Email an Agent
Click to Call
Get Directions
In most cases, homeowners do not need to add a joint policy holder to their homeowners insurance policy. Some times, though, adding another policy holder has several benefits. Here are some of the advantages homeowners might see by adding a joint policy holder.
Another Person to Manage the Policy
Only those named as policy holders are authorized to manage the policy; policy holders can increase coverage, decrease coverage and make other changes to the policy. If there is only one policy holder listed on the policy, then only he or she is able to make any changes. He or she must be the person who calls the insurance company when there is a coverage question or a claim.
Adding a joint policy holder gives another person permission to communicate with the insurance company. If the first policy holder is too busy to call the insurance company, then the joint policy holder can communicate with an agent.
Possibly Lower Premiums
Some homeowners in Newark, New Jersey have also been able to lower their homeowners insurance premiums by adding a joint policy holder. There are many factors that determine what a policy’s premiums are, and who is listed as the policy holder(s) is one such factor. Sometimes, listing an additional person has a beneficial effect on a policy’s cost.
Residents of Newark, New Jersey who are curious about the possible advantages of adding another policy holder should contact us. As experienced insurance agents, we are able to help homeowners compare all of their insurance options and explore what combination of coverage is best for their situation. An independent agent at our office would love to help you see if adding another policy holder is a wise choice for your situation.