Updated on June 15, 2016
WHY DO I NEED HOMEOWNER’S INSURANCE?
A lot of time, effort and money go into creating a comfortable dwelling for you and your family. It’s necessary therefore to insure that if anything happens to your property or possessions you have the means to cover your losses and not risk financial instability in replacing them. You can never be too sure especially if you have a high cost of living. Likewise, you shouldn’t overlook any and all accidents that may happen to other people inside your home. If you are found liable for their injuries, a homeowner’s insurance policy has provisions for legal representation if and when it is needed. Below we will discuss frequently asked questions homeowners insurance NJ.
WHAT EXACTLY DO I GET IF I SIGN UP FOR NEW JERSEY HOMEOWNERS INSURANCE PROGRAM?
It is easy to obtain homeowners insurance in New Jersey. Try a quick online search. To get you started, check out https://newjersey-insurance.net. Now, lets review the main key points of frequently asked questions homeowners insurance NJ. A basic New Jersey homeowners’ insurance policy provides you coverage for the following:
DWELLING: pays for damage and/or loss caused to your house covered by insurance
OTHER STRUCTURES: insures that damaged property outside your home but within your premises like garages, sheds or fences are covered by loss
PERSONAL PROPERTY: covers loss, damage or theft of items contained in your dwelling
LOSS OF USE: covers secondary accommodation because your current dwelling is damaged and no longer be used
PERSONAL LIABILITY: pays for legal representation in case of injuries a person may have sustained inside your home which you are liable for
MEDICAL PAYMENTS TO OTHER: pays for of injuries a person may have sustained inside your home
WHAT CONSTITUTES A COVERED LOSS?
A basic New Jersey homeowners’ insurance policy covers losses caused by:
-fires and lighting
-damage or loss by smoke, sudden or accidental
-vandalism or malicious mischief
-aircraft or vehicles
-windstorms or hail
-water damage, sudden or accidental
-heavy of snow, sleet or ice
-riots and civil commotion
HOW MUCH DO HOMEOWNERS INSURANCE COST IN NEW JERSEY?
The average citizen spends roughly $80.00 on home insurance every month. But not all insurance companies offer the same level or extent of service and these come with equivalent costs. It will be very beneficial to explore your options first to help you choose a package that suits your needs and that is well within your allotted budget. Additionally, you must take into account several factors (i.e. type of dwelling, location of home, number and cost of personal properties) to make a definitive choice. Finally, be sure to also keep in mind the frequently asked questions regarding homeowners insurance in NJ.