Cost-saving Tips for Insuring Your Jersey Shore Home or Investment Property

As every homeowner knows, property insurance is a necessity. This is especially true at the Jersey Shore, where many homes border the Atlantic Ocean. The cost of adequate insurance may seem daunting initially, but there are certain steps you can take to reduce your costs to a reasonable level.

1. Shop around for the best value. Check online for quotes from at least three reputable agencies. Be aware that some companies offer a discount of 30% to 40% if you buy online. Other possible discounts can result from insuring both the home and the contents or by insuring your home and your car with the same firm.

Also know the replacement value of your home, taking into consideration any unique features that will be expensive to replace. Keep in mind probable inflation increases at renewal time. Does your insurer automatically adjust your coverage or do you have to request the change?

2. Make periodic updates to your Jersey Shore home or property. Ways to reduce insurance costs include the following:

A) replacing the existing heating system to one which is safer and more cost-efficient.

B) keep plumbing in good working order and protect it from freezing

C) replace fuses. Inspectors are looking for circuit breakers and a safe wiring system

D) install fire detectors or even a central alarm system. Be sure to keep a record of all repairs/replacements and inform your insurance company of each one.

3. Maintain the building and grounds. Regular repainting or installing siding is essential to protecting your Jersey Shore home from moisture damage. Hire professionals to clean any chimneys and check for termites. Repair unsafe sidewalks and remove dangerous tree roots. Again, keep your insurance company current on your efforts to eliminate hazards.

4. Consider tenant-based liabilities. The type of dog you allow on your property influences your insurance rate, as does permitting smoking on the premises. You may also want to specify acceptable locations for outdoor grill use and make renters aware of their responsibility to cover damages caused by them and the need for renters’ insurance.

By following these tips and consulting with your insurance representative, you should be able to lower your premium, avoid cancellation, and stay off the industry’s “bad list.” Also think about raising your deductible amount and avoid making too many small claims to keep your premium costs down.

Learn more about Jersey Shore home ownership.

Search all Jersey Shore homes for sale.


About Patrick Parker Realty

Patrick Parker Realty, an independent boutique brokerage located in the heart of Bradley Beach is your local market leader. We understand the demands of a changing real estate market and avail ourselves of the latest industry information and tools to ensure excellent results. Our Commitment to You Our seasoned Real Estate Agents are committed to providing all of our clients, from first time sellers to veteran real estate investors, quality and friendly service. We walk you through every step of the sale process offering the guidance, feedback, and expertise needed to ensure your complete satisfaction.
This entry was posted in bradley beach real estate, Buyers, jersey shore real estate, Real Estate News, Sellers and tagged , . Bookmark the permalink.

One Response to Cost-saving Tips for Insuring Your Jersey Shore Home or Investment Property

  1. Eddy says:

    Great information you have here. I’m looking for any other insurance info, especially homeowner insurance. Keep on posting !

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