Earlier this week New Jersey introduced a bill to make it easier for residents to understand what their NJ homeowners insurance policy covers
and does not cover.
The proposed bill, would require insurers to give
policyholders a clear, simple, and understandable one-page summary of the NJ homeowners policy explaining notable
coverages and exclusions under the policy.
For New Jersey homeowners the one-page summary will be added into the NJ
homeowners insurance consumer information brochure when the their policy is purchased or renewed. The homeowners insurance consumer information brochure contains
information that explains the insurer’s hurricane deductible program, if
any, as well as information on the National Flood Insurance Program.
It’s about time a bill was introduced that would help clear up some confusions NJ homeowners report – especially after Superstorm Sandy. At our agency alone we received many calls from homeowners who were
surprised, and frustrated to find out about some of the exclusions when they filed Sandy
claims. Hopefully this bill will make will allow NJ homeowners to “read the fine print” a little more clearly.
For Insurance in New Jersey, American Insurance Services Agency is
your Insurance Agent of choice. We offer affordable NJ auto, business
and home insurance coverage and policies.Contact us today online or by calling (732) 680-4444