Why Having the Right NJ Home Insurance is a Must

Homeowners insurance covers your home and personal property. Even though it is not a requirement in New Jersey like auto insurance is, you’ll typically need it if you’re financing your property. While home insurance in NJ is an important part of protecting your personal assets, not all insurance coverages are the same. Choosing the right policy is just as important as choosing home insurance itself. 

Here are a few reasons why the right home insurance policy matters:

Get the most from your claims. 

Some insurance carriers have poor reputations when it comes to actually paying out in claims. You can learn this information by reading online articles, but a lot of people make their decisions based on the bottom number. By choosing a reputable insurance broker, you can obtain multiple insurance quotes and understand what special limits are in the policies. This way, you’ll be protected when you need it. 

Have coverage for perils your home is likely to face.

Depending on your home and where you live, there are some perils that you’ll be more likely to experience. For example, New Jersey sees harsh winters with snow, ice and high winds. You’ll want to make sure that these perils are covered in your standard policy. 

If you live in a flood zone, however, you’ll need a separate policy. Most homeowners policies only cover water damage from burst pipes or water heaters – NOT damage from a flood. Again, working with a trusted insurance agent ensures that all of your property’s needs are met. 

Choose riders to cover expensive items like jewelry. 

While home insurance does cover the cost of your belongings, it’s only up to a certain amount. Therefore, if you have expensive items like jewelry, furs, antiques and other valuables, you may need an add-on or rider. An insurance rider is added to your homeowners insurance policy and allows you to increase coverage limits, expand coverage for certain things or extend protection for certain perils. 

Here are some common riders you to consider adding to your policy: 

  • Scheduled personal property coverage
  • Water backup coverage 
  • Building code coverage 
  • Business property coverage 
  • Identity theft restoration coverage 

There is no right home coverage for everyone. To get the most from your policy, you will have to consider your unique needs and lifestyle. By working with an independent broker from Soden Agency, we can find you home insurance that meets your needs and budget