Tips for Starting Your Own Contracting Business

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Starting your own business can be extremely profitable. In fact, some individuals earn a substantially higher income working for themselves than they would for a company. However, the process of actually establishing your business isn’t as easy as you may think. With a few simple tips and insurance from Bloomfield, NJ’s E.S.T.I.R. Inc. you can get started with the highest potential for success. 

Getting Proper Licensure 

You can’t just start offering your services as an electrician without getting the necessary licensure. If you want to start a business and work as a contractor, you need to get a general business license. You also may need specific business licensure. For some contracting jobs, you may need certifications to prove your credentials. 

Insurance 

Before you start advertising, you need to look into insurance. Insurance is necessary for contractors. It helps protect their assets in the event something should happen to a client’s property. For instance, let’s say you’re doing electrical work in someone’s kitchen. You accidentally drop the screwdriver and it tears through the person’s linoleum. Instead of the person suing you, the insurance you have covers the expenses. You can also utilize your insurance if you should happen to make a mistake on the job. 

Learning to Market  

In today’s technology savvy world, marketing is easier than ever. You may create social media pages specifically for your business and use your own personal page. You have the option of sites like Craig’s List to post an ad for your services. Linkedin is another excellent place. You create a page listing all of your information. Your name comes up in the search results, and you have the option to connect with other contractors and businesses in your area. 

Call E.S.T.I.R. Inc. today for a quote for insurance for your contracting business. We serve Bloomfield, NJ and the surrounding area and are available by calling 973-481-5300.

 

Does Commercial Insurance Cover Technology In the Business?

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Commercial insurance covers a huge range of different aspects of your business including the technology that is required to keep your business going. If you have a commercial policy, it is always best to see just what the policy covers in order to understand entirely what your policy is going to pay for should you have to use it. If you live in the Bloomfield, NJ area, the agents with E.S.T.I.R. Inc. can help you to find the perfect commercial policy.

Keeping in mind that many businesses use some sort of technology to help them function, it is necessary that commercial policies cover the technology that is used to keep the business going. This means that commercial policies cover things like the computers that house the inventory, cash registers, office computers, anti-theft devices and more that are all used to help the business proceed with daily activity. If you have a business for instance that is destroyed in a fire, your policy would help to give you a monetary amount to help buy new computers and new technology to help recover the business.

A commercial policy is going to cover pretty much anything that is going to help your business run on a day to day basis. It is also going to cover inventory, the shelving and other display items, the building itself, and to a certain degree, can help pay for employee injury if something happens to your employees while you are at work. If you live in the Bloomfield, NJ area, the agents with E.S.T.I.R. Inc. can help you to find the perfect commercial policy for your needs so that you can be fully covered no matter what, even your valuable electronics that are used to keep your business running.

What You Should Know about Shopping for a Car and Auto Insurance

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Buying a new car in Newark, NJ can bring some questions about what to do with your auto insurance.

If you are buying a car on the weekend and the insurance office doesn’t open until Monday morning, you will usually have automatic coverage for new purchases that is equal to the broadest coverage you have on either your current or other cars on the policy. This means your policy will cover you for up to four days. If you don’t have comprehensive or collision coverage on the car you are replacing, then you won’t have it on the new vehicle. You may be required to have this overage if you are leasing or financing the new car. If there are multiple cars on the policy, then the new vehicle will have the greatest level of coverage to match any car listed on the policy.

It’s important to read the fine print on the lease or loan. Some leasing contracts could have a forced place clause, which means that the leasing company will arrange for insurance and add it to the monthly bill. You may also want to add additional gap coverage when purchasing a new car since this will help pay the difference from what you owe and what the car is worth at the time of an accident.

The dealership will not be responsible for contacting your insurance company, so you should contact your insurance agent as soon as possible.

If you are purchasing your first car and don’t have any existing insurance, you will have to do that before you can drive off the lot. An agent at E.S.T.I.R. Inc. can help you set up a first-time car insurance policy. While you typically have four days to contact your insurance after buying a vehicle, you should notify your agent in advance if you know you are close to getting a new car.

Contact E.S.T.I.R. Inc. serving Newark, NJ, to get a quote on auto insurance. 

 

How Changes to Home Insurance Rates Reflect to Increasing Severe Weather Conditions

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Home insurance rates are significantly changing due to severe weather conditions that have long been associated with the earth’s climate change. The industry’s pending financial losses are a direct result from the amount of damage sustained in these storms, and their occurrence seems to be on the rise with each passing year. 

The state of New Jersey has seen the after-effects from severe weather conditions as Superstorm Sandy hit the tri-state area in October 2012 and caused $65 billion in damage. Thus, making it the second-costliest weather disaster in the history of the United States. Insurance agencies like E.S.T.I.R. Inc. of Newark, NJ have seen this region become more susceptible to hurricanes, wind and hail damage, but the severity of these storms have become more frequent than ever before. 

Factoring Severe Weather Conditions Before Buying a Home

The key to any real estate deal is location…location…location. In the past, prospective homeowners’ only concern was the condition of the property, type of neighborhood and gauge the quality of the local school system before committing to a purchase. Now, they must be more conscious about the severity of the weather conditions by seeking reports on which communities are at risk from rising water and other weather-related damages. Many will consult with various building contractors on disaster prevention options for their new home. Many of these businesses specialize in reducing the damage caused by severe weather conditions, and their knowledge will help to lower your premium as well. 

Having An Eco-Friendly Home May Offset High Premium Coverage

Landowners are making a concerted effort to have a more eco-friendly home, especially if their property is in the crosshairs of severe weather conditions. Their attempting to reduce the threat of property damage, which lowers the amount of home insurance claims. Thus, offsetting high premium coverage. It begins by taking the necessary steps to make the home more weather-resistant to this rapidly changing climate and limiting the amount of damage sustained in a severe storm. 

 

 

 

 

 

 

 

 

 

How Contractor Insurance Protects Your Business Reputation

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One of the most appreciated and noble professions is that of a contractor. A contractor has the flexibility to take on a variety of projects within the home and work when it is best suited for the client and the contractor. Most of the clients that build the contractor’s business is by the reputation of the contractor. If you are a licensed contractor in the Newark, NJ area, a contractor insurance policy from E.S.T.I.R. Inc. will help you maintain your business reputation.

Put the "Liability" in "Reliability"

When seeking out a contractor, most clients equate reliability with work quality. A reliable contractor ensures their business by protecting both their clients and themselves with liability coverage. This coverage protects any damages that may happen on site, as well as prevent any extensive lawsuits from clients. Bodily injury and property damage are both subject to liable damages for contractors who are working in or around an area with access by homeowners or public. Any damages that require compensation or medical bills are covered under this portion of the policy.

Insure the Structure

It is essential for contractors to insure their projects as well as any structures that may have been damaged while working. Protect yourself and employees from the unforeseen damage that can come from working around a critical structure. Damages to unknown pipes or damages to the interior structure are covered under these policies. 

Protect Your Reputation Today

Contractor insurance promotes responsibility and security. Contractors that are insured is in high demand for clients in or around the Newark, NJ area. Knowing you are insured will enhance and maintain your business reputation with clients and potential clients. Let an agent as E.S.T.I.R. Inc. assist you with a contract insurance policy and protect your business reputation today.

Do You Need To Incease Commerical Coverage If Your Inventory Expands?

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Having adequate commercial insurance can protect you from all sorts of dangers that result in financial chaos and potentially close the company. One of the things that commercial insurance covers is company inventory. If your inventory increases during the policy effective period, do you need to increase coverage?

Increasing Your Coverage

All businesses usually experience fluctuations in the inventory of the business from time to time. If that inventory substantially increases for the long term, you may want to consider consulting your insurance professional to help you revise your coverage or purchase additional insurance coverage to make sure there is no gaps and potential for losses. You can even purchase umbrella insurance if the increase in inventory is beyond the ability of your insurance to cover until you can find other insurance that is able to cover you adequately. 

Knowledgeable Agents

You always want to make sure you are working with a knowledgeable insurance agent so you can have an expert with you to help you discover the right products for your current needs. If you have a business in or around the Newark NJ area, you should consult with E.S.T.I.R. Inc. for options and information that can help protect you at all times from the possibility of loss from a multitude of dangers and events. 

If you experienced and inventory increase, consult with E.S.T.I.R. Inc. before making any decisions so you can have a professional agent review you needs and recommend appropriate action. They proudly serve the businesses and residents of the Newark, NJ area and look forward to speaking with you. Call or stop by the office for more details. 

Ways to Get the Best Home Insurance Possible

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Insuring your Newark, NJ home doesn’t have to cost you an arm and a leg or provide you with minimal benefits. The following tips are what we at E.S.T.I.R. Inc. suggest to all of our clients when it comes to finding great home insurance.

Focus on the Home Itself When Deciding Rebuilding Cost

One mistake that many homeowners make when buying home insurance is creating a rebuilding cost based not on the home itself but on the purchasing price. This is a huge mistake because the purchase price includes the property and any other items on it, including garages and storage sheds. Pricing your rebuilding cost too high will increase your rates and may even complicate the rebuilding process when an accessor claims that your home was worthless. Accuracy is important in this process.

Make Your Home Safer

Homes that lack safety protection – such as security devices and various types of physical home protection – may be insured at higher rates than other homes. Therefore, adding these items is a smart choice because it helps to decrease home insurance rates while also increasing your buying options.

Increase Home Efficiency

Insurance rates are often dictated by a variety of factors, including the efficiency of a home’s various heating and cooling systems. Try to boost your efficiency by adding better windows, improved insulation, and much more to your home. In this way, you can likely get a better rate or even get a more detailed and efficient policy that covers more problems than other coverage options.

Contact Us Today

If you need further help getting high-quality home insurance that meets your needs, please don’t hesitate to contact us at E.S.T.I.R. Inc. We help Newark, NJ residents get the best insurance policies available for their unique needs.

Should you be concerned when lending your auto to others?

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Lending your vehicle to another person is something that you may do without thinking through the ramifications. You may even feel pressured to do this “small” favor for a close friend, who you assume would do the same thing for you. Many feel guilty not accommodating a sincere request from a friend. It is not comfortable to be caught off guard when someone asks to borrow your automobile and having to scramble around to think up an excuse not to let them. It is worse just to lend it to them without knowing what the risks really are.

Here are the things you should do:

1. Check with Your Insurance Agent About Casual Drivers

First, you need to know if other drivers are covered under your auto policy. This is a good reason to pick up the telephone and talk with your agent at E.S.T.I.R. Inc. in Newark, NJ. Ask your agent if casual drivers are covered in your policy and what the rules about them are.

2. Understand the New Jersey No-Fault Rules

New Jersey is a no-fault state. Residents must carry auto insurance to legally operate a vehicle within the state. There are the minimums for coverage under a “basic” policy which are:

  • Property damage liability (PDL) $5,000 per accident.
  • Personal injury protection (PIP) $15,000 per person, per accident.
  • Up to $250,000 for very serious injuries.

New Jersey residents have the option to choose a “standard” policy, by paying a higher premium, which has higher limits, covers more, and has the option to choose not to have any restriction on the right to sue a person who caused the accident. Ask your insurance agent about the options.

3. Consider Your Feelings

If the friend that borrows your car gets into an accident, even if it was the fault of the other driver, your insurance is going to have to pay the claim for your vehicle and its occupants. This can cause your premiums to rise, which is uncomfortable when you did not have anything to do with what caused the problem. Talk with your agent about these issues. You may do better paying for a rental car for your friend instead and making sure it is insured properly.

Summary

You need to think carefully before loaning your car to another person. If you are considering this, contact your agent at the E.S.T.I.R. Inc. agency serving Newark, NJ and the surrounding areas. Ask for an auto insurance review and a quote to be sure you have adequate coverage.

3 Tips for Buying Contract Insurance in Newark, NJ

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As a contractor, it is important to keep your business, employees, and clients protected. This can be done with the right contract insurance in Newark, NJ. However, all contract insurance policies are not the same. For this reason, if you are looking for a new contractor insurance policy for your business, here are three tips to help you get the most for your money with the best possible coverage: compare quotes, bundle policies, and work with a reputable insurance agent serving the Newark, NJ area.

1. Compare Quotes

When shopping for contractor insurance it is important to compare various quotes in detail. All policies are not the same. They typically differ in price and what is covered. For this reason, it’s important to use a trusted insurance agent to help guide you through this process and point out the finer details that you may miss. 

2. Bundle Insurance Policies

When you have more than one insurance policy, it’s a good idea to bundle them together under one insurance company. This will save you money on your premiums. You can bundle auto, home, recreational, commercial and other insurance polices together to save you money. Again, use a reputable insurance agent to guide you through this process to save you as much money as possible. 

3. Work with a Reputable Agent

You want the best contractor insurance for your needs in Newark, NJ. At E.S.T.I.R. Inc. our reputable agents will guide you every step of the way when purchasing contractor insurance for your business. When you contact us, we will answer all your questions and help you find the best policy for the price you want. Contact E.S.T.I.R. Inc. today and our friendly agents will take the time to explore and find the policy you need. 

 

 

 

Commercial Insurance for Your Small Business. When Should You Upgrade?

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At E.S.T.I.R. Inc. we want your business to be fully protected so you can have the best chance at success no matter what the world might throw at you. This is why understanding exactly what your business’ insurance needs are is vital. We serve Newark, NJ and businesses in the surrounding areas. 

Should You Upgrade Your New Jersey Business Insurance to Commercial Insurance? 

According to the State of New Jersey, all business’ no matter the size must have basic liability insurance to protect themselves. If you have a product, then you need a minimum of a product liability insurance policy, and if you provide a service you need professional liability at a minimum. The point where you need to upgrade to commercial insurance is a blurry line in some cases, however, it is good to keep in mind that the more full your coverage is, the safer your business is in any case.

Commercial insurance is needed if you have company vehicles or machinery that you are liable for. Keep in mind that you have liability to the employees operating the vehicles and machinery as well. A lot can go wrong, and when it does it will fall on your shoulders as the business owner, no matter the size of your company. Getting the best commercial insurance for your company means that you can enjoy the perks of being boss with a better night’s sleep at the end of each day because you know you, your property, and your employees are safely covered in an emergency. 

Contact us at E.S.T.I.R. Inc. to discuss your commercial insurance needs. We serve Newark, NJ with quality insurance and all the information you need to keep your life protected with the exact coverage you need. Call today.