3 Reasons to Get a Home Insurance Rider

A standard home insurance policy will provide you with basic coverage to protect your Newark, NJ home and personal effects within certain limits. This policy, however, may be insufficient to cover the cost of repairing or replacing high-end personal effects in the event of damage or loss. This is where an insurance rider or endorsement comes into play.

A rider provides you with extra coverage to protect valuable belongings against such perils as fire, water damage, vandalism and theft. Here are a few reasons why you may want to consider adding a rider to your E.S.T.I.R. Inc. insurance policy.

Costly Investments

If you’ve invested in costly goods such as pricey electronics, fine art or antiques, a rider will protect your interests if these items suffer damage or loss due to a natural disaster. Without adequate protection, your investments could be rendered useless if a fire or storm were to unexpectedly ravage your property. A rider will also cover the cost of replacing these goods if your home is targeted by burglars.    

Family Heirlooms

Rider insurance will cover costly repairs of family heirlooms if they suffer damage from accidents, fire or storm, enabling you to continue the tradition of passing heirlooms to the next generation when the time comes.

Expensive Gifts

In like manner, a rider can protect costly gifts you receive from family or friends over the years. Posh jewelry, designer clothing or a pricey stereo system could be difficult to replace if they are damaged or stolen. If you’ve received gifts that are valued higher than the limits of your current insurance coverage, it’s to your advantage to protect them with a home insurance rider.

For more information on how rider insurance can protect your personal belongings, contact us at E.S.T.I.R. Inc. in Newark, NJ.


Should you have commercial insurance at the start of a new business?

The question of whether to invest in commercial insurance with E.S.T.I.R. Inc. right at the start of founding your Newark, NJ business depends on a number of factors. Ultimately it comes down to risk.

This is to say that not all businesses will require insurance right at the start. A startup in your garage will grow over time, and it may require a policy before you knwo it, but it probably does not when you are just working on a laptop on your own.

On the other hand, just about any service industry will require commercial insurance right up front. If you’re running a restaurant, a retail store, anything with a physical location where customers or clients will be visiting you, you’re at least going to need commercial general liability alongside some other coverage policies depending on the nature of your business.

Your business might not involve any direct contact with customers at all, but it may be necessary to seek a policy through E.S.T.I.R. Inc. simply because of the scale of the business. If this isn’t a simple startup, but rather, a team of investors entrusting you to, for instance, flip real estate or found a media company, then you need to consider how you’re going to protect your investors’ from damages and liability, and commercial insurance can help in this regard.

Starting a new business in Newark, NJ comes with a number of challenges, and one of them is assessing risk. If you’re not sure what your risks are, speak with other professionals in your field, and always err on the side of caution.