One area you do not want to skimp on is homeowners insurance.  Just because property values may have dropped, it does not automatically mean you need less property insurance!

Even if your home value has decreased, that doesn't mean you want to lower the amount of coverage.  Chances are it will still be more expensive to rebuild your home now than when you first bought it.

So it's important that your homeowners insurance keeps pace with rebuilding costs, rather than the market value of your home.  This is particularly true for homes at the Jersey Shore which face hurricanes, pinelands brush fires and the dreaded winter nor'easter!

Make sure you know how your home will be replaced.  Sometimes insurance policy language can be tricky.  Get verification in writing that your insurance company will pick up the entire cost of replacing your property with new versions of your current home and possessions in the event of a loss.

Too many times consumers believe that's what they've purchased but find themselves getting an insurance check for pennies on the dollar.  That's because the policy covers "fair market value," which is what your  property would bring if you sold it today.

One way you might be able to save on property insurance for homes in Manahawkin's Ocean Acres section is to report to your insurance company as soon as your street is hooked up to the municipal water service.  

With municipal water service, we now have fire hydrants every block so adjustments to your your policy should be made and with that possibly a premium reduction!

If you are looking to buy or sell a home in Manahawkin or anywhere in southern Ocean County, contact me.