Sanford Insurance in NJ offers different types of insurance to local families, including home owners insurance and auto insurance. Here is why you need both in New Jersey, regardless of where you get it from.
Is homeowners insurance mandatory?
No, you don't have to get homeowners insurance NJ does not require it, but the bank may enforce it if you pay a mortgage.
What does homeowners insurance cover?
Basic insurance covers common home atrocities such as smoke, fire, flood, etc. In order to cover all bases though, you may want to consider options such as liability insurance in case a visitor gets injured in your home. Beginning in June 2015, it will be mandatory for insurers to give people a one page summary detailing their NJ classic car insurance coverage.
Is auto insurance mandatory?
Auto insurance is mandatory by law for anyone who drives a vehicle.
What does NJ auto insurance cover?
Like the home owner's insurance, there are different levels of car insurance. In New Jersey, the minimum of basic car insurance is mandatory. Basic insurance will cover another person's car damage if you have damaged their car in an accident.
Difference between standard and basic auto insurance
Obviously more is covered with standard car insurance. Liability coverage for anyone hurt in an accident caused by you is only covered under standard and not basic. Standard insurance also covers you if the person who caused the accident is uninsured or underinsured. Some features, such as collision damage, can be added as a feature to basic insurance without a total upgrade to standard insurance.
What happens if you don't have car insurance?
Failure to get car insurance is illegal, and there are severe penalties if caught. The most common are fines, suspension of license, and jail. Also, you will pay out of pocket for any damage, and any victims in any accident that you cause could sue you for any damages.
How to choose the right home owner's insurance and auto insurance
Both are similar. Think about your needs. In the case of homeowners insurance, make a list of your expensive items. Do you have expenses that you need extra coverage for? In the case of auto insurance, ask questions such as "how often do I have passengers?""What is the main use of the car, and how often will I drive?"
Home owner's insurance and auto insurance are both similar in that they protect you and your property if a disaster happens. They both have varying levels of coverage, so compare the levels to see which suits your needs best.