Protecting your home, family and assets in West Milford, NJ.

Why Do You Need Homeowners Insurance?

If there is a sudden tragedy such as a fire, hurricane, snow storm, windstorm and damage occurs to your home, without homeowners insurance you are not covered.  Homeowners insurance pays for losses and damage to your property in those instances.  If you still have a mortgage on your house, your lender has to ensure that your property is protected by insurance.  Your mortgage lender will typically ask for proof of insurance.  However, homeowners insurance does not cover floods, earthquakes or routine wear and tear. You can, however, buy separate policies for flood and earthquake damage.

If you are forced out of your home because of a disaster, your additional living expenses will be covered.

Homeowners insurance pays the reasonable additional costs of temporarily living away from your home if you can’t live in it due to a fire, severe storm or other insured disaster. It covers hotel bills, temporary rentals, restaurant meals and other living expenses incurred while your home is being rebuilt. Coverage for additional living expenses differs from company to company.

Homeowners insurance also covers your responsibility to other people injured at your home or elsewhere by you, a family member or your pet and pays legal defense costs if you are taken to court.

Decide How Much Insurance You Need.

Add up the cost of everything you would want to replace if it were damaged or stolen. This could also serve as the basis for an inventory that will make filing a claim easier. For an inventory, also record model numbers, dates and places of purchase. Take photographs or make a video of these items and place a copy of the inventory in safe place away form your home.

If you rent an apartment or house you need insurance to protect your belongings. While your landlord might have insurance, it only protects the building. Your belongings are not covered under those policies.