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Testimonials |
| "We were extremely impressed by your dedication and attention to detail. You truly made the stressful process of buying a home as painless as possible."
Michael and Patricia C. - Summit, NJ
"I really can't begin to tell you how much I appreciated all of your support and hard work through the house buying process. You were our tireless advocate - working on our behalf with competency, knowledge and compassion." Heather F. - New Providence, NJ
"As a first time homebuyer, I was extremely apprehensive about buying a home. Your patience and guidance through the process from dealing with mortgage reps, to finding a terrific home inspector to finding just the right community for me was truly priceless. Thank you for helping me achieve my dream of owning my own home!" Karen P. - Basking Ridge, NJ
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Buying Summit NJ Real Estate?
Homeowners Insurance Is Essential!
If you're in the process of buying a Summit NJ real estate property, the chances are good you're also in the market for homeowner's insurance. Most mortgage companies and banks require that you have homeowner's insurance on any Summit NJ real estate property before they'll even finalize the loan, but the shopping process can be a little overwhelming. This guide may help.
Types of Homeowner's Insurance
Just as there are a few different kinds of auto and life insurance, there are a number of different kinds of homeowner's insurance as well.
A standard homeowner's policy offers you coverage in the case of a fire or a break-in. It also covers you from a liability standpoint. Most policies not only cover damage to the home itself, they also offer compensation for items in the home like computers, furniture, and even your eighties toy collection.
A flood insurance policy is almost always required if you live in an area prone to flooding or other weather problems. In most cases it is issued by the government, and your Summit NJ real estate agent can let you know if it will be required on your property.
A title insurance policy offers protection in case your claim to the property is found to be null. It not only protects the full amount of the mortgage as you pay into it, it also protects your downpayment.
Home warranties are another type of insurance policy, and they tend to only be available on new buildings. They're designed to protect you against serious defects for the first few years that you own the home.
Keep in mind as you begin to decide which kinds of coverage you need that different companies offer different protections, and virtually every company comes with its own deductibles and plan maximums.
Choosing the Right Insurance
As you try to pick the right insurance for you, talk first with your mortgage company. Certain insurance policies will be required before you can finalize the agreement, and once you know what you need in that arena, you can begin make personal decisions about the types of coverage you want.
No matter what type of coverage you finally decide to purchase, it's important that you shop around to get the best rate possible. Decide how much coverage you need, then talk with a variety of providers about cost-effective solutions. As you interview potential providers, they will be looking at your credit history as well as your insurance background. If you recently filed a homeowners insurance claim, you're far more likely to be quoted at a higher rate or even denied coverage. Talk with friends and family about the best insurance companies to use, and don't forget to read consumer comments, postings, and bulletin boards online to help make your homeowner's insurance choice a bit more user friendly.
Buying Summit NJ real estate can be an overwhelming experience, and finding the right insurance provider is tough. A little hard work and research on your part, though, will lead you to the perfect Summit NJ real estate insurance company for years to come.
Summit NJ Community Info
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About Burgdorff
Founded in 1958, Burgdorff ERA is the top producing ERA real estate firm in dollar volume nationally, with 16 offices and over 700 sales associates in New Jersey. The ERA real estate network includes 2,500 independently owned and operated offices in the United States and in 30 countries.
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