Whether you’re thinking of purchasing a coastal getaway or you already own a secondary home, condo, or piece of land by the sea, you’re probably aware of the unique challenges shore property insurance presents. Luckily, the help of Muller Insurance can go a long way. Here, we provide an overview of shore property insurance and explain what to consider when exploring your coverage options.
What Is Shore Property Insurance?
When you own a home or other property within a certain distance from a coastline, the insurance policy you will need is a bit different from standard homeowners insurance. Shore property insurance accounts for the differences between inland and coastal environments. It is more common, for example, for a home located on the shore to experience damage due to a tropical storm or hurricane than one located farther inland.
Finding the right policy will mean getting the right balance of coverage – at the right cost – for your situation. Plus, in certain cases, you may be required to get certain types of additional coverage, such as flood insurance, in order to maintain your mortgage. All of these considerations can be sorted out with the help of Muller Insurance.
Knowing if You Require Shore Property Insurance
Your proximity to the coast plays a role in deciding whether your property is considered coastal or not. If you are located 10 miles from the shore, for example, you likely could have a standard homeowners insurance policy, but you may regret not investing in additional coverage should your area gets hit by a hurricane. Meanwhile, for owners of properties positioned just miles away from the shore, it’s always wise to invest in a customized shore policy – especially in flood-prone areas.
Navigating this can seem challenging, but the key is to be aware of how your insurance company classes your policy and knowing what coverage you have. Then, it’s smart to make sure you have enough additional coverage since coastal property insurance won’t cover things like damage due to flooding or earthquakes.
Learn More About Insuring Your Shore Property
If you’re looking into insuring your shore property, we highly recommend you speak with an insurance professional to learn the ins-and-outs of these policies and figure out how much coverage you need. A professional can advise whether you should get additional coverage, too.
No matter where your property is or what kind of coverage you need, Muller Insurance is your go-to for shore property insurance. Operating throughout Atlantic, Cape May, Monmouth, and Ocean Counties in New Jersey, as well as in New York, Connecticut, Pennsylvania, and other states, Muller Insurance can help guide you through the world of coastal insurance and get you the policy you need within your target budget. Contact Muller Insurance learn more about shore insurance policies or request a quote today.