Home » It Beach Season ! Insuring your shore Home properly
June 14, 2020

It Beach Season ! Insuring your shore Home properly


Contact: Amanda Edmunds
& E Insurance Agency


[email protected]

June 13, 2020

Point Pleasant NJ 

Getting the Best Coverage for your Home On or near the Beach and the NJ Shore.


The Sun is out the the Chinese Virus is whining down -we are getting out of our Houses, Optimism is starting to rip across the country.

The Stage is ready for the Summer of 2020. Here on the Jersey Shore, business owners and Homeowners alike are looking for a different summer than most years. The virus and the protesting and rioting throughout the country are creating challenges for everyone, but as property and home owners there are matters you still need to take into consideration,  Just four years ago the optimism being generated by a possible election of Donald J. Trump and his described policies of less government and Pro business attitudes had Wall Street’s recognition that this approach would stop and Replace the socialism that percolated  in the prior 8 years. But Now even though the last 3 1/2 year of his presidency proved that his agenda lead to historic growth and employment for all Americans, the last 3 month of the Chinese Virus and protesting concerns over police brutality are leading many in the media to forecast Democratic takeovers of  Government and more socialistic philosophies influencing our economic social and cultural existence. This writer doesn’t subscribe to this will lead to more employment and more investment by companies across the board, thereby pumping the economy with more income and more tax receipts. The Wall Street response of an impressive Rally marching towards 30,000 again on the Dow with some analysts predicting even higher moves above 30,000 once the economy is back and the virus has a treatment.  This bull market is a welcomed relief from the huge pull back after the country was closed and over 28 million people became unemployed and the prior slow growth years of the  prior administration, as the only people that seemed to do well were the already rich who got richer from the increase in LOW Interest rate enviroment fueling . financial assets returns , and the very poor given federal assistance. The average tax paying JOE has seen significant improvements under President Trump and should see those improvements continue with his re election. As the economy gets back to work, the summer of 2020 will be different but because people are staying close to home, it may turn out top 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 deductible 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 Business on the NJ Shore without the massive deductibles.

So if you need a NJ Homeowners Insurance estimate or a review of Your current home or 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 details call  the Trusted Choice Professionals at I & E Insurance Agency, allow us to Help you.

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