South Jersey Car Insurance Savings

The Hidden Costs of Cheap Car Insurance

You love the convenience and freedom of owning a car, but you bridle a bit when it comes to insuring it.

So, you go the cheap route.

But the problem with “cheap” is that it’s rarely of the quality you need to cover yourself adequately against all the potential hazards and pitfalls car ownership and driving can expose you to.  But the hidden costs of cheap car insurance can come back to haunt you in a very big way.

Let’s examine why that’s the case and rummage through the fine print of nonstandard policies to see why they’re just not worth it.

More scrutiny

You won’t like this one!

While an insurer will check your driving record once a year or every other year, cheap policies may check every six months.

If you have moving violations on your driving record, this triggers vigilance on the part of those insurers offering a cheap fix.  They’ll lie in wait until they find something and then your premiums will go up.

No more cheap policy.

Punitive damages

Fender benders and other accidents can lead to lawsuits.  Don’t count on your cheap, nonstandard policy covering you if you’re found to be at fault in court.

In many cases, you’ll be on the hook to pay punitive damages.  And that’s not cheap.

Need repairs?  Look out

Anyone who owns a car knows that repairs aren’t cheap.  If your car sustains a ding in the parking lot or in a collision, a cheap policy factor in depreciation as part of its payout.

That means you’re only paid out for a portion of the cost of repairs.  The market value of your car is used to calculate reimbursement, meaning you bear a substantial chunk of the expenses.

Other drivers?

If you’re not the only person who uses your car, a cheap policy may work against you.  While not all nonstandard policies are alike, reading the fine print in this regard is a must before signing on the dotted line.

Teenage drivers may be excluded, especially if they’ve got a moving violation on their record.  You may not even be able to lend your car to relatives and friends if “permissive” drivers (people you allow to borrow your car) are excluded.  Some common exclusions are drivers under the age of 25 or 21.

While there’s quite a lot of variance involved in nonstandard car insurance policies, the common thread is limiting your coverage in multiple ways that can wind up costing you more money.  Policies like these also restrain decision-making about who can use your car.

A standard car insurance policy with Abco takes care of everything.  We get quotes from more than 10 insurers in the market to ensure you get the best coverage at the best price possible.

Abco Insurance Agency

At Abco, we’ve been creating solid car insurance policies for drivers like you since 1979.  With accessible pricing and comprehensive coverage, you get certainty about where you stand, with no secrets in the fine print to trip you up later.

Contact us.

history of insurance | ABCO | NJ

Insurance: An Ancient Practice and a Modern Necessity

From the ancient days of grain storage to the modern insurance agency, people have always tried to prepare for the worst ahead of time. Insurance is a modern necessity, but it has its origins in the early days of humanity. Here is a quick history of insurance and the way people have used it throughout history.

In the Beginning

Insurance can technically trace its roots to early human history and the introduction of grain stores. People would collectively store their grain for use in times of famine. There was also often a form of insurance in communities. If a family’s home burnt down, the community would help them rebuild it. Later, some Greeks and Romans organized funds to help the families of people who died and to pay for funeral expenses – essentially, the first life insurance.

The Official Start

Insurance as we know it became popular the seventeenth century onward. The oldest fire insurance organization, Hamburger Feurekasse, began in 1676, but property insurance as we know it began with the Great Fire of London, which destroyed massive portions of London, devastating the city. Business insurance and life insurance would also find their beginnings in some way in the seventeenth and eighteenth centuries.

In America

In America, property insurance was popularized by none other than Benjamin Franklin. Franklin standardized the use of insurance, particularly in regard to property damage from fire. Franklin helped modernize Philadelphia’s fire-fighting abilities. He started one of America’s first volunteer fire companies. Franklin often wrote about fire prevention to help modernize the fire-fighting abilities of his adopted Pennsylvania home, which was far behind his original home, Boston. This passion for fire-fighting led to Franklin’s formation of an insurance company which contributed to fire prevention, even refusing to insure buildings that were at exceptionally high risk of fire.


Today, insurance is a massive industry, but the principles are the same as they were at the beginning. Insurance helps us prepare for the worst but hope for the best. If you haven’t invested in a great insurance plan, ABCO Insurance Agency, Inc. is here to help. We can help you find the right plan for the right price. Contact us today!

Umbrella Insurance

Umbrella Insurance for a Rainy Day

In this uncertain life, anything can happen.  As we get older, we find that out in ways that can be less than pleasant.

That’s why insurance is so important.  But umbrella insurance for a rainy day is more about extreme weather conditions than a light drizzle.

Accidents and the liability that can accompany them can see you facing enormous costs.  These can amount to millions of dollars, under certain conditions.  And no.  That’s not an exaggeration.

Umbrella insurance can protect you from this eventuality, ensuring you remain solvent.

Limitations of auto insurance

A perfect example of umbrella insurance’s role is considering the typical auto insurance policy.  If you’re involved in a collision, payouts are usually in the ballpark of $100K per person involved, $300K per accident and $50K for property damage.

But what if you’re at fault?  What if there’s been grave injury that an unwitting error on your part has caused and you’re on the hook for an astronomical sum of money?  You may find that your assets – your home, your investments, your savings – are vulnerable.

Shelter from the storm

With an umbrella insurance policy, you’re not just prepared for life’s intermittent squalls.  You’re protected from catastrophic events that can change your financial status overnight from “healthy” to “under water”.

Umbrella insurance is inexpensive, due to the nature of what it covers.  A $1 million policy adds ballast to existing coverage, like auto and home insurance.  It’s shelter from the storm when life hits you with its worst and most unanticipated surprises.

A $1 million policy will cost you between $130 to $250 per year.  But for those who want to feel even more secure about their coverage, each additional $1 million can be purchased for between $100 to $150 per year.

That’s great value for money, when you consider the alternative.  The lurking potential for being slammed with a liability suit is there every time you get behind the wheel of your car or take your boat out on the water.

Bad things happen to good people and that’s what umbrella insurance is there to defend you from – the unpredictable vagaries of this uncertain life.


Abco Insurance

Abco is a trusted insurance agency which will provide you with quotes from 25 companies, while we’re putting together the most comprehensive umbrella insurance policy for you we possibly can.

We believe in our clients and their need to feel secure and protected from the eventuality of incidents which can leave their financial resources depleted.  That’s why we want you to know that an umbrella insurance policy really can save your life – and your resources.

Since 1979, we’ve been ensuring thousands of individuals and businesses, holding them covered against life’s bumps, bruises, rainy days and extreme weather.  We know that life insurance can make the difference between solvency and bankruptcy in a volatile world that throws continual curveballs.

With Abco, you can hit those curve balls every time and hang on to what you’ve worked hard for.

Contact us.  Let Abco shelter you from the storm.

homeowner's insurance | NJ

Beware the Spring Thaw: Be Prepared for Bad Weather

Spring is officially here and with it goes the worries of winter. No more snow and ice to make people anxious. But don’t let up your guard just yet. Spring brings its own bag of troubles that you need to be ready for. As the Spring thaw begins, keep the following in mind to protect your home from possible disaster.

Late Winter Weather

The beginning of spring does not necessarily mean the end of winter weather. Snow and ice can still find their way into our forecast. It’s best not to put away the shovel, blankets, and ice scrapers just yet. A late freeze can mean a bad day for people who have started their spring cleaning too early.


Once everything does start to thaw and the snow and ice are gone there is another major risk: water. Snow melt, spring-time rains, and swollen streams can still lead to major flooding in the spring. Despite the expectant flowers and buzzing bees being foremost in our minds in March and April, flooding is a natural phenomenon that often rears its ugly head in the early spring. So, it’s best to be prepared.


Along with the flooding, snow melt and spring rain also bring another major problem: mud. The early Spring is one of the muddiest times of the year. Any collected snow has seeped into the ground. The warmer weather has thawed the icy topsoil. Rains continue to make matters worse. It all lead to potentially nasty conditions, especially in areas where mudslides area potential threat. Aside from that, though, soft muddy ground is highly conducive to massive power outages. The soft ground coupled with a strong wind can easily bring down trees starting to bud their greenery and flowers. So, keep an eye on trees around your home and don’t pack away that generator just yet.

Be Prepared

With all of these risks that the early spring offers, it’s best to be prepared for any eventuality. With homeowner’s and flood insurance from ABCO Insurance Agency Inc., you can take some of the worry out of it all. This means you can welcome the spring and get ready for better weather ahead without worry.

Contact our team today to discuss your insurance options!

Umbrella Insurance

Three Easy Ways to Prepare for the Future at Any Age

No matter what age you are, preparing for the future can mean the difference between ease and hardship. That goes for you and your loved ones. The more prepared you are now, the better equipped you will be for the hardships that life may throw at you. So, here are a few suggestions that will help you take on all that life has in store, good or bad.

Start Saving ASAP

The first step to a sound future is starting to save as soon as possible. If you’re eighteen, twenty-eight, forty-eight, or eighty-eight, it’s best to start setting aside money as soon as you can. This is especially good advice for younger people. It’s a good idea to start saving for retirement as soon as you start working. Set aside a little bit and as you make more set aside more. This gives you an opportunity to grow your savings and be prepared for the future.

Invest Your Money Wisely

If you have savings, it’s a good idea to start making those savings work for you. Investing is a great way to get more from your money. Whether you’re investing in a 401K, stocks, real estate, or something else, it’s a great idea to start talking to a financial planner about wise moves to make with your hard-earned money. This will ensure that your money continues to grow and does not just sit in your bank account accruing minimal interest. But it’s wise to keep some money set aside for a rainy day still, don’t put all of your savings into a single investment.

Purchase the Right Insurance

Probably the most important way to prepare the future is to buy insurance. Insurance is there to help you be ready for the worst of bad days. It ensures that you or your loved ones have resources to fall back on in the event of a disaster. If you’ve spent all of your life saving and investing wisely, make sure that you’re protecting your investments and savings with the right insurance plan.

With ABCO Insurance Agency Inc., you can find the right kind of insurance to protect your future. We offer personal insurance (like home owners, auto, and life insurance), as well as business insurance (like professional liability and construction insurance).

If you want to be prepared for everything the future may hold, contact our team today!

Got Car Insurance?

The Risk of Being Uninsured (and the Reason for Addressing It Now!)

With times being what they are and everybody trying to keep their heads above water, insurance may seem like just another bill to pay.

But what if the primary breadwinner suddenly dies or becomes ill?  What if there’s an accident?  No one cares to think about such tragedies, but they happen every day.

What’s important sometimes takes a back seat to immediate need.  But at a certain point in our lives, we need to slow down and consider what really matters.  For most people, the welfare of their families and their prospects for retirement are important.

There is great risk attached to “going naked”.  The risk of being uninsured (and the reason for addressing it now) holds no little urgency for those who are winging it.  There’s a good reason to get insured which may convince you it’s time to act which we’ll talk about here.

Life insurance – a bigger bargain than many believe.

A lot of people labor under the misapprehension that they can’t afford life insurance.  Like we said earlier, it seems like just another bill.

A life insurance policy can protect loved ones surviving the sudden death of the primary breadwinner.

A recent study demonstrates that life insurance can be one of the best investments you ever make.  A 30-year-old can obtain a $250K policy for about $12 per month.  If that sounds like a good investment in your family’s wellbeing, it’s because it is.

Living while you’re alive.

A permanent life insurance policy will cost you a little more than a term policy, but its benefits are astonishing.

At the beginning of a policy, premiums will be higher, but you’re getting the ability to accumulate tax-deferred value and obtain lifelong protection.

The value of your policy can be used against any expense you prefer, from a down payment on a house to your children’s higher education, or even your future as a retiree.  The best thing about this strategy is that interest rates are dramatically lower, making it a great way to borrow.

No credit check, either.  A permanent life insurance policy lets you live while you’re alive, borrowing from the value you’ve accumulated over time and not from a bank.

That’s priceless!

Considering disability insurance.

Almost 1/3rd of Americans will become disabled for an average of 90 days at some time during their working lives.  The odds are high that you may be one of them.  Disability insurance lets you face the eventuality head on and prepared.

With disability insurance in place, you don’t have to fear the loss of income resulting from illness or injury, because it has you covered.  That’s responsible fiscal planning that protects you and yours.

Combining a life insurance policy (preferably a permanent one), with disability insurance protects you and your family from life’s bumps and bruises, making them less painful and difficult.

Sure, it’s another bill to pay, but can you afford not to pay it?

Abco Insurance can help get you covered.  Life happens, but it doesn’t have to sink the ship.

Car Insurance

Be Prepared for Life with the Right Insurance

Life happens. It’s a simple truth, but also a cliché that everyone has heard time and time again. The reason this saying is so popular is because it is true. There’s little that anyone can do to control life and the way the future unfolds. The best we can do is prepare for the future and hope for the best. One way that we prepare for the future is with insurance. We prepare for the worst-case scenario, so that we can rest assured that our possessions are secure and that our loved ones are provided for. Here are a few normal life situations that ABCO can help you prepare for.

Renter’s Insurance

Many people experience problems when they rent a property or apartment. Let’s imagine that you rent an apartment and a pipe breaks while your upstairs neighbors are away. The water runs through their apartment, through the floor and before you know it, your apartment is soaking wet. Your laptop, TV, and most of your furniture are ruined. With renter’s insurance, you don’t have to worry about the cost of replacing those items.

Car Insurance

Another common experience is a traffic accident. Sometimes car accidents happen and if you’re lucky enough to be unscathed, you’re still going to have to pay for repairs or a whole new car. Let’s say that you’re driving through an intersection as the light turns green. Someone in the opposite lane tries to quickly make a left and you wind up hitting them. Your car might be totaled and at the very least, you’ll have to repair your vehicle. Car insurance helps cover the cost of repairs or a replacement vehicle. That means you won’t have to pay totally out of pocket to get back on the road.

Life Insurance

Death is a normal and necessary part of life. As frightening as that can be, it’s always nice to know that in the event of your death, your loved ones won’t have to worry. Life insurance makes sure of this. With the right life insurance policy, you can be sure that when the time comes, those who depend on you won’t struggle.

If you need insurance, ABCO can help. Contact us today!

Retire in South Jersey

Ways Life Insurance Can Help Maximize Your Retirement

Once upon a time, retirement was a promise.  These days, it’s more like something which looms ominously.

But that doesn’t need to be the case.  With the right life insurance policy, you can not only protect your loved ones, you can protect your retirement and make the most of it.

Let’s review some of the ways life insurance can help maximize your retirement, granting you the financial freedom to enjoy the fruits of your labor.

I didn’t expect to live this long!

People are living longer than they ever have.  With medical advances, we can enjoy longer, healthier lives.  But preventative health care is also playing a part in the longevity phenomenon.  More people are exercising, fewer people are smoking and eating well has become a priority for millions.

But a long life requires money.  That’s where your life insurance policy can help.

With the right policy, you can use withdrawals and loans to tide you over when investment income isn’t performing up to par.  This gives the markets an opportunity to recover, without you having to sweat it out while it does.

Your life insurance policy can also provide lifelong income when annuitized.  That’s an attractive option for people with big plans for enjoying their retirements.

Stretch your pension.

Having a pension in retirement used to be the norm.  That’s no longer the case, lamentably.  Nowadays, pensioners need to get creative, if they’re among those still enjoying the promise of a monthly income from their pensions.

Life insurance can provide supplementary income when pensioners are faced with a choice between a higher payout, or a lower one which also covers their spouse.  This allows peace of mind and greater freedom for you both.

Maximizing legacy.

Your permanent life insurance policy can be one of the best tools a retiree ever had, creating the ability to establish a legacy for family and/or your charitable organization of choice.

The great thing about this is that your beneficiaries have direct access, as the income is not taxable (in most cases) or subject to probate.

If you believe your estate income will be taxed, you can create a trust with your life insurance policy.  This option allows you to bypass the estate, avoiding both income and estate taxes.

How to do it.

If you’ve got a life insurance policy in place, it may be time to schedule a review with your investment manager or policy agent.  With a skilled advisor, you can either re-structure your policy to serve your retirement plan or create a whole new policy that covers all the bases.

If you’re not covered, the time is now to get permanent life insurance in place and start building toward your retirement goals.

Time changes everything, but so does life insurance!  Talk to your financial advisor or insurance agent or contact Abco Insurance about building up your life insurance profile now.

The ways life insurance can help maximize your retirement are within reach with Abco.  There’s no time like the present to secure your retirement and your family’s future.

Home-owners Insurance

Protect Your Dreams with the Right Insurance

People work incredibly hard to fulfill their dreams. You might have dreamt of a beautiful house in the country or that classic car you had a poster of when you were seventeen. Whatever you dreamt of, achieving those dreams can be a true milestone in your life. When you’ve put in the work and time to achieve your dreams, you’ll want to make sure that they’re not a liability. With insurance from ABCO, you can be sure your dream items are safe and secured, so that you don’t have to worry about them.

Your Dream House

Your home is an important part of your life. Particularly if you’ve bought the home of your dreams, you probably invested a lot of time and money in your home. If you’ve always had a mental image of what your home would look like, you probably worked hard to be able to afford that house, find that house, and then make that house a home. So, why would you let that dream disappear in the event of a disaster? It’s important that you insure your home and protect the investment you’ve made in it. Not only might your home be a dream, but it’s also an important financial asset. Make sure that you’re protecting that asset with the right home-owner’s insurance.

Your Dream Car

Some people truly love cars. Many even dream of having a very specific type of car. We all likely know someone who always wanted a vintage muscle car, a particular lifted SUV, or a beautiful sports car. If you’re one of these individuals and you’ve managed to finally get your hands on the wheel of your dream car, you probably wash it regularly and protect it from the elements and clumsy guests. If you protect your car from these more mundane possibilities, you should also be protecting it from unforeseen events. Not only is insurance necessary to drive the vehicle, but it will make sure you don’t lose the investment you’ve made in finding, purchasing, and protecting your dream car.

Protect Them

You can protect your dreams with insurance from ABCO. Don’t take a chance with your dreams and contact us today!

A Roof Rake Can Help Prevent a Costly Homeowner's Insurance Claim

Be Prepared for Severe Winter Weather

Winter weather can be lovely. Snow covered hills and icy ponds make for picturesque views. But sometimes, the cold can bring major problems for homeowners. Snow and ice can quickly go from beautiful to dangerous very quickly and you should be prepared for these types of incidents. Especially if you live in an area with severe winter weather, make sure you’re ready for any and all eventualities with these tips from ABCO Insurance Agency, Inc.

Your Heating System

The first thing you need to do to prepare for the cold of winter is to make sure your heating system is working properly. Have a trained technician take a look at your heating system to make sure it’s working properly and not leaking carbon monoxide or other dangerous gases. If your house isn’t properly heated, you may wind up with frozen and broken pipes.

Clear the Way

You’ll also want to make sure that you have the right equipment to shovel yourself out of your house and clear the sidewalk. When the snow starts to fall, you need to be sure that you can get yourself out of the house. You also need to make sure that your sidewalk or walkway is cleared. A decent snow shovel and some rock salt will do the trick.

Watch the Trees

Get rid of any dead trees or branches that hang over your home. This is really important to protecting your home during the winter. Ice and snow can be heavy and can bring down trees and branches that may fall on your house. By removing these trees and branches you don’t have to worry.

Have a Great Insurance Policy

Most importantly, make sure that you are prepared for winter disasters with homeowner’s insurance. A good policy will protect you from a number of possible winter problems. If your pipes freeze and break and you’re not at fault, your policy can cover this. And if a tree, heavy with snow, falls on your home, your policy can cover this. Even in the of heavy snow causing structural damage or a roof collapse, your policy may cover this. You may even be covered for liability in the event of a slip and fall or another incident.

If you’re unsure about what your policy covers, or you want to make sure you’re covered for winter weather, contact our team today!