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.

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!