Finding a good home insurance quote may feel like just as much fun as pulling out your teeth but unfortunately it really is a necessary job that has to be done. Realistically your homeowner’s insurance policy is going to one of the most important documents in your life and you need to be sure that it truly reflects your lifestyle and your needs, and also offers the right coverage to protect your assets. Your home will likely be your biggest financial asset, not to mention the place where you sleep at night and so you need to make sure that your assets are secured. But, where do you start? You might want to do some research about the system itself before you dive head first into it. Here are a couple of pointers you can use to help you get the best New Jersey homeowners insurance quotes from newjersey-insurance.net possible.
What are the Average Claim / Premium Costs?
The national average cost of homeowners insurance in the U.S is approximately $804 per annum, but the average cost in New Jersey is actually slightly lower at $726. However these numbers do come from 2006 which is the last year which average costs could be reliably calculated due to the recession and the drop in house prices. This average cost will likely cover the basic perils of homeownership included by most insurance companies. These are fire, lightning, windstorms, theft and volcanic eruption. Obviously not everyone will claim on their insurance every time something bad happens due to the cost of deductible and also the risk of increasing the premium, but when claims are made the pay-out is generally around the $7,500 mark.
Access to Home Insurance
Insurance companies will look into every aspect of your home and your lifestyle in order to ascertain whether you are a safe bet to make. If they deem that you are an unsuitable applicant then they do have the right to deny you coverage. However every homeowner is entitled to protect their home and that is why the New Jersey Insurance Underwriting Association provides Fair Access to Insurance Requirements (FAIR). This will provide customers who have been refused protection by other providers insurance to protect their home. However the coverage is basic and doesn’t come with the option to add excess coverage or to make changes to the policy in order to reflect your life.