Posts Tagged ‘home insurance’
Home Insurance and Aluminum Wiring
My home was built in 1970 and I have aluminum wiring in my walls. Is this safe? Many homes built in the late 1960’s to late 1970’s had aluminum wiring and components originally installed. This practice has been discontinued, and modern building codes specify copper wiring and components. Aluminum wiring is not necessarily unsafe in…
Read MoreElectrical Fires and Home Insurance
How can I help prevent electrical fires in my home? The risk of electrical fire can be minimized by following some simple rules: – Extension cords should never be run under carpeting or area rugs. Foot and chair traffic may damage the insulation on the cord over time, and exposed wire very possibly can cause…
Read MoreSinkholes and New Jersey Home Insurance
Q: Does my home insurance cover me from damage caused by sinkholes? A: Sinkholes have been in the news recently as a home in Florida was swallowed up on Tuesday, killing the occupant in the process. New Jersey home insurance generally does not cover sinkholes by default, they are excluded, even on very high-end policies. …
Read MoreWhat to Do when You Need to File an Insurance Claim
If you have suffered damage to your house, car or business and need to file a claim: Remain calm. Locate your policy number and contact your company to report the claim. A list of claims and contact numbers is available on claims help page Be sure to protect your home and car to prevent further…
Read MoreHousing Marketing Recovery and Home Insurance
The housing market is beginning to show signs of recovery after nearly 5 years of decline. Despite this, market prices are still below the cost to rebuild a home in most locales throughout New Jersey and the Northeast. An interesting article explaining home valuation and New Jersey home insurance in more depth is at Xactware’s…
Read MoreDogs and Home Insurance Policies
Q: I’m looking to obtain a dog, do I need to be concerned with my home insurance? Am I covered? A: The liability in a home (or condo or tenant) insurance policy in most states covers animal bites; however, if you have a dog at the time your home insurance policy begins and don’t disclose…
Read MoreDoes Your Insurance Policy Cover Your Children at College?
Q: What if my son or daughter is away at school? Are they covered under my home insurance policy, or do they need to get their own? Generally, if a child who is a resident of their parents’ house rents the apartment directly and relocates, he or she needs his own policy. If he or…
Read MoreHome Insurance Policy Coverage for Unmarried Cohabitants
Home Insurance Policy Coverage Does a homeowner’s, condo, or tenant policy cover people living in the same household if they are not related? Generally, no. Under most circumstances the cohabitants each should have their own tenant condo or home insurance unless they are in a domestic partnership and the insuring company allows them to have…
Read MoreIncreasing Insurance Rates in the Northeast
It’s often difficult to predict insurance rates into the future. This article appeared in the Newark Star Ledger over the weekend pertaining to the extreme weather that has been affecting the Northeast over the last few years and the expected impact on home insurance rates. http://www.nj.com/business/index.ssf/2012/01/insurance_experts_forecast_hig.html
Read MoreHome Insurance – Tree Coverage – It’s Complicated
Does Home Insurance Cover Tree Damage? We often get asked about how a homeowner’s policy covers trees that are damaged or cause damage on a homeowner’s property. The following generally summarizes coverage on a typical home insurance policy for different scenarios for storm damage (your specific policy and claim may have differences): If a tree…
Read More