Beautiful Waterfront Home

The dedicated professionals at Blue Lion Insurance Advisors, LLC are well aware that, for most of us, home really is where the heart is. We want to insure our homes not only because they are our largest investments, but because they are our family headquarters, the places that hold our warmest memories, and our most prized possessions. 

So when you contact our advisors to discuss your Homeowner’s Insurance, we will be sensitive to the specific needs of you and your loved ones. Because we are an independent firm, not affiliated with one particular insurance company, we can offer you an unusually broad range of cost-effective options. 

Whether you live in a house, a condo, a co-op, or a townhouse, contact Blue Lion Insurance Advisors, LLC. We will find the most inclusive Homeowners policy for you at the most reasonable price. More than that, we will provide you with objective advice to help you decide what type and amount of coverage you need. 

Blue Lion_Personal

Is Homeowners Insurance Required in New Jersey?

In Red Bank and throughout New Jersey, there is no law requiring you to have Homeowners Insurance though most mortgage lenders make it mandatory. Even if you don’t have a mortgage, you would be foolish not to make Homeowners Insurance a priority because the financial risks may be higher than you think. 

There are very real possibilities that a storm or fire could cause extensive property damage or that a neighbor may trip and fall over a bit of raised pavement on your walkway, suffering serious injury. Whether you are faced with expensive structural repairs or a premises liability lawsuit, you may suddenly find yourself facing punishingly high costs unless you have comprehensive Homeowners Insurance.

What Homeowners Insurance Covers

Once you contact Blue Lion’s Homeowners Insurance Advisors, we will help you find an insurance plan to provide you with comprehensive coverage for:

  • Damage to your home or other structures on your property (e.g. sheds, 

detached garages, fences) due to weather, vandalism, fire, or theft

  • Damage to, or loss of, furnishings, appliances, computers, 

devices for home use and other possessions 

  • Personal liability claims for injuries incurred on your property (e.g. medical costs, loss of the injured party’s income)
  • Additional living expenses if you can’t live in your home because of a covered loss
  • Cost of rebuilding your home (replacement value)

Supplemental Insurance or Riders You May Need

There are Homeowners Insurance policies that do not cover additional living expenses (ALE), in situations in which your home is so severely damaged that you have to live elsewhere during repairs or rebuilding. Nonetheless, most of our clients want the reassurance of knowing they will have the funds to pay for a hotel or rental, restaurant meals, etc. after the catastrophe.

Depending on where you live in New Jersey, you may need flood insurance. During recent years, many locations in our state that were previously considered outside of flood zones have been damaged by flooding, so it is important to investigate possible risks in your specific area. When you work with us, we will also make certain that you have any additional riders you may need to make sure that any high-value items in your home — such as jewelry, antiques, collectibles, or works of art — are fully insured. 

Things Not Typically Covered by Homeowners Insurance 

One of the reasons it’s so important to work with a skilled insurance advisor is that we know the details of each policy’s coverage. For instance, not all homeowners insurance plans cover burst pipes and none cover earthquakes. It may surprise you to know that infestations by termites or carpenter ants are not covered by your homeowners policy either.

Because we recognize the complexity of Homeowners Insurance coverage, we are happy to meet with you to go over your existing policy to explain exactly what it does and does not cover. Call us at (732) 649-1600 or contact us online for a free review of your existing Homeowners Insurance policy so that we can help you make an informed decision about filling in any gaps.

Consider Additional Rebuild Coverage

A standard Homeowners Insurance policy will insure your home at its replacement cost, which means you will recover the amount it costs to rebuild your home at current construction and labor prices — minus your deductible. This coverage will also be used for debris removal. 

The premiums on your Homeowners Insurance will increase incrementally as the value of your home increases with inflation, but this basic replacement cost does not allow for the sudden rise in construction and material costs associated with a natural disaster that affects many homes in your local area. This is when it is good to have:

  • Extended Replacement Coverage that may provide up to 25 percent more coverage than your initial policy or  
  • Guaranteed Replacement Cost Insurance that, as the name indicates, gives you the certainty of knowing that you won’t have to pay more than your deductible for rebuilding; the policy will pay the full cost of rebuilding your home with no cap on the cost

Homeowners Insurance for Second Homes

Many of our clients own second homes that serve as vacation destinations or have been purchased for retirement. However they are purposed, second homes require tending and insurance just are primary homes do. As a matter of fact, second homes may be at greater risk of damage because they are occupied by renters who may be less careful than owners or because they are uninhabited for long stretches of time.

Contact Our Homeowners Insurance Experts Today

Our Blue Lion Insurance Advisors have been dedicated to protecting homes with first-rate Homeowners Insurance for more than a century. Get in touch with us to ensure that your home will remain your haven for as long as you live in it. We have the skills and experience to provide you with the best insurance policies available. Contact us today to get the Right Insurance Coverage, at the Right Price with Superior Client Service. That’s the heart of Blue Lion Strong™.