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Choosing the Right Insurance Policy for NJ Homeowners

There is a lot to know about Home and Property Insurance in New Jersey. Learning how it can help protect both you and your assets is important. Choosing the right home insurance policy, as well as deciding what coverage options are right for you. Explore the answers to these questions and more here. Save money along the way with property discounts. Call Defrates Insurance today to get lower rates on home insurance in Audubon and all of New Jersey.

Home Insurance in Audubon, NJ

There are many different property insurance policies ranging from a Basic Fire policy to a Deluxe Homeowners policy and many different parts that make up a property insurance policy. A Basic Fire policy will typically include Fire or Lightning, Windstorm or Hail, Explosion, Riot, Aircraft, Vehicle, and Smoke. A Broad Form property policy is much like a Basic Fire policy but can include optional coverages such as Vandalism, Burglary, and Liability. A Special Form or Deluxe Homeowners policy typically protect against all forms of physical loss except those specifically excluded in the policy (i.e. Flood and Hurricane). A Landlords Package policy will function much like a Broad Form policy, but also include Business Liability and Loss of Rents.

Some common parts or terms of property insurance are:

• Family Liability – Family Liability may pay when you are deemed legally liable for property damage or bodily injury or death caused by you or one of your resident relatives in relationship to your home, or vacant land. There are Liability limits available up to 1million and beyond with a Personal Umbrella Policy.
• Guest Medical – May pay medical payments for guests who injure themselves in relationship to your home. Policy limits up to $5,000 are available.
• Dwelling Protection – Pays for covered physical damage losses to your home such as fire, lightning, falling objects, explosion, wind and hail, water damage from a pressurized system, vandalism, riot, theft and more.
• Dwelling Limit – The maximum the policy may pay for physical damage losses to your dwelling. See Extended Replacement Cost below for additional coverage.
• Other Structures – Any structure not attached to the dwelling (i.e. detached garage, fences and outbuildings)
• Deductible – The cost an insured is obligated to pay for any physical damage loss before the policy pays up to the policy limit.
• Personal Property or Contents – All items inside the dwelling or other structures that are not attached (If you took your home and turned it upside down and shook it, anything that falls out is covered under personal property coverage).
• Extended Replacement Cost – Pays an additional percentage over and beyond the Dwelling Limit to act as a guarantee of coverage for unforeseen increases such as a demand surge when there is a catastrophe that affects an entire community causing a shortage of contractors and thus, increased rebuilding costs.
• Additional Living Expense or Loss of Use – May pay when you and your family are displaced from your home allowing suitable living accommodations until your home is again habitable. (Sometimes has a fixed limit or timeframe that coverage may is afforded).

Defrates Insurance Home Insurance Policy

You have worked hard for what you have. Your house is more than just a place for your stuff. It’s your home. Be safe, smart, and secure. Protect the people you love and the things you value with a Defrates Insurance home insurance policy. Most people do their homework when it comes to home improvement. They research contractors, materials, and architects. They study up on whatever it takes to get the job done right. The truth is, most people overlook one important detail, acquiring the proper insurance. More than half of all homeowners are underinsured.

Defrates Insurance in Audubon Can Help!

Defrates Insurance can help you to make sure you are properly covered in Audubon and rest of New Jersey. You can’t predict what will happen, storms, theft, or fires, but you can prepare for what may come with Defrates Insurance. When the unexpected happens, you want the right Insurance Agent and the right Insurance policy for your property. Be prepared and be prepared. Protect what matters most with home and property insurance in Audubon and rest of New Jersey.

Definitions of coverage and limitations or exclusions can be referred to in your policy. Our Agency in new Jersey represents multiple insurance companies and all policies vary as to coverage, terms, conditions and restrictions or exclusions. We are here to answer questions you have about any of insurance products offered. Call us today.