How to Compare Low Cost Homeowner’s Insurance in New Jersey

April 23rd, 2022 by admin Leave a reply »

The best place to compare low cost homeowner’s insurance here in New Jersey is online. Dozens of websites exist for the sole purpose of allowing you to compare the cost of homeowner’s insurance from different insurance companies.

In order for your comparisons to have any meaning, however, you need to have a policy in hand that you can compare so that the prices you are looking at are prices for the same policy. And that’s where this article comes in.

I’m going to let you in on many of the things you can do to create a homeowner’s policy that will protect your home but cost you the least amount of money possible. Once you have created your “dream” homeowner’s policy then you’ll get online and compare the cost of your policy at every insurance company you can here in New Jersey.

Let’s start with how large of a policy you need. You may want to consult with a builder or with a knowledgeable real estate agent in order to find out how much it would cost to rebuild your house from the foundation up and to replace all of the contents in your home. Because that’s what you want – the amount it would take to rebuild and refurnish your home exactly as it is right now, but you do not want to include the value of the land that your home sits on.

Water damage – not fire damage – is the leading cause of claims against homeowner’s policies, so if your home is over ten years old ask your agent how much you could save each month if you made a one-time investment in upgrading your electrical and plumbing system.

While you’re at it, ask how much you’ll save if you fill all potholes on your property, repair or replace any buckled or cracked cement walks and repair or replace all lose floorboards and handrails on decks and porches.

Also find out what your savings will be if you install low-cost floodlighting with motion-detectors and if you cut back all bushes away from windows to discourage burglars.

Then ask what your savings will be for adding deadbolts to every single exterior door and making sure that all windows – including upper floor windows – have a working lock.

Having a home security system installed that is monitored off-site 24/7 for fire and burglary isn’t cheap, but the 30% savings you could realize on your homeowner’s insurance could go a long way toward paying the cost. Just talk to your agent first because not all home security systems qualify for the full 30% discount.

Next you’ll want to make certain that you have the proper number of fire and smoke detectors in the house and that each and every one of them has a fresh battery. Detectors need fresh batteries twice yearly.

Buy a kitchen-rated fire extinguisher for your kitchen and keep it handy.

If you have a multi-story home ask your agent how much you could save each month if you installed rope ladders that could be lowered in case of fire or other emergency.

There is a deductible on your homeowner’s insurance and the higher your deductible the lower your monthly payment is going to be. But be careful. Remember, you need to be able to come up with the amount of your deductible out of your own resources any time you have a claim, so make sure it’s an amount that you can afford.

Combining all of your insurance policies and purchasing them from the same company will save you money every month through a Multi-Policy Discount and if you have had your policy with the same company for at least 5 years ask if you are getting a Long-Term Policy Discount.

Just as a side note, keep in mind that most New Jersey homeowner’s policies either do not cover wind damage or they have restrictions on wind damage. Also, no standard homeowner’s policy covers flood damage. Talk to your agent about additional coverage you may require for flood and wind damage.

Now you’ve got enough information to create the perfect homeowner’s policy that will save you as much money right from the get-go as possible, so now it’s time to get online and start comparing the cost of your perfect policy from every insurance company in New Jersey.

Make sure you take the time to make your price comparisons on at least 3 different websites so you’ll be certain of seeing the best price from all insurance companies, not just the few that each site uses for comparisons.

Now simply choose the best price – but make sure it is from a company that you feel comfortable will be around for the next 30 years. Now your job is done. You’ve made your comparisons and you’ve found the best low cost homeowner’s insurance in New Jersey that’s right for you.


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