Four mistakes to avoid when it comes to contractor insurance

Carrying insurance coverage is essential if you run a contracting business in Bloomfield, NJ. Protect your business with a contractor insurance policy from E.S.T.I.R. Inc.

Unfortunately, contractors sometimes make costly mistakes when it comes to insurance coverage. Here are four mistakes to avoid when it comes to contractor insurance. 

Failing to purchase adequate coverage

Business owners who own contracting businesses need to make sure their policy includes an adequate amount of coverage. If your contracting company faces a lawsuit, the resulting expenses could put you out of business if you don’t invest in enough coverage. 

It’s always best to err on the side of caution and invest in extra liability coverage to protect your company in the event of a lawsuit. 

Being unaware of legal requirements

In New Jersey, contractors are legally required to carry insurance to register with the state. Ensure that your contractor insurance policy meets all your municipality’s legal requirements. 

Thinking that subcontractors who work for you will be covered under your policy

Contractors can’t assume that their insurance policy will cover their hired subcontractors. You need to look into your contractor insurance policy details if you work with subcontractors.

Neglecting to reevaluate your coverage needs periodically

If your contracting business grows or starts taking on new projects, you might need to adjust your insurance policy accordingly. Contractors need to update their coverage periodically to ensure their policy is adequate for their needs. 

Insurance your contracting business in Bloomfield, NJ with a policy from E.S.T.I.R. Inc. Give us a call, and we can provide you with a quote on a contractor insurance policy that meets your company’s needs.

Ways Commercial Insurance Products Can Protect You Against Lawsuits

Commercial insurance is a critical safeguard for businesses, and one of its key functions is protecting against lawsuits. At E.S.T.I.R. Inc., serving Bloomfield, NJ, we want to help you learn how commercial insurance products can shield you and your business from legal actions and financial and legal repercussions.

General Liability Insurance

General liability insurance is the foundation of commercial insurance coverage. It protects your business from claims related to bodily injury, property damage, and advertising injury. If a customer slips and falls in your store or if your product damages someone’s property, this insurance steps in to cover legal costs and potential settlements.

Professional Liability Insurance

Professional liability insurance, also called errors and omissions insurance, is a must if you provide services or professional advice. It shields your business from claims of negligence or mistakes in your professional services, ensuring you’re protected against costly legal actions.

Employment Practices Liability Insurance (EPLI)

EPLI protects your business from lawsuits that may be related to employment law. This may include topics such as discrimination, harassment, or wrongful termination. In today’s litigious society, EPLI is crucial for businesses, providing legal defense costs and settlements coverage.

Commercial insurance products offer a comprehensive shield against lawsuits, helping you navigate the complex world of legal actions. Whether it’s general liability, professional liability, employment practices liability, or cyber liability insurance, having the right coverage in place is essential for protecting your business’s financial stability and reputation in the face of legal challenges. If you aren’t currently protected or want better protection, the team at E.S.T.I.R. Inc., serving the greater Bloomfield, NJ area, can help. Contact us to discuss how we can help protect your business against lawsuits. 

Homeowners: Shore Up Your Peace of Mind with New Jersey Auto Insurance

Bloomfield, NJ, homeowners who have invested their heart and soul into meticulously placing every piece of furniture in "just" the right place in their homes understand the value of protecting their most prized possessions. 

If you’ve already protected your home and valuables from theft, vandalism, and accidents — have you also done the same to protect your auto investment?

Why New Jersey Auto Insurance Matters for Homeowners

Jersey drivers are legally required to have auto insurance to protect their vehicle and its passengers when taking a quick trip to the store, driving the carpool to work, or taking a family trip. 

Smart drivers talk to a trusted auto insurance agent about the advantages of bundling their home insurance policy with their auto insurance policies to get a discounted rate. 

Whether it is keeping cool while dealing with heavy traffic congestion, navigating toll roads, or driving through blinding snow in coastal storms, experienced insurance agents at E.S.T.I.R. understand New Jersey residents’ unique driving challenges. 

Our agents can help you choose an auto insurance policy to cover your vehicle for liability, comprehensive, collision, uninsured motorist coverage, and value-added protections that extend your policy. 

We offer a wide range of comprehensive insurance products to help people from New Jersey protect their homes, autos, and businesses.

Talk to a knowledgeable agent to learn about your coverage options. A licensed agent at E.S.T.I.R. Inc. can review your driving and insurance history and offer options.

Don’t Leave Your Car Out in the Cold without Auto Insurance!

Winter is quickly approaching, so having your insurance ready before frigid temps take over is more important than ever. 

Contact a licensed insurance agent at E.S.T.I.R. Inc. in Bloomfield, NJ, and get a free auto insurance quote today. 

Do You Need Full Coverage for an Older Vehicle?

Having Auto Insurance protection offers security for you and the other drivers on the road. If you’re a vehicle owner, you’re required to have liability insurance. To determine which insurance coverage works best for your situation, you can count on the experts at E.S.T.I.R. Inc. We offer Insurance products and services to the residents in and around the Bloomfield, NJ, area. 

Auto Insurance Protection 

If you’re currently interested in learning more about auto insurance and which coverage options work best for your needs, we can help. If you own a vehicle older than ten years of age, you may consider carrying liability only, depending on the make and model of your vehicle and the area you reside.

Our insurance agents can carefully assess your situation and recommend policy options that best suit you. We can also assist you with understanding the terms and conditions of the policy so you can be an informed consumer. We’ll also support submitting documentation to acquire your coverage quickly or any other changes to the policy during its lifetime. If there are claims, we can also provide assistance with them. It’s all a part of our commitment to exceptional customer service to help you have security and peace of mind.

Learn More 

Contact us today if you want to learn more about our auto insurance products. Feel free to call or stop by the office of E.S.T.I.R. Inc., serving the residents in and around the Bloomfield, NJ, area. Don’t guess when it comes to your auto insurance coverage. Let our experts help you make an informed choice.

Contractors Insurance 101: Protecting Your Business and Projects

If you’re a contractor in Bloomfield, NJ, you know the value of protecting your business and projects. One way to protect your business from the unexpected is by investing in contractors insurance from E.S.T.I.R. Inc.

What is Contractors Insurance?

Contractors insurance is a type of insurance that covers the risks associated with a construction project. It’s important to note that not all contractors insurance is created equal, and there are different types of policies that cover different aspects of a construction project. For example, a general liability policy covers the risks associated with bodily injury and property damage, while a worker’s compensation policy covers injuries that occur on the job. We will help you find the right for your business.

Benefits of Contractors Insurance

There are many benefits to investing in contractors insurance, including:

  • Protection for your business assets
  • Protection for your employees
  • Protection for third-party claims
  • Access to legal representation
  • Peace of mind knowing that your business and projects are covered

What Does Contractors Insurance Cover?

As mentioned before, the coverage of contractors insurance varies depending on the policy you select. However, some common coverages include:

  • General liability: Covers third-party injury or property damage claims
  • Worker’s compensation: Covers injuries to employees while on the job
  • Builder’s risk: Covers damage to a property during construction
  • Professional liability: Covers errors or omissions made by the contractor or architects and engineers involved in the project.

As a contractor in Bloomfield, NJ, protecting your business and projects is essential. Contractors insurance is one way to do that, and it offers many benefits including protection for your business assets, your employees, and third-party claims. Contact E.S.T.I.R. Inc. today to get peace of mind knowing that your business and projects are covered.

Common Types of Commercial Liability

Regarding insuring your business, liability insurance might not come to mind, but it tops the most commonly purchased commercial coverage list. The broad term liability insurance includes many types of liability coverage, such as general liability, commercial auto, and professional liability.

At E.S.T.I.R. Inc., we want your Bloomfield, NJ business to have commercial coverage to protect it from financial loss. Let’s consider the most common types of commercial liability and which businesses need them. We can help you build a commercial insurance policy that provides coverage for your business needs.

Commercial Auto Liability

When you drive a vehicle only for business or mostly for business, you need to cover it with commercial auto insurance. This insurance consists of two types of liability insurance – bodily injury insurance coverage and property damage insurance coverage. The auto coverage ensures that if police find you at fault for an accident and the other party files a claim for damages, your insurance pays for damage to their vehicle and medical bills. Any business that owns a vehicle or fleet needs this type of liability policy, including pizza delivery restaurants, bakery deliveries, martinizing operations, businesses that provide a company car for executives or sales personnel, etc.

General Liability Insurance

Outside of auto policies, a business also needs general liability insurance. The general liability policy protects the business from financial loss when an individual incurs an injury or property damage while visiting the business, whether an office, home office, or storefront. Common claims against this type of coverage include trip and fall and slip and fall accidents. Any business with customers visiting its location needs this coverage, including grocery stores, clothing shops, doctors’ and lawyers’ offices, etc.

Commercial Property Insurance

Commercial property insurance protects your business in many ways. If another person damages your business, it pays for repairs. If a storm damages it, it pays for repairs. If you rent office space and damage it, it pays for repairs, keeping you out of trouble with your landlord. It covers more than liability but includes it.

Professional Liability Insurance

Doctors and lawyers carry professional liability insurance that protects them from financial loss when they make an error in a service or product. It protects against errors your business has made in the products/services it sells. Corporations that manufacture medical devices, makeup, skincare, hair care, auto parts, etc., carry this type of liability coverage.

Contact E.S.T.I.R. Inc. Today

Protect your Bloomfield, NJ company from financial loss through liability insurance. Call or email E.S.T.I.R. Inc. today to get your policy started.

How Home Insurance Protects You

As a homeowner, you need certain protections against the many risks that could come your way. Several situations and events could cause your home to become damaged. These risks need to be mitigated by having home insurance. These policies offer many different coverage types that are all included in one policy. Your mortgage lender will require you to have home insurance, and HOAs generally do as well. Call us at E.S.T.I.R. Inc. in Bloomfield, NJ when you need home insurance.

Coverage for Your Home 

One way that this policy protects you is by getting dwelling protection. The house is covered against events that can happen to your home and cause damage or even destroy it. When you have home insurance, this can pay for the expensive repairs that you may need after such an event. It’s essential to have this coverage because of the high cost of home repairs. If the home is destroyed, the policy can pay for rebuilding the entire home. Imagine trying to do that without home insurance to pay for it all. 

Possession Protection

For even more protection, your possessions are also covered by your home insurance. When an event causes damage to your possessions, the policy can pay for their replacement or repairs. When put together, the items in your house add up to an enormous amount of value. It’s best to have that value insured by a home policy. 

Liability Coverage

It’s also essential to have your liability covered. In case of injuries on your property, your home insurance has this covered. It can pay for the person’s medical bills. 

Get Home Insurance in New Jersey

If you own a home, you need to have a home policy. Call us at E.S.T.I.R. Inc. in Bloomfield, NJ. 

What Questions Should You Ask an Insurance Agent When Shopping for Auto Insurance

Insurance shopping always comes with questions. When you are shopping for auto insurance and talking with different insurance companies, make sure to ask them questions. Do you wonder what questions you should ask? Here is a list of some of them that can be great conversation starters with an insurance agent: 

Make Sure to Ask an Insurance Agent The Following Questions:

  • What is the minimum coverage I need to have? Most states, including the state of New Jersey, require liability insurance. It covers the costs of anyone injured or killed due to a road accident you have caused. It also covers the damage to their car, as well as legal fees and property damage. 
  • Why is my deductible? When an insurance company is offering you an insurance policy, make sure to ask about the deductible. It is a crucial question because the deductible determines how much you will pay for your insurance every month. 
  • Are there any discounts available? The tricky thing is that many insurance companies will not mention any discounts unless you ask them. You may be eligible for numerous discount options, so do not hesitate to injure about them. 

E.S.T.I.R. Inc. – Local Insurance Agency in New Jersey That Takes Care Of Their Clients

Are you searching for car insurance? Does your search seem to be too challenging and frustrating? Do you have any questions about auto insurance you want to ask? Please get in touch with E.S.T.I.R. Inc., a local insurance agency with almost 25 years of professional experience. We specialize in different insurance types and work with clients from Bloomfield, NJ, and other nearby towns. Contact us if you are looking for insurance in Bloomfield, NJ, or any other surrounding area.

Policies Included in Contractor’s Insurance

When you open a construction firm in Bloomfield, NJ, you’ll need a special type of commercial insurance called contractor’s insurance from E.S.T.I.R. Inc. The term contractor’s insurance refers to a set of insurance coverage types in a policy package, and it protects your business’s liability and employees.

What’s in Contractor’s Insurance?

This insurance package for construction contractors addresses four business needs. Typically, a contractors’ insurance package includes:

  • Workers Compensation
  • Builder’s Risk
  • Inland Marine
  • General Liability Insurance.

Most contractors require all four types of insurance. Let’s consider what each does.

Workers’ Compensation (Workers’ Comp)

As long as you employ other individuals, you must legally carry workers’ compensation coverage which protects your employees if they get hurt on the job or become ill due to exposure to chemicals on the job.

Builder’s Risk

Builder’s risk insurance provides liability coverage for you and your employees, plus the residents of a home in which you work. If an accident occurs while you work on your project relating to it, such as someone tripping and falling over lumber you piled outside the back door, then this insurance covers their medical costs for treatment.

Inland Marine

Inland marine insurance covers your transport of materials, especially those purchased by your client. It doesn’t involve Marines. The name stems from the advent of land transportation, such as trucking, as a supplement to oceanic transportation, hence the marine.

General Liability Insurance

Like all other businesses, a contractor needs to obtain general liability insurance. This type of liability protects your finances from various issues, including libeling someone and accidents in your office.

Contact E.S.T.I.R. Today

Contact us today to obtain your builder’s risk insurance policy. Let E.S.T.I.R. Inc. help you protect your Bloomfield, NJ, business.

What kind of commercial insurance does my business need?

When someone asks if your Bloomfield, NJ business has a commercial insurance policy, you might think there’s only one policy type. More than 25 types of commercial insurance exist, and this blog explains the specialized insurance policies needed by the different types of businesses, such as dentists, medical doctors, lawyers, dance studios, etc.

E.S.T.I.R. Inc. offers all types of commercial insurance, including business owners’ policies, called BOPs in the industry. Commercial insurance involves many coverage aspects, each with its own policy.

Business Vehicles

If you primarily drive your auto for business purposes, you need to cover it with commercial automotive coverage. This protects your liability for causing an accident and your vehicle if you choose full coverage. Obtain a fleet policy if your business owns or leases more than one vehicle.

Truckers, we also offer the commercial coverage you need, including trucking liability and bobtail insurance. Let us help you properly insure your truck’s cab, trailer, loads, and personal use.

Malpractice and E&O

Individuals in the medical profession need medical malpractice insurance to protect their liability. This type of coverage ensures that they’re insured if something goes wrong during surgery or they misdiagnose a disease. Errors and omissions (E&O) insurance covers their liability if a medical device they created does harm. Examples of this include dental braces, prosthetic limbs, and implants.

Glass Insurance

Stores with storefronts of plate glass require glass coverage. A dance studio would also need this type of coverage to insure its mirrors that line the rehearsal floor. Gyms and retail stores typically purchase this insurance, too. Both locations contain significant amounts of glass as windows and mirrors.

Lawyers Need Liability Coverage

Lawyers must also purchase special business liability coverage called malpractice, but theirs focuses on legal malpractice. Both lawyers and medical practitioners typically hire staff, so they also need workers’ compensation coverage.

Contact E.S.T.I.R. Inc. Today

With more than 25 types of commercial insurance to cover your Bloomfield, NJ business, only a consultation with E.S.T.I.R. Inc. via Zoom or in person can uncover the types of insurance you need.