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December 13, 2016

Getting the Correct coverage for Your NJ Beach Home


Contact: Amanda Edwards
I & E Insurance Agency

732-295-5584  [email protected]


(Point Pleasant, NJ – Dec. 13, 2016)   How to Seek out the Best Insurance for your Home On the Beach and near the NJ Shore.

The Holidays are upon us, the election is behind and a sese of optimism is starting to rip across the country. What a stage for the Summer 2017 Beach Season.  Here on the Jersey Shore, business owners and
Homeowners alike are looking for to a better summer than any time in the last 8 years. Fueling that optimism has been the election of Donald J. Trump and his decribed policies of less goverment and pro business Attitude Wall Street’s recognition that Pro Business and Pro Growth Philosophies are starting to replace the socialism slaight  will lead to more employment and more investment by companies across the board, thereby pumping the economy with more income and more tax recipets. The
Wall Street reponce of an impressive Rally marching towards 20,000 on the Dow with some anaysts predicting a 50% move to 30,000 on the DOW in a few years. This bull market will be a welcome releif from the last 8 years that have been treadfull with a stagnant economy of 97 million out of work, 47 million people on food stamps, and a Stock market primed with financial enginering of historically low interest rates that casted a gloom over everything else. The only people that seemed to do well were the already rich who got richer from the increase in the LOW Interest rate fueled Stock market an the very poor who were given federal assistance. The average tax paying JOE has seen nothing and has struggled to pay his bills, But 2017 should be different and may be one of the best rental seasons and home buying markets of the last 30 years.

Better economy coming aside, Is the Home Insurance for a property on the beach and near our NJ waterways is it the same as Home insurance elsewhere in NJ?

The simple answer is yes and NO. In NJ there are two types of Insurance companies, those who contribute to the NJ State Insurance Reserve, (we call them the admitted carriers) and those who do not, (Non Admitted or Surplus Lines Companies)

The issue for Our NJ waterways Coastal Insurance and Beach Front Insurance is availability and Deductibles. Most Admitted Companies in NJ have a 2-5 mile exclusion, meaning if your home is on a barrier island, chances are the Admitted carriers will not insure your property  or if they do, they will have a 1-5% Hurricane deductible and some can have a standard $2500 All perils deductible and a large Wind deductible.  Here’s an example. Say you’re looking to Buy a $600,000  Lavallette Beach NJ Home Insurance policy for a vacation/rental home that you are looking at. First off, many of the admitted carriers will not insure a secondary rental homes, next they do not offer a standard $1000 deductiible for all perils, they may offer coverage with a 1-5% deductible thus a 5% hurricane deductible on that $600,000 home could be as much as $30,000 out of your pocket before the Insurance company pays any penny of a claim. And you need to read the fine print on every policy. Just recently as yesterday we viewed a Admitted policy that not only had a 2% hurricane deductible, but also had a $2500 all perils deductible and a $10,000 deductible for everyday Wind.  This is why you need a Trusted Choice Insurance Agent like I & E Insurance Agency, we constantly looking for new and better companies that can insure you Home or Buiness on the NJ Shore without the massive dedcutibles.
So if you need a NJ Homeowners Insurance estimate call us. If you want a review of Your Coastal Business Insurance Call us 732-295-5584.

A few facts to look for on Your Coastal Home and Business Insurance Policy.

#1     What is your Hurricane Deductible?
#2     Do you have an Admitted Carrier or a Surplus Lines Company?
#3     Do you have mold, fungi and bacteria coverage?
#4     Does your company have a customer service Department?
#5     How many square feet is your home and What price per square foot is your home or Business valued at?

There are many considerations that need to be addressed on any home or business but especially those located near Our Bays, Rivers and Coastline, for a more detailed dicussion call the Trusted Choice Professionals at I & E Insurance Agency, allow us to Help you.

This web site may contain concepts that have legal, accounting and tax implications. It is not intended to provide legal, accounting or tax advice.

You may wish to consult a competent attorney, tax advisor, accountant, or your own financial advisor. EMC Insurance Agency & Financial Services LLC dba I & E Insurance Agency & Financial Services is an Independent Insurance Agency, a Member of the Trusted Choice, Independent Agents of America & PIA contact your own advisors before making any financial decision. Services offered through independent NON-AFFILIATED ENTITIES

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