3 Questions You Should Ask About Auto Insurance

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

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.

Distracted Driving Statisticsyou could

E.S.T.I.R. Inc., serving Newark, NJ and the surrounding area, offers various commercial, home and auto insurance policies. Unfortunately, we see firsthand the devastation distracted driving has on people’s lives. And shockingly, people just don’t seem to learn the dangers of taking your mind off of driving for even a few seconds, as indicated by the high number of distracted driving instances. 

About Distracted Driving

Distracted driving includes any activity that takes your mind off of driving such as texting, talking on the phone, drinking, eating, talking to your passengers or using your entertainment system, among other activities. Texting is considered the most concerning distraction. A text may only take five seconds to send, but in that small window of time, it’s possible to cause a collision. Let’s say you were traveling 55 miles per hour while texting. In that five seconds it took to send a text, you could have driven the length of an entire football field, making texting while driving equivalent to driving this entire distance with your eyes closed. What’s even more shocking is that approximately 660,000 people are using cell phones while driving. 

Statistics

According to the National Highway Traffic Safety Administration (NHTSA), distracted driving claimed 3,477 lives while 391,000 were injured in 2015 alone. The NHTSA deemed distracted driving as a huge concern, especially for teenagers who are already at a disadvantage because they’re inexperienced drivers. In fact, drivers who are under the age of 20 are the ones involved in the highest percentage of distracted driver fatal crashes. In the United States alone, about nine people are killed and 1,000 injured in accidents involving a distracted driver, as noted by the Centers for Disease Control and Prevention. 

We advise always keeping your eyes, mind, and hands on driving. And another important safe driving tip is to always have auto insurance. Contact E.S.T.I.R. Inc., serving Newark, NJ and the surrounding area, by calling 973-481-5300 to get a quote.

Workers’ Compensation Coverage in Newark, NJ

Accidents are a facet of daily life. They can happen anywhere, including the workplace. Sometimes, employees get injured as a result of these accidents. Who is to blame for the injury? If the injury is work-related the employer will most likely be at fault. And paying workers’ compensation can be expensive for a company. That’s why holding workers’ compensation insurance is a necessity for employers. With workers’ compensation insurance, the employee will be compensated no matter who was at fault.

Requirements

In fact, it’s mandatory in New Jersey for employers to hold commercial workers’ compensation insurance. This mandate protects the employer and the employee. The employer is protected because they won’t have to pay medical and other benefits out-of-pocket. The employee is protected because they don’t have to go through a lengthy court proceeding. The employee will be compensated in a timely manner.

Employees or other individuals are encouraged to report employers that don’t hold workers’ compensation insurance. It’s illegal in New Jersey for a business, with employees, to operate without this coverage. A concerned party may contact the Office of Special Compensation Funds for more information.

An injured employee should report their accident as soon as possible. After an injury is reported, the employer should advise their insurance provider immediately. The insurance provider will determine if the injury is compensable. If so, the insurance provider will begin coordinating the compensation.

Contact Us

We at E.S.T.I.R. Inc. are happy to have been serving the greater Newark, NJ area for 23 years. Our agents offer workers’ compensation insurance and can answer any questions you may have. We have two offices located conveniently located in Newark, NJ and Princeton, NJ. Contacted E.S.T.I.R. Inc. today to learn more about how we can assist in protecting your business.

Protect Your Newark, NJ Home From Weather-Related Damage

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

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?

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?

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.

 

Four mistakes that could unnecessarily raise your car insurance premiums

You need to put money toward car insurance, but there is a lot of variation in how much you can spend on a policy depending on factors like coverage options and discounts. Unfortunately, a lot of motorists don’t put enough time and thought into their insurance and end up overspending.

The following are four mistakes that could unnecessarily raise your car insurance premiums:

Buying only the minimum coverage required by law

The minimum coverage required by law is typically only going to cover damage your vehicle causes other vehicles or property in an accident. It’s not going to cover damage to your own vehicle.

If your car is worth a significant amount of money, it’s a good idea to get collision coverage.

Neglecting to look into discounts you’re eligible for

There are various discounts out there for those who have taken driver safety courses or are students with good grades, for example.

Making payments monthly rather than bi-annually

Most car insurance providers are going to give you the option of either paying for a policy upfront that will last for six months or paying month by month. There is typically a discount that goes along with paying upfront. This means that, if you can afford to, you should pay upfront to save money over the long term.

Insisting on a very low deductible

A lot of motorists don’t like the idea of a higher deductible because it means that they’re going to have to shell out more cash in the event of an accident. However, lower deductibles typically mean higher premiums and could cost more in the long run.

If you want to learn more about saving money on car insurance in Newark, NJ, get in touch with E.S.T.I.R. Inc.

5 Reasons Every Small Business Needs Commercial Insurance

It’s an exciting time to open a business in Newark, NJ! To help new small businesses, E.S.T.I.R. Inc. has put together this helpful list of everything you need to know about commercial insurance.

Legally Required Insurance

In New Jersey, most employers are required to have some type of workers’ compensation coverage or be qualified for self-insurance. Most small businesses in the state purchase a commercial policy that at least covers the legal compensation requirements. However, a commercial policy that offers coverage that goes beyond the legal requirements can be hugely beneficial.

Property Damage

A commercial insurance policy can cover the cost of repair or replacement to your property should it become damaged by yourself or an employee.

Bodily Injury

If a customer or visitor is injured while on your property, this type of insurance could cover that person’s medical expenses. This coverage can extend to injuries causes by yourself or an employee at another person’s work place or home if you were there for business reasons.

Personal Injury

Commercial insurance could cover the costs of non-physical damages, such as those that infringe on a person’s rights, reputation, or that result from some form of perceived discrimination.

Legal Costs

Should you need to defend yourself and your business in court, a commercial insurance policy could cover the cost of your legal defense and judgments. This includes legitimate suits as well as lawsuits deemed to be “frivolous”.

There are many other situations where commercial insurance can be the perfect safety net for a small business owner. Call E.S.T.I.R. Inc. today to discover more options you have to protect the future of your business!