Hackensack Homeowners Insurance

Your Complete Guide to Hackensack, NJ Homeowners Insurance

Find the right homeowners insurance policy for you.

The city of Hackensack, New Jersey is home to about 43,000 people. With its many housing options, diverse population, low crime rate, and easy train access into New York City, this small city has a lot to offer its residents. If you are among the proud property owners in Hackensack, a comprehensive homeowners insurance policy can protect your investment. Local independent insurance agents can help you obtain the best and most affordable coverage for your Hackensack home. Contact an insurance agent near you to start comparing customized homeowners insurance quotes.

How Much Does Homeowners Insurance Cost in Hackensack, NJ?

The average cost of home insurance in this state is slightly lower than the national average, and in Hackensack, the average rate is even lower. This is good news for Hackensack homeowners who are looking for affordable coverage.

  • National average yearly premium: $1,173
  • New Jersey average yearly premium: $1,149
  • Hackensack average yearly premium: $1,116

Of course, your actual homeowners insurance quotes are likely to be different from the average mentioned above. This is because costs are calculated individually according to several different factors, including:

  • The age, size, and value of your house
  • The materials used in your home’s construction
  • Your claims history and credit score
  • The crime rate and weather risks in your ZIP code
  • Whether you are bundling your coverage with other policies like car insurance or life insurance

Each insurance company has its own way of assessing risk and computing rates, so comparing a variety of quotes lets you choose the homeowners insurance policy that offers the best value for your money. Independent insurance agents in Hackensack make comparison shopping easy.

Homeowners Insurance Covers Your Property

Home insurance policies are designed to cover your property against most of the hazards you are likely to face as a property owner in Hackensack. This includes everything from accidental fires to major weather events. Dwelling insurance covers the structure of your home while contents insurance covers the personal belongings inside it.

  • Number of federally declared disasters in New Jersey: 51
  • Most common reasons for disasters in the state:  Severe Storms and Hurricanes
  • Average number of tornadoes per year in New Jersey: 2.0
  • Average amount of property damage per year in NJ:  $1.08 billion
  • 1 in 15 insured homes has a claim each year.

Hackensack residents are most at risk for damage caused by fires, hailstorms, and the heavy winds and rains that accompany hurricanes. Additionally, freezing temperatures in the winter can damage your home, thanks to ice dams and frozen water pipes. Fortunately, these hazards are covered by most home insurance policies. One thing homeowners insurance does not cover, however, is flood damage. In order to be covered against this risk, you will need to supplement your coverage with a flood insurance policy through the National Flood Insurance Program (NFIP). Your local insurance agent can help you secure an affordable policy.

The Importance of Liability Insurance for Hackensack Homeowners

The expense of a liability lawsuit against you can be unmanageable. In some cases, the costs associated with these kinds of lawsuits can be high enough cause you to lose your home. That is why, in addition to property coverage, homeowners insurance provides personal liability insurance as a standard part of every policy. Homeowners liability insurance is designed to cover court costs, legal defense fees, and damages if you are sued for a covered event. Some examples of times your homeowners liability coverage may be of use include:

  • If a guest in your home is badly injured in an accident that can be attributed to negligence on your part
  • If you accidentally cause injuries to another while away from your home, such as while playing softball in the park
  • If your child or pet causes property damage or injuries to someone outside your household
  • If you are accused of libel or slander due to something you posted online

If you want to have more liability coverage than your home insurance will provide, you can supplement your policy with umbrella insurance. This is a highly affordable way to boost all of your liability coverage. Your local independent insurance agent can help you acquire all the liability coverage you want at a price you can afford.

Does Hackensack Homeowners Insurance Offer Burglary Coverage?

The burglary rate in New Jersey is lower than the national rate, and in Hackensack, the rate is even lower.  This is not to say that the risk does not exist. This city averages about 50 burglaries a year.

  • Number of burglaries per 1,000 homes in the US: 4.69
  • Number of burglaries per 1,000 homes in New Jersey: 2.83
  • Number of burglaries per 1,000 homes in Hackensack: 1.12

Burglaries can be very stressful for their victims. You may, however, gain some comfort from knowing that if your house is broken into, your homeowners insurance can reimburse you for your losses as well as for any damage the burglar may have caused. Some homeowners need to purchase special endorsements or riders in order to fully cover valuable property like collections or family heirlooms. A local independent insurance agent can help you be sure that your most valuable property is properly insured.

Insurance Coverage for Second Homes and Vacation Homes

Maybe you maintain a winter vacation home in a warmer climate. Or perhaps you have invested in a house that you rent out to students at Fairleigh Dickinson University. Whatever your reasons, if you own more than one house, you will need to be sure that all of your properties are covered by appropriate homeowners insurance policies. When you own a house that is not your primary residence, this property often has additional risk factors that insurance companies will take into consideration. In some cases, you may need to purchase specialized home insurance coverage. 

  • Vacation properties that are not being used for several months out of the year typically have an increased risk of property damage. Your insurer may, therefore, require you to have vacant home insurance during the times your vacation house is unoccupied.
  • Depending on where your vacation home is located, you may need to be purchase additional policies to cover against hazards like earthquakes or sinkholes, since these sorts of disasters are not covered by homeowners insurance.
  • Second homes that are occupied by renters have lower contents coverage needs since your tenants will need to cover their own property. However, these houses have higher liability risks and typically need to be covered by landlord insurance.

A local independent insurance agent can help you find appropriate policies to cover all of your residential properties.

Why Work with an Independent Insurance Agent in Hackensack, NJ?

The easiest way to find the best insurance for your Hackensack home is by working a local independent agent. These agents work for you, not for a particular insurance company, so they are able to shop around in order to find you reliable coverage at an affordable rate.

Find an independent insurance agent with an office in Hackensack to learn more. You can start comparing customized, competitively priced homeowners insurance quotes in no time.

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http://www.naic.org/prod_serv/AUT-PB-14.pdf
https://www.census.gov
http://www.city-data.com