We are a local Bergen County, NJ insurance agency, offering affordable New
Jersey homeowners insurance policy premiums to residents of the following cities
and counties: Elmwood Park, Paterson, Garfield, Saddle Brook, Clifton,
Preakness, Paramus, Bergenfield, Englewood, Teaneck, Maywood, Bogota,
Hackensack, Teterboro, Little Ferry, Moonachie, Leonia, Palisades Park, Fort Lee,
Englewood Cliffs, South Hackensack, East Rutherford, North Bergen, Ridgefield,
Secaucus, West New York, North Arlington, Kingsland, Nutley, Rutherford,
Belleville, Carlstadt, Woodridge, Lyndhurst, Wallington, Passaic, Lodi, Rochelle
Park, Bloomfield, Montclair, Great Notch, Totowa, West Paterson, Little Falls,
Verona, Cedar Grove, North Caldwell, Singar, West Orange, Fair Lawn, Glen
Rock, Hawthorne, Wayne, Haledon, River Edge, Tenafly, Cresskill, Closter,
Oradell, Emerson, Ridgewood, Midland Park, Westwood, Waldwick, Wyckoff,
Franklin Lakes, Pompton Plains, Lincoln Park, Old Tappan, Hillsdale, Oakland,
Pequannock, Lake Hiawatha, East Orange, Newark, Hudson County, Passaic
County, Essex County, and Morris County, NJ. We can also offer our
homeowners insurance coverage's throughout New Jersey.
New Jersey Homeowners Insurance
Whether you own a house, condominium or townhouse, for most people
their home is their most important investment. Abbey's Financial offers
New Jersey homeowners insurance policies that have flexibility to meet
your individual needs and above all, provide you with the security that
comes only from the knowledge that your home is safe.
Insurance for your home is one of the most popular
and important forms of personal insurance and the
typical New Jersey Homeowners Insurance policy
has two main sections:
Section I - insurance coverage for your property
Section II - personal liability coverage (to cover you
in case of lawsuits arising from things that happen
on your property)
Homeowners insurance is often required by lenders to
obtain a mortgage and nearly everyone, whether you
own or lease property, should have the protection of
homeowners insurance.
New Jersey Homeowners Insurance FAQ
Click on the link below to fill out a quote request form
for a New Jersey Homeowners Insurance policy that
will provide excellent insurance coverage at an
affordable cost. Or you can speak with our New
Jersey Homeowners Insurance agent specialist at
201-796-6303 to discuss the features.
Covered losses under a New Jersey homeowners insurance policy can be paid on either a
replacement cost basis or on an actual cash value basis. When "actual cash value" is used,
the policy owner is entitled to the depreciated value of the damaged property. Therefore, the
older the item is, the less money you may receive for it. If you choose the "replacement
cost" coverage, the New Jersey homeowners insurance policy will reinburse the amount it
costs to replace the property with something of a similar type and quality at current prices.
An "All Risks" policy provides the broadest New Jersey homeowners insurance protection
because it will cover losses that are due to any peril except those specifically excluded in
the policy. A "Named Perils" policy covers losses that are due to only those perils listed in
the standard New Jersey Homeowners Insurance policy and typically include fire, hail,
windstorm, and other physical losses.
New Jersey Homeowners Insurance Policy FAQ
If your policy limit is less than 80% of the replacement cost of your home, you will face
a "coinsurance penalty," which means you'll have out-of-pocket expenses to cover
costs beyond the policy deductible you chose. For example purposes we will assume
your home's estimated replacement value (RCV) is $100,000. The co-insurance
clause requires you carry at least $80,000 (80% of your RCV). If you chose to
purchase only a $40,000 New Jersey Homeowners Insurance policy you would be
underinsured by half. Therefore, in the example the insurance company would pay
one-half of a loss less the policy deductible, so if you suffered a $10,000 covered loss
to your house, condominium or townhouse and had a $500 deductible, your policy
would only pay $4,500.
New Jersey Homeowners Insurance Policy FAQ
Personal liability in a New Jersey homeowners insurance policy is also an important
part of having security from accidents that may occur on your property. We suggest
you choose coverage limits that are not less than those on other liability insurance
you own, such as car insurance.
Click on the link below to fill out a quote request form for a New Jersey
Homeowners Insurance policy that will provide excellent insurance coverage
at an affordable cost. Or you can speak with our New Jersey Homeowners
Insurance agent specialist at 201-796-6303 to discuss the features.
**The information, pictures, and other content in this website about particular insurance
services is only provided for informational purposes. Any decisions regarding your
insurance needs should be discussed with a licensed insurance agent.
Replacement Cost or Actual Cash Value
New Jersey Homeowners Insurance Policy FAQ
All Risks or Named Perils
Coinsurance Penalty
Personal Liability
New Jersey Homeowners Insurance Policy FAQ
ABBEY's
FINANCIAL
Home - Auto - Business
New Jersey Insurance
Answer a few questions and
we will provide you with an
insurance quote by phone or
email. Choose the New Jersey
personal or business insurance
coverage you're interested in
from the menu above.
Abbey's Financial
27 Broadway
Elmwood Park, NJ 07407
Bergen County, NJ
(201) 796-6303
Fax: (201) 796-5039
Homeowners
Insurance
New Jersey
Personal Insurance
Abbey's Financial Advisory Services, Inc.
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