Questions To Ask When Buying Homeowners Insurance In NJ

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Questions To Ask When Buying Homeowners Insurance In NJ

Whether you are a first time home buyer in NJ or you are looking to update your current homeowners insurance policy, it is important to begin by choosing a trusted company who has a long track record of happy customers. When you choose the right company to insure your home, you can sit down and talk through all the important issues that need to be taken into consideration when covering your home. Here are important questions to ask when buying homeowners insurance.

What Is The House Worth?

First, you need to decide on the home’s insurance value. This is based on what it would cost to rebuild the house, not the market value of the house. You can work with your agent to figure this out by using tools that consider the size and building materials used in the home.

What Is My Deductible?

You will have to choose your deductible amount when choosing a homeowners policy. You can save money on premiums by choosing a higher deductible amount. This also ensures that you will not be making several small claims, keeping you a more attractive customer and lessening the chances of being dropped by the insurer. Just be sure that with a high deductible, you have an emergency fund available to cover you.

Do I Need Flood Insurance?

Flood insurance will not be covered in a standard homeowners policy. If your home is at risk of flooding, you can buy flood insurance through your homeowners insurance agent. At Bogle, we can help you acquire flood insurance. If you have a mortgage on your home, the mortgage company may require you to have flood insurance if the home is at risk. This includes many areas in New Jersey.

Are The Contents Of My Home Covered?

Homeowners insurance will automatically cover your possessions up to a percentage of your home’s insurance value. Many time this percentage will be set at 75%. So by that logic, if you are insured for $200,000 you automatically will have your possessions covered up to $150,000. There may be a lower limit for items such as jewelry. Therefore, if you have a high amount of valuables, you may want to add some additional coverage for them. To streamline a claims process, inventory the contents of your home and keep that list updated. You can do this with photos and/or videos of each room. That way, if you have an incident you will know exactly what is missing or damaged.

At Bogle Agency Insurance, we have been in business for nearly 100 years with a long track record as a trusted NJ insurance company. Contact us today to talk about your homeowner’s policies!

 

Why You Should Consider Earthquake Insurance in NJ

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Earthquake Insurance in NJ

EarthquakeIn New Jersey we worry about hurricanes, nor’easters and snow storms each and every year. Flood insurance is a must for many areas on top of your standard homeowners. However, there is one type of insurance that often gets overlooked in New Jersey. But, it was proven just this month that it is a very wise investment. If you haven’t thought about it yet, here are some reasons why you should consider earthquake insurance in NJ.

 

Earthquake Shakes NJ

It is true that roughly 81 percent of the biggest Earthquakes happen along the “Ring of Fire” which is the Pacific earthquake belt that runs up the west coast of the United States. While most of your major earthquakes occur there, that does not mean that there are not many more major and minor ones going on all over the country, and the world all the time. Just in 2011 alone there were two significant earthquakes. One centered in Virginia that cause significant damage to the Washington Monument, and one in Oklahoma that was the state’s largest quake ever recorded in modern times. And of course, NJ was shook by an earthquake just this past month centered in Bernardsville.

 

Expect The Unexpected

Most U.S. households and businesses don’t carry insurance to cover earthquake damage. And it is not covered in your standard policies in New Jersey. An earthquake is something you can’t predict and can’t prevent. Less than one percent of the people affected by the 2011 Oklahoma earthquake were insured, while half the total losses from the 2011 Virginia quake were uninsured as well. It’s not something you expect and you hope it will never happen here in NJ. But the fact is it does happen and for a minor investment you can be protected from the unexpected.

Get Covered For Earthquake Damage Now!

New Jersey residents are not covered from earthquakes, landslides and sinkholes as a part of conventional homeowners policies. Now is the time to consider adding these provisions to your policies. Bogle Agency Insurance in Lyndhurst,  New Jersey is here to help. We can guide you on making the best decisions for the safety of your home and your family.