New Jersey Homeowners Insurance
Whether you own a house, condominium or
townhouse, for most people their home is their most
important investment. The RLM Agency of Pompton
Lakes, NJ offers New Jersey homeowners insurance
policies that have flexibility to meet your individual
needs and above all, provide you with the security
that comes only from the knowledge that your home
is safe.
Insurance for your home is one of the most popular
and important forms of personal insurance and the
typical New Jersey Homeowners Insurance policy
has two main sections:
Homeowners insurance is often required by lenders to
obtain a mortgage and nearly everyone, whether you
own or lease property, should have the protection of
homeowners insurance.
Click on the link below to fill out a secure quote request form for a
New Jersey Homeowners Insurance policy that will provide excellent
insurance coverage at an affordable cost. Or you can speak with our
Passaic County New Jersey Homeowners Insurance agent specialist
at (201) 704-6682 to discuss the policy features in more detail.
We are a Pompton Lakes, NJ insurance agency offering affordable New Jersey
homeowners insurance policy coverage in the following towns, cities and counties
in northern New Jersey: Garfield, Saddle Brook, Elmwood Park, Preakness,
Paramus, Bergenfield, Englewood, Teaneck, Maywood, Bogota, Hackensack,
Teterboro, Little Ferry, Moonachie, Leonia, Palisades Park, Fort Lee, Englewood
Cliffs, South Hackensack, East Rutherford, North Bergen, Ridgefield, Secaucus,
West New York, North Arlington, Kingsland, Nutley, Rutherford, Belleville,
Carlstadt, Woodridge, Lyndhurst, Wallington, Lodi, Rochelle Park, Bloomfield,
Montclair, Great Notch, Totowa, West Paterson, Little Falls, Verona, Cedar Grove,
North Caldwell, Singar, Fair Lawn, Glen Rock, Hawthorne, Wayne, Haledon, River
Edge, Tenafly, Cresskill, Closter, Oradell, Emerson, Ridgewood, Midland Park,
Westwood, Waldwick, Wyckoff, Franklin Lakes, Pompton Plains, Lincoln Park,
Old Tappan, Hillsdale, Oakland, Pequannock, Lake Hiawatha, Jersey City,
Hoboken, Elizabeth, Union City, Livingston, West Milford, North Haledon,
Bloomingdale, Butler, Clifton, Hudson County, Union County, Essex County,
Sussex County, Morris County, Bergen County, and Passaic County, NJ.
We can also offer cheaper New Jersey homeowners insurance policy rates
throughout the Garden State.
Section I - insurance coverage for your property
Section II - personal liability coverage (to cover you
in case of lawsuits arising from things that happen
on your property)
New Jersey Homeowners Insurance FAQ
Personal liability in a New Jersey homeowners insurance policy is also an
important part of having security from accidents that may occur on your property.
We suggest you choose coverage limits that are not less than those on other
liability insurance you own, such as car insurance.
New Jersey Homeowners Insurance Policy FAQ
Click on the link below to fill out a secure quote request form for a New Jersey
Homeowners Insurance policy that will provide excellent insurance coverage at
an affordable cost. Or you can speak with our New Jersey Homeowners
Insurance agent specialist at (201) 704-6682 to discuss the policy features in
more detail.
Covered losses under a New Jersey homeowners insurance policy can be paid on
either a replacement cost basis or on an actual cash value basis. When "actual cash
value" is used, the policy owner is entitled to the depreciated value of the damaged
property. Therefore, the older the item is, the less money you may receive for it. If you
choose the "replacement cost" coverage, the New Jersey homeowners insurance
policy will reinburse the amount it costs to replace the property with something of a
similar type and quality at current prices.
An "All Risks" policy provides the broadest New Jersey homeowners insurance
protection because it will cover losses that are due to any peril except those
specifically excluded in the policy. A "Named Perils" policy covers losses that are
due to only those perils listed in the standard New Jersey Homeowners Insurance
policy and typically include fire, hail, windstorm, and other physical losses.
New Jersey Homeowners Insurance Policy FAQ
If your policy limit is less than 80% of the replacement cost of your home, you will
face a "coinsurance penalty," which means you'll have out-of-pocket expenses to
cover costs beyond the policy deductible you chose. For example purposes we will
assume your home's estimated replacement value (RCV) is $100,000. The co-
insurance clause requires you carry at least $80,000 (80% of your RCV). If you
chose to purchase only a $40,000 New Jersey Homeowners Insurance policy you
would be underinsured by half. Therefore, in the example the insurance company
would pay one-half of a loss less the policy deductible, so if you suffered a $10,000
covered loss to your house, condominium or townhouse and had a $500
deductible, your policy would only pay $4,500.
New Jersey Homeowners Insurance Policy FAQ
**The information, pictures, and other content in this website about particular insurance
services is only provided for informational purposes. Any decisions regarding your
insurance needs should be discussed with a licensed insurance agent.
Replacement Cost or Actual Cash Value
New Jersey Homeowners Insurance Policy FAQ
All Risks or Named Perils
Coinsurance Penalty
Personal Liability
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Homeowners
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New Jersey
Personal Insurance
RLM Agency, Inc.
Attn: Linda
23 Colfax Avenue, Rear
Pompton Lakes, NJ 07013
Passaic County, New Jersey
Office: (201) 704-6682
Fax: 973) 215-2645
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