Monthly Archives: February 2025

As a Contractor, Why Do I Need Umbrella Insurance?

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What Contractors Need to Know About Umbrella Insurance

Whether you operate a modest business as a contractor providing specific services or if your business is larger and offers a wide range of services, having enough insurance coverage is a necessity. As a contractor, you already have the required insurance the state requires for Bloomfield, NJ, and the surrounding areas. Contractors are required to have coverage, such as general liability, commercial vehicle coverage, and workers’ compensation. With help from our team at E.S.T.I.R. Inc., we will explain the importance of having additional coverage to protect your business. This coverage is known as umbrella insurance.

About Umbrella Insurance

In simple terms, umbrella insurance serves as an extra layer of protection for your business. If your company is involved in an accident and claims are filed, umbrella insurance steps in. You must have other policies to qualify to purchase an umbrella insurance policy.

Umbrella Benefits

As a contractor, you may work on large projects. In the event of an accident, you are more prone to encounter high-dollar claims. With umbrella insurance in place, the policy provides the additional coverage needed when a claim exceeds your standard policy limits for coverage.

Having an umbrella insurance policy can save you money, especially on these large types of claims. The extra cover can distinguish between protecting your company and financial ruin due to a lawsuit.

Why Purchase Umbrella Insurance?

There are several reasons to consider purchasing umbrella insurance. These include financial security, protection on company assets, assurance of coverage for large claims, coverage of personal injury claims, and more.

Contact E.S.T.I.R.

Stay updated with the coverage needed to protect your business assets and provide peace of mind. Call us at E.S.T.I.R. for information about what’s involved in protecting Bloomfield, NJ businesses with an umbrella insurance policy.

Choosing the Right Health Insurance Policies for Your Employees

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As a business owner, it’s crucial to select the right types of insurance policies to protect your company’s assets. If your business is in the Bloomfield, NJ, area, our team at E.S.T.I.R. Inc. is ready to answer your questions and help you make the right insurance choices. We’ve been working with businesses in your area for over 23 years.

Choosing the Right Health Insurance Policies for Your Employees

When choosing an insurance policy for your employees, it’s important to analyze the needs of your employees and make a choice that will benefit the majority. Some employers survey their employees to determine the healthcare needs of the majority. You’ll need to decide whether your company will pay part of the overall premium for the employees and whether you are willing to pay part of the premium for their spouses and children.

There are many types of health insurance policies available to employees. For example, you may decide to choose an HMO (Health Maintenance Organization), a PPO (Preferred Provider Organization), or an EPO (Exclusive Provider Organization). Another choice to make is how the employees will pay for the balance of their healthcare services. For example, some companies choose a Flexible Spending Account, which reserves a specific amount of the employee’s salary for healthcare costs and makes that amount tax-free.

Contact Us Today for Your Appointment

We remain dedicated to our mission of serving our community by offering the best insurance options for area companies. Businesses in the Bloomfield, NJ, area can count on our experience and commitment to customer service. Working with our team at E.S.T.I.R. Inc. will provide you with the business expertise you need. Call us for an appointment today, and let’s talk about insurance.