Elizabeth Homeowners Insurance

Your Complete Guide to Homeowners Insurance in Elizabeth, NJ

Find the right homeowners insurance policy for you.

Elizabeth, the fourth largest city in NJ by population, was one of America’s 50 greenest cities, according to Popular Science magazine. An old colonial town retaining a lot of character and cultural history, Elizabeth provides an appealing and attractive backdrop to NJ life. As with all urban areas, however, an unfortunate element goes with the territory. Elizabeth’s property crime rate is more than double the NJ average and about 25 percent higher than the national average. This statistic makes it imperative that you have Elizabeth homeowners insurance.

Cost of Homeowners Insurance in New Jersey

  • National yearly premium average: $1,034
  • New Jersey yearly premium average: $981
  • 21st most expensive premium in the US

Number of Catastrophes in New Jersey and the US

  • National number of catastrophes: 19,033
  • Number of catastrophes in New Jersey: 60
  • National number of tornadoes: 1,233
  • Number of tornadoes in New Jersey: 0
  • National property damage from weather: $5,511,270,000
  • Property damage from the weather in New Jersey: $13,780,000
  • 1 in 15 homes has a claim each year, nationally.

Number of Thefts in New Jersey

  • National number for burglaries: 37,814
  • New Jersey number of burglaries: 35,873

Elizabeth Homeowners Insurance Options

Standard policies include common coverage types such as these:

  • Building property coverage: Pays to repair the structure of your home and other structures like garages and fences after a disaster
  • Home contents coverage: Pays to replace your stolen or damage clothes, furniture, and electronics
  • Liability insurance: Pays medical expenses and court costs for bodily injury and property damage claims if you are at fault or someone sues you due to injury or property damage while they are on your premises
  • Relocation assistance or "loss of use": Provides temporary lodging if the home is rendered uninhabitable because of a covered incident

While home insurance is not a legal requirement, not having it puts you at great financial risk. Consider the cost of replacing your home if it burned down or replacing the contents if your home were flooded. There is also the possibility of medical bills, compensation and legal costs if you become liable for harm or damage to someone else or their property. Elizabeth home insurance can help protect you from these sorts of liabilities and many others.

There are many factors in determining and buying home insurance. Your ZIP code, type and value of your home are obvious ones. But the value and type of your contents are also important. In addition, you may have other elements that you want to include or exclude from your policy.

Don't Forget About Coverage Against Natural Disasters

A typical Elizabeth homeowners insurance policy will cover fire damage, burglary, and personal liability, but it generally won’t cover flood or earthquake damage. As a state, NJ is quite prone to flooding, being largely a coastal area and having a high proportion of water within its city boundaries. Elizabeth itself is nearly 9 percent water in-area. 

Hurricane Sandy and its aftermath are still fresh in the minds of most NJ residents. Nothing can stop a force of nature when it happens, but home insurance can at least help you make sure that the consequences are not more disastrous than they need to be. The peace of mind of knowing you have insurance against flood damage might be important to you, so you need to consider that as an issue in your insurance requirement.

Times Have Changed

Times change and so do your needs and circumstances. What you need and have now might not be anything like what they were when you first moved into your current home, furnished it and made it the place where you’re comfortable and safe. Let an agent get you the quotes you need and help you make sure you protect your cherished belongings.

Contact your insurance agent today so you can be comfortable with the knowledge that you are protected and safe in case the unexpected happens.

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