Tag Archives: E.S.T.I.R. Inc.

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.

When Is It Time to Purchase Commercial Insurance?

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If you already own any type of business and you’re asking yourself this question, the answer is yesterday. If your business is not yet started but is in the works, now is a perfect time to talk to an insurance agent at E.S.T.I.R. Inc. to discuss your options.

The best time to purchase commercial insurance is in the planning stage of your business. This way you have time to work with your insurance agent to build the perfect policy for your needs. By talking about the vision for your business with your insurance agent, you can work with them to create your customized plan. When you talk to your agent as you’re planning your business and your insurance plan, you can discuss the types of coverage you’ll need such as property, liability, business interruption coverage, and more.

Just as important as buying your initial commercial insurance policy is updating your policy as your business grows and your needs change. For example, if you move from a home business to a brick and mortar office space, it’s definitely time to revisit your policy. This is especially important if you were initially insuring your business through your homeowner’s policy instead of through a commercial insurance policy. If you wait to make changes or buy new insurance, you could be left with gaps and devastating losses in the event of an incident at your business.

It doesn’t matter how big or small your business is, if it’s not already insured, it needs to be right away. If your business is located in or near Newark, NJ, contact an agent at E.S.T.I.R. Inc. right away to discuss your commercial insurance options. We’ll work with you to create the perfect policy for your business. 

5 Auto insurance myths

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With so much information across the internet about auto insurance, it is hard to weed out misleading information from the facts. Myths aside, the process of buying a car insurance policy can be daunting especially for first-time buyers in Newark, NJ. We debunk the 5 most common auto insurance myths:-

Your credit rating has no effect on your premium amounts
Most insurance companies refer to your credit history when determining your premium rates. A suitable credit rating shows that you are able to manage your financial affairs well and less likely to file for an insurance claim.

Your gender does not count when it comes to your premium rates
More often than not, women tend to pay lower insurance rates than men. This is because they are considered safer drivers. That being said, your driving record also influences your insurance rates. 

Your comprehensive insurance policy covers anything stolen from your car
An auto insurance coverage pays for repairs to damages caused during the vehicle’s break-in rather than the cost of the stolen items. However, a renter’s or homeowner’s insurance policy could compensate for such. 

Higher premium rates mean more coverage
Insurance plans differ from one company to another, thus the difference in pricing. As well, the structure of an insurance company has a huge effect on the premium rates. For instance, your insurer could be working with brokers whom they have to pay a commission resulting in higher premiums. 

One ticket automatically results in a higher premium 
While you need to avoid any traffic violations and incidents, a single ticket does not imply an increase in your premium amounts. Nevertheless, a higher number of traffic violations could skyrocket your rates.

Do you need to understand more about auto insurance in Newark, NJ? Get in touch with E.S.T.I.R. Inc. for a free estimate on your auto insurance coverage. 

Get an Insurance Review as Part of Home Renovations

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New room additions, finishing a basement or an attic, adding a bathroom, and other renovation projects improve a home and increase its value. When considering a renovation project it is also important to talk with your agent at E.S.T.I.R. Inc. serving Newark, NJ and the surrounding areas. You will want to upgrade home insurance coverage to include the construction costs of the renovations to make sure you have adequate coverage.

Covering the Cost of Renovations

Consulting with your agent while making plans for the renovations is a good idea because it is better to have coverage in place before the work is underway, just to make sure there is adequate protection during the entire process. Your agent can give you sound advice on the coverage needed and you can work with the construction estimates until the project is completed and all the final costs are in.

If you do not already have replacement cost coverage for your home, an insurance review along with a renovation project is a good time to consider it and to upgrade home insurance. Older homes may be under-insured simply due to the rising costs of construction and home repairs.

Many Homes Are Uninsured

Not having adequate home insurance is a common problem in the United States. A recent study by the research firm CoreLogic found that 60% of American homes have insurance that is an average of 20% less than replacement value. Many homeowners are not even aware of this problem and only learn about this fact after a catastrophe occurs. This is why it is very beneficial to be proactive about getting adequate home insurance and a renovation project is an especially good time to take care of this.

It is very wise to make sure your insurance needs are not neglected and your coverage is adequate. Contact your agent at E.S.T.I.R. Inc. in Newark, NJ to have a comprehensive home insurance review and get a quote for any needed upgrade to cover the costs of a renovation project.

FAQs About Contractor’s Insurance in New Jersey

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Are you a contractor with a growing business? Or have you been established for many years, yet are still not sure if all of your insurance needs are met? At E.S.T.I.R. Inc. we want the community business owners to be fully protected in case of any event. Here are some commonly asks questions about contractor’s insurance in Newark, NJ.

  • Is it a legal requirement to have contractor’s insurance in NJ? Commercial general liability with a minimum of $500,000 per occurrence is the requirement in NJ. It is not only legally required but the law also states that you must post the certificate of insurance and the telephone number of the insurance agency issuing it at your job site. 
  • Do I need an umbrella policy? The answer depends on your situation. A general liability policy covers one million at most if your project or potential risk is higher than that umbrella policies can cover up to ten million in a typical case. 
  • Why Would I need more than the minimum, I am just a small business? There are big risks in the contractor’s business regardless of the size of the job. For example, the materials you are working with and the whole job site may only amount to 100,000 which is within the range of minimum coverage. However, what if you lose a finger to a band saw? Or an employee gets severely wounded by a pressure washer? There are a million variations of bodily harm risk that makes a higher coverage-worthy. 

Contact us at E.S.T.I.R. Inc. if you have any further questions about contractor’s insurance or if you are ready to update your policy. We proudly serve business owners in and around Newark, NJ.