Becoming a homeowner means understanding the importance of having homeowners insurance in New Jersey. With the changing of seasons in certain regions there will be different exposures that could possibly cause serious damage to your beautiful home. In addition, there’s also the ever-present threat of a lawsuit if someone is injured while on your property. While some issues are obviously out of your control, there are things that every homeowner should do to protect their property and their finances, including comparing rates on house insurance in New Jersey.
Compare prices for coverage options
Every three to five years it makes sense to shop for the same level of coverage, including deductibles, policy limits, and riders with other insurers. Companies often give a discount for loyalty, so staying put might be the best option. You also might find that if you bundle coverage this might also result in added savings. Buying several policies (home, auto, boat) from the same insurer can often save you up to 15 percent on all policies.
The more business done with one insurer, the less chance of coverage being dropped due to a single claim. Raising your deductible can save you money in the long run as well. Maintaining and upgrading your home’s fire and smoke detectors, burglar alarms, and dead-bolt locks can cut as much as 20 percent off of the premium. In storm-prone areas, add hurricane shutters and shatterproof windows as well.
Perform a home inventory
Most experts agree that recalling lost or stolen items and papers is one of the most difficult parts of the claims process. Make sure to catalog all pertinent belongings, including receipts, with video or photos. Keep copies of vital documents in a fireproof safe, in a bank safe-deposit box, or somewhere safe off premises.
Avoid filing claims for inexpensive issues since insurers may raise premiums (or even drop a customer) for making multiple or frequent claims. Smokers, owning dangerous pets, and high-risk equipment are just a few reasons why insurers may decide to increase premiums or rates on house insurance in New Jersey, and this could even result in a homeowner being deemed uninsurable. Homeowners insurance in New Jersey provides much needed protection, so speak to a qualified agent today!