All posts in Homeowners Insurance

Know Your Rights as a Homeowner in an HSA

Know Your Rights as a Homeowner in an HSA

Homeowners associations are a wonderful thing for a community when they come together well and their activities represent the consensus of a whole neighborhood, but like many other volunteer and community-led organizations, they are prone to issues when territorial members try to seize control. That’s why it’s important to know your homeowner’s rights when you live in a property that is part of an HOA. One of the most important is the right to be free from housing discrimination, codified by the Fair Housing Act. While HOAs are free to create many customized rules for communities, they can not create rules that codify and endorse discrimination in housing.

Your Right To Transparency and Consistency

HOAs are also bound by their own rules. Issuing nuisance fines over items that are not clearly in violation of the letter of the HOA’s terms is forbidden, for example. So is lopsided enforcement if it can be proven because issuing fines for a non-violation and creating a violation just to enforce it against certain community members both end up with similar results from the point of view of the people targeted. Similarly, an HOA can not arbitrarily add new rules or remove them. They have to notify members and go through a democratic process as outlined in their bylaws to change those bylaws. Make sure you know your rights, and that your insurance is designed to help you robustly defend them.


Do You Need Umbrella Insurance?

Do You Need Umbrella Insurance?

Many people aren’t sure what an umbrella insurance policy is, and in a lot of cases this type of insurance isn’t necessary. However, some homeowners need a policy that goes beyond their basic coverage. If you own a pool or another fixture that increases your risk and liability, or if you have assets that go beyond the reach of your general policy, you might want to look into umbrella insurance in NM. You can’t afford to wait until after something has gone wrong to find out your insurance only covers you to a certain extent, and an umbrella policy could help to prevent that from happening.

Finding the right insurance can be difficult, as not all policies are the same and not everyone needs the same type of coverage. This is especially true for people looking for insurance in NM, where the houses and conditions are different from city to city. With the right umbrella insurance, you can extend your existing policies, such as homeowners, automobile and boat insurance, in case something happens that isn’t insured under your basic coverage. It’s never the right choice to assume that you’re covered under your general policy. Think about your possessions and liabilities, and then find a good insurance provider who can offer a policy that will actually meet your needs.


3 Reasons to Invest in House Insurance

3 Reasons to Invest in House Insurance

Many people avoid paying for extra insurance in order to save some cash. While saving money is important, so is keeping you and your family protected in the event of disaster. There are many reasons why you shouldn’t cut your Glen Rock house insurance out of your budget entirely, a few of the most important ones including:

Protection From Fire

When you experience a house fire, the damage can be extremely expensive to repair, especially if the flames managed to linger around long enough to reach key structural elements. Your home insurance is designed to mitigate the costs associated with fire damage and get repairs done sooner.

Weather-Related Damages

The weather is unpredictable at the best of times, and disaster can strike without warning. If you experience unexpected severer weather and your home is damaged, it’s good to have your insurance provider there to assist you with paying for repairs.

Personal Liability

Regardless of how careful you are, accidents are bound to happen. Unfortunately, if they happen on your property, you could be subjected to a lawsuit. Glen Rock house insurance sends out an agent to assess your risks and covers you accordingly when it comes to injuries and other such issues.

While there are many other reasons why you should invest in home insurance, the above three benefits should be enough to make anyone consider consulting a representative of their chosen provider as soon as possible.


Protecting Yourself From Lawsuits at Home

Protecting Yourself From Lawsuits at Home

When most people think about home insurance in Los Angeles, they may think about protection from theft, fire and weather, some of the largest benefits of having this type of coverage. However, what most people forget is that home insurance is also critical at protecting homeowners from lawsuits resulting from personal injury or other unfortunate accidents that occur on their property.

When you decide to purchase homeowners insurance, a representative of your provider of choice is sent to your home to assess your personal risks. This takes into account various factors, such as the age of the home itself, the addition of pools, sheds or any other item located on your property that might be considered risky to any extent. These factors are then used to create a coverage plan that assesses your individual needs as a homeowner and ensures you’re covered in the event that an accident occurs on at your home that results in personal injury or other damages.

Protecting yourself is important, but protecting others is equally crucial if you’re looking to promote a safe home and avoid any potential lawsuits in the years to come. Speaking with a professional about home insurance in Los Angeles can help you to better understand your options and get you on your way to obtaining the coverage you need.


Is the Property You’re Handling Covered?

Is the Property You’re Handling Covered?

Companies who hold property for a client for any amount of time are automatically entered into a bailment relationship. The owner of the property is considered the bailor, while the person holding the property is considered the bailey. When this relationship occurs, it is vital not only to have insurance against damage, but also to have proper bailee coverage.

To understand more about the bailment relationship, it is important to understand the type of business carriers there are to determine what type of coverage is needed. There are private carriers and common carriers. Private carriers have the right to refuse to enter into a bailment relationship and can give stricter limitations on culpability and the amount of coverage they offer. In addition, handling of property or goods may not be the primary function of the business.

Common carriers, on the other hand, have much less control over their bailee coverage as they are highly susceptible to culpability of damage. It is prudent to point out that the common carriers primary role of the business revolves around bailment. This culpability is increased because the bailor generally keeps property in its possession until the transaction is complete.

After understanding the crucial differences between the types of businesses that may carry bailment clauses, it is important to have the proper amount of insurance. Bailee coverage is easy to obtain, but difficult to live without, so companies that need insurance should look for appropriate coverage.


3 Types of House Insurance You Should Consider

3 Types of House Insurance You Should Consider

When searching for house insurance in Bergen County, the sheer amount of coverage options can make the whole ordeal seem entirely overwhelming. Knowing exactly what you need to protect your home is a challenge that can be impossible to navigate without the right guidance, but a few of the coverage options you should definitely consider in order to ensure you’re covered from all threats are:

Extended Replacement Cost Coverage

This ensures that when you purchase a home, you’re covered for a much longer time than standard coverage plans offer when it comes to serious damage that may require several parts of your home to be replaced entirely.

Inflation Guard Coverage

Protecting your home’s value is a must, and inflation is often your biggest threat. This type of coverage mitigates the damage of the passing years and fluctuating market to keep your investment safe and sound.

Broadened Theft Protection Coverage

Having your valuables stolen and your security compromised is no small issues. Therefore, you need coverage that understands these issues and protects you in the worst case scenario. These plans can vary based on compensation and protection, but any investment in theft protection is a step in the right direction.

While there are many options available when you’re looking for house insurance in Bergen County, some are more valuable than others, and these are certainly a few choices which you should consider closely before making your final commitment.


Managing Multiple Insurances for Your Business

Managing Multiple Insurances for Your Business

Your small business has many different facets, so you might need multiple insurances to protect every part of it. While some businesses can function with a simple liability insurance policy, others require more to make sure the owner, employees and customers are protected. If you’re looking for a commercial package policy in Florida, you need to find an insurance company that has expertise bundling multiple insurance policies into one easily manageable for you. Ensuring that you have all your insurance policies established and organized serves your business for years to come.

At first it might not seem that you need more than one insurance policy, but depending on the different components of your business, you might find yourself quickly accumulating five or six. From company auto insurance to equipment breakdown to content and property insurance, you need a way to keep all the information systematic and risk as little as possible. An insurance company that can find you a commercial package policy in Florida only benefits you. By entrusting your small business to a reputable insurance company who is able to help you determine what policies you’ll need for proper protection, you make the decision to ensure your business is secure for as long as you’re a part of it.


NJ Homeowners Insurance for First-Time Buyers

There is a certain kind of excitement that comes with buying a first house. There can also be a steep learning curve for all the ins and outs of homeownership. Fortunately, it is possible to demystify NJ homeowners insurance quotes with some basic background information.


Homeowners Insurance Coverage Varies


There are a range of insurance packages available on the market today. A homeowners policy may include several types of coverage, such as protection against:


  • Damage to your home
  • Damage to or theft of your belongings
  • Liability, which includes court and legal fees that arise when somebody is injured on your property or a member of your family causes damage to somebody else’s property


For a first-time homeowner, it is a good idea to start with a basic package that offers standard coverage elements. Then it is always possible to make changes down the road as a homeowner acquires additional valuables or takes on additional risks.


Some Basic Terminology


As first-time buyers compare a range of NJ homeowners insurance quotes, there are a few terms they should keep in mind. The premium is the amount the homeowner pays for the insurance policy. Premiums may be due annually, semi-annually, quarterly, or monthly, depending on company policies.


For each type of coverage included in a particularly policy, the insurance company will typically place a cap on the maximum amount the company would pay out for that type of claim. This is called a coverage limit.  Policies that have higher coverage limits usually have higher premiums.


With some basic terminology, first-time homeowners should be well on their way to understanding NJ homeowners insurance quotes and choosing the policy that is right for them.


Three Commonly Missed Homeowners Insurance Discounts

If you have found the home of your dreams but now are just asking yourself the big question, “How much is homeowners insurance in NJ?” then you should know about a number of different discounts and credits that you may be eligible to receive. Here are some of those credits and discounts that might make a convo with your insurance agent worth your while.

Gated Communities

The credit for buying a home in a gated community—where the home is much more secure and less prone to break-ins and other risks—can be as great as 20 percent of your premium.

Quit Smoking

It might sound strange, but smoking is not only hazardous for your health, but it can also be a hazard in your home. There are close to 20,000 house fires per year with hundreds of related fatalities each year and hundreds of millions of dollars in property damage and loss. If there are no smokers in your household, you may be eligible for discounts on your homeowners insurance.

Homeowners Associations

If your neighborhood has a homeowners association, you may be eligible for further discounts on your insurance due to the fact there are generally regulations that govern the care and security of your property. If you are asking yourself the question, “How much is homeowners insurance in NJ?” then you may want to take some other things into consideration and ask your agent about.


Three Reasons New Jersey Homeowners Should Consider Flood Insurance

After Hurricane Sandy, some New Jersey residents are still struggling to decide whether they should add flood insurance to their NJ homeowners insurance policies. Many homeowners want the protection but question whether they really need it. Before making a decision, homeowners should make sure to consider the following three reasons that having flood insurance pays off.


1. High Claim Likelihood


For people living in areas that are not considered flood-prone, purchasing flood insurance may seem unnecessary. Surprisingly, though, the National Flood Insurance Program reports that one-quarter of flood insurance claims are filed by people who do not live in high-risk areas.


2. Floods With Unusual Causes


Many people forget that storms and rainfall are not the only causes of flooding. Other weather events, such as heavy snowfall, can lead to flooding. Issues with manmade water supply systems, such as burst water mains, can also cause flooding.


3. Other Factors That Raise Flood Risk


The slope of a yard, the effectiveness of nearby drainage systems, and the homeowner’s maintenance of home drainage systems can all raise the risk that a home will experience water damage. Flood insurance is essential for homeowners with higher-risk properties, even if the property is located in a low-risk area.


Protecting Against the Worst


Since a regular NJ homeowners insurance policy will not address losses from flooding, homeowners should strongly consider purchasing flood insurance to protect their most valued possessions. Although flood insurance may not prove necessary for every home, the potential financial consequences of flooding make this insurance an advisable investment.