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Homeowners Insurance

Homeowners Insurance

 High Value Homes  Coastal Homes Condos and Co-ops Why Choose KJE Insurance

Your home is the center of your daily life, and likely your most valuable asset. When your home is damaged or destroyed, you need your claim settled by an insurance company that understands this simple fact. Depending on where you live – New York, New Jersey, and Connecticut – the right home insurance policy can provide you with peace of mind as well as the money you need to repair or replace your home and/or belongings.

High-Value Homes Need Guaranteed Replacement Cost Home Insurance

High Value HouseWhen obtaining insurance for your unique high-value home, we suggest guaranteed replacement cost coverage. Most standard home insurance carriers do not offer this option. It is only available from carriers specializing in insuring unique and custom homes. It is standard practice of most insurance carriers to insure your home at replacement cost, and for most homes, this is suitable. When obtaining insurance for your unique luxury home, guaranteed replacement cost coverage is designed to better protect your home investment.

Your mortgage requires you to insure your loan’s value, but it may cost significantly more to rebuild your home in the event of a loss. Things such as quality of construction, size, and location should be considered when determining proper replacement cost, not just the value of the loan.

Most homeowners insurance policies insure your home and its contents for replacement cost, but what does that mean? The insurance carrier will pay to replace your home at the current cost of construction. Guaranteed replacement cost means the insurer will guarantee to replace your home with the same kind and quality of construction – even if that cost exceeds the insurance limits.

For example, if you paid $100,000 to renovate your kitchen 10 years ago, it may cost $150,000 to do that same renovation today. In the event of a covered loss, the insurance carrier will pay you the $125,000 and not figure any depreciation since your cabinets and appliances were 10 years old. If you have to replace hand-selected Carrera marble in your kitchen, the carrier will pay to replace it with the same quality materials. Standard home insurance policies do not.

Coastal Home Insurance

House on the coastObtaining insurance in coastal and waterfront locations like the Hamptons, Long Island, and the Jersey Shore can be challenging for homeowners, whether it is for a new purchase or your existing home. When buying a new home, the process can be overwhelming. Finding the right house, negotiating a fair price, scheduling the inspection and completing the mortgage process can be daunting.

Finally, the deal is complete, mortgage is approved, and the closing has been scheduled. Then, the mortgage broker asks, “Please send us your certificate of insurance so we can close.” At this point, most people jump to the internet or call one of the big-name insurance carriers to get the quickest and least expensive home insurance quote. This will get you a policy to satisfy the mortgage requirements, but it may not be the best way to protect your new asset.


When you buy homeowners insurance, here is what you should consider beyond your mortgage requirements:


    • Valuable Articles: Typical home insurance provides minimal coverage for high value possessions, such as watches, silverware, antiques, jewelry, or artwork. Most homeowners policies have a limit for lost or stolen jewelry. We can review your current coverage and determine if a valuable articles policy would give you better protection than your homeowners policy.
    • Personal Liability: Only minimal liability limits are required by the mortgage. Lawsuits are common and not having enough liability protection leaves you exposed to financial responsibility if you are sued. Your liability limits should not just meet the requirement of the mortgage but be determined by the value of the home and any other assets that you may have.
    • Personal Property: Also known as contents coverage, this provides protection for all possessions. If you have expensive furniture, clothing and electronics, then we can provide coverage based on the value of all of your items.
    • Flood Zones: If you live in a flood-prone area, flood insurance will be required by your lender in addition to your home insurance policy. We can tell you investing in more comprehensive coverage is less expensive over time.
    • Security Systems:  Security measures such as alarm systems lower the risk for you and your insurer, and can lower your premiums.
    • Auto Insurance Review: Your biggest exposure to a lawsuit comes from owning a car. When purchasing a new home, you should review your auto insurance to ensure you have proper auto liability limits. Unfortunately, a lawsuit from an auto accident can result in a lien on your home, so you want to make sure you have appropriate auto insurance.



Condominium, Condo Association & Townhouse Insurance

CondoCondo owners have a stake in the control and management of both their unit and the building or buildings managed by the condo association. However, with that power comes responsibility, particularly when in matters concerning liability. Make sure you get the right protection, and know which parts of the condo are your responsibility to insure.

Condo associations generally have insurance policies that cover the property of the common areas, outdoor areas and the exterior walls of the condominium buildings. In addition, their general liability policies generally cover injuries obtained by non-residents in these common and outdoor areas. But the interior walls and inside of each condo unit is the responsibility of the unit owner. A property insurance policy for your condo will cover the interior walls, appliances, floors and, if designed properly, the personal contents within the walls of your home when damage occurs due to a covered hazard such as fire, theft, vandalism or hurricane. If the condominium is located in a flood zone, then flood insurance should also be secured since the condo association’s policy won’t cover your personal losses due to flood, and standard condo insurance policies don’t generally cover that damage.

Condo owners should also consider general liability insurance for their units. While the association policy should cover injuries that occur in common areas or outside the condo unit, anything that happens inside is the responsibility of the unit owner. While a general liability insurance policy may be enough for some, others might consider the higher limits of an umbrella policy for extra protection that also extends to their automobile.

When discussing condo insurance, it’s also important to note the major differences between condo and townhouse insurance. With townhouse ownership, the unit owners are expected to secure insurance that also covers the exterior walls, patios and balconies, and certain outside areas. Therefore, townhouse and condo insurance are not interchangeable, so be sure to find out which type of home you own so you know for certain which type of policy you need. When in doubt, ask the association to see the master policy so that you can find out exactly what’s covered by it — and what isn’t.


Why Choose KJE Insurance?

Your home is unique, and your insurance should be too. The agents at KJE Insurance will help you determine what type of coverage is best for your home.

KJE Insurance can help you find the homeowners insurance that will best meet your needs and provide the most valuable combination of tailored coverage, quality service, and fair pricing. As an independent agency, we work for you, not the insurance company. We use our relationship with multiple carriers to get you the best policy, and make sure your homeowners insurance cost is affordable. Our agents know the homeowners insurance carriers serving the New York, New Jersey, and Connecticut marketplace.

We learn about you and your home. We then guide you through the insurance process to find the homeowners policy that is right for you. Whether you are buying your first home, a secondary vacation property, or purchasing as an investment, we explain the ins-and-outs of homeowners insurance coverage, including coastal insurance and luxury home insurance coverage.

The one-size-fits-all approach to insurance doesn’t work with homes in coastal locations. This is why KJE Insurance has specialized programs for homeowners in the coastal locations of New York and New Jersey. Our goal is to protect your investment at a reasonable price. Traditional insurance companies may not be available to insure your home. Many coastal homeowners have found that the insurers they have been with for years are no longer willing to renew their policies. Because we are an independent Insurance agency, KJE has relationships with several carriers with coverage specifically designed for the challenges living near the water presents.

Whether you are purchasing a new home, a multimillion-dollar home, have a secondary vacation property, or seasonal rental, KJE will work with you to provide a comprehensive protection plan that is suited for your specific needs.

Contact us to for a homeowners quote today. Or, let’s schedule a call via Calendly.

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