The Coverage Characteristics of Home Insurance in Randolph, NJ

Homeowners in Randolph, NJ face a variety of risks, most of which you can protect against with the right insurance policy. You know you need to protect your biggest investment, but choosing the right home insurance company and understanding the coverage options available can seem like a nightmare. It doesn’t have to be. These tips will help break down your home insurance options so you know what you’re looking for before you start collecting quotes.

Types of New Jersey Home Insurance Coverage

Coverage A: Dwelling Insurance

This type of coverage protects the structures of your home against damages; that includes the plumbing, wiring, heating and cooling systems, and other built-in features. The exact amounts covered and the causes of these damages vary in each policy.

Coverage B: Other Home Structures

This type of coverage insures any other structures on your property, including sheds, separate carports, and fences, up to a certain limit.

Coverage C: Personal Property

This type of coverage receives the most claims; it includes coverage against theft, vandalism, and damages caused by storms, fires, or other risks covered by your policy. Most personal property policies insure items for their actual cash value, though most policies limit the amount they’ll reimburse for valuable items like electronics and jewelry.

Coverage D: Loss of Use

Loss of Use coverage applies when your home is damaged to the point that it’s no longer livable. In this case, your policy will pay for alternate housing and possibly even restaurant meals until your home can be repaired.

Flood Insurance

The State of New Jersey makes it clear that standard homeowners’ insurance policies exclude flood insurance. You’ll have to purchase flood insurance as a separate policy if you want the coverage. A local, independent home insurance company will be able to talk to you about your options and suggest coverages that will best protect your home.