Homeowners’ Insurance: The Devil Resides in the Details

HNW Real Estate, Landlord/Tenant, and Zoning

By Christopher J. Hanlon, Esq. of Hanlon Niemann, a Freehold, NJ Real Estate Attorney and Law Firm Reading and understanding all of the language in a homeowners’ insurance policy are not formalities to be skipped over while searching for the signature line. As with any contract, the fine print can have real and lasting consequences, and its contents will control over any contradictory verbal assurances. Taking the time to understand the terms of their policies might have headed off bad outcomes for homeowners in two recent cases. Business Purposes Exclusion Joan bought property consisting of a home, two barns, and other outbuildings. She also purchased a homeowners’ insurance policy that excluded coverage for any non-dwelling structure that was rented out …