flood insurance a valuable investment for protecting your finances.

4. FEMA Assistance

   While FEMA (Federal Emergency Management Agency) may offer disaster assistance after major floods, this aid is typically in the form of low-interest loans that must be repaid. Flood insurance provides a more secure and non-repayable means of financial protection.

The Importance of Flood Insurance

1. Comprehensive Coverage

   Flood insurance provides coverage for both structural damage and personal belongings affected by flooding. With this insurance in place, you can confidently face the aftermath of a flood knowing your property and possessions are protected.

2. Financial Security

   Flood insurance offers financial security, ensuring you won’t face the financial devastation caused by flood damage. With a flood insurance policy, you can focus on recovery and rebuilding without worrying about the cost.

3. Peace of Mind

   Knowing you have flood insurance brings peace of mind. You can rest assured that you have taken the necessary steps to protect your home and finances from the unpredictable forces of nature.

4. Community Requirements

   If you live in a high-risk flood zone, flood insurance may be mandatory. Many mortgage lenders also require borrowers in flood-prone areas to carry flood insurance as a condition of their home loan.

Flood insurance is a vital safeguard against the financial devastation caused by floods. With its comprehensive coverage and peace of mind it provides, flood insurance ensures that your home and finances are protected from water-related disasters. While standard homeowners’ insurance policies may not cover floods, having a separate flood insurance policy is a wise decision to mitigate the risks associated with this common natural disaster.

To inquire about Flood Insurance for your property give us at call today at 201-939-1076.

Retaining “Best Practices Agency” Designation For 22 Years!

Bogle Agency Insurance, Lyndhurst NJ, has been named a “Best Practices Agency” for 2024. This marks the 22nd consecutive year that we have done so, and we join an elite group of independent insurance agencies nationwide. The “Best Practices Agency” designation is awarded to participants in the Best Practices Study, which analyzes and documents the business practices of the highest-performing agencies in the industry. Only 235 out of 2,600 independent agencies in the U.S. were nominated for the selection process in the year 2024. These 235 qualified and retained their status as “Best Practices” agencies. Philip R. Bogle, president of Bogle Agency Insurance expresses pride at being part of the “Best Practices” study and thanks all of the agency’s employees for their hard work and dedication in helping Bogle Agency Insurance retain their “Best Practices Agency” award and status for 22 years. Since 1993 the Independent Insurance Agents & Brokers of America (IIABA or the Big “I”) and Regan Consulting, a management consulting firm in Atlanta, joined forces to study the country’s leading insurance agencies.

Bogle Agency Insurance was founded in 1919 (that’s right, over 100 years ago!) and offers products from numerous companies, covering every area of insurance. For more information please call Phil G. Bogle of Bogle Agency Insurance at 201-939-1076.

IIABA – Founded in 1896

Founded in 1896, the Independent Insurance Agents & Brokers of America (the
Big “I”) is the nation’s oldest and largest national association of independent insurance agents and brokers, representing over 25,000 agency locations united under the Trusted Choice brand. Trusted Choice independent agents offer consumers all types of insurance — property, casualty, life, health, employee benefit plans, and retirement products — from various insurance companies.

REGULAR LIFE INSURANCE POLICY REVIEWS IN NJ

Life insurance is a crucial financial tool that provides protection for you and your loved ones here in NJ. However, as life unfolds, your insurance needs may change due to significant life events. Regular Life Insurance policy reviews are vital to ensure your life insurance coverage remains relevant and adequate throughout life’s various milestones.

Life Event: Marriage

Marriage marks a significant life event where you share financial responsibilities with your spouse. A policy review is essential to assess if your current coverage is sufficient to support your partner in the event of your passing. You may also consider adding your spouse as a beneficiary to your policy.

Life Event: Becoming a Parent

Welcoming a new addition to your family brings joy and increased responsibilities. A policy review during this life event allows you to evaluate your life insurance needs to protect your child’s future. You may consider increasing coverage to cover childcare expenses and ensure their financial security in case of the unexpected.

Life Event: Buying a Home

Purchasing a home is a significant financial commitment. A policy review can help you determine if your life insurance coverage is adequate to protect your family from mortgage debt if something were to happen to you. Ensure your loved ones can maintain the home without financial strain.

Life Event: Career Advancement

As your career advances, your income and financial responsibilities may change. A policy review enables you to assess whether your current coverage aligns with your new financial status. You may consider increasing coverage to ensure your family’s lifestyle remains protected.

Life Event: Retirement Planning

Approaching retirement, a policy review helps you evaluate your life insurance needs as you transition into this new phase of life. Consider whether you still need coverage and if your policy aligns with your estate planning goals. You may explore options that provide supplemental income during retirement.

Life Event: Estate Planning

As you plan your estate, a policy review is crucial to ensure your life insurance beneficiaries are up-to-date and reflect your current wishes. Reviewing your coverage ensures that your loved ones receive the intended financial support.

Life events play a significant role in shaping your life insurance needs. Regular policy reviews are key to ensuring your coverage remains adequate and relevant throughout life’s various milestones. Whether you’re getting married, starting a family, buying a home, advancing in your career, or planning for retirement, staying up-to-date with your life insurance policy empowers you to make informed decisions. By prioritizing regular policy reviews, you can confidently navigate life’s changes and secure the financial protection you and your loved ones deserve.  Give us a call today at (201) 939-1076 to review your Life insurance policy or to get a quote on Life insurance.