If you are the proud owner of a home—congratulations! Now that you’ve found the home of your dreams and the loan papers are signed, it’s time to find a homeowners’ insurance policy. Muller Insurance, based in Hoboken, New Jersey, works with many insurance companies in more than 25 states. We will work with you to find the best policy with the coverage you need.
Here, we explain the basics of house insurance.
What Is Homeowners Insurance?
Owning a home is one of the largest investments a person can make in their life. And home insurance can help protect your home and the belongings in it. Different homeowners’ insurance policies cover different incidents and hazards, so make sure you read the fine print to understand what is and isn’t covered by your policy.
Since Muller Insurance is an independent agency that works with multiple insurance companies, we can help you find a policy that meets your specific coverage needs and has an affordable premium.
What Does Homeowners’ Insurance Cover?
While each home insurance policy is different, most insurance policies will cover the following hazards or perils:
- Fire
- Water damage
- Vandalism
- Theft
- Weather-related damage
If any of these incidents happen while you are covered by a homeowners insurance policy, the insurance company will be responsible for helping replace any lost possessions or fixing the damage done to the home.
There are additional insurance policies available for aspects like:
Contact an insurance agent at Muller Insurance who can walk you through all your options when it comes to homeowners’ insurance policies.
What Is Not Covered by a Homeowners’ Insurance Policy?
While there are a lot of aspects a homeowners’ insurance policy will cover, there are some things that aren’t covered by an insurance policy. Those include:
- Drain and sewer backups
- Earthquakes
- Flooding from external sources, like storm surges or heavy rainfall
- Government action, including war
- Infestations by animals of any kind, as well as fungus and mold
- Landslides
- Nuclear hazards
- Power failure
Not all home insurance policies are the same, meaning basic homeowners’ insurance policies will not cover all aspects of your home. For example, homeowners must purchase separate coverage for events like sinkhole damage. Make sure you discuss your policy needs with your Muller Insurance agent.
How Is an Insurance Premium Determined?
An insurance premium is the amount a person pays to the insurance company to keep their policy active. Depending on what insurance company you have, you could have to pay your premium:
- Monthly
- Quarterly
- Biannually
- Annually
Factors that can determine what you pay on your home insurance may include:
- Age and condition of the home
- Coverage limits
- Deductible amounts
- Local fire protection
- Optional coverages
- Personal claims history
- Personal credit rating
- Type of home construction
Some homeowners’ insurance policies will offer discounts for safety measures like deadbolt locks and security or fire alarms. Some insurance companies may also offer discounts for insurance bundling. If you are interested in learning about insurance bundling, ask your Muller Insurance agent about potential savings.
Choose an Independent Insurance Agent to Find Coverage
Muller Insurance is an independent insurance agency. That means we don’t just work with one insurance company. We work with more than two dozen insurance companies. That allows us to find the coverage you need at a price that you can afford.
Some of the companies that Muller Insurance works with for homeowners’ insurance policies include:
- The Andover Companies (including Bay State, Merrimack, and Cambridge Mutual)
- Chubb Insurance (including Federal, Great Northern, and Vigilant)
- Cumberland Insurance
- Farmers
- Fidelity National
- FMI (Franklin Mutual)
- Foremost
- Lemonade
- Narragansett Bay Insurance
- National General
- N&D (Norfolk and Dedham) (Fitchburg)
- Philadelphia Contributionship
- Plymouth Rock Insurance
- Progressive
- Stillwater
- Travelers Insurance
If you are a homeowner with multiple insurance policies, ask us about bundling! Some insurance companies will create bundles of policies, offering discounts for purchasing two or more types of policies from the same company. Consider bundling your home and auto insurance to save on your premiums.
Don’t let one disaster destroy your home. Protect your dwelling with a home insurance policy from a local insurance company in Hoboken, New Jersey. We are licensed in over 25 states and offer multiple types of insurance policies for both businesses and individuals. Contact us today for more information or to get a quote.
