Here’s everything you wanted to know about New Jersey home insurance. Well, that is not exactly true. It would take more space than this to tell you everything, but we can share some of the best tips for comparing various carriers and raise some issues that may help you decide how much coverage you need and if you need any extras.
Standard home insurance
Most standard policies cover:
Your policy will pay to repair or rebuild your home if the cause of loss is covered. You must be sure, though, that you have agreed with your carrier on the right cost to rebuild your home, because you may find it is insufficient. It is even wise to get your own estimates and appeal the insurer’s number. Update it if you have renovated.
Other structures coverage is usually also on the policy and refers to garages, fences and sheds on your property that could see damage of one kind or another..
Loss of Use
This will cover any additional housing and living expense if you do not have the use of your home during rebuilding or repair. Make sure you know if it has a cap of any sort that would limit how much you can claim.
This covers the furniture, jewelry, electronics, clothes and other belongings. However, there may be a need to buy additional coverage for jewelry and electronics if the cap is too low. Some consumers take photos or videos of their belongings and file receipts in a safe place.
If someone sues you because you or someone in your house caused an injury to someone else or their property, this is what protects you.
Extra home insurance
Extra optional coverage is available from newjersey-insurance.net/new-jersey-homeowners-insurance/ and could be wise if your circumstances dictate it. If you have expensive jewelry, you will want additional coverage. The same is true if you have valuable artwork or antiques.
Standard insurance policies do not cover some natural disasters, such as hurricane, flood or earthquake. You will need additional coverage if you live in a zone where these occur.
For some people there is a risk of personal and/or professional liability and in that case you might look into an umbrella policy for your own personal liability. If you work at home or in a business that might cause harm to another, you may want professional liability insurance. It all depends on your personal situation.