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. 

Protect Your Home in Newark, NJ

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Owning a home in Newark, NJ is something that many people dream of. If you have achieved this dream and you are loving the home you are in, then you also need to ensure it is protected. The best way to protect your home is by purchasing home insurance.

The key, though, is to get the right type and amount of home insurance for your needs. One of the best ways to do this is by working with a reputable agency, such as E.S.T.I.R. Inc. Some other tips to help you get the proper protection for your home can be found here.

Determine the Type of Insurance Needed

Most people think they can buy a traditional homeowners insurance policy and be fine. However, this isn’t always the case. For example, these policies typically don’t cover flooding – especially if you are in a flood zone. If this is the case, then it is essential that you purchase an additional flood insurance policy. This will ensure you have the coverage needed if a flood ever occurs.

Also, not all basic homeowner’s insurance policies will cover the outlying structures on the property, such as your pool, a shop or any other outdoor feature. If this is the case, you will need to purchase additional protection for these items as well.

Protect Yourself and Your Home

When it comes down to it, you need to purchase home insurance to not only protect your home, but also yourself. For example, if someone were injured while on your property, the right policy will cover this.

If you aren’t sure what type of insurance you need to protect yourself and your home in Newark NJ, then the best thing you can do is work with a quality insurance company serving the area, such as E.S.T.I.R. Inc.

Safety Reminders for Cold-Weather Driving

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As the weather cools down, in many areas ice and snow become part of the landscape. That means some key safety tips need to be implemented. Here are key safety reminders from E.S.T.I.R. Inc. serving the Newark, NJ area.

Tire tips 

Tires should be at the proper inflation level for winter driving. Ask the mechanic to check and inflate them. Recheck them periodically as needed. If needed, replace tires, and preferably do so before the wintry weather season begins.

Seatbelt safety

No matter how far or near you are driving, be sure that you and everyone in the vehicle is properly secured with seatbelts. Also, assure that babies and children are in properly installed age-appropriate car seats and booster seats.

Driving distance

Leave plenty of space between your vehicle and other vehicles when the roads are slippery or have snow or ice on them. Gradually brake rather than coming to sudden stops. All of this becomes even more relevant when there is a heavy snowstorm or an ice storm.

Alert driving

It is always important to be alert while driving but even more so during wintry weather. So do not drive unless you have had adequate sleep and rest. Pay full attention while driving.

Gear and tools

Make sure to have certain key items on hand in the car. That includes an ice scraper and brush to remove snow from the windshield and other parts of the car. Also have a fully charged phone plus emergency blankets, water and food.

It is definitely possible to drive during cold weather and wintry precipitation while staying safe. Follow the above tips and see that it is true. If you need more information about auto insurance, feel free to contact E.S.T.I.R. Inc. serving the Newark, NJ area.

Contractors Insurance Protects You and Your Client when It Happens

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No matter if you are a contractor that mostly works on residential repairs in the Newark, NJ area or one that installs pipes for high-rise buildings, you need to carry the right insurance from E.S.T.I.R. Inc. for every single job. Skipping this simple step can open your business up to huge liability payments and turn aside potential employees from a ragged reputation.

When the Client Trips on the Job Site

Even if you have a closed job site, at some point the client will want to visit and check on the progress. All it takes to take a huge chunk out of your bank account is a simple misstep off scaffolding, trip over a wire, or walking under the trash chute.  You need to make sure your contractors’ liability insurance is up to snuff in covering the worst possible scenario.

When Your Sub Snips the Wrong Wire

The stakes are high when you are building a new multi-use complex, especially in a busy urban neighborhood. You will have multiple sub-contractors on site at any one time, and somebody is going to make a  mistake. That workman’s compensation coverage added to your liability coverage will make sure that inconveniences and injuries are addressed quickly and appropriately and keep the job on schedule.

When Your Van is in an Accident

Don’t forget that your fleet of vans and trucks will need commercial coverage. In worksites that haven’t worked out a proper road system yet, there is a greater chance of hitting a giant pothole, slamming into a new curb, or simply bumping into another construction vehicle. E.S.T.I.R. Inc. is here to help you sort through the mire of potential risks and challenges you face in the Newark, NJ area and provide the contractors’ insurance you really do need.