Location: 7 S. Warren Street, Dover, New Jersey

New Jersey, NJ Homeowners Enhancements

We represent one of the finest homeowners insurance companies in New Jersey.  Franklin Mutual Insurance Company (A+, highest rated) writes Homeowners only in New Jersey.  Boy are they superb!  They are unique in that both the building and the contents coverage is “ALL RISK”, (FORTUITOUS DIRECT PHYSICAL LOSS). This included coverage is equivalent to the expensive policies of other companies that include form ISO HO15 or the old ISO HO5 forms.

Here are some of their fine enhancements…

  • Ordinance of Law coverage, a/k/a increased cost of construction included
  • Trailers $1,000.
  • Furs $1,000.
  • Guns & accessories $2,000.
  • Grave markers $1,000.
  • Jewelry, watches $3,000.
  • Limit of $1,000. per item unless you schedule. See below
  • Money $300.
  • Property used for business (on premises) $3,000.
  • Property used for business (off premises) 15% of the premises limit.
  • Securities $2,000.
  • Silverware $3,500.
  • Watercraft $1,000.
  • Computers including software $3,000.
  • Credit card $2,500.
  • Debris removal 10% add’l; $300. trees
  • Sewer / septic backup $5,000.
  • Sump pump failure $3,000.
  • Fire dept. service charge $1,000.
  • Fire extinguisher recharge $250.
  • Lock replacement $500.
  • Loss assessment $5,000.
  • Trees, shrubs, plants $2,000. per occur. / $500. per tree
  • Tree removal, no property damage $300.
  • Work interruption $3,000.
  • Damage to property of others $1,000.
  • Farm structures – loss by fire only $5,000.
  • Tenants betterments & improvements for tenants $2,000. + 10% cov C
  • Tenants betterments & improvements for unit owners addl. 10% cov. C
  • Property loss to unit owners property
  • assessment for association’s deductible 10% Cov. C
  • Landlord property $1,000.
  • Liability for business activities of a student less than age 21 included.
  • Personal property of students under 24 away at school during school year incl.
  • Increased watercraft limit $2,000.
  • Food spoilage $1,000.
  • Theft of building materials included
  • Definition of insured includes a resident companion
  • Crime prevention coverage $1,000.

Many of the limits of the items shown above can be increase, please call if interested.

Identity Theft & Credit (MPL 55)

Realizing the complexity, confusion and time required to re-establish identity and/or good credit, Franklin Mutual Ins. Co. has partnered with Identity Theft 911, a nationwide leading company that will provide direct help and guidance necessary to resolve these issues.

Here’s how it works: If you, the insured thinks he or she has had their identity taken or tampered with, or notice unauthorized credit card use, you should call our customer service department. At that time, our customer service representative will take the required information and put the insured in touch with Identity Theft 911. The insured will receive the following services:

  • A personal advocate who will work one-on-one start to finish to restore the insured’s identity
  • Systematic notification to the police, all credit card companies, banks, creditors and collectors, government agencies, and all other relevant parties
  • All phone calls and preparation of documents needed to resolve the identity theft
  • Comprehensive case file creation to assist law enforcement and insurance
  • A 3-in-i credit report
  • A full year of weekly credit monitoring
  • A full year of fraud monitoring for victims of true identity theft
  • A full year of threat alerts, proactive tips, education and follow-up call to avoid recurrence

All this at no cost to the insured other than the premium for the endorsement to his policy

Standard exclusions:

  • Pollution (limited coverage available)
  • earth movement
  • earthquake
  • flooding
  • volcanic activity
  • electrical damage (caused by artificially generated electrical currents)
  • freezing of appliances or equipment (while the building is unoccupied or vacant or under construction)
  • theft by insured or tenant
  • vandalism (while vacant)
  • water damage (underground water which exerts pressure on or flows
  • seeps or leaks through doors
  • driveways
  • floors
  • foundations
  • sidewalks
  • walls
  • windows or other openings
  • wear
  • tear
  • theft of a building under construction including building materials
  • violation of statutes that govern email, fax, phone calls, etc.

Scheduled jewelry rates:

  • Single item under $5,000. cost is $14. per thousand of value
  • Single item $5,001. to $8,000. cost is $16. per thousand of value
  • Single item $8,001. to $10,000. cost is $20. per thousand of value
  • Single item $10,001. to $15,000. cost is $22. per thousand of value
  • Single item $15,001. or more. cost is $24. per thousand of value

Personal Excess Liability (Umbrella)

Rates are approximately $160. a year if you own one vehicle or $180. if you own two vehicles. Don’t Underinsure Your Home!

Most people think their home will never burn down completely. It does happen and happens more often than you think. Did you know that building construction codes state that if a home is destroyed by 66% or more, then it MUST be demolished.

Cost to remember when insuring or rebuilding a home:

  • Demolition costs
  • Debris removal
  • Architect and engineers fees
  • Increased cost due to new construction codes
  • Increased cost of construction materials due to seasonal and marketplace changes

(example: Due to the hurricanes the last few years the cost of building materials has skyrocketed!)

Pollution Exclusion

Most homeowner policies exclude pollution from oil tanks. Franklin Mutual will provide limited coverage up to $300,000. The cost is $80. for an above-ground tank with no containment to $20. with containment. This includes oil tanks in basements. Please let us know if you are interested in coverage. Also, coverage must be purchased when purchasing the policy. It cannot be added to a policy already in force.

Flood Insurance

Don’t forget about FLOOD INSURANCE! Give us a call.

Mudslide / earthquake coverage too.