When you’re considering building a new home in New Jersey, it’s easy to overlook a very important element in the process. Figuring out your home insurance coverage may not be as much fun as figuring out how you’re going to finish your kitchen or your family room—but it’s an essential part of making your home a safe and secure place where you’ll feel comfortable.

There is, however, a lot more to getting the right coverage for your home than simply shopping for the best price. Here are a few things to keep in mind as you consider coverage for your new dream home.

How much coverage do you need?

Obviously, you want to insure your home against total loss in the event of a fire or some such disaster. When you’re building a new home, you have a pretty good idea of the cost to repair—but bear in mind that material and labor costs can go up. What covers your home today may not replace it in a year or two. That’s one reason it’s good to do periodic reviews.

How much risk are you willing to accept?

A higher deductible will generally reduce your monthly premiums. Are you willing to pay a $1,000 deductible if something significant happens? If you an abundance of cash you may be able to afford higher premiums and lower deductibles. If cash is tight, a plan with lower premiums and higher deductibles may make more sense.

How much will you require to replace personal belongings?

Your home is comprised of more than just the structure you live in. Average home insurance policies will cover about 75 percent of your belongings. But if you have a lot of valuables (collectables or jewelry, for instance) you may want to raise this limit.  You may want to ask your agent for a home inventory checklist to see if you have enough coverage.

How much liability coverage will you need?

Standard home polices provide about  $100,000 in coverage to protect you from lawsuits for property damage and personal injury if a visitor is injured on your property. Is that enough?

Do you need extra coverage for natural disasters?

Basic homeowners insurance doesn’t cover losses caused by earthquake or flood. While you may not need protection against earthquakes, flooding can be a problem. Many homeowners assume they’ll be protected if their homes are flooded. If you’re anywhere near a flood plain, it’s worth looking into flood insurance.

How stable is your insurance company?

Getting a great rate on insurance doesn’t do you a whole lot of good if the company insuring you isn’t around to pay off. Look for an insurance company with an “A” rating (or better) that has a history and will be around as long as you own your home.

Take advantage of any discounts.

You can reduce your home insurance premiums with discounts for things such as fire sprinklers, smoke detectors, alarm systems, monitoring services, and a new roof. Also, bundling your home insurance with your car insurance can give you lower rates.

Selecting the right insurance helps you protect the investment you make in the home of your dreams. A good insurance agent can help with that. Selecting the right home for your family? We can help you with that! Check out the Country Classics website to learn about our outstanding new home opportunities.