Your home is often your most important asset. Homeowners insurance helps provide security and protection for your investment in the event of a loss to your home or your possessions. Homeowners insurance protects you from financial losses due to fire, lightning, theft, and many other perils that can occur at any time. If an injury were to occur on your property for which you are liable, or anywhere you are temporarily residing, homeowner’s coverage can protect you. Coverage can also extend to protect property damage you or your family members may cause to other people.
When purchasing homeowners insurance, it is important to understand how the insurance works, identify the kind of policy and coverage you need, and to compare different options in order to find the best fit. There are several different types of homeowner insurance policies. These vary by whether you own a home, condo, or if you are a renter. The various policies provide different levels of coverage. Generally, a standard New Jersey homeowner’s insurance policy protects the following:
Coverage for the physical structure of your home
- Coverage for structures on your property (storage sheds, pools, boathouses, etc.
- Coverage for your personal belongings, up to specified limits
- Liability protection worldwide for your non business pursuits
- Voluntary medical payments to guests and others
- Additional living expenses if a fire or other insured disaster