If you are like most business owners, you watch every penny that you spend. However, you need to spend some money in order to make some. There are some things that you shouldn’t skimp on. This includes insurance for your business. 

Unsure if you need business insurance? Here are some reasons why you do. 

Property and casualty insurance covers any damage to your business, both in your office and the building that it is in. It also covers the items that you use to run your business, from your computer, furniture, and any special tools that you need. It may also you if you ever need to shut down, for any reason. 

Liability insurance is necessary in case anyone gets hurt in your place of business. It will also cover injuries that occur when you are out meeting clients. Liability is also used in case you ever find yourself facing a lawsuit. 

That being said, you are legally obligated to have insurance for your business. You can’t open a business without it. If you don’t have any, you could face fines and penalties. Your business may also get shut down. 

Though you may not worry about insurance due to the cost, you really need to have at least something. If not, you could be forced to shut your doors. What would happen if someone fell and broke her leg while visiting your business? Could you afford her medical bills, on top of the bad publicity? 

If you want to make sure that your business is properly insured, don’t hesitate to contact us today at E.S.T.I.R. Inc. in Bloomfield, NJ. We would be glad to show you what we offer. 

Renovating your Bloomfield, NJ home is an extremely exciting event, as you get the chance to customize your home based on your personality and preferences. However, before you get started with the renovation, you need to take a few things into consideration. This includes how the renovations may affect your homeowner’s insurance. This is where E.S.T.I.R. Inc. comes in. We can help ensure you are adequately covered moving forward. 

Adding an Addition

Additional space is necessary for a number of instances, such as for a business venture or a new member of the family. When you add a room to your home, the square footage of the house will increase. The same is true of the replacement value of the property.

As a result, if a disaster were to strike, your home insurance policy would need to have already been updated with this new addition. This ensures that the full value of your property is taken into consideration.

Replacing the Roof

While it can be rather expensive to undergo a roof replacement project, it may be able to help you save on your insurance premiums. A new roof will offer more structural integrity and protection against the elements. The updated roof is likely to hold up better in the event of a fire, inclement weather, or other peril.

Because the roof is improved, your insurance company needs to know to ensure the proper value of the home is accounted for and to offer potential discounts for the renovation.

Installing a Pool

Swimming pools can offer relaxation, entertainment, and more. However, insurance companies view them as a liability risk. This is because you are likely to be financially responsible for expenses incurred as a result of someone injuring themselves while utilizing your swimming pool.

Therefore, it is important to speak to your insurance agent to find out what kind of impact a swimming pool can have on your home insurance. 

If you plan on partaking in any home renovations in Bloomfield, NJ, speak to an agent at E.S.T.I.R. Inc. for assistance in adjusting your home insurance policy. 

If you are a contractor who works in a type of business that requires a lot of work in other businesses’ properties or people’s homes, you should look into what type of contractor’s insurance you need. It is really important to do this, especially in case you are involved in an accident that causes harm to yourself or others. Contractors insurance is important for individual contractors to look into, but also the businesses who employ them.

E.S.T.I.R. Inc. in Bloomfield, NJ is proud to offer contractors insurance. Because it can be such a minefield, our agents gladly walk you through your insurance options and our quotes. 

Types of contractors insurance

Depending on the nature of your business or the service you do, you will need certain types of contractor insurance. We list a couple of the most common ones below for you:

Personal liability insurance/Umbrella insurance

Personal liability insurance is useful in case you cause someone else bodily harm or damage their property. Personal liability insurance enables you to cover any costs endured by individuals or companies.

Umbrella insurance is usually the most comprehensive type of insurance when it comes to liability, as it covers liability in most situations.

Workers’ compensation insurance

If you are not a contractor yourself, but employ others (or perhaps you are both), you should look into workers’ compensation insurance, which is usually mandatory as soon as you hire one employee. This covers the company in case the contractor is involved in an accident on the work floor and covers their costs if they need time to recover.

To look into contractors insurance today, call E.S.T.I.R. Inc. in Bloomfield, NJ or request a quote here. 

As a business owner, you are probably used to the paperwork and issues you have to deal with daily. While sorting out proper insurance might seem like another one, it can give you a lot of peace of mind if you know you have the right one for your business. 

E.S.T.I.R. Inc. in Bloomfield, NJ can help you make sure that you have the right commercial insurance, and discuss different quotes and options with you. 

Types of commercial insurance

Different situations can require different types of commercial insurance. Some of these include:

• You have a company car that either you or your employees use. For this, you need commercial auto insurance, which in some cases should be fairly comprehensive, just like auto insurance for personal cars you may drive. 
• You run a call center from an office building, or perhaps you run a dog sitting company from a hall. Either way, if you own property that you use for your business, you must look into business property insurance to cover any incidents. This could be from an employee hurting themselves on the property to large-scale issues such as a natural disaster causing damage to the property. 
• If your employees do get hurt while they are at work to the extent that they can’t work, you need to continue paying them. So this doesn’t come out of your pocket, and the employee doesn’t lose out while they can’t work. You can cover both of you via workers’ compensation insurance. 

If you want to discuss the above and other commercial insurance options, give E.S.T.I.R. Inc. in Bloomfield, NJ a call and we can talk to you about this. 

Sub-contractors are critical to the success of any construction project. Contractors will bring in sub-contractors to help make their lives easier. These professionals can help finish Bloomfield, NJ projects with more speed, high levels of quality, and great execution all around. They also need insurance, but questions may arise as to whether your contractor’s insurance policy covers them? Will your contractor’s insurance policy provide subcontractor coverage? Let us take a closer look.

Coverage for Subcontractors

When looking at a standard contractor’s insurance policy, typically coverage has its limits. You will not usually see sub-contracts getting coverage. Insurance is usually only extended to you and your full-time employees in the event of an accident or claim of a covered loss.

There are things you can do though to ensure your sub-contractors get coverage. When buying your insurance policy, you can extend your contractor’s insurance policy to cover them. This will carry an increase in your premium but will allow you to freely bring in each sub-contractor and protect them on the job.  

The other option is that you will need to require each subcontractor you hire to carry their insurance. In this instance, you just want verification they have insurance before they begin work.  

Conclusion

You need to have a sound awareness of what your contractor’s insurance policy covers. If you have a large-scale project in Bloomfield, NJ do not let your insurance get in the way. Take action now and begin to better understand the state of sub-contractors on your insurance policy. Work with our team at E.S.T.I.R. Inc. starting today to nail down your insurance needs.  

E.S.T.I.R. Inc. is an independent insurance agency. We offer coverage to the Bloomfield, NJ community and the surrounding areas. We strive to ensure that our clients are protected when an emergency situation arises. Through working with multiple carriers, we are able to offer our clients multiple options.

How New Jersey Business Owners Are Impacted By Remote Workers

Commercial insurance helps your business continue to function. There are several risks associated with operating a business. Commercial insurance protects your business if your inventory is stolen or vandalized. Your property is also covered if it is damaged due to a fire or natural disaster. Liability coverage is another important part of your policy. You are covered if one of your customers is injured while they are visiting your establishment. You can also add business interruption coverage that gives you a safety net if your business has to shut down for a few months.

Over the last couple of years, research shows that remote working opportunities continue to rise. Perhaps you have added the ability to work remotely to your Bloomfield, NJ business. Worker’s compensation protects your business if one of your employees is injured in the workforce. Remote workers are eligible for worker’s compensation, as long as they are contracted, employees. Make sure that your remote employees are working in a safe environment. If necessary, you may ask for pictures of their home office.

Cyber-attacks are a major threat to the online workforce. Hackers are constantly looking for ways to infiltrate networks and corrupt data. Cyber liability coverage protects your business if you suffer a data breach that leads to your customers or employees having their personal information stolen. If your employees are using business equipment while working from home, commercial property insurance covers any damages.

E.S.T.I.R. Inc. Will Help You Protect Your Investment

Visit our website to learn more information about commercial insurance.