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Home Insurance in New Jersey

Home Insurance Retcho Insurance Agency Closter New Jersey

New Jersey is an amazing place to live, from the beautiful natural spaces to the excellent schools, fantastic culture, and low crime rate. Consider what would happen if everything in your house—including your clothes, furnishings, appliances, kids' toys, CDs, and DVDs—just disappeared. If they were destroyed in a fire, how much do you think it would cost to replace those items? What if a robber only stole one expensive item, like a laptop or stereo? Where will you obtain the money to replace your home's contents or a brand-new one if a tragedy hits? 

Home insurance comes with various coverage options, all working together to protect you. Retcho Insurance Agency in Closter NJ wants you to know how home insurance protects your property.

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Dwelling & Other Structure Coverage (Damage to your home)

Your dwelling coverage protects the home(structure) itself. This means covering different parts of the house(including structures not attached to your home) from various disasters and accidents. If a covered risk causes significant damage to your home, your homeowner's policy can cover the rebuilding or repair expenses. Considering the investment that you have made in your home; this is typically the cheaper option if a disaster strikes. Please note, that home insurance does not cover flood losses. For flood losses, you will need Flood Insurance. Below are examples of covered losses:  

  • Fire and smoke

  • Lightning

  • Wind

  • Hail

  • Theft

  • Vandalism

Personal Property Coverage

Besides the general structure of your home, you also have other possessions like electronics, furniture, gadgets, appliances, and clothes. If you face a covered risk such as theft, vandalism or fire, home insurance can help repair or replace these items even if it's damaged or stolen outside the house.

There is also an optional coverage you can add to your homeowners policy to cover high-value items, like jewelry, arts, furs, etc. Although personal property protection helps cover many of your belongings, most insurance companies set limits on certain items. If you were to reach that limit, scheduled personal property coverage helps make sure you have enough protection.

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Scheduled Personal Property Coverage(SPP)

While personal property coverage is an important part of home insurance, it's important to read your policy carefully to understand what this coverage may help protect or lack. You may discover that adding scheduled personal property coverage to your home insurance policy can help provide greater protection for some of your most valuable possessions.

Scheduled personal property insurance is a supplemental insurance policy that goes beyond the standard coverage provided by a home insurance policy. Owners can ensure full coverage of valuable items, such as jewelry, in the event of a claim by purchasing a scheduled personal property policy.

Liability Coverage

There is always the possibility of a guest being injured in your home. Maybe a plumber had come to repair the sink but tripped on your cracked driveway and got injured. With house insurance, instead of you being liable for those medical expenses, your policy helps cover those bills. The same applies to guest property damage. Your policy covers the repair expenses.  For example, if someone is injured in your home and you’re found legally responsible, liability insurance can help cover costly legal defense fees, settlement fees and more. 

While liability coverage may assist keep you from having to pay out of pocket should the unexpected happen, nobody ever plans to be found at fault for an accident that occurs at their house.

Liability coverage also may help cover damages that stem from a covered loss that happens when you're away from home. For instance, if you accidentally cause damage to your hotel's lobby, this coverage may help protect you if the hotel company seeks reimbursement. You can further increase your liability coverage limit with an Umbrella Insurance.


Additional Living Expense

If you are forced to leave your house due to a covered event, home insurance will help cover costs such as alternate lodging and other living expenses.

For example, if a fire severely damages your house, your insurance will help pay for your hotel stay and meals.

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Homeowners insurance isn't required by law in New Jersey, but your mortgage company will most likely require it in order to get and maintain your loan.  One of the significant benefits of having home insurance is a peace of mind. With the cost of living going up every day, you need a policy that protects your finances in case you are exposed to risks. At Retcho Insurance Agency in Closter, we understand how important that is. That is why we provide home insurance for you that is customized to fit your needs. If you are ready to enjoy these benefits, get in touch with our home insurance agents today. Contact our insurance agency in Closter NJ to get started with a house insurance quote. Don't forget, you save more when you bundle your auto insurance.

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