What should I require from my tenants?

We suggest that all of your tenants be required to carry renter’s insurance for themselves as part of their lease with at least $500,000 in liability coverage. We also suggest that your lease require you to be named as an additional insured. Renter’s insurance is normally inexpensive, and your policy as a landlord provides no…

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Insuring New Jersey Coastal Properties 

Q: How does an investment property get valued for insurance?  The best coverage will require that a building be valued at the reconstruction cost, which often is more than the cost to purchase, particularly if a building is distressed.  This will allow you to have replacement cost coverage. Conversely, many policies will allow you to…

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Insurance Tips For Newlyweds

Being newly married is exciting, but it also comes with a lot of new responsibilities. One important responsibility is reevaluating your insurance coverage. Use the following tips to make sure you are adequately protected: Check Your Health Care Coverage Options Health care coverage is important because it covers the costs of preventative checkups, medications, and…

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How to Properly Insure Your Jewelry

An antique brooch from your grandmother, the engagement ring you take off and carefully place when you’re cooking. Beautiful, one-of-a-kind earrings you received as a gift. For many, jewelry isn’t simply a fashion statement. Earrings, rings, bracelets, and other items often hold sentimental value and become part of family tradition. Just as with everything that…

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What Type of Insurance Do Young Adults Need?

More Than Just Auto Insurance… Young adults need to make sure that they do not under-insure themselves. It is common for younger drivers to pay more for their auto insurance, since they tend to lack road experience and often do not react quickly or correctly in dangerous situations. A common technique many online and direct…

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Whether Renting or Buying, Consider These Tips for Proper Insurance Coverage

We’ve been seeing continued improvement in the residential real estate market with home sales rising, interest rates continuing at low rates, and the job market showing enough improvement that people are comfortable selling their homes. The New York Times today has posted a useful calculator to help individuals determine whether the economics of buying make…

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Dogs 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…

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Does 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…

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What is Collision Coverage on an Auto Insurance Policy?

Auto Collision Coverage Collision coverage covers your car against damage to your car in an accident you cause, or damage caused in a hit and run accident.  It is purchased on a car by car basis on a policy, meaning that not all cars on a given policy have to have it, or to have…

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Personal Injury Protection and New Jersey Auto Insurance

The Newark Star-Ledger ran this article regarding PIP reform in NJ on Sunday, March 18.  PIP stands for Personal Injury Protection, and provides medical coverage under an auto insurance policy you have been injured as a driver, a passenger, or pedestrian and have been involved in a personal automobile accident. It underscores the rising costs…

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