I Remodeled My Home: Do I Need To Increase The Value of My Home Insurance Policy?

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If you have remodeled your home, you may have increased the value of your home. This may leave you wondering if your home insurance policy should be increased as well. Here is some information you need to consider.

Home Insurance Does Not Pay You the Value of Your Home

One common misconception about home insurance is that home insurance covers the value of your home. However, they do not. They cover what it would cost to rebuild or repair your home after an event. For example, if your $250,000 home was damaged in a fire, insurance would not pay you $250,000, if your policy limits are that high. They would pay what it would cost to rebuild your home to the same level it was before. This may only be $150,000 or $200,000. This is important to keep in mind as many people confuse the two.

Reasons to Increase Your Value After Remodeling

If you have remodeled, you may have used materials that are more expensive to repair than the materials you previously had. For example, marble is more expensive to replace than porcelain tiles. As such, if you have used expensive materials in your remodel, you will want to increase the value of your home insurance policy so these items are included if you need to file a claim.

Deciding whether to increase or decrease your home insurance policy is a big decision. You should let someone with experience and expertise guide you. When you have questions about a home insurance policy or are looking to purchase a new one, let E.S.T.I.R. Inc. in Newark, NJ help. Call us now to get answers to your question or get started pricing out your new insurance policy.

Three Common Driving Distractions You May Be Unaware Of

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When you are driving, you should be paying attention to the road. Unfortunately, we are all human and there are things that can cause us to become distracted. While cell phones are in the news often for being one of the biggest distractions that people face while driving, there are many other things that can distract us as well. Here are a few common distractions that you may not even be aware are distracting you while driving.

The Radio

One of the biggest distractions drivers on the road face, without even realizing it, is the radio in their car. If they do not like what is on the radio, they may look down and change the station. In the amount of time it takes you to look away, your eyes are off the road. It may not seem long but it doesn’t take long for someone to suddenly stop or for a child to run in front of your car.

Your Kids

Another common distraction in the car is your children. If your kids are being loud, crying or otherwise demanding your attention, you may be focused on them, and not the road. Unfortunately, there is not much you can do but try to tune your kids out for their safety and yours.

Food

The last thing that is a common distraction for many drivers is food. You may be eating while driving, sipping your coffee or even reaching for a piece of gum. It is highly advised that you avoid eating while driving and only sip on your drinks when stopped at red light.s

Learning about common driving distractions can help you stay safe on the road. Having the right auto insurance company can also help protect you while on the road. If you are in the greater Newark, NJ area and are interested in obtaining a new auto insurance policy, give E.S.T.I.R. Inc. a call. We can help identify the right coverage amounts for you at an affordable price. Call us today for a free price quote.

Ways to Prevent Pipes from Freezing

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If you own a home in Newark, NJ, you know how severe the winter weather can be on plumbing pipes. Frozen pipes can burst and cause flood damage to your home, which is costly to repair.  Addressing a few items before the harsh winter sets in can decrease or eliminate the risk of frozen pipes.  Here are some preventative measures you can help protect your plumbing.

Plumbing Location

Some pipes are more likely to freeze than others due to their location. There are three areas where they are more at risk to freezing. Any exposed plumbing in unheated areas of your home, plumbing in the exterior walls, and any plumbing located outside you home.

Preventative Measures

For interior exposed pipes, such as in the basement, attic, or crawl space, inexpensive foam pipe insulation is often enough for moderately cold weather.  For severe cold temperatures, it’s better to use thermostatically controlled heat tape that automatically turns on when it drops to a certain low temperature. Pipes located in an under-insulated exterior wall, it’s best to have insulation shot into the wall or to open the wall and add insulation.  There is no quick or easy fix for these areas, and it may pay to have the plumbing rerouted. Outside plumbing, you can install frost-proof spigots or a faucet insulator and close the interior shut-off valve that leads to the faucet. Don’t forget to unhook and store the garden hose because if it freezes, it can actually cause an interior pipe to burst.

E.S.T.I.R. Inc.

E.S.T.I.R. Inc. provides homeowner’s insurance to those in the Newark, NJ area, so we know how damaging the climate can be to homes. We want to help you protect your home investment. Contact an agent today to discuss your home coverage.

Using Auto insurance as a Means to Save: How It Can Protect Your Wallet

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When insurance just seems to take a bite out of your paycheck every month, it can just start to feel like another bill you have to pay. But your electricity bill isn’t something that helps you save money while your insurance does. Start looking at it a different way, and you may just find yourself better protected over time.

Living in Newark NJ

E.S.T.I.R. Inc. serves the people of this city, and we know that there are dangers that lurk at every turn on the road. People make mistakes of course when they drive, but they also make mistakes in life too. For instance, you may have an uninsured driver hit you, and then be unable to pay for the damages to your car. Or if you have liability only and then cause an accident, you may find that the limits of that liability do not cover all of the expenses. Even small accidents can end up becoming large hits to your savings account. 

Keeping Your Future Protected

The people of Newark, NJ need a knowledgeable source of information when it comes to making the best arrangements for themselves now. E.S.T.I.R. Inc. can provide you with more information if you’re looking to get a new quote or a better policy. We want you to be able to hold onto the savings that you’ve built up, and not spend them unnecessarily. Our agents keep your budget in mind, but also your future needs as well. It will always be more beneficial to make the sacrifice when you sign up for insurance rather than be hit with bills you can’t afford later on. Give us a call today for more information of how it can all work for you. 

Why it is Important to Winterize Your Vehicle

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It is winter in Newark NJ, which means that we have plenty of cold days. Snow and ice are common this time of year, which is why it is important to winterize your vehicle.  The professional insurance agents E.S.T.I.R. Inc. want you to be safe and your car running in tip-top shape throughout the season, which is why we believe you should prepare your car for the cold by winterizing it.

What Does It Mean to Winterize Your Car?

Winterizing your car basically means that you perform regular maintenance on it each winter to ensure your drive is safe and smooth. It helps your vehicle to handle the cold weather and potentially treacherous road conditions. Some of the things you should do or have a mechanic do, to get your car in shape for winter include:

  • Check that the thermostat and defroster are in good working order.
  • Examine your tires and make sure they have plenty of tread or replace them.
  • Make sure your vehicle has plenty of antifreeze.
  • Keep your gas tank at full whenever possible to protect the fuel line from freezing.
  • Keep an emergency kit of essentials in your vehicle.

Why These Steps Are Necessary

By taking these simple steps, you can protect yourself against potential road hazards. For example, if you encounter snow and ice, it is important to have good tires. If your tires lack tread, you increase your risk of losing control of the vehicle. To stay warm, you need the heater and thermostat to work while driving. And if your vehicle breaks down, an emergency kit can keep you safe until help arrives. Always remember to call your insurance agent at E.S.T.I.R. Inc. of Newark, NJ if you need assistance. We are here to help.

Does Location Affect Your Home Insurance?

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Location location location seems to be the mantra of real estate shoppers. The reasons vary from ideal commute to work, views, crime rates, school systems, proximity to nature and many more. But many people do not consider the insurance ramifications when choosing the location of their real estate purchases. The fact is that the location of a home has a direct impact on the insurance that the home needs, and even the insurance rates for the home.  E.S.T.I.R. Inc. serves Newark, NJ and the surrounding areas and can help you consider your insurance options for any location.

It is all about risk. If the home is located in an area that has an increased risk for any reason then the need for insurance increases,as does the likelihood of that insurance being used rise proportionately. But what defines an area with increased risk and rates? The answer can vary. FEMA.gov lists official areas that are rated according to the risk of natural disaster, that is a great place to start when identifying insurance needs and potential danger. But when it comes to other factors that are not natural disasters the risk/rate can vary even by neighborhood or city block. Careful consideration when purchasing a home and insurance for that home is vital to keep your family covered no matter what.

Contact us at E.S.T.I.R. Inc. to discuss the insurance needs of a home you may be considering and to make sure you are fully covered for any disaster in your unique Newark, NJ neighborhood.  It is important to consider all of the variables when purchasing a home and insurance for it.

 

 

Auto Coverage Against Theft New Jersey

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In New Jersey State, auto insurance is mandatory under law. Depending on the model of a car, age and driving record of a driver, residence, and type of insurance policy, costs may vary.  All drivers in New Jersey are required to hold minimum insurance coverage. Auto insurance law in the state is based on a ‘no-fault’ rule that states that regardless of fault in an accident, an insured has the right to coverage before a court ruling otherwise.

Automobile Insurance Cost Reduction Act

Auto insurer conformance with New Jersey’s Automobile Insurance Cost Reduction Act 1998, mandated that all drivers in the state carry a basic policy. In New Jersey, the Act mandates that insurance must be available to all drivers having a right to be insured. Exceptions and penalties applied under the 1998 Act, apply to driver’s license suspension, failure to pay license or registration fees, or incarceration. This includes drivers that are currently, or have previously been, incarcerated for Grand Theft Auto (GTA) in New Jersey.

New Jersey GTA Limits and Coverage

Drivers should protect themselves with auto theft insurance in New Jersey. Auto insurance companies serving the Newark metropolitan area, consider auto theft statistics in the calculation of policy costs. The cars most stolen in the state are assigned higher insurance rates. Automobile models targeted for theft the most often in New Jersey are the Honda Accord, Honda Civic, Dodge Caravan, Jeep Cherokee/Grand Cherokee, Ford Econoline E250, Ford Full-size Pickup, Nissan Altima, Toyota Camry, and Toyota Corolla.

Required Coverage in Newark, NJ

All vehicles in New Jersey must be insured with liability coverage for property damage of at least $5,000, and personal injury protection of $15,000. No-fault insurance agreements limit the right to sue a driver for pain and suffering beyond short-term medical care and bills.

Permanent or significant injury can be purchased for coverage of up to $250,000 in victim’s compensation in the case of a lawsuit. Uninsured/Underinsured Bodily Injury coverage in New Jersey is a $15,000 minimum and up to $30,000 maximum coverage for an insured in an accident with an uninsured or inadequately insured motorist.

New Jersey drivers unable to show law enforcement a driver’s license and insurance coverage after an accident, may be subject to a fine of $300, community service, jail time, license suspension, and insurance surcharges.

Protect yourself and your vehicle with auto insurance in Newark, NJ.

How to Winterize Your Home in New Jersey

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As the colder months are fast approaching, it is time to winterize your Newark, NJ home. There are a handful of different tips you need to perform, each of which will improve energy efficiency throughout the year, cut down on drafts and also help avoid those nasty winter colds.

HVAC Inspection

This should be performed annually. An HVAC inspection will clean out your vents, correct minor issues and make sure the furnace/boiler or other heating unit is functioning properly. This not only improves energy efficiency but it will improve air quality as well. This is also a good time to change out your furnace filter.

Check Windows and Doors

More air is lost around winders and doors than anywhere else in the home. It is also an area you can easily correct yourself. Check the weather stripping around all access points. If anything is cracked or missing, make sure to replace it. Also, fill in cracks around the frames to prevent air from escaping your warm home.

Insulate Your Pipes

Living in Newark, NJ, you probably have heard stories from friends or family members who have had burst pipes. Insulating pipes not only can help prevent this from happening but it also improves hot water transfers which in turn reduces your energy bills.

Storm Doors and Windows

Storm doors and windows can be easily installed around the house. These doors and windows act as a secondary barrier at protecting your home from leaking warm air. You’ll see an instantly lower energy bill after you go about installing these around the house. Plus, storm windows look much better installed than using the plastic wrap option. While plastic wrap is good if you’re in a pinch and only have a few dollars to spend, storm windows will last and provide improved insulation.

Should You Increase Your Auto Insurance if You Are Planning on Driving Through a State With Higher Minimum Coverage Requirements Than You Carry?

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If money is tight in your household, you may have the minimum amount of auto insurance that the state requires. This helps to keep your auto insurance premiums low. However, the minimum amount of auto insurance that you are required to carry varies from state to state. As such, if you are traveling out of state for work or for pleasure, you may find yourself wondering if you need to increase your coverage if one or more of the states you will be traveling in has higher minimum coverage requirements.

What most people do not realize is that even thought your policy limits say they are good in the state you reside, they are actually good nationwide. And if your current minimums do not meet the minimums in other states, your auto insurance automatically boosts the limits up to the minimum when you are in these states. And no, you don’t have to notify the insurance company you are traveling in these states or on vacation. It is something that is automatically done if you are in an accident in the state.

The only time this is not the case is if your auto insurance specifically states that the policy amounts do not automatically adjust in another state. This may occur if you are involved in multiple accidents out of state. Unless your policy specifically precludes it, your insurance will self adjust when you are in other states with higher minimums than you carry, ensuring you don’t have to change your policy amounts as you travel.

If you are looking to increase the coverage amount of your auto insurance policy, or are simply shopping around for a new one, E.S.T.I.R. Inc. can help. We provide a full range of insurance products, including auto insurance, to the greater Newark, NJ area. Call us today or stop by our office to learn more about our products, get answers to your questions or obtain a quote for an auto insurance policy.