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.

5 moments when you should buy or update life insurance in Fords, NJ

Don’t ignore your life insurance policy.

Unfortunately, many don’t realize how important life insurance is until it’s too late. But even existing policyholders fail to keep their policies up to date. As life changes, so should your life insurance.

Five Star Insurance Agency recommends frequent review and revisions. Located in Fords, NJ, the agency shares five life events that demand immediate consultation to re-evaluate your life insurance needs.

Getting married

Wedding bells signal a major moment. But it’s also a huge financial commitment. If a spouse passes away unexpectedly, any bills and debt are still left behind. Life insurance helps a surviving partner, providing relief from this burden.

Owning a home

Purchasing a new house is an equally big endeavor. With life insurance, your family can supplement any mortgage payments if you pass. This ensures your home can remain with them.

Having a child

A newborn already leads to sleepless nights. Don’t let financial worries keep you up too. Life insurance shields your child’s future so they are cared for in the event you may pass.

Starting a business

Life insurance protects your work and may help your family assume control of a company after you’re gone. But, life insurance shields investors and other stakeholders too. Among other things, it grants peace of mind if you were to pass.


Life insurance is designed to replace the earned wages of a deceased partner. In retirement, this becomes less of a concern. With Social Security, pension, and other benefits, a decrease in life insurance may be warranted.

Five Star Insurance Agency can help

A "set it and forget it" approach to life insurance simply won’t suffice. Serving Fords, NJ, Five Star Insurance Agency can create a policy that best meets the needs of you and your family. Schedule an appointment today.

How Much Commercial Insurance Do I Need?

Commercial insurance is a worthwhile investment that protects your Fords, NJ business when the unexpected occurs. Commercial insurance comes into play when faced with liability claims, employees injuries, theft or damage to commercial property, and when sued for negligence for the professional advice you give. While commercial insurance is superb, have you ever thought about whether you carry a sufficient amount of coverage? If you are not sure, At Five Star Insurance Agency is here to guide you on the amount of commercial insurance required for your business.

Meet the required minimums first

The first step is to meet the legal requirements. In New Jersey, all businesses must invest in worker’s comp insurance if they have one or more employees. Besides, you must purchase commercial auto insurance with minimum liability coverages if you have business vehicles.

Plus, if you have a business loan, your lender might have business insurance requirements. For instance, if a financial institution has given you a mortgage for your business premises, the minimum property insurance required shouldn’t be less than the outstanding mortgage balance.

How much liability insurance do I need?

Liability insurance isn’t mandatory in New Jersey, but it’s must-have coverage for every business out there. This insurance covers you when accused of damage and injuries by other people. It also covers you when sued. But how much liability coverage do you need?

This question is tricky because you never know the amount of liability claims you will face at a given time. So, after establishing your risk profile, talk to your insurance agent to purchase a sufficient amount. Generally, we advise businesses to consider liability coverage of $1M plus, but the amount can go higher for high-risk businesses.

How much property insurance do I need?

As a rule of thumb, always have coverage sufficient to replace your entire assets in the worst-case scenario.

Learn more about commercial insurance in Fords, NJ

Still not sure whether you are carrying a sufficient amount of commercial insurance? We get it — understanding commercial insurance isn’t an overnight thing. We invite you to contact Five Star Insurance Agency for a no-obligation consultation.

What Does Condo Insurance Cover?

If you move into a condo, you are going to need to purchase condo insurance. It is similar to homeowner’s insurance. In fact, just like all insurances, there are many different plans for different prices, so you should be able to find something that will work for you and your budget. 

That being said, there are some things that are covered with standard condo insurance. These include: 

Personal liability coverage. This will protect you if anyone is injured when they are visiting you at your condo. Not only will it pay for their medical bills, but it will also help you with any legal fees that you may get if you get sued. 

Guest medical coverage. This will pay for any medical bills for someone who is injured at your condo, even if it is not your fault at all. 

Building property protection. This coverage will pay for any damage to the walls of your condo, as well as built-in interior pieces such as bookcases. 

Personal property coverage. This coverage will pay for the belongings that you have in your condo. This includes big things such as your furniture and appliances, as well as any electronics and clothing that you may have. It will also cover these items if someone breaks into your condo. 

Condo insurance is needed to protect you. It will help you in case anyone ever gets hurt on your property, by paying the medical bills, as well as any legal fees that you may be looking at. It will also cover the loss of your things, such as your furniture and clothing. 

If you want to make sure that you get the best plan for the best price, don’t hesitate to contact us at Five Star Insurance Agency in Fords, NJ. 

New Jersey Life Insurance – What You Need To Know About Life Insurance

They say that there are only two universal truths in Life and that’s Death and Taxes.  There should be a third universal truth in Life and that’s “uncertainty” because nobody truly knows what will happen to them day-to-day in their life.  You can wake up in the morning feeling great and not know that in just mere hours, you could have an accident that will require you to convalesce in a hospital for two weeks.  It’s that uncertainty that we all face in our lives that brings up the question of how to protect ourselves and our families.  Five Star Insurance Agency in Fords, NJ offers many insurance options including life insurance.

Life Insurance

Have you pondered the thought of what would happen to your family in the case of your untimely passing?  You’re not alone as many of us have those same thoughts and worries.  Do I have enough money saved for such a situation?  Will my family be okay financially?  Will they be protected with what I leave to them?  These are all questions that we ask ourselves, usually after a traumatic event or a close call.  Those are not the optimum times to have these conversations with yourself as you should be ahead of the game and have a game plan for protecting your family just in case.

Life Insurance typically comes in two different versions, Whole-Life and Term-Life.  Whole-Life insurance covers you as long as you make your monthly premium payments.  Some companies require a physical (especially if you start your plan as an older person) while others don’t have those requirements.  The money built up over the Whole-LIfe term can be borrowed against which is an option not afforded to Term-Life Insurance.  Term-Life insurance covers a period of time (10 to 30 years) and its value is set, meaning that you can’t borrow against it or build up a cash value to the policy.

More Information

You can learn more about life insurance by contacting Five Star Insurance Agency in Fords, NJ today!

Can commercial insurance in New Jersey protect a business?

Owning a company can be a dream for many people and a great path to pursue. However, there are always going to be risks that come with owning any type of organization. Those that are in the Fords, NJ area will always want to ensure that they are properly protecting their business. One of the most effective ways that this can be done is by getting a commercial insurance plan. This type of insurance can protect a business in several ways. 

Cover Company Assets

One of the ways that you can protect your business with commercial coverage is by covering your company assets. Anyone that is going to start a business will need to buy core assets to get the business off the ground and keep it running. Due to the importance of these assets, protecting them should be a top priority. If you get commercial insurance support, you will be able to protect these assets against the risk of damage or theft. 

Offset Risk of Liability

Businesses also need to be cautious when it comes to their liability risk. There is always a chance that a mistake or other issue can lead to injuries, property damage, or damages. If this is the case, you will need to pay restitution to those that incurred the damages. With proper liability coverage, you are able to mitigate this risk. 

Getting commercial insurance continues to be a great way for anyone in the Fords, NJ area to protect their organization. When you want to protect your company, you should call Five Star Insurance Agency to discuss your insurance needs and options. The team with Five Star Insurance Agency can provide a lot of guidance that will be necessary to ensure you choose a plan that is right for your situation. 

Frequently Asked Questions About Tax Insurance in New Jersey.

Tax insurance is created to protect those who carry a higher amount of risk from their tax position. Some people do not even realize that this coverage is available. At Five Star Insurance Agency, we serve the people of Fords, NJ and the surrounding areas with quality tax services and information. If you think tax insurance may be beneficial to you, or if you would like to learn more about it in general check out these commonly asked questions.

Frequently Asked Questions About Tax Insurance

  • What is tax insurance? It is a way to protect against tax risk/loss that can occur in certain circumstances when running a business or situation that requires many transactions or investments. Tax insurance provides protection from the IRS in high-risk circumstances
  • Who may benefit from this coverage? Business owners, investors, large corporations, traders, attorneys, and more may benefit from this specialized coverage. If there is a great risk, then great protection is a wise choice. 
  • Is tax insurance a requirement for high-risk corporations?  No, the government does not have a specific tax insurance requirement. Even if it is not a legal requirement, it may be a good idea to make sure that you are protected if certain changes can put you at risk of changing your tax situation. A lot of money can be at risk with large enough change, and this risk can be a domino effect in some cases. 

Contact us at Five Star Insurance Agency if you are ready to purchase an insurance policy, or if you have any further questions. We serve the community of Fords, NJ and the surrounding areas. 

Why do people need to carry umbrella insurance?

Liability is a risk which all people in the Fords, NJ area need to spend time thinking about. Even if someone is cautious and does their best to do the right thing, there is always a chance an accident can happen that could result in damages. Due to this, having the right insurance in place is important. An umbrella insurance plan is a great way to receive the liability support that you need. There are several reasons to get this coverage

Coverage Against Unexpected Risks

A reason that you should obtain an additional umbrella coverage plan is that it can protect against unexpected risks. Most people here are going to have liability protection already through home and auto plans, but there are other liability risks that are harder to predict and insure against. An umbrella insurance plan will give you the coverage that is needed to offset these concerns. 

Support for Major Liability Claims

Those that have auto and home coverage will have some liability coverage in place. However, there are situations that could result in claims that exceed the insurance coverage. If you have an umbrella plan in place, it will offer the support you need to cover claims that are in excess of your base insurance policies. This protection will typically offer coverage on top of your existing liability insurance policies. 

People that are in the Fords, NJ area should always consider their umbrella insurance needs. If you want to learn more about this type of coverage, you should call Five Star Insurance Agency as soon as you can. If you do call Five Star Insurance Agency, you can learn a lot about your different insurance options and how you can mitigate liability risk. This can ensure you receive the right coverage for your situation.