Life insurance is a way to protect your family in the event of your death. Without your income, how can your family survive? There are all sorts of different life insurance options, allowing you to choose the one that works best for your situation in Fords, NJ.

You’ll quickly find that there are a few main types of life insurance. At Five Star Insurance Agency, we recommend reviewing all of your options first.

Term life insurance is the most common and the most affordable. However, it is valid for a specific term, such as 20 years. When those 20 years are up, you no longer have coverage. It can be a great way to get you to where you and your family are financially stable. You may also have the opportunity to renew the policy for more money at the end of the term.

Whole life insurance is another option. This policy would last your entire life, ensuring that it will always provide a death benefit to your family. While whole life can be more expensive, it can also provide you with a cash-out option that will help you with your retirement years later on.

Finally, there is universal life insurance. Similar to whole life, it is valid for your entire life. What sets this insurance policy apart is that you can pay as a lump sum or have fixed premiums. Additionally, it will establish a cash value that can vary because of being tied to industry rates. It offers you an interest rate based on market value, giving you a little bit of flexibility.

Start learning more about life insurance by contacting Five Star Insurance Agency today. One of our independent insurance agents can answer your questions and help to find the policy that works for you and your budget in Fords, NJ.

 

You may have bought your Fords, NJ condo because the idea of low-maintenance living appealed you. It‘s not likely having to take care of water damage caused by your water heater played into that fantasy. But, it can and does happen often, and if it happens in your condo it can turn into a big, expensive headache if you’re not prepared. Condo insurance will keep you protected against most water perils. 

Water Damage That’s Typically Covered 

If you have a condo insurance policy in place for your Fords, NJ home, you’re generally protected against water damage that your appliances, water heater, heating or air conditioning system, or plumbing cause. The water damage must be from accidental causes rather than wear and tear. For example, if your older water heater cracks and spills water all over your flooring, while your insurance will generally cover the damage to your floors, your condo insurance isn’t likely to cover the cost of buying a new water heater. Check with your Five Star Insurance Agency representative to find out about any specific limits or exclusions in your policy. 

Water Damage That’s Not Typically Covered 

Some types of water damage aren’t normally covered by a standard condo insurance policy, such as sewer or drainage back-ups. To safeguard yourself from those risks to your condo you may need to purchase additional “water back-up" coverage. Flooding is another water event that is typically not included in a basic condo insurance policy. If flooding is a concern you will need a separate flood insurance policy for protection against flood waters. 

For more information about how condo insurance can help protect your investment from water damage loss, or for answers to any questions about condo coverage limitations or exclusions, give the insurance experts at Five Star Insurance Agency a call today.

Touring musicians from Fords, NJ spend much of their lives on the road and typically invest a lot of money in their group. Thankfully, we at Five Star Insurance Agency can provide high-quality insurance options for people who run this type of business as a primary source of income.

Who is Covered By This Insurance?

Musicians come in many different varieties and are covered by touring performance artist insurance options. These policies cover a very wide array of performers, including individuals such as poets, contortionists, puppeteers, impressionists, comedians, and even ventriloquists.

Thankfully, just about every type of musician can also purchase this type of insurance. Rock and roll bands, choral groups, DJ performers, conductors, orchestral groups, barbershop quartets, bluegrass bands, and much more are all covered by this type of high-quality insurance.

What Genres are Covered?

Since touring musicians often cover many genres, these policies will cover the following types of groups:

• Rock
• Jazz
• Big band
• Bluegrass
• Classical
• Pop
• Gospel
• Swing
• Ethnic
• Folk
• Blues
• Oldies
• R&B

What Coverage Types are Available?

Coverage to these musical groups includes payments for bodily injuries, sexual abuse, damage to premises, legal liability, physical injuries, property damage, and more. As a result, touring musicians can protect their investment and avoid a serious financial loss while out on the road.

However, there are many exceptions that are not covered by this type of policy. For example, injuries suffered while crowd surfing or performing in a mosh pit are not covered by touring musician insurance because the performer assumes a certain risk when performing these actions.

Protect Your Band’s Finances

Please contact us at Five Star Insurance Agency if you are in a Fords, NJ bands that need great insurance. We will work hard to find a policy that meets your needs and get you covered for all possible losses.

Fords, NJ residents who are looking to get the most out of their insurance policies will often ask questions about condo insurance and homeowner’s insurance. Surely, if the client has already purchased homeowner’s insurance, they are also keeping their condo safe in the process? 

Wrong. While a homeowner’s insurance policy does provide dwelling and structural coverage, it is not a reasonable replacement for a proper condo insurance policy. A condo insurance policy requires the policy holder to have purchased enough coverage to potentially repair the unit’s entire interior if needed.

Meanwhile, any repairs that will need to take place when it comes to the building’s exterior are going to be covered by homeowner’s insurance. The cost of rebuilding tends to be much higher for a home than it would be for a condo but that does not mean that the condo owner should rely on this form of insurance exclusively.

Personal liability coverage is yet another aspect of condo insurance that cannot be ignored. A condo owner that does not purchase a specific insurance policy is leaving themselves open to a wide range of lawsuits. Without personal liability coverage, the client could be left paying out of pocket if someone is injured on their property. 

There are no shortage of risks to be aware of. A homeowner’s insurance policy and a condo insurance should be purchased, so that the condo owner can receive the peace of mind that comes with knowing that they will always remain safe. Preparing for any and all domestic perils that could take place is of the utmost importance. 

Looking to find out more about the differences between condo insurance and homeowner’s insurance? Be sure to contact Five Star Insurance Agency as soon as possible. We are here to serve Fords, NJ and the surrounding areas. 

When Fords, NJ residents who seek health insurance take the time to meet with various agents from Five Star Insurance Agency, one of the most common questions that are asked focuses on the minimum coverage offered by health insurance plans. Do all of these plans offer the same minimum coverage?

The Effects of the New Jersey Health Insurance Market Preservation Act

Now that the state has made this mandate, those who seek health insurance in Fords, NJ are given the chance to receive minimum essential coverage. Residents of this state must obtain acceptable health insurance or risk being penalized as a result. While every health insurance is not going to offer the same minimum coverage, there are a wide range of minimum essential coverage plans available. 

Four different plans are available to those who seek assistance from Five Star Insurance Agency. Let’s take a closer look:

• Grandfathered Health Plans
• Government Sponsored Programs 
• Employer Sponsored Plans 
• Health Plans Purchased In The Individual Market 

Starting in 2019, the aforementioned New Jersey laws go into effect and those who have not obtained minimum essential coverage will be penalized. While all health insurance plans are not going to offer clients the same level of minimum coverage, there are a number of available plans in the individual market that allow New Jersey residents to tailor their chosen to their specific needs. 

It is also important to note that New Jersey is the second state to have passed their own individual health insurance mandate. While the ACA is eliminating their individual health care mandate starting next year, New Jersey residents will have to make sure that they remain in lockstep with the new laws.

If you would like to learn more about minimum coverage health insurance plans, be sure to contact Five Star Insurance Agency as soon as possible. 

Filing an insurance claim can be hectic and confusing, to say the least. There are some steps that are pretty common across the board however that will help you to file your claim in a timely manner. These steps apply to most insurance policies, but especially to commercial claims. For those that live in or around the Fords, NJ area, the agents with Five Start Insurance Agency can help you to file your claim in a quick and efficient manner.

The first step to any claim is to take the time to gather your evidence. If you are dealing with a commercial claim like theft you want to make sure you have any surveillance videos, that you have an in-depth inventory and sales record, and that you have all your paperwork ready so that when the adjuster comes they are able to quickly and easily access the basics of your claim. You also want to make sure that if you have any witnesses, you are able to call on them for their testimony.

The next step is to contact your insurance agency to start the claims process. They will want you to fill out a form to state what happened and what type of claim you are filing and what you are seeking. You will then need to speak with a representative and then meet with an adjuster that is going to be able to continue the claims process. It is important that you go along with the adjuster and work to help make the process easier by supplying all the information you have.

If you need to file a commercial claim and you live in the Fords, NJ area, the agents with Five Star Insurance Agency can help you to file your claim.  

Are you interested in life insurance as a form of financial security for your business?

If you haven’t explored this avenue yet, it’s worth understanding how you can profit from it both personally and professionally. Life insurance purchased in Fords, NJ can be a powerful tool for you as an entrepreneur, but only if you choose a policy that makes financial sense.

Term VS Whole Life Insurance

Both term and whole life insurance can be valuable to a small business owner. Term insurance tends to cost less in terms of the monthly premium, and it can be your lifeline in case of an emergency. If you pass away, your loved ones can be taken care of immediately with a lump payout.

Whole life insurance is more costly per month. However, your value grows steadily with the age of your policy.

Also, you can borrow against whole life insurance in order to invest in your business. It can be used as a vehicle for investment or as a source of cash flow in case of an emergency.

As a compromise, you can opt for convertible insurance. This means your policy would start as a term life policy, and then you would have the option to turn it into whole life coverage. Check with the Five Star Insurance Agency to learn about the specifics of the convertible policies provided.

Base Your Coverage On Your Business Valuation

Life insurance is a useful option for entrepreneurs, but it can quickly become a burden if you choose a policy that doesn’t match your financial situation. Base your coverage on the value of your business as well as your personal equity in the business. Calculate how much debt you have, versus the steadiness and value of your current income. Think about your future needs, and what kind of payout you would need for the business to go on in case of your death. Given all of the above, find a policy that gives you sufficient coverage without sending you further into debt.

Are you ready to secure your business and loved ones with a life policy in Fords, NJ? Contact an agent at the Five Star Insurance Agency to go over your needs. together, we can find a policy that fits your needs like a tailored suit.

Preparing your own taxes is often a wise choice if you know what you are doing. However, we at Five Star Insurance Agency have seen too many Fords, NJ area residents make mistakes that cost them serious cash. Will tax insurance cover your needs or is it just for professionals?

Tax Insurance is a Broad Type

Tax preparation experts typically have to purchase some type of liability insurance to protect themselves in case they make a mistake. That’s because it is very easy for a single error to cost hundreds, or even thousands, of dollars for their customers.

With tax insurance, they are safe from paying liability charges in a lawsuit because their insurance will pay most of it for them. That said, even individuals who prepare their own taxes but who don’t own a preparation business can buy insurance to help pay for their own mistakes.

There are Multiple Types of Coverage

If you are a tax preparation expert, you can get single-practitioner coverage for your business. However, if you run a company with multiple preparation experts, you should get multi-practitioner insurance. This covers you in case anybody makes a mistake in your business.

Just as importantly, you can get single coverage for yourself if you are doing your own insurance. This type of insurance policy is offered by multiple providers, meaning you can shop around a bit and find the one that is right for your needs.

Don’t Get Caught Without Coverage

So if you are a tax prepare or somebody who does their own taxes, it is wise to invest in high-quality tax insurance from us at Five Star Insurance Agency. We can help you and other people in the Ford,s NJ area get the tax insurance you need to prevent serious errors and costly mistakes that can cost you big bucks.

If you rent in Woodbridge, NJ, hopefully, you are considering acquiring a renters insurance policy to protect yourself against losses. While many people consider it an unnecessary expense, it is surprisingly affordable and offers protection that could make a large difference in your life. A landlord’s policy will not protect your personal property.

What Renters Insurance Does

If your rental property is burglarized or if there is a fire, you could lose your possessions, including appliances, clothing, entertainment systems, and other important items. Your landlord’s property insurance will not cover your personal losses. That means that you could be forced to start over and pay for everything out of your own pocket. It may take years for you to replace the items you lose. Renters insurance can also cover a temporary residence to stay when your home is damaged, and help you replace items stolen from your vehicle. 

How Much Does Renters Insurance Cost?

When you get a quote from Five Star Insurance Agency for renters insurance, you will be pleasantly surprised or even shocked when you find out how inexpensive it is. Unlike a homeowners policy, you will not need to cover the building and property. Some renters insurance policies start out very low but it is dependent on how much is covered and your situation. 

Be careful, though. You can get a comprehensive renters insurance policy that gives you the kind of protection you need for your own situation, with the deductible you deserve. A few dollars could make a big difference, because renters insurance costs so comparatively little. 

If you are in Woodbridge, NJ, talk to the agents at Five Star Insurance Agency today. We will inform you of all of your options and answer all your questions. Contact our agents to receive a quote and get started.