Umbrella insurance offers additional liability coverage for homeowners insurance, auto insurance, and boat/watercraft insurance. It helps to pay for liability claims that exceed the limits of your standard insurance coverage. If you wish to get extra protection for your assets in Fords, NJ, contact Five Star Insurance Agency for umbrella insurance quotes.

Facts About Umbrella Insurance

Umbrella Insurance Covers All Your Assets

Unlike other insurance policies which only cover one asset such as a home, boat, or car, umbrella insurance covers everything. You can think of it as an umbrella which covers not just one part, but the entire body. The policy applies when you exceed the liability limits of other insurance policies. Instead of paying the balance from your pocket, you can claim your umbrella insurance. It also covers you in case of risks that are excluded from other liability policies such as slander.

You Can’t Buy Umbrella Insurance Without Other Policies

Umbrella insurance is a secondary insurance policy that is meant to provide additional protection. This means that you can only use it along with other policies. You cannot substitute your commercial, home, or auto insurance policies for umbrella insurance. Umbrella insurance is a great option if you have valuable assets that need supplemental protection. You can only claim your umbrella insurance after the other insurance policies reach their limit.

Umbrella Insurance Doesn’t Cover Your Property Damage

The purpose of umbrella insurance is to protect you if you are legally liable for property loss or damage, bodily injuries, professional errors and omissions, and malpractice. It does not pay for damages to your own property. Check with your insurer to establish what they cover as a liability.

Contact Five Star Insurance Agency in Fords, NJ to discuss your new quote for umbrella insurance. Our agents can help answer your questions and get you started.

When you own a home, there are plenty of things that can go wrong. One of the significant issues homeowner’s face is flood damage. This can be a result of a natural disaster, storm damage, pipes bursting, and even human error. One of the most common causes of human error related to flooding is forgetting to turn the bathtub faucet off. This can result in severe flood damage. If it is in the upstairs portion of the home, it can damage the ceiling and the walls below. 

Am I Covered By My Home Insurance?

In the event you experience water damage to your home as a result of an accident or human error, most homeowner’s insurance policies will cover the cost to repair the damage. If mold remediation is necessary, it will usually cover that cost as well. Before you make an insurance purchase, however, know what to expect and whether or not events like bathtub flooding are covered. If you have questions, it is a good idea to ask a professional insurance agent so you can make an informed decision. 

Finding The Right Coverage

Getting the right insurance for your home is the key to preventing financial losses due to incidents that cause loss. Shop for the policy protecting your home adequately. Not all insurance products are the same. Try to get the most for your money by purchasing a policy that offers complete coverage. Residents of Fords, NJ can ask the professional insurance agents at Five Star Insurance Agency for information and recommendations.

Residents living in or around Fords, NJ are encouraged to reach out to the professionals at Five Star Insurance by calling or stopping by the office. Get the insurance products you need to give you and your family a blanket of protection against covered events. 

 

 

Before purchasing condo insurance for your Woodbridge or Fords, NJ unit, it’s a good idea to get together with your agent from Five Star Insurance Agency and a representative from your home owner’s association. It might surprise you to learn exactly what parts of the building, property, and even common areas you might be responsible for so you can prevent any holes in your policy. 

Review Your Unit and Plot Plan with the Home Owners Association

Whether you are buying a policy from a new insurance company or shopping before you close on the purchase of your condo, it’s vital to understand exactly where your property begins and where the common areas begin. If you are buying a townhouse with neighbors on either side, you might need insurance only for the interior of your unit. When buying a duplex or a single-family unit in a gated community, you might have your own lawn and driveway.  

Talk to your agent to make sure all areas are included in your policy.

Is the Garage Community Property or Part of Your Unit?

If your garage is located underneath your condo with access to your unit, it is likely considered part of your unit. If your townhouse has parking located under a covered area that is shared by multiple units, its maintenance and security will be part of the HOA.

Windows, Decks, Roofs, and Sidewalks

Should you not ask the right questions and leave areas off your condo insurance, you could be stuck with a hefty bill when it is damaged in a severe summer storm. 

The key to purchasing condo insurance from Five Star Insurance Agency for your Woodbridge or Fords, NJ townhome is to make sure that not only is your agent part of the discussion but also a representative from your home owner’s association that is able to answer all your crucial questions. Reach out to our agents for more information.

Having adequate health insurance is a necessity for all people to have and today is required by law. When you are looking for health insurance, there are a number of different places where you can get it.  

Employer Plan

For those that are in the Fords, NJ area and are looking for a good health insurance option, one place to start is through an employers plan. Employers of a certain size today are required to offer their employees with a health insurance option. In most cases, employer plans will offer a subsidized option that can help anyone to save money on the cost of their insurance.

Government Exchanges

Over the past few years, the Affordable Care Act has allowed millions of people to access more affordable health care through a variety of state and federal exchanges. These exchanges can provide an individual or family with many different insurance options to choose from. These exchanges are a good option for those that do not have a health insurance option through their employer.

Medicare

For those that are over the age of 65, getting Medicare is a great health insurance option. Medicare will provide someone with a quality health insurance option that will provide great coverage. There are also additional Part B and gap insurance options to provide someone with the additional coverage that they need.  

For those in the Woodbridge or Fords, NJ area that are looking for health insurance, one company to talk to about their needs would be the Five Star Insurance Agency. Our agency will be able to provide someone with more insight into health insurance options and costs. The Five Star Insurance Agency will be able to help you get a great policy that provides you with the right level of medical coverage. 

When people think of retirement and estate planning, the most apparent components include having a will, considering a trust, putting mid-life income in an individual retirement account to depend on later, and savings. Very few, however, think about the double benefit and power of a life insurance plan. Aside from the very basic life insurance form, known as term life insurance, expanded types of life insurance include both the coverage protection for the unexpected as well as a savings component. The savings component not only can be collected with payments to provide for liquidity in later years, but it can also be left to others in an estate plan if desired as well.

Planning for your Future

Planning for an estate in Fords, NJ and elsewhere is a complex process that varies from person to person. No two cases are exactly alike. Unfortunately, what consumers are taught about estate planning is often generic and treats them as if everyone is the same. No surprise then, very few understand how life insurance works and can be fully used both as a risk prevention as well as a savings vehicle.

The folks at Five Star Insurance Agency understand the above problem and work hard every day to help regular consumers fully understand their financial planning options with every aspect of life insurance, not just what the typical media byline describes. That means explaining how each type of life insurance works, answering questions, educating folks, and help out Fords, NJ residents from all walks of life genuinely handle estate planning with every tool available to them. Granted, there are a few other things people might want to be doing versus estate planning, but the experts at Five Star Insurance Agency are there to help and get people from point A to point B with their financial future. Take one more thing off the worry list and plan a life insurance approach right. Give Five Star Insurance Agency a call today.

Good employees are hard to come by in any industry. As a business owner, you can do your part to care for your employees in your Fords, NJ company. Workers’ comp insurance is one way to protect your employees’ interests. At the same time, it protects your business from possible lawsuits due to workplace accidents or from having to pay medical expenses of accidental injuries out of pocket.

Workers’ comp insurance from Five Star Insurance Agency provides numerous advantages to business owners in protecting their employees and assets. Here are some of the main benefits that workers’ comp has to offer.

1. Medical Costs

By taking preventative measures to protect your employees, you can reduce the risk of workplace accidents. If accidents occur, however, workers comp will cover medical expenses of those injured on the job. This can include the cost of an ambulance, emergency room visit, medical treatments, doctor evaluations, prescribed medications, and on-going care, i.e. future surgeries, rehab, etc.

2. Lost Wages

If an employee’s injuries keep him or her from working, workers’ comp will help cover lost wages while they are recovering, so your company doesn’t have to assume this financial responsibility. This gives you the financial resources to hire and train temporary personnel, if needed, to maintain business productivity while your injured employee is recovering.

3. Death Benefits/Funeral Costs

If a serious work accident leads to an employee’s demise, workers’ comp can help cover funeral costs, so you or your employee’s immediate family doesn’t have to bear this burden. Many policies offer death benefits to employees’ dependents, making it easier for them to manage financially after their sudden and unexpected loss.

Workers’ comp insurance is a smart and practical means of protecting your business and employees. To learn more about this insurance coverage and costs, contact Five Star Insurance Agency in Fords, NJ.

Five Star Insurance Agency, serving Woodbridge and Fords, NJ, offers tax preparation services beyond their regular lines of business with insurance.Some may think of this as a wonderful service while others may ask, "Why do I need tax preparation?"

Tax Preparation Services for New Jersey Residents

The inconvenient truth about the tax code, both federally and in New Jersey, is that it is a minefield for the unwary. The governments in Washington and in Trenton have made complying with tax law a very complicated business. With all of the exceptions, credits, deductions, and loopholes that have been tucked into the tax code over the years, it only makes sense to seek the services of a professional who is versed in all of those aspects.

A person who is attempting to do his or her own taxes must consider two things. First, have all of the deductions and other opportunities to save money on taxes been taken advantage of? Governments have laden the tax code with all sorts of ways to save money if one fits certain situations. A professional will be able to figure out which of those cases you fit into and get you the most savings possible under the law. No one likes paying taxes, and that doubly goes for paying too much taxes.

Second, the tax code is permeated with opportunities to violate the law, taking deductions mistakenly that you are not entitled to, not reporting types of income as required, and not having the paperwork to back up one’s return, which is necessary if one is called into an audit. A tax professional will be able to navigate you through those treacherous waters and keep the tax man from your door.

For information on tax preparation or all aspects of insurance, contact Five Star Insurance Agency, serving Woodbridge and Fords, NJ.

Renters in Woodbridge and Fords, NJ commonly think that renters insurance will only protect their belongings. Five Star Insurance Agency wants the residents of New Jersey to know that renters insurance can go far beyond belongings when protecting you.

Liability and Renters Insurance

Renters insurance is a lot like homeowners insurance. You probably have a lot of possessions, and having renters insurance makes sure those things can be replaced if they are damaged or destroyed. Insurance companies estimate the average renter has $20,000 to $30,000 worth of property in the average apartment. It makes sense then to have insurance.

Another thing to consider is liability insurance. Just like a homeowner, if someone is injured on your property you may be held liable. If there is a serious injury, it could end up in the courts, and if you are found responsible, you could be fined legal fees. Having liability coverage helps in that situation.

When you get renters insurance, you will need to agree with the insurance company on the value of the contents of your apartment. You will also need to get a certain amount of liability coverage. There is no legally required minimum, and you can get as much as you like. If you own a rental home, you should also consider the advantages of having protection with insurance. You may get insurance on the building and your tenants through landlord insurance. 

Call or visit the Five Star Insurance Agency in Fords, NJ to find out what your options are concerning renters insurance. Our professional agents can help you get the insurance you need to fit your situation. Renters insurance on contents is usually rather inexpensive, and the liability insurance rates depend on how much liability coverage you want. Reach out to our agents for more information.

The agents of Five Star Insurance Agency serve businesses throughout the Woodbridge and Fords, NJ area. They offer many different types of commercial insurance coverage, including umbrella policies for those that need them. With all of the different types of commercial insurance available, it can be difficult for a business owner to know what they need to protect their company and financial stability.

What is an Umbrella Policy?

An umbrella policy is an insurance policy that includes many different types of coverage. This kind of policy will also pick up coverage where other policies leave off. An excellent example of this is liability coverage. If your company’s liability coverage falls short when covering a client’s injuries, the umbrella policy will cover the overage preventing the extra from coming out of company funds. Basically, an umbrella policy offers comprehensive coverage.

What Type of Company Benefits From Umbrella Coverage?

Umbrella insurance was created to help large companies sufficiently protect themselves from various types of loss. This includes theft, liability, vehicle insurance for companies that own vehicles, life insurance, and, in many cases, worker’s compensation insurance. A small business that only has limited liability, no vehicles, and very few employees may not need umbrella coverage. Separate policies may be better suited for the size of the business and its financial needs.

If you own a business in Woodbridge or Fords, NJ and have questions about commercial insurance, especially umbrella policies, contact the agents at Five Star Insurance Agency today. We can evaluate your company’s insurance needs and make sure you have the right types of coverage to protect your livelihood. Don’t wait! Call our office today!

Water backup is a common endorsement, especially with Five Star Insurance Agency’s coverage policies. A majority of people see it on their policies and ask, "Is this necessary?"

Imagine there’s a torrential downpour during a storm, and your power goes out, including that of your sump pump. Your previously dry basement may convert into a watery disaster. It is smart to always plan for the worst. Fords, NJ’s water system could become overwhelmed and it could back up into your home through the drain! In the event of such misfortunes, a water backup coverage takes care of you.

What does a typical homeowner’s policy cover?

You may be surprised to discover that a standard home policy does not cater for water damage. Accidental rupture of the home’s plumbing pipes or unexpected damage to your roof which allows rain into your home is frequently covered. However, the water damage from most other incidents is not.

What does the water backup insurance policy entail?

With the backup of sewers and drains, your homeowner’s policy is broadened to include coverage for damage as a result of water backing up. Remember, water backup coverage differs from flood insurance. To cover perils due to floods you need to talk with an agent about flood policy.

When selecting your coverage, consider all of the objects in your basement. This includes electronics, furniture, carpeting, and appliances. What would be the expense of replacing everything in the event of water damage? Including clean-up expenses as well.

To start planning for the future, seek advice from Five Star Insurance Agency. Water backup insurance choices may differ by state. If you live in Woodbridge or Fords, NJ, contact our agents to discuss the options suited for you.