What Types of Commercial Insurance Should I Get for a New Business?

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When starting a new business in Bloomfield, NJ, entrepreneurs face numerous tasks, including determining the types of commercial insurance to purchase for their enterprise. Many different lines of commercial insurance can protect your enterprise, but the sheer number of policies can confuse many first-time buyers. The agents at E.S.T.I.R. Inc. can help guide you through the most appropriate commercial lines for your industry.

Essential Commercial Coverage

When determining what types of commercial lines to buy, you should consider several factors. These include your business type, location, assets, and number of employees. Some counties or municipalities require you to have certain protections in place, so check local requirements. Your business type will also determine if you need protection beyond the essentials.

The three essential types of commercial insurance are:

  • General liability – protecting you from claims of bodily injury or property damage caused by operations
  • Professional liability – covering claims of negligence or errors when offering advice
  • Workers’ compensation – providing medical benefits to employees injured on the job

Additional Lines to Consider

Daily operations often prompt business owners to consider additional coverage. Remember that you can always add protection when your operations expand. Other commonly purchased commercial lines include:

  • Commercial property – covering physical damage to buildings and equipment
  • Commercial auto – for accidents involving business vehicles
  • Business interruption – covering loss of income
  • Cyber insurance – for financial losses from data breaches or cyberattacks
  • Umbrella insurance – providing excess liability

You can bundle several lines of commercial insurance in a business owner’s policy (BOP) that provides a premium discount.

Find the commercial insurance lines that are appropriate for your company by contacting the professionals at E.S.T.I.R. Inc., serving Bloomfield, NJ. Call our office to get started on your coverage.

What Contractors Need to Know About Subcontractor Insurance

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When you’re managing a construction project, every detail matters—especially when it comes to insurance. At E.S.T.I.R. Inc., serving the community in and around Bloomfield, NJ, we work with contractors every day who want to protect their projects, their teams, and their reputations. One area that often raises questions is subcontractor insurance. If you’re hiring subcontractors, understanding how insurance fits into the picture is crucial.

Why Subcontractor Coverage Matters

Bringing subcontractors onto a job site introduces new risks, and it’s not safe to assume they’re automatically covered by your general liability policy. If a subcontractor causes damage or gets injured, you could be held liable if they don’t carry the right insurance. Verifying their coverage before work begins is an essential step in protecting your business.

Certificates of Insurance: More Than Just Paperwork

It’s common for contractors to request a certificate of insurance from every subcontractor. However, don’t just file it away—review it carefully. Ensure it lists the correct types of coverage, including liability and workers’ compensation, and that the policy limits meet your project’s requirements. Additionally, check if you’re listed as an additional insured whenever possible.

Safeguarding Your Bottom Line

Accidents happen, even with experienced crews. If a subcontractor’s policy lapses or doesn’t provide adequate coverage, you could be left dealing with the financial consequences. Taking a proactive approach to insurance helps you avoid costly delays, lawsuits, or damaged relationships with clients.

Before your next project, make sure you’re fully covered. Contact E.S.T.I.R. Inc., serving the greater Bloomfield, NJ area, to learn more about subcontractor insurance options and how we can help you keep your projects running smoothly and safely.

Policy Cancellation or Non-Renewal

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If you’re a new homeowner in New Jersey, it’s essential to protect your investment by purchasing homeowners’ insurance. Many homeowners have questions about which options of homeowners’ insurance they should invest in. If you’re near Bloomfield, NJ, our team at E.S.T.I.R. Inc. welcomes the opportunity to meet with you and discuss your insurance options. Our team has worked with homeowners in your area for over 25 years.

Policy Cancellation or Non-Renewal

When you buy insurance, you want to be sure you can rely on your policy. According to the NJ State Department of Banking & Insurance, all policyholders should be aware of the reasons why their policy could be canceled. Your insurance company can cancel your insurance if your premium is not paid on time. If your insurance is canceled, the cancellation isn’t effective until 10 days after your cancellation notice is delivered.

When your policy is renewed, your insurance company has the right to renew it with altered policy provisions or increased premium rates. However, according to the NJ State Department of Banking & Insurance, the company must notify you by mail at least 30 days before the renewal date. At that same time, the company may decline to renew your policy. If your policy isn’t renewed, the company must notify you at least 30 days before the renewal date.

Schedule Your Appointment Today

Homeownership is a source of pride, reflected in your home and property. Our team at E.S.T.I.R. Inc. takes similar pride in our ability to support and assist you in protecting your home. Homeowners near Bloomfield, NJ, have learned they can find the answers they seek when they work with one of our agents. Call us today, and we’ll help you find your insurance solutions.

Why You Need to Pay Off Your Traffic Tickets

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Being pulled over by the police can be both frustrating and embarrassing. Regardless of how courteous you are to the officer, you could receive a ticket if they determine you’ve violated a traffic law. You could contest this in traffic court, but that would require time and money, and there’s no guarantee of a favorable outcome. Ignoring the ticket and stashing it in the glove box is not a solution either! That can lead to even more trouble. While receiving a ticket can negatively impact your insurance rates, it’s best to settle them promptly.

Increased Fines and Suspension of Driver’s License

Avoid exacerbating the situation by committing another violation! If you thought the initial fine was hefty, it could double if you miss the payment deadline. Review the citation on your ticket and follow the instructions to avoid making a costly mistake. In New Jersey, you can settle this online, by mail, or at a designated court location. If you fail to make the payment, your license could be suspended, making it illegal for you to drive. You may even have a warrant issued for your arrest! There are also further legal complications to consider that can have serious long-term consequences for your driving record. If you genuinely believe you have a case, you may certainly argue for it in court. However, it’s best to settle the fine in most situations.

Contact E.S.T.I.R. Inc. Serving Bloomfield, NJ

If you are in the Bloomfield, NJ area and need auto insurance, please get in touch with us at E.S.T.I.R. Inc. We’ll be more than happy to assist you in finding the policy that best suits your needs.

Does Your Bloomfield NJ Business Need Cyber Insurance?

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If your Bloomfield, NJ business conducts multiple transactions online, stores customer/employee personal information, or handles large transactions, you may want to consider purchasing cyber insurance seriously. Recent statistics show that there are about 6.5 cyberattacks per day, and over 40% of these target small business owners.

What Does Cyber Insurance Cover?

Cyber insurance covers losses caused by data theft and/or destruction. These include the cost of lost data and data recovery, business interruption costs, and the cost of notifying customers and offering them credit monitoring services. If you lost funds due to the attack, you can also receive compensation for this. Furthermore, this type of insurance can also cover costs such as legal fees, settlement costs, and judgment costs if one or more affected parties decide to sue your business.

Coverage varies depending on the policy you choose. Read the fine print carefully to see which types of cyber incidents are covered and how much compensation you can expect to receive. If you have large quantities of data or very sensitive data on your IT systems, you may want to choose a policy that provides prevention training for you and your employees.

Contact E.S.T.I.R. Inc. for More Information

E.S.T.I.R. Inc. has over twenty years of experience providing business owners in and around Bloomfield, NJ with the insurance coverage they need to run a successful business. We take pride in getting to know each client’s needs and requirements and then finding the policy options that will be the best fit for their situation. Call us to learn more about our policy options or get policy quotes.

Does a Plumber Need Insurance?

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For plumbers in Bloomfield, NJ, it’s essential to understand the insurance they’re required to carry and any policies that might be beneficial but optional. Even the most skilled plumbing professionals can make mistakes that result in injuries or property damage. Other risks, such as getting into an auto accident while traveling to a customer’s home, also need to be considered.

Is It Required?

New Jersey law mandates that a plumber must have insurance unless they’re an employee of a business that already provides the necessary coverage. Both contractors and subcontractors must obtain coverage. At a minimum, you’ll need to sign up for commercial general liability insurance. Be sure to send proof of coverage to the state Division of Consumer Affairs.

Additional Insurance

You may need additional business coverage depending on how you run your plumbing business. Most plumbers travel to customers’ residences in motor vehicles, so they need commercial auto policies. Regular car insurance usually excludes business purposes. If your plumbing company has an office, you should also carry commercial property insurance that protects it.

An optional type of policy is umbrella insurance. It can give plumbers additional liability protection. New Jersey state law only requires workers’ compensation coverage if your plumbing business has employees. However, some commercial clients may require it even when you don’t employ anyone. A knowledgeable insurance agent can help determine what coverage is right for you.

E.S.T.I.R. Inc. is an independent insurance agency with more than two decades of experience. We have offices in Princeton and Bloomfield, NJ. Our helpful agents speak English as well as Spanish. We offer multiple types of business coverage, including life, home, renters, auto, and medical insurance. To get started, contact E.S.T.I.R. Inc. today by calling 973-481-5300.

Is Technology Making the Roads a Safer Place?

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Today, drivers have more options and safety features for vehicles than ever before, largely due to the advancement of automotive technology. Yes, many vehicles are safer today than in years past, but does that mean driving is safer today? Staying safe on the roads is also a big reason why so many drivers in and around Bloomfield, NJ rely on the proven and professional team at E.S.T.I.R. Inc. for all their auto insurance inquiries and concerns.

Is Technology Making the Roadways Safer?

It’s fair to say that many improvements, including in areas like tire pressure, braking, and mirrors, have generally made vehicles safer. However, vehicles are only one part of the equation. More than a few groups also have serious concerns about the negative impact of technology on drivers. Namely, distracted drivers who text, video chat, or engage with technology while driving are a problem. That begs the question: Is technology making the roads safer or more dangerous?

While this debate continues, one thing is sure: the need for protection like auto insurance remains. That’s why it’s a good idea to work with established and reputable agents to get the insurance and protection you need when you drive, regardless of how technology impacts road safety.

Auto Insurance Solutions in Bloomfield, NJ

If you live or drive in and around the Bloomfield, NJ area and have questions about auto insurance or need coverage for your vehicle, we can assist. Contact us to learn more and schedule an appointment with our friendly and professional team today at E.S.T.I.R. Inc. for the insurance solutions you need and deserve.

Does My Home Insurance Cover Burglary?

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Carrying home insurance is the most effective way to protect what’s likely your biggest asset. It’s also the most reliable way to ensure the security of your family in the event that your home needs repairs. One of the most common threats to homeowners is burglary, so it stands to reason that E.S.T.I.R. Inc., serving Bloomfield, NJ, often fields questions about whether or not home insurance covers burglary.

Understanding the Extent of Coverage

Most home insurance policies do cover burglary as a potential risk, but the extent of coverage will depend upon the terms of the policy. Therefore, you should carefully review the fine print to ensure that you have adequate protection as a homeowner in case your home is burgled.

Personal Property Coverage

Most home insurance policies include personal property coverage, which reimburses homeowners for stolen items. However, there are coverage limits, especially if you own high-value possessions like jewelry, electronics, and collectibles. Your policy may require additional endorsements or riders to cover expensive items like these fully.

Dwelling and Other Structures Coverage

Suppose a burglar damages a door or window to gain entry. In that case, dwelling coverage typically pays for repairs. Detached structures like sheds and garages may also be covered under the "other structures" portion of the policy.

Coverage Limits and Exclusions

Some policies exclude losses if the home was left unoccupied for an extended period or if the break-in was due to negligence, such as leaving doors unlocked. As mentioned above, cash and certain valuable items may have limited coverage unless extra protection is purchased.

For all the details pertaining to what your home insurance may or may not cover, contact your insurance representative at E.S.T.I.R. Inc., serving Bloomfield, NJ. We look forward to assisting you soon!

As a Contractor, Why Do I Need Umbrella Insurance?

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What Contractors Need to Know About Umbrella Insurance

Whether you operate a modest business as a contractor providing specific services or if your business is larger and offers a wide range of services, having enough insurance coverage is a necessity. As a contractor, you already have the required insurance the state requires for Bloomfield, NJ, and the surrounding areas. Contractors are required to have coverage, such as general liability, commercial vehicle coverage, and workers’ compensation. With help from our team at E.S.T.I.R. Inc., we will explain the importance of having additional coverage to protect your business. This coverage is known as umbrella insurance.

About Umbrella Insurance

In simple terms, umbrella insurance serves as an extra layer of protection for your business. If your company is involved in an accident and claims are filed, umbrella insurance steps in. You must have other policies to qualify to purchase an umbrella insurance policy.

Umbrella Benefits

As a contractor, you may work on large projects. In the event of an accident, you are more prone to encounter high-dollar claims. With umbrella insurance in place, the policy provides the additional coverage needed when a claim exceeds your standard policy limits for coverage.

Having an umbrella insurance policy can save you money, especially on these large types of claims. The extra cover can distinguish between protecting your company and financial ruin due to a lawsuit.

Why Purchase Umbrella Insurance?

There are several reasons to consider purchasing umbrella insurance. These include financial security, protection on company assets, assurance of coverage for large claims, coverage of personal injury claims, and more.

Contact E.S.T.I.R.

Stay updated with the coverage needed to protect your business assets and provide peace of mind. Call us at E.S.T.I.R. for information about what’s involved in protecting Bloomfield, NJ businesses with an umbrella insurance policy.

Choosing the Right Health Insurance Policies for Your Employees

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As a business owner, it’s crucial to select the right types of insurance policies to protect your company’s assets. If your business is in the Bloomfield, NJ, area, our team at E.S.T.I.R. Inc. is ready to answer your questions and help you make the right insurance choices. We’ve been working with businesses in your area for over 23 years.

Choosing the Right Health Insurance Policies for Your Employees

When choosing an insurance policy for your employees, it’s important to analyze the needs of your employees and make a choice that will benefit the majority. Some employers survey their employees to determine the healthcare needs of the majority. You’ll need to decide whether your company will pay part of the overall premium for the employees and whether you are willing to pay part of the premium for their spouses and children.

There are many types of health insurance policies available to employees. For example, you may decide to choose an HMO (Health Maintenance Organization), a PPO (Preferred Provider Organization), or an EPO (Exclusive Provider Organization). Another choice to make is how the employees will pay for the balance of their healthcare services. For example, some companies choose a Flexible Spending Account, which reserves a specific amount of the employee’s salary for healthcare costs and makes that amount tax-free.

Contact Us Today for Your Appointment

We remain dedicated to our mission of serving our community by offering the best insurance options for area companies. Businesses in the Bloomfield, NJ, area can count on our experience and commitment to customer service. Working with our team at E.S.T.I.R. Inc. will provide you with the business expertise you need. Call us for an appointment today, and let’s talk about insurance.

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