Home insurance is not required by law, but it is required by mortgage and home equity loan lenders. It can shield New Jersey property owners from large financial losses such as water damage or severe storms. Home insurance, coupled with a flood insurance policy, covers against these hazards.
The average cost of home insurance in the US is $1,173 a year. In New Jersey, rates are slightly lower with an average cost of $1,149. Your rates will be based on factors such as the age, size, and value of your house, the crime rate and weather risks in your ZIP code, your claims history, and even your credit score. Every insurance company calculates costs in a different way, so shopping around can save you hundreds of dollars. Independent agents make comparison shopping easy.
My son just got his license so we wanted to bundle the packages for the insurance together. I called some companies directly and I also tried an independent agent but the cost wasn’t good enough. The Trusted Choice agent gave me the best price and he was also very nice. He was great and I recommended him to somebody else. I will tell my friends to go for it if they ask. In the end, we’re all looking to save some money since insurance is getting higher and higher.Joe of Mount Holly, NJ Consumer Affairs
A good home insurance policy will cover you against most of the risks you face as a property owner in this state. It is important to note that while most policies cover against hurricanes, they do not cover the flood damage that often accompanies these storms; for that, you also need to have flood insurance. A typical homeowners insurance policy will provide you with the following:
Flood damage is not covered by homeowners insurance, even if it is the direct result of a hurricane. Many property owners in New Jersey are at risk for flooding, so be sure to ask your insurance agent about supplementing your home insurance policy with flood insurance through the National Flood Insurance Program (NFIP).
There are currently 485 independent insurance agents in New Jersey who are ready to help. Independent agents are free to work with a number of insurance companies, so they can provide you a variety of customized home insurance quotes that you can review and compare together. Let a local independent agent help you find the best policy to meet your coverage and budgetary needs.