Insurance Tips & Info
What is covered by a property insurance policy?
Your property is covered against sudden and accidental damage. There are key exclusions, notably flood, earthquake, sinkhole collapse, wear and tear, pollution (an oil tank that leaks, for example), damage caused by vermin, intentional acts, and others. Mold coverage may be limited, and water backup typically needs to be added.
Read MoreHow does a property get valued for insurance?
Good insurance policies require that a building be valued at reconstruction cost, which is based upon labor and material costs, debris removal, demolition, and other factors. This is usually not the same value as the market price. The purchase price of multi-family homes and commercial properties is normally valued based upon the income it generates,…
Read MoreIs my credit a factor in my insurance pricing?
Credit is used by nearly all insurance companies to either calculate a price or for acceptability.
Read MoreInsuring New Jersey Coastal Properties
Q: How does an investment property get valued for insurance? The best coverage will require that a building be valued at the reconstruction cost, which often is more than the cost to purchase, particularly if a building is distressed. This will allow you to have replacement cost coverage. Conversely, many policies will allow you to…
Read MoreInsurance Tips For Newlyweds
Being newly married is exciting, but it also comes with a lot of new responsibilities. One important responsibility is reevaluating your insurance coverage. Use the following tips to make sure you are adequately protected: Check Your Health Care Coverage Options Health care coverage is important because it covers the costs of preventative checkups, medications, and…
Read MoreHow to Properly Insure Your Jewelry
An antique brooch from your grandmother, the engagement ring you take off and carefully place when you’re cooking. Beautiful, one-of-a-kind earrings you received as a gift. For many, jewelry isn’t simply a fashion statement. Earrings, rings, bracelets, and other items often hold sentimental value and become part of family tradition. Just as with everything that…
Read MoreWhat Type of Insurance Do Young Adults Need?
More Than Just Auto Insurance… Young adults need to make sure that they do not under-insure themselves. It is common for younger drivers to pay more for their auto insurance, since they tend to lack road experience and often do not react quickly or correctly in dangerous situations. A common technique many online and direct…
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