2021 New Road
Living in a coastal home has plenty of benefits. That's why coastal real estate prices command a premium. But everyone knows that, along with those benefits, there's a significant risk -- storm damage or worse.
Though rarer than along some parts of the East coast, the threat here in Margate is real, as recent storms have demonstrated. It calls for a special level of insurance. And when you're looking for this protection, Kollman Group has the solutions.
You don’t want to overpay for what is already expensive coverage. But you equally don’t want to find yourself underinsured if the worst happens. That's why it pays to consult an independent Margate coastal insurance specialist who knows where to secure the best coverage at the most competitive rates.
Drawing on our expertise and experience over many years of protecting coastal homes in Margate, we've developed a customized program that will be tailored to your particular needs, risks, priorities and budgets.
It's a special type of homeowners insurance that takes account of the structural, liability and personal property risks associated with coastal properties. Flooding can also be covered at competitive rates as an endorsement to your policy
These are among the main factors that influence premium rates. Different insurers also have differing views on the risks associated with your location, your home structure and any provisions you've made to protect it.
So, you need someone to shop around for you.
As an independent agent, we work with all the leading firms offering coastal home insurance for Margate, which means we can investigate on your behalf -- quickly and easily, using latest technology -- to secure the right coverage.
This coverage applies whether it's a seasonal condo, a secondary or a full-time residence
Risks to coastal properties differ from those inland, mainly in scope. Not only can storms and water inundation cause havoc, but you may also be responsible for damage caused to other homes or bodily injury to people from parts of your structure that dislodge and inflict damage elsewhere.
That's why, in addition to structural insurance, it's equally important to have homeowners liability coverage, as well as protection for your personal property.
You may also need coverage to meet the costs of temporary board and lodgings during any repair work, and extended protection for outbuildings, fences and piers that form part of your property.
Remember too that your policy will also cover you against a wide range of risks -- not just from windstorms, but also lightning, fire, theft, vandalism and many other perils.
We can insure homes of all types of construction. And we can arrange special coverage for high value personal items.
One of the most important things about insuring your coastal home here in New Jersey, and along the coast, is that there's usually a waiting period of 15 to 30 days or more before your coverage kicks in.
So, you shouldn't wait for a storm warning and then race to get insured. By the time your insurance becomes active, the storm, and any damage it may have caused, will have passed. That's why it's important to get yourself properly insured as soon as possible -- well before the main storm season arrives in mid to late summer.
The other key aspect to be aware of is that your Margate coastal homeowners insurance should be based on the cost of repairing or rebuilding your home -- not its market value.
Some people make the mistake of insuring for the value and then find themselves struggling if the construction costs start to outstrip the value.
When you insure your Margate coastal home through Kollman, you gain significant benefits that reflect our experience and expertise. These include:
As we've explained, there's that waiting period before coastal home insurance is activated. There's also the need to protect your substantial investment in your coastal home.
These are key reasons not to delay. Contact Kollman Group now and let's get you protected.