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Home Insurance

Homeowners insurance is not a requirement of the law in New Jersey but if you are taking out a mortgage on the home, your lender may require that you purchase home insurance as a part of the agreement for the loan.

Even if you are not required to have homeowners insurance for your home, it may be something that you will want to consider. You do not want to have to pay out of pocket for repairs if you do not have an insurance policy. Many things can happen to your home that you cannot control and you want to be able to financially take care of the home no matter what. Homeowners insurance can provide you with that financial support.

Homeowners insurance can be beneficial in a number of different circumstances depending on the type of insurance that you get included in your policy. There are components that protect the structure of the home, the dwellings, the land around the home that you own, and even all of your personal belongings in the home. Additionally, it can provide you with personal liability in case someone gets hurt while on your property and medical payments for those who are injured on your property.

Homeowners insurance is something that you should consider whether you are living in the home or not. Even if you are renting out the property, the renters insurance that your renters purchase will not protect your home. You should still require that renters insurance be purchased but you should also have homeowners insurance.

There are no homeowner's insurance policies in New Jersey that include flood insurance as part of the coverage. You may want to consider getting an additional flood policy for your home even if you are not living in an area that is prone to flooding.

Be sure to contact us here at Risk Reduction Plus Group, Inc. if you want to get a quote for homeowners insurance.