H&M
INSURANCE AGENCY
The Pennsylvania Insurance Guide
1. Personal Auto Insurance
Tort Choice
Full Tort vs Limited Tort explanation.
State Minimum Limits (15/30/5)
$15,000 per person, $30,000 per accident, $5,000 property damage.
Medical Benefits (PIP)
Minimum $5,000 medical benefits required.
2. Commercial Auto Insurance
What It Covers
Business-use vehicles.
PA Tort Rule
Commercial auto has no tort selection.
Minimum Limits
DOT‑driven requirements ($750,000–$1,000,000 CSL).
3. Motorcycle Insurance
PIP Loophole
Motorcycles are exempt from PA PIP.
Medical Bills
Health insurance or optional med-pay required.
Tort Rules
Motorcycles automatically receive Full Tort.
4. Renters Insurance
What It Covers
Belongings + liability.
PA Standard
Landlords often require $100,000 liability.
5. Homeowners Insurance
Dwelling & Belongings
Covers fire, wind, burst pipes.
PA-Specific Risks
Mine subsidence excluded; flood excluded.
6. Business Insurance (BOP & Commercial Property)
Business Owner’s Policy (BOP)
Property + liability bundle.
Workers’ Compensation
Mandatory for any employee; noncompliance is a felony.
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The New Jersey Insurance Guide
New Jersey is one of the most highly regulated insurance markets in the country. Landmark updates have increased the mandatory safety nets for Garden State drivers.
1. Personal Auto Insurance
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The Policy Types: NJ features a Standard Policy (customizable, robust) and a Basic Policy (extremely limited, often providing $0 in bodily injury liability).
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State Minimum Limits (35/70/25): For a Standard Policy, the mandatory minimums require $35,000 bodily injury per person, $70,000 per accident, and $25,000 for property damage. Uninsured Motorist (UM/UIM) coverage must match these limits.
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The Lawsuit Threshold: You must choose between the Limitation on Lawsuit option (you can only sue for pain and suffering if you suffer one of six contractually defined severe injuries) or No Limitation.
2. Commercial Auto Insurance
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What it covers: Vehicles owned by a corporation, partnership, or used for commercial operations.
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NJ Mandates: Just like personal lines, commercial auto limits are under strict pressure to keep up with inflation. Fleet owners typically carry minimums of $1,000,000 CSL to protect corporate assets from NJ’s aggressive litigation climate.
3. Motorcycle Insurance
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The PIP Exclusion: Like PA, NJ motorcycle policies do not include Personal Injury Protection (PIP). If you are thrown from a bike, your auto policy’s PIP will not cover you.
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Medical Options: You must ensure your private health insurance covers motorcycle accidents, or buy optional Medical Payments (MedPay) additions up to $25,000.
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Lawsuit Threshold: NJ law dictates that motorcycle riders are generally not subject to the verbal lawsuit limitation—you retain the right to sue an at-fault driver for pain and suffering.
4. Renters Insurance
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The NJ Standard: Protects your clothing, tech, and furniture in a rented space. Because NJ is a high-density state, liability limits of $100,000 to $300,000 are standard to protect against cross-unit apartment damage (e.g., a fire spreading to neighboring units).
5. Homeowners Insurance
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Coastal Risks: NJ homeowners face strict coastal underwriting. If you live near the shore, your policy will likely feature a Hurricane or Windstorm Deductible (calculated as 2% to 5% of your home's total insured value, rather than a flat dollar amount).
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Exclusions: Just like PA, Flooding (storm surges, overflowing rivers) is entirely excluded and requires a separate National Flood Insurance Program (NFIP) policy.
6. Business Insurance (BOP & Commercial Property)
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General Liability: Protects against slip-and-falls on your commercial property or defective products.
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Workers' Compensation: Mandatory for all NJ employers not covered by federal programs. NJ is notoriously strict: even corporations with only executive officers must carry workers' comp insurance if those officers perform any duties for the business.