Understanding Homeowner’s Insurance and the LBI Real Estate Market
Long Beach Island Real Estate
While flood insurance is the most commonly discussed form of protection for both buyers and sellers in the LBI real estate market, in many cases, homeowner’s insurance will be the more significant expense! While it is true that flood insurance can be an expensive bill, the reality is that most homes on Long Beach Island meet or exceed the current base flood elevation requirements. For this reason, it is essential to understand Long Beach Island Real Estate Homeowner’s Insurance and how it can impact the short and long term ownership cost of a home on LBI. Three principal factors determine the cost of homeowner’s insurance in the Long Beach Island real estate market. They are:
- The location of your home
- The value of your home
- The condition of your home
By : Nathan Colmer |LBI Real Estate Agent | The Van Dyk Group
Cell: 609-290-4293 | Office: 800-222-0131 | ncolmer@vandykgroup.com
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