When Should You Review Your Homeowner Policy?

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E.S.T.I.R. Inc. serves homeowners in the Bloomfield, NJ area with all of their insurance needs. Agents understand that as time passes, your needs change when it comes to your homeowner’s insurance. A home remodel or significant changes to your property outside your home may require you to review your policy so that you are sure you have the coverage you need to protect your financial investment.

Renovations, Remodels, and Upgrades

Instead of looking for a new home, many homeowners are choosing to keep their current home and make renovations or upgrades. Adding an additional room or two is also a possibility. These types of changes can significantly increase the value of your home making your old insurance policy sorely inadequate. Even small upgrades such as the installation of smart appliances and a well-planned security system may have a dramatic impact. It is extremely important that you notify your insurance agent so you can upgrade your policy to match your home’s value.

Exterior Changes, Such as Landscaping, Swimming Pools, Fences, and Sheds

The addition of a swimming pool, privacy fences, sheds, and expensive landscaping/lighting systems can also increase the value of your home. Notifying your insurance agent is essential if you want your new items to be fully covered. The opposite is also true. If you remove any buildings or get rid of a swimming pool or landscaping, this may reduce the value of your property.

If you are thinking about or have already completed any substantial home improvements call the agents of E.S.T.I.R. Inc. today and have them go over your policy with you. The agents offer policy reviews to all of their clients who live in the Bloomfield, NJ and surrounding areas. Visit today and make sure you have the coverage you need.

Why does someone in New Jersey need contractor insurance?

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The Bloomfield, NJ area can be a great place to start a small business. For those that are skilled in a trade or construction, going into business for yourself here and becoming a contractor could be a great option. If you are going to become a contractor here, it is important that you get a full contractor insurance policy. There are several reasons why you may need to have this insurance. 

Provides Necessary Liability Protection

One of the main reasons that a contractor is going to need to have insurance is that it can provide them with necessary liability insurance. A contractor will always have some liability risk when working any job. This can include accidentally causing damage to a job site or making a mistake that leads to bodily injury. When you have a contractor insurance policy, you are going to have the coverage you need to protect against this risk.

Needed to Comply with Lender Requirements

When you are a new contractor that is trying to get a business off the ground, taking out a business loan can be a great option. These loans can provide you with some working capital while also helping you to pay for the tools and equipment you need to run your business. If you have taken out a loan, you will likely need to have a contractor insurance policy to meet your lender’s requirements

When you are shopping for insurance in the Bloomfield, NJ area, you should reach out to the team at E.S.T.I.R. Inc. The insurance professionals at E.S.T.I.R. Inc. can help you to get into a policy that offers the right coverage for your small business. They understand the needs and risks that contractors have and can build a policy that mitigates these as well as possible. 

Risks of Operating Your Business Without Commercial Insurance

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Running a business is quite expensive. Therefore, the last thing you want to do as a business owner is add on expensive commercial insurance. However, business insurance is not just a luxury – it is a necessity that protects the business itself, its owner, and employees. If you are still thinking of skipping it and operating your business without it, E.S.T.I.R. Inc. serving Bloomfield, NJ has prepared the list of risks you may face if you choose not to buy commercial insurance: 

  • Failing to protect your employees.  Having workers’ compensation is important not only because it is required by the government, but also because it protects employees. It takes care of employees if an accident happens by preventing them to work and makes sure that you, as an employer, can afford their medical bills. 
  • Property loss.  By deciding to not carry commercial insurance, you should understand that risk losing your commercial property. Without insurance, you can lose all your assets due to natural disasters, folding, free, theft, and others. 
  • Interruptions. There is no businessman owner who wants his business to be closed. However, it is not always possible to avoid. Those business owners who have commercial insurance, are financially protected. However, without commercial insurance, you have a risk of facing high out-of-pocket costs that can become a serious financial burden. 

Commercial insurance is a necessity for any type of business today because it offers protection against a variety of losses. If you start your business in Bloomfield, NJ and you want to make sure that your company, yourself, and your employees are protected, contact E.S.T.I.R. Inc. to talk to one of our experienced agents and find out what options are available. 

Does Auto Insurance Cover Possessions In My Car?

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If your car is stolen or totaled, and it had some of your possessions inside, you generally are not going to be going to your auto insurance provider to get those items replaced.

That being said, there are certain items that you might be able to include on your auto insurance with the value of your car. A spare tire, for instance, might be included with the value of the car as, after all, it was part of the sticker price. But you generally won’t be writing an itemized inventory of everything that you keep in your car and turning that into your Bloomfield, NJ auto insurance agent.

Certain modifications and add-ons can be insured, as well. Again: With the total value of the car.

Fortunately, most of your possessions will be included in your home insurance, condo insurance, or renters insurance policy. If you have them included in your inventory, then it doesn’t really make a difference to your provider if the item was damaged or lost at home, or while it was in your car. You need to keep an up-to-date inventory as there’s no guarantee that an item will be covered without letting your home insurer know what they’re protecting. But your home insurer will cover possessions in your car as well as your home. This doesn’t mean it’s a good idea to leave expensive items in your car. Past a certain point, this can be regarded as negligence on your part, but your possessions are covered even in your vehicle.

If you’re still shopping around in Bloomfield, N.J. for an auto insurance provider, get in touch with us at E.S.T.I.R. Inc. At E.S.T.I.R. Inc. we can compare quotes and get you the insurance you need.

Will Remodeling Your Home Affect Your Home Insurance?

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Remodeling your Bloomfield, NJ home will impact your home insurance. Some projects can lower your rates while others may increase your premium due to your home requiring more coverage. By discussing your renovation plans with an agent from  E.S.T.I.R. Inc., you’ll have a better idea of how to adjust your policy to include remodeling projects. Here are a few ways renovation projects can affect your home insurance.

Raise Home Value

Major home renovations involving your kitchen or bathrooms can raise the value of your Bloomfield, NJ home, especially if you use costly materials in your project. Depending on your current home coverage, you may need to increase the limit of your dwelling insurance to safeguard your property against damage or loss. You’ll also need to add renovations to your coverage so they’ll be protected by your policy.  

Increase Property Coverage

If you bought new furniture or high-end electronics as part of your remodeling, you may need to expand your property insurance to cover these items. Sometimes the value of costly items exceeds the limits of a standard home policy, requiring that you purchase extra insurance to protect these goods from theft or harm.  

If you’re storing expensive carpentry tools and supplies in your garage while working on DIY projects, make sure they’re protected by your property insurance coverage. You should also review your liability coverage to ensure any handyman friends who are helping you on your project are protected against accidents. 

Rate Changes

Remodeling projects can increase or decrease your home insurance costs. Projects that enhance safety like a new roof or plumbing system could help reduce home insurance costs. In contrast, adding a pool to your home can increase your premium due to the risk of pool accidents.

For help in purchasing or updating your home insurance in Bloomfield, NJ, contact us at E.S.T.I.R. Inc.

How much contractor insurance should i buy?

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If you are in the contracting business, you are likely to face financial loss in case of an accident or a disaster. A contractor insurance policy offers coverage against financial obligations resulting from unexpected or unprecedented events. If you are a Bloomfield, NJ resident, feel free to talk to our E.S.T.I.R. Inc. agents who will guide you on what you to include in your contractor insurance policy.

What is contractor insurance?

Contractor insurance offers two forms of coverage: liability insurance and property insurance.

Liability insurance

  • Body injuries

While every organization has put in place safety measures and work ethics, accidents could still occur in the workplace resulting in injuries. Mishandling of tools and materials often exposes employees and third parties to accidents. Contractor insurance protects you against the financial obligation arising from lawsuits as a result of injuries happening in the workplace.

It is crucial that you disclose to our E.S.T.I.R. Inc. agents about all the possible accidents you are likely to experience at your workplace.

  • Copy right claims

When developing a new product to challenge the competition, you are likely to be sued for copyright infringement. Contractor insurance bears the obligation of settling such matters in a court of law.

  • Product claims

If you are in the equipment selling industry, your equipment is likely to cause destruction of company products resulting in legal battles. The insurance company bears the cost of such lawsuits and cost to repair damaged products.

Property insurance

The construction industry faces the risk of property or equipment damage. In some instances, depending on the activities of your company, other structures near your business premises cannot be utilized. The insurance company bears the financial obligation arising from such circumstances.

How much contractor insurance should you bear?

The amount of contractor insurance to purchase is dependent on the risks associated with your business. Kindly give our E.S.T.I.R. Inc. agents at Bloomfield, NJ a call to analyze with you the best policy for you or visit our website for more information.

Does a Service-Based Business Need Commercial Insurance?

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The agents of E.S.T.I.R. Inc. understand how important it is to maintain sufficient coverage on your business. Without having the right amount of commercial insurance on your service-based business, Bloomfield, NJ residents leave themselves open to a variety of liability concerns that may eventually cost them their livelihood. Purchasing a commercial insurance policy for your service-based business should be considered an essential purpose.

Commercial Liability

Commercial liability covers many different types of loss ranging from personal injury accidents to property damage caused by storms. Commercial insurance also covers loss caused by theft, defective product claims, and poor workmanship. It is up to you as a business owner to protect yourself from liability issues. Providing top quality workmanship and products are good ways to maintain a positive reputation. Commercial liability insurance and umbrella insurance are often purchased together.

Separating Personal insurance from Commercial Policies

Insurance agents often stress how important it is to keep your personal insurance policies and your commercial insurance policies separate. Commercial liability can devastate your personal financial situation. With a commercial policy protecting your business, you won’t have to worry about an accident or liability issue affecting your family’s future.

Business owners who live and work in the Bloomfield, NJ area can contact E.S.T.I.R. Inc. to find out all of the benefits of having a commercial insurance policy in place. The ultimate goal of any commercial insurance policy is to protect your business and its assets without affecting your personal security. Contact your insurance agent today and discuss your commercial insurance options. You will be able to find the perfect policy that will protect your service-based business and keep it on track financially.

Why do I need to create a home inventory

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When people think about the American dream, owning a home is high on the lists of things that make up that dream. With homeownership comes responsibility and one of those responsibilities is to protect your investment. For most people, buying a home is the largest investment they will ever make. Nobody likes to think about the bad things that can happen to their home but the reality is that many homeowners will file a claim for damages with their insurance provider. At E.S.T.I.R. Inc. in Bloomfield, NJ they believe that creating a relationship with their customers is a top priority as well as providing the latest information available. 

When you need to file a claim with your home insurance carrier they will need to know exactly what you have lost. You probably think that you know what you own but most people own a lot more than they realize. A home inventory is a written, video, or digital record of your home, room by room. You will be surprised by what you have in your drawers and closets that you would have never remembered. You need to also put any supporting documentation with your home inventory. The more information you have to give to your insurance company the easier the whole process of getting reimbursed will be. 

Once you have completed your home inventory and gathered whatever documents you have, you need to keep these is a safe place. A safety deposit box or online are two potential places where it will be safe and easy to access. 

Suffering a loss to your home is not something that anyone ever wants to happen. But having a home inventory can help remove some of the stress. At E.S.T.I.R. Inc. in Bloomfield, NJ our staff has years of experience and love to share that experience with their customers. Stop by the office or give us a call for a no-obligation quote. 

FAQs About Car Insurance in 2020.

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Are you a new driver in Bloomfield, NJ? Or have you been driving a while under someone else’s insurance policy and simply do not know much about auto insurance in general? At E.S.T.I.R. Inc. we want to make purchasing auto insurance and understanding your current policy as simple as possible. Here are some of the most common questions we receive about auto insurance in New Jersey. 

Frequently Asked Questions About Auto Insurance in 2020. 

  • What type of auto insurance is required in NJ? In New Jersey, you must carry two types of liability insurance, property damage, and bodily injury. These are the minimum legal insurance requirements before you can register your vehicle. 
  • How much coverage should I have? You can keep the minimum legal requirements only but it is easy to upgrade to more comprehensive coverage that will leave you in a better situation after a car accident, whether you are at fault or not. You can also customize your policy to fit your situation or specialized value of your vehicle. 
  • My teenager just started driving should I increase coverage? It would be a good idea to upgrade if you only have liability. It is a requirement to add your teen driver to your insurance, be sure to ask about honor student rates and other considerations before they get behind the wheel for that first time. Once your teen purchases their own vehicle they can also purchase their own policy and if they no longer drive your vehicle they can easily be removed from the policy. 

If you have any further questions or if you want to purchase a policy contact us at E.S.T.I.R. Inc. We serve Bloomfield, NJ and the surrounding areas with quality insurance services to protect you and yours. 

What is included with contractor’s insurance?

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If you are in the Bloomfield, NJ, and are a skilled technician or contractor, starting your own company can be a great idea. This area of New Jersey offers a lot of opportunities to contractors as the strong local economy and population base can keep your business very busy. If you are going to start your own company, you need to get the proper insurance in place. There are several parts of a contractor’s insurance policy that make it a great form of insurance to have. 

Contractors Errors & Omissions Insurance

One form of insurance that makes contractors insurance a good investment is the contractor’s errors and omissions insurance policy. No matter how skilled you are as a contractor, there is always a chance that you will have an oversight or mistake that causes damages. If this occurs, the contractor’s errors and omissions insurance will give you liability coverage for these errors. 

Property Protection

A contractor also needs to have contractors insurance to protect their business assets. A contractor is likely going to have a variety of tools and pieces of equipment that are needed to get a job done. If you have a contractor’s insurance policy, you will get coverage for these assets. This will ensure you can replace them if they are damaged or stolen. 

If you are a contractor in the Bloomfield, NJ area, getting contractor’s insurance should be considered a necessity. In a lot of situations, customers are going to require that you have a good policy before starting a job. If you are looking for a new policy for your business, you should call E.S.T.I.R. Inc. as soon as you can. The team at E.S.T.I.R. Inc. is aware of all of the risks facing contractors today. They can help you get into a policy that mitigates these as much as possible.