Category: Home Insurance

The worst situation you could imagine for your home has impacted you: an unsafe driver just ran into your home. This frustrating scenario is one we have experienced at Rock Insurance Agency Inc. Thankfully, we can help Medford, NJ residents in this tough spot.

What Happens When Someone Hits Your Home With a Car

When someone hits your home with their car, they are obviously considered liable for the accident. As a result, their auto insurance policy will pay for the damages to your home up to the limit of their policy. This situation may be beneficial as you could get away without having to use your policy. 

However, situations regularly occur in which you’ll likely need to use your home insurance policy. For example, what happens if a person’s auto insurance covers $20,000 in damage, and you experience $30,000? You’re either stuck with the bill, or you have to make a claim on your auto insurance. 

In this situation, your home insurance will pay whatever is left over, up to your policy limits. So if the person who caused the accident pays $25,000 out of a $60,000 repair bill, your home insurance will pay for the remaining $35,000, depending on your policy limits. 

If your policy limit does not cover the full repairs, your insurance will pay out what it can, and you’ll have to pay for the rest. In areas near heavy traffic (such as homes near freeway exits), it isn’t a bad idea to consider expanding your limits to ensure you don’t get in a bad situation.

Don’t Hesitate to Make a Claim 

If you have a home insurance policy with us at Rock Insurance Agency Inc., please contact us if your home gets hit by a car. We can also help Medford, NJ residents get a policy that works for their needs if they are not covered adequately. 

Homeownership is one of the greatest accomplishments life can offer; it’s the reward for years of saving, hard work, and sacrifice. Your home should be treated as your most prized possession and protected in the same regard. 

Are you looking for advice and recommendations on how to protect your home and your valuable belongings with home insurance in Medford, NJ? Rock Insurance Agency Inc has a team of experts that are available to guide you throughout the process and can help you build a homeowners insurance plan that will protect all your valuables. 

While most mortgage lenders require you to have home insurance, the necessity goes far beyond that. Purchasing and maintaining this type of insurance policy protects your home and your personal property. It also limits homeowners’ liability should someone become injured while on their property. 

The amount of home insurance coverage you need depends on the value of your property. This type of insurance policy could very well be your smartest investment decision, and the team at Rock Insurance Agency Inc in Medford, NJ is here to serve you as best we can. Selecting home insurance plans can be overwhelming, and we’re here to help alleviate any stress involved. Be sure to contact us if you have questions and we can set up an appointment to discuss your options. 

If you own a home in Medford, NJ, homeowners insurance is essential to protect yourself and your family. Families can often have a large amount of valuable personal property (the contents and belongings in the home that are owned by you and the family members living with you), so ensuring this property, along with the home, is the best way to protect yourself financially.

When you purchase home insurance for your Medford, NJ home, you expect to be adequately covered against any eventuality. However, this might not be the case where you are underinsured. The good news is that instead of finding that you are inadequately covered when it’s too late, Rock Insurance Agency Inc. is here to guide you on steps you can take to minimize the risk of being underinsured.

Properly value your home.

Best practice says that you are underinsured if your home insurance doesn’t cover at least 80% of your home and contents’ value. Being underinsured means paying for premiums that won’t cover your loss or damage when the unexpected strikes. But how can you mitigate the risk of underinsurance? Here are some tips:

• Keep stock of your assets: Gradual accumulation of assets without updating your home insurance plan can result in underinsurance. You can avert this pitfall by periodically conducting a room-to-room inventory count to determine assets that aren’t included in your insurance plan.
• Updating your home insurance after renovations: Are you faced with a dilemma to include or exclude a recent renovation in your home insurance plan? To answer this, ask yourself if you would comfortably repair the renovation out-of-pocket if a disaster were to strike. If the answer is no, then you need to update your home insurance plan with renovations like adding a room, upgrading the kitchen, and so forth.
• Consider local construction costs: Building costs increase every year. Inflation and new regulations to be complied with can lead to an increase in building materials costs. In light of this, you need to update your home insurance with these changes to ensure you get total compensation if your house was to be rebuilt today.

Consider how you use your house and who is in it?

Do you have a dog that can bite in your house? Do you throw parties leading to intoxicated guests? Figure out triggers that can lead to property damage or bodily injury to other people. This way, you can adjust your liability coverage upwards to cover you optimally. 

Home insurance in New Jersey

Insufficient home insurance means you will have to incur out-of-pocket expenses when disaster strikes. If you would like to know if you have enough home insurance, please talk to Rock Insurance Agency Inc. for more information.

Homeowners insurance can be a complicated matter. You don’t always know what type of policy and what level of coverage you need. That’s why it’s a good idea to assist an expert agent who knows the in’s and out’s of home insurance. An independent agent at Rock Insurance Agency Inc. of the Medford, NJ area can help you with this process.

Everyone Should Have Home Insurance

Many mortgage lenders require that you have homeowners insurance. Even if yours doesn’t, it’s still in your best interest to have this in place. It will protect not only your property but also offers at least some coverage for your valuable items.

The Amount of Coverage Varies

You’ll need to know your property’s value to determine the amount you should have in insurance coverage. You won’t have to pay as much out-of-pocket if your insurance is set at a higher coverage level.

Property Value Is Calculated Differently

There are different methods of calculating property value. This includes market value and replacement value. Market value is the amount at which your house is likely to sell, and replacement cost is how much it would cost to rebuild the house.

More Than Property Damage

Home insurance policies not only cover repairs after your home has been damaged due to tornadoes, fires, and other major events. It also covers incidents such as if there’s been a theft and if someone’s been injured on your property, you can get the coverage that would apply towards their medical payments.

Annual Reviews Are a Must

It’s ideal to have your agent review your policy and needs every year. This way, you know you’re getting the right amount of coverage for your changing situation.

At Rock Insurance Agency Inc., we’re proud to set up home insurance for residents in the Medford, NJ area. Contact us today with your questions and to get started.

Home insurance is what lets homeowners sleep at night. It protects the place you and your family enjoy your lives. If you already have a home insurance policy, have you ever read it? If, like most people, you haven’t, don’t feel bad. It would be enough to put you to sleep. But it does include some vital information about the things excluded from the policy. At Rock Insurance Agency Inc. in Medford, NJ, we make sure our customers have all the facts about their home insurance policy. 

Floods

Probably the most shocking news to most homeowners is their policy does not cover flooding. Flooding causes devastating damage, and even just one inch of water in the home can cost you $25,000 in damages. The good news is you can purchase flood insurance through the NFIP.  

Earth movement

If you feel the earth moves under your feet, you should be anxious because your home insurance will not cover it. Whether it is an earthquake, landslide, or a sinkhole, any time the earth moves, it is excluded, but you can buy an endorsement or an additional policy to cover it.

Sewer backup

This is a disgusting thing to even think of and even more so when you have to pay for the cleanup yourself. Again, you can add an endorsement. 

Preventable damage

Your insurance carrier assumes you are going to maintain your home. If you allow your roof to become so old that it allows water to damage your ceiling, your insurance won’t cover it. If you get termite damage, this is something treatment could have prevented, so no coverage is standard. This is an excellent reason to do the necessary repairs and maintenance to your home.  

When you’re ready to update your home insurance, give Rock Insurance Agency Inc. in Medford, NJ a call or stop by our office to get your free quote. 

As a homeowner, your homeowners’ insurance policy is one of the most critical protections one can invest in. It is crucial to understand the coverages provided under the policy. However, it just as important to understand the types of events excluded under the policy. 

Floods 

It is critical that homeowners in the Tri-State area know that flood insurance is not automatically covered under a home insurance policy. So many homeowners assume that flood coverage is included because their policy has water damage coverage. Water damage coverage is meant for events such as a burst pipe or an overflowing dishwasher. Flood coverage needs to be purchased as a separate policy from the government. 

Damage as a result of homeowners’ failure to maintain the home. 

As a homeowner, it is critical that you perform regular maintenance on your home. Failure to properly maintain the house could result in the denial of coverage in the event of a claim.  If it is determined that the damage to your home is the result of your failure to maintain the home, such as not having your water heater regularly serviced, you could be denied coverage. 

Dog bites

Many homeowner insurance policies exclude coverage for aggressive breeds such as Pitbulls. However, some carriers exclude coverage for dog bites altogether. It is essential to check with your insurance agent at Rock Insurance Agency, Inc. in Medford, NJ to confirm your level of coverage. If you have a dog, you may want to consider an umbrella policy for extra protection. 

Jewelry

If you own an expensive jewelry collection, it is important to know it may not be fully insured under your policy. While there may be a small limit under your policy, it will most likely not be enough coverage in the event your collection is stolen. If you have expensive jewelry, you will want to speak to your agent about adding additional coverage. 

If you live in the Tri-state area and would like to learn more about homeowners’ insurance, reach out to a specialist at the Rock Insurance Agency, Inc. in Medford, NJ today.