The New Jersey Banking and Insurance Department has introduced a 2000 Homeowner’s Insurance Premium Comparison Survey designed to help consumers compare rates for homeowner, renter and condominium insurance.
The survey provides consumers who are shopping for homeowner’s insurance the opportunity to compare prices from a variety of companies. The 2000 Homeowner’s Insurance Premium Comparison Survey can also be found online at the Department’s website.
Consumers using the online version can compare prices two ways: sorting by company or by county. Prices in the survey are based on data collected as of Dec. 31, 1999.
Also this fall, the Department in conjunction with the Insurance Ombudsman – plans to publish a Homeowner’s Insurance Buyer’s Guide, a comprehensive handbook consumers can use to help them better understand the products they are buying. For example, according to Ombudsman Michael Harrigan, it will include a glossary of terms and a full description of the different types of coverages that are available. The buyer’s guide also is expected to be posted on the Department’s website.
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