Four Reasons Why Health Insurance is Important

What is Health Insurance?

The cost of in-office doctor visits, telehealth appointments, and preventative health care services can be reduced or eliminated with a health insurance policy from Five Star Insurance Agency in Fords, NJ.

Health insurance covers the cost of emergency and preventative care services for medical and surgical expenses.

Most states require individuals and families to have adequate health insurance to help them cover the cost of emergency health expenses and everyday health expenses.

Four Reasons Why Health Insurance is Important

Nothing is worse than having an unexpected health emergency that results in an exorbitant healthcare bill.

1. Health insurance can help cover the cost of unexpected medical expenses, which can be expensive.

Visiting your primary care physician for regular wellness checks can help improve your overall health and well-being. The best health insurance policies provide ample coverage for wellness checks and preventative health care services.

2. The costs of today’s health procedures, including hospital admission for routine and emergency room procedures, can increase quickly.

Some people have received medical bills for costs and inpatient services like checking for vital signs and taking x-rays that put a devastating strain on their finances.

3. Having health insurance may help you avoid financial ruin in the event of a serious illness or accident.

The introduction of the Affordable Care Act of 2010 changed the laws governing individual and group health insurance rules.

4. America’s ACA requires that most people have adequate health insurance to cover their medical expenses for emergency and preventative care.

New Jersey Health Insurance Quote

When you need a health insurance quote for yourself or your loved ones, the Five Star Insurance Agency insurance experts in Fords, NJ can help! 

What to Know About the Life Insurance Waiting Period

When purchasing life insurance, it is crucial to understand the waiting period in Fords, NJ. This period is an industry-standard that applies to most policies and is designed to protect the policyholder and the insurer. In this post, Five Star Insurance Agency explores what this waiting period is all about and how it may affect you. 

What is a Waiting Period? 

A life insurance waiting period is a specified amount of time that must pass before a policyholder can receive their death benefit. The waiting period usually begins when the policyholder pays their first premium and ends after the last required payment has been made. It typically lasts from 30 days to two years, depending on the type of policy purchased, such as term or whole life insurance. During this period, if your beneficiary were to pass away, they would not be eligible for any benefits related to the life insurance policy. 

Are There Any Exceptions? 

Yes, there are some exceptions where you may be able to receive your benefit early or not have a waiting period at all. These include accidental death policies, accelerated death benefits for terminal illnesses, and simplified issue policies with no medical exam required (which usually have shorter waiting periods).

Additionally, suppose you are purchasing a rider that provides coverage for certain events during your waiting period, such as accidental dismemberment. In that case, those benefits may be available immediately or shortly after purchase.          

If you have questions about the process or need help finding the right life insurance policy, Five Star Insurance Agency is here for Fords, NJ! Reach out today for more information on how we can help get you covered quickly and easily!

Four Most-forgotten basics about home insurance

When you have a business, you should purchase a commercial insurance policy that protects all the facets of your business. Unfortunately, most business owners forget or overlook the basics of commercial insurance. They end up buying a policy that covers them sub-optimally when disaster strikes. The Five Star Insurance Agency in Fords, NJ recounts common basics you should consider when purchasing commercial insurance. This way, you will have a policy that won’t let you down when the unexpected strikes.

Updating your commercial insurance

You should have a second look at your policy at least once a year. This ensures all your current needs are well-covered. However, sometimes you don’t have to wait a year to lapse. If you add assets, increase your workforce, or change your service offering, talk to your insurance agent to update your policy.

Understanding what your policy covers

You can only make the most of your commercial insurance policy if you understand what it covers. Read your policy document to understand the areas covered by your coverage. Also, consult with your insurance agent where you need clarification.

Having an asset list

Relying on your memory when filing a claim after a disaster can fail you. Instead, always keep an updated asset register to simplify your claim process. When a major disaster like hail or fire strikes, an asset list will compensate you for all your losses.

Understanding commercial insurance exclusions

It’s essential to understand what’s not covered by your commercial insurance. This knowledge helps you identify add-ons you can consider to boost your coverage.

Invest in business insurance today!

If you love your business, purchasing commercial insurance shouldn’t be an option. Commercial insurance saves the day when catastrophe knocks on your door. If you want to buy business insurance in Fords, NJ, please get in touch with Five Star Insurance Agency for an affordable quote.

Things You Need To Know About Income Tax Preparation

The process of filing taxes is quite complicated and stressful, even though it happens only once a year. For this reason, most Americans pay professionals to complete and submit their tax returns, which allows them to save time and avoid critical mistakes. Here are some things you need to know about the process of income tax preparation. 

Income Tax Preparation: What Should You Know?

  • You should gather all your necessary documents. These documents include a W-2 form if you have a job, 1099 reporting the income you have received, a form 1098 reporting any mortgage interest that you have paid, and Form W-2G if you have gambling winnings. 
  • You can file for an extension if needed. If you need more time to file your taxes, you can receive an extension. In order to do it, you need to complete and submit form 4868. You can send this form via post or electronically. 
  • You can get help from a financial advisor. If you need professional help or you want to make sure that you doing everything correctly, you can get help from a financial advisor. 

Five Star Insurance Agency in Fords, NJ – Professional Income Preparation Taxes

If you are searching for a professional company specializing in tax returns, in New Jersey, Five Star Insurance Agency is who you need to contact. We will help you complete all the necessary forms, and make your tax preparation period as easier and less stressful as possible. In addition, we also offer insurance services, including auto insurance, home insurance, life insurance, and others. If you have any questions, feel free to give us a call. 

What Does Umbrella Insurance Cover?

Umbrella insurance is an extra layer of insurance coverage that offers more protection than your existing coverages from other insurance policies. The agents at the Five Star Insurance Agency in Fords, NJ are providing information about what umbrella insurance is and what it covers.

What Does Umbrella Insurance Cover?

Umbrella insurance can cover property damage, certain types of lawsuits, injuries, and personal liability scenarios. An umbrella policy will help protect your assets in two different ways. First, umbrella insurance will provide more coverage than your regular auto, homeowners, and auto and boat insurance policies. It will also provide coverage for claims that may not be covered under liability policies you already have in place, such as libel, slander, false arrest, and even liability coverage for rentals you may own.

This means that umbrella insurance will provide coverage for you beyond the limitations of your other existing insurance policies and, in some cases, may cover things that your regular insurance policies do not cover.

Umbrella insurance can provide liability coverage for damage to property, injuries, certain lawsuits, and personal liability situations. Whether you’re a homeowner, business owner, or own a boat or a car and want to ensure that you have an extra layer of protection, umbrella insurance is a great option.

Examples of Umbrella Policy Coverage

Bodily injury liability insurance will cover injuries that another person suffers because of some accident, such as medical bills or liability claims. These types of accidents include a severe car crash in which you are at fault, injuries that are caused to someone by a dog you own, if a visitor to your home falls and is injured, or even if a neighbor’s child falls and is injured while simply playing in your yard.

For a rental property owner, examples include someone tripping and falling at a rental property you own and suing for damages or if your tenant’s dog bites someone. You are being placed in the position of holding the responsibility for those injuries.

Contact Us

To create the best umbrella insurance policy for you and your situation, call upon the trusted and experienced agents at the Five Star Insurance Agency in Fords, NJ today!

Why Every Renter Needs Renters’ Insurance

When a renter signs a lease on a new place, they must also get renters’ insurance. Most landlords today require this insurance. But even when there is no requirement, it’s always wise to have this insurance. It protects renters against many possible risks that could place them in a high level of financial harm. This insurance can also allow renters to keep their standard of living. Call us at Five Star Insurance Agency to get started when you need renters’ insurance in Fords, NJ. 

Item Protection

Having renters’ insurance means having strong protection for all of the items that you own. When there is a significant incident that ruins your belongings, your renters’ insurance can pay for those items so that you can get them replaced. This coverage is highly valuable, but renters’ insurance prices are generally relatively low. With this coverage in place, you can have peace of mind in case of a serious incident that could leave you in financial trouble when you have to replace everything yourself. 

Liability Protection

Another type of coverage you get from these policies is protection against liability. Imagine that someone came into your home and slipped and fell or had an accident. When this happens, that person can be injured in the accident. When that happens, you, as the renter, will likely be liable for all the resulting costs, including the medical bills. You may be sued for medical bills and other expenses if you don’t have insurance. But when you have renters’ insurance, the policy pays for those bills for you. 

Get Renters’ Insurance

If you are renting, you always need to have a renters’ policy in place. When you need this type of insurance in Fords, NJ, you can call us at Five Star Insurance Agency.


How Much Umbrella Insurance Do I Need?

When you are looking for insurance, it’s essential to make sure that you are getting the coverage that you need. One type of insurance many people don’t consider is umbrella insurance.

Umbrella insurance provides additional coverage if something happens to your primary policy. So, how much umbrella insurance do you need? This blog post will discuss the factors you should consider when deciding how much coverage you need.

1. The Value of Your Assets

One of the first things you should consider when determining how much umbrella insurance you need is the value of your assets. If you have a lot of assets, you’ll need more coverage if something happens. Your Five Star Insurance Agency agent in Fords, NJ can help you determine the value of your assets and what kind of coverage you need to protect them.

2. The Amount of Coverage in Your Primary Policy

Another factor to consider when deciding how much umbrella insurance you need is your primary policy coverage. If you have a lot of coverage in your primary policy, you may not need as much umbrella insurance. However, if you have less coverage in your primary policy, you may need more umbrella insurance to ensure that you are fully protected.

3. The Risk Factors in Your Life

Finally, it would help if you also considered the risk factors in your life when deciding how much umbrella insurance you need. If you have a lot of risk factors, such as owning a home or having a high-risk job, you will need more coverage. Your Five Star Insurance Agency agent can help you assess your risk factors and determine how much coverage you need.

Factors to Consider When Getting Umbrella Insurance

Now that you know the different factors to consider when deciding how much umbrella insurance you need, it’s time to talk to your Five Star Insurance Agency agent in Fords, NJ. They can help you assess your needs and find the right policy. Contact the agency today to get started!

How Long Does It Take for a Flood Policy to Go Into Effect?

Most flood insurance policies go into effect immediately upon purchase, but there may be exceptions depending on when the policy was purchased. 

If you purchased your flood insurance within the last six months, and it is still under the standard policy term of 36 months, then you will need to contact your insurance provider to see if it has started to lapse. Contact Five Star Insurance Agency for inquiries in Fords, NJ. 

What More to Know 

If you are looking to purchase a new flood policy, it should go into effect immediately, but if you are looking to switch from one provider to another, it will likely take a couple of weeks. 

Flood insurance goes into effect immediately after the event has taken place, but the process of claiming a flood can take anywhere from a few weeks to a few months. 

You will want to keep an eye out for any unusual weather patterns, like high winds or torrential downpours that are out of the ordinary for your area. Additionally, you can look for any signs of flood damage, like mud on the ground or damaged homes. 

Only about 15 to 20 U.S. hurricanes are strong enough to cause flooding yearly. Most insurers will require a fire inspection to start a flood policy. This may take up to 30 days. 

The biggest risk with flood insurance is when you don’t buy it in time. Most policies will only start 30 days after an inspection. That means that if a flood does occur before then, as most do — you won’t have flood coverage. 

Bottom Line 

Most insurance companies will wait at least 30 days from the time a policy is issued before it starts to cover you for any losses. This gives you time to review the policy and talk with anyone who may be affected by the coverage. 

If you live in a community that isn’t considered a flood zone, you can still purchase flood insurance. The best thing to do is talk to an experienced broker in writing flood policies. For expert help in Fords, NJ, call Five Star Insurance Agency.

What coverage can you add to your condo insurance?

At Five Star Insurance Agency, we want you to know all of your options to protect your Fords, NJ home from loss. Perhaps you purchased a condo, and your mortgage requires you to purchase a condo homeowners policy for it.

Amongst the eight types of home insurance policy exist one just for condos. When you purchase a condo policy, it provides liability protection for you for accidents that occur inside your condo. It also provides you with protection for your property kept inside the home.

Adding to Your Condo Policy

But like other types of insurance, you can upgrade your insurance policy to cover more than the standard condo policy does. These types of added coverage include:

  • Jewelry protection,
  • Added liability coverage,
  • Enhanced personal property protections,
  • Hobby equipment coverage,
  • Art coverage.

Your condo policy starts out with coverage for your personal property that equals about 10 to 20 percent of your condo’s value. That means if you purchased a condo for $100,000, you’d have about $10,000 in personal property coverage. If you get engaged, that might not cover the engagement ring, so if a theft occurred, your policy would not cover both the ring and your belongings.

The same proves true for your photography equipment or hiking gear or fishing tackle, etc. You might own thousands of dollars in hobbyist equipment, but it doesn’t receive coverage until you increase the personal property coverage or add coverage to the condo policy.

If you run a business from home and hold meetings there, increasing your liability coverage protects you. The same is true if you hold fundraising events there.

Contact  Five Star Insurance Agency serving Fords, NJ for more information on enhancing your condo policy. Let us help you protect your property and home.

Why does someone in New Jersey need health insurance?

There are not many things as vital as good health in today’s world. A healthy nation is a prosperous nation. In New Jersey, health costs are skyrocketing fast. A simple appointment with a medical practitioner can dent your wallet, probably by hundreds of dollars. This hospital visit might even translate into thousands of dollars if you get admitted for a few days.

Despite the criticality of health insurance, it is worrying that not every American is covered. This should not be the case, especially for a topic that has been in discussion for the longest time. Are you in a predicament pondering the best type of health insurance? Keep reading to ascertain the benefits you accrue after investing in a health insurance scheme. The Five Star Insurance Agency serving Fords, NJ, and the surrounding community believes that all New Jersey residents should have health insurance for the reasons stated below.

Benefits of health insurance coverage

Health insurance comes in handy, especially if you have a chronic disease which is expensive to treat. Even though health insurance premiums don’t come free, the benefits outweigh the costs. Below is an outline of some of the benefits.

  • Seek preventive medical services to continue being in good health
  • Prevent an existing condition from worsening
  • Seek prompt treatment if one of your family members is diagnosed with a critical condition
  • Subsidize your health costs to reasonable amounts
  • Safeguard your savings by managing your medical expenses without indulging in your savings
  • Enjoy cashless claim benefits salvaging you from making out-of-pocket settlements.

Unluckily, uninsured Americans cannot enjoy the benefits above. Even though people have different goals, we agree that good health cuts across. Everyone deserves good health. And when one gets unwell, health insurance should ease the burden. To this end, the criticality of health insurance cannot be over-emphasized.

Purchase health insurance today!

Acquiring the right health insurance can be overwhelming at times. The good news is that The Five Star Insurance Agency in Fords, NJ, will offer advice on the insurance options. Don’t hesitate to get in touch with us today.