Tag Archives: Newark NJ

Getting the Right Commercial Insurance Policy is Vital for Your Business

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Businesses have different insurance needs than consumers, and when it comes to getting the right policy for your business you want to be sure you have what you actually need. With that in mind, E.S.T.I.R. Inc. can help with your Newark,  NJ business insurance needs. Whether you have a small, home-based business or a large industrial operation, or anything and everything in between, the right policy is critical. You have to protect your customers, but you also have to protect yourself and your employees and business, as well.

There are a number of great ways to increase the level of protection you give to everyone involved with your company, but one of those ways is to have a commercial insurance policy you know is right for your needs. Every business is different, and what needs to be covered in an office setting is far different than the kind of coverage needed in a factory. The number of employees, type of business, location, and whether customers are going to be on-site all matter. The right agent will ask questions, listen to your concerns, and ensure that they are advising you about the best policy for your needs.

Reaching out to E.S.T.I.R. Inc. in Newark, NJ is a great way to get the commercial insurance policy you need. Then you’ll have the coverage you want, and the peace of mind you need, to keep your business protected now and in the future. You’ll also have an agent you can work with, and one that can answer your questions and make changes to your policy anytime you need it. That will help protect your investment in the business, and also reduce your liability when it comes to injuries and other risks a business takes during normal operation.

Homeowner 101 Knowledge About Contractor Insurance

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If you’ve had your home in Newark, NJ for a while, you’re likely going to face the reality that a live-in structure will eventually need repair. Or you may have decided it was time for some renovations. Either way, the home needs some help, and a lot of what is involved requires specific skill and expertise to solve. That then means hiring a contractor to come in an do the work. However, before you trigger that latest task app on your phone or call a contractor in the yellow pages, you need to be aware of what contractors insurance means for you, the customer.

Contractors are generally required by law to be licensed and bonded. This means they go through basic skill and knowledge testing, secure a license with the state or local government in Newark, NJ to identify them as a business and individual, and they take out insurance to cover their work. The last part is the critical one because there have been enough cases where a "contractor" takes people’s money for a job and then never completes it, leaving damage and more costs to repair. A bond, essentially an insurance policy, is the homeowner’s protection to seek recovery when a contractor doesn’t follow through on the work promised and paid for or causes even more damage than repair.

Because contractor bonding laws and insurance tend to be a bit archaic, just trying to look up the information on the Internet can be confusing. Instead, working with the staff at E.S.T.I.R. Inc. you can get straight answers about how contractors insurance works as well as your own homeowner’s insurance if needed. Then you can start your project with some peace of mind. Give E.S.T.I.R. Inc. a call today to find out more.

Why Might Home Insurance Rates Increase?

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Owning a home is a good long-term financial decision.  While it can be a good idea to own your own property, it is also a very expensive asset that needs to be protected by home insurance.  When you have a home insurance policy in place when you buy your home, you may notice that your rates increase over time.  There are several reasons why Newark, NJ homeowners may see their home insurance rates increase.  

Claims Filed

One of the main reasons why your insurance rates will increase from one year to the next is that you could have filed a claim in the prior year.  Whenever you file a claim on your home insurance policy it will make you appear like a riskier customer going forward.  The home insurance provider will then increase your rates to compensate for that rate increase.  

Aging Home

Another reason why your rates will increase is that your home is getting older.  Older homes tend to provide more risk to insurance companies.  As your home gets older, the likelihood that you will file a claim will increase.  Because of this, the insurance company will increase rates to compensate.

Change to Environment

Home insurance companies are frequently analyzing changes in weather trends, floods, crime, and other expense hazards.  If your home is suddenly considered to be located in an area that poses more risk than before, the insurance company will likely increase your home insurance rates to offset the increased risk.  

For those that are in the Newark, NJ area and are seeing an increase in home insurance rates, contacting the E.S.T.I.R. Inc. could be a great option. E.S.T.I.R. Inc. will be able to help you build a great policy that meets your needs and also comes with a fair rate.  

Why You Should Make Sure Contractors Have Contractors Insurance When Hiring One

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Prior to hiring a contractor, it is important that you make sure that a contractor has contractors insurance. If they do not have this type of insurance and they make a mistake or injure themselves on your property, it could be detrimental to you. At E.S.T.I.R. Inc., serving the greater Newark, NJ area, we want you to understand why this type of insurance is so important. Here is what you need to know about contractors insurance. 

What Contractors Insurance Is

Contractors insurance is primarily designed to help cover the work a contractor does on your home or property. If the contract makes a mistake and it damages your home, or if the work needs to be repaired due to faults, the insurance covers the damage and repairs that are needed. In addition to this, contractors insurance also covers the contractor in case they are injured while on your property. 

The Importance of Ensuring Contractors You Hire Have Contractors Insurance

If a contractor doesn’t have contractors insurance, they can come after your homeowner’s insurance if they are injured on your property. Additionally, you may have to pay out of pocket if they damage your home and do not have the right type of insurance to cover it. As such, it is important to ensure they always have contractors insurance before hiring them to complete any work. 

Contractors insurance is important to both the contractor and the homeowner utilizing the services of the contractor. If you are a contractor without contractors insurance, homeowners may be wary about hiring you. Contact E.S.T.I.R. Inc., serving the greater Newark, NJ area today to learn more about obtaining this type of insurance policy. 

3 Questions You Should Ask About Auto Insurance

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The idea of not buying a policy to secure your car can be tempting. No doubt car insurance policies are usually expensive however no car cover is a very bad idea. For starters, it is worthy of note that all fifty states in the country, including Newark, NJ, are against driving an uninsured car. In addition, if you have an accident and you are wrong, you could be sued for everything you own. Instead of going undercover, there are a couple of questions about auto insurance you should discuss with your agents at E.S.T.I.R. Inc. to help you choose the best possible policy.

What is full coverage?

There is no "total coverage". If your insurance company sells all the protective measures they had in their arsenal, there would always be things that would not have been covered. An example is the use of vehicles for illegal activities. Avoiding police, smuggling drugs or other illegal substances or people and intentional criminal offense are a good example of things you would never cover if your vehicle was damaged or destroyed.

What is the level of risk?

Car insurance risk assessment is based on a number of factors, such as age, sex, occupation, place of residence and driving time. Prices for new drivers are likely to be high, and persons with criminal records will also be labeled as higher risk. The higher the risk, the higher your premium will be.

What are my payment options?

Auto insurance is an excellent financial obligation so it is necessary to determine how to pay for it. Most insurance companies offer the possibility of paying an annual lump sum or paying half an annual amount every six months. The most frequent payment frequency is monthly, as it tries to make the budget more realistic, but in the long run, it can increase your annual costs. However, if you can afford an annual fee, it usually means you are entitled to a discount so if you can pay an invoice instantly, it’s advisable to do so.

Before you can hit the road, car insurance is the most important thing on your list of obligations! But the demand for car insurance can be a complex problem if you have not done it before and you do not know what to look for.

For more information about finding the right coverage in Newark, NJ contact E.S.T.I.R. Inc.

 

Rising Legal Costs Kills Small Businesses Prematurely

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Guess what the number one killer of small businesses in Newark, NJ tends to be in the first year? It’s not competition or licensing. It’s not physical location start up costs or business licenses. And it’s not the cost of labor, even though employees can be expensive.

Give up?

It’s litigation. When the cost of an attorney runs well over $300/hour and a full case cost just to get to court day for the actual trial can exceed $500,000 it’s no surprise many small businesses just don’t have the assets or liquid cash to take on such a challenge. Add in the fact that many small businesses are not separate entities and instead are sole proprietorships or partnerships, then bankruptcy is obviously the only path of quick resolution and limitation of costs getting out of control.

And it doesn’t take much for a business to trigger a lawsuit either. From what E.S.T.I.R. Inc. staff have seen, the typical claim can come from anything ranging from a contract dispute to the physical store address not being designed properly for consumers with disabilities to pass freely. Right or wrong, legal interactions are painfully expensive and even just settling them quickly can cost in the thousands of dollars, both in terms of payouts as well as paying for the business’ own representation.

However, running the gauntlet on a legal baccarat table doesn’t have to be your choice starting a business. It’s ludicrous to spend all that energy, money and time trying to make a new company thrive only to see it all taken away in one legal filing. That’s where commercial insurance comes in as a critical safety net protection. E.S.T.I.R. Inc. can provide your business the critical understanding it needs to choose the right policy for operations. And their expert staff can help Newark, NJ businesses of all types, regardless of industry.

Protect Your Newark, NJ Home From Weather-Related Damage

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Homeowners in the greater Newark, NJ area are familiar with the importance of protecting their homes from damage and theft, but sometimes overlook obtaining coverage for weather-related damage. Many residents do not realize that any weather-related damage protection that is included in their primary homeowner’s policy is often insufficient. By putting additional coverage in place, homeowners can gain the peace of mind that comes with knowing that their home is adequately covered in the event that the northern New Jersey area experiences another catastrophic weather event. The well-trained and knowledgeable staff at E.S.T.I.R. Inc. is here to help you make sure that you have all of the protection that you want.

Another benefit of having comprehensive home insurance in place is the assistance that your insurance agency and policyholder can provide during the claims process. Policies that cover weather-related damage can also be structured to include reimbursement for having to relocate when your home is inhabitable while repairs of the weather-related damage are underway.

Having an agent available to help you navigate the claims process can make the entire process one that is much less stressful. In the event of total home loss, it is unimaginable to consider the outcome if there is no insurance coverage in place. Having the additional coverage that will protect you and your family from any weather-related damage that is caused to your home can give you the added confidence necessary to weather any storm.

E.S.T.I.R. Inc. is dedicated to meeting the comprehensive insurance needs for their clients in the greater Newark, NJ and would welcome the opportunity to work with you and provide the protection most appropriate for the needs of your family. Please call or stop by to meet with one of our dedicated agents today!

Start Your Business Right

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Becoming a contractor can be a profitable decision. Payscale.com’s statistics denote a general contractor makes an average of $29.76, which is equivalent to $61,900 per year. While developing a marketing plan is vital in the initial stages, getting contractor’s insurance from E.S.T.I.R. Inc. should be on the top of the list of tasks to complete. We serve Newark, NJ and the surrounding area. 

1. Determine Your Target Audience

Depending on what service you’re offering, your target audience may vary. You should craft most of your marketing efforts to focus on your target audience. 

2. Develop a Marketing Plan

Think carefully about the different ways you want to market your services such as on social media, Craig’s List and even in the business’ of people you know. You may even want to hire a marketing expert or a writer to enhance your marketing efforts. 

3. Licensure

If you’re not currently licensed for what you do, you should check into the state laws to determine if you must have certain licensure to practice. Keep in mind, obtaining the licensure, even if it’s not required, can help you draw in customers. People will feel more confident in your skills if you’ve obtained professional licensure. 

4. Further Your Skills

You may want to take classes to improve your skills or enhance the skill set you have. That way, you’re able to perform the job more satisfactory or offer other services to make you more versatile. 

5. Get Insurance

It doesn’t matter how good you are, accidents happen, and you don’t want to lose your business over a mishap. Always have insurance to protect in the event something goes unexpectedly. 

To get a quote for contractor insurance, contact E.S.T.I.R. Inc. at 609-688-1800 today. We serve Newark, NJ and the surrounding area.  

How Can Your Company Benefit from Business Interruption Coverage?

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Business interruption insurance can protect your business from financial ruin in the event of an unexpected disaster. If your business has to shut down due to extensive damage to your building or products, business interruption coverage provides the financial means to sustain your enterprise until you get back on your feet.

Judging from recent events, disasters can strike at any time. Smart business owners will secure their future by obtaining the right insurance coverage for their needs. At E.S.T.I.R. Inc. we can help you obtain a business interruption policy geared to your individual situation. Here are some of the ways business interruption coverage can benefit your Newark, NJ firm.

Replaces Lost Revenue

Extensive damage to your business property or goods could cause your business to close temporarily until repairs can be made. A shut down will result in loss of business income. In the meantime, your company has to continue paying its bills. It may even incur other expenses due to the disruption of business. If a disaster destroys your workplace and you need to vacate the premises temporarily until repairs are made, your business interruption policy will cover lost revenue until you get back on your feet

Business Expenses

Business interruption coverage will also pay for fixed business expenses such as your rent and utilities during your shutdown so you don’t have to pay these expenses out of pocket. Depending on your business interruption policy, you can also get reimbursement for:

  • Rental of a new temporary location
  • Cost of moving to and operating from a new location
  • Employee wages

Any time you shut down a business you run the risk of losing customers to competitors. With business interruption coverage from E.S.T.I.R. Inc. Newark, NJ, you benefit from financial resources to secure your business until you can get back on your feet.

I Purchased an Older Car. Is Liability Insurance Enough?

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Is Liability Insurance Enough for my Older Car?

Think of liability insurance as the minimum coverage available that can protect you, the owner of the vehicle, against lawsuits. This basic policy will likely protect you from having to pay out-of-pocket to repair the automobile or property damaged during an accident of which you were at fault. Keep in mind; it does not pay for repairs to your own vehicle or property.

Liability insurance is only available if you own your vehicle outright. For some people in Newark, NJ, the cost of collision or comprehensive policies is simply not in the monthly budget. Luckily, the agents at E.S.T.I.R. Inc. understand how to get you the best coverage you can afford. 

Components of Liability Insurance

1. Third party insurance is the component that covers the owner of the vehicle against lawsuits.

2. Personal injury protection covers you up to $250,000 towards medical expenses. You can choose to add essential services to the policy which would cover things like nursing assistance while recovering.

3. Loss of income coverage can be added to provide coverage for up to 60 percent of your income during physician verified recovery time. 

4. Death benefit coverage of up to $10,000 in the unfortunate incidence that the accident caused a death. Funeral expenses of up to $2,000 can be added to the policy. 

How is Collision Insurance Different?

Collision insurance goes beyond liability in that it covers repairs to your vehicle or replacement of your vehicle if it is totaled in an accident.

What About Comprehensive Insurance?

Not all accidents involve driving. Comprehensive will cover damage such as a tree falling on the vehicle or hail damage. It also covers theft or vandalism. 

Proof of insurance is required to drive legally in Newark, NJ. Contact us online at E.S.T.I.R. Inc. or by phone at (973) 481-5300 if you have questions about which insurance is right for you.