Salem County, New Jersey Homeowner's Insurance

Most Salem County lenders require you to obtain some level of homeowner’s insurance coverage. However, you should ensure that the amount of coverage that you have will adequately protect you for all possible losses.

Homeowner's Insurance Introduction

Homeowner's policies in Salem County set coverage limits for specific personal things (e.g., artwork, firearms, jewelry etc.), so you you might want to look into purchasing an independent endorsement or a floater if you feel that you should add to your coverage. Many types of discounts are presented by insurance companies but they may not offer the same discount or the same amount of discount in every state.

There are also additional insurance plans that are pertinent to Salem County homeowners:

Flood insurance

Homeowners insurance doesn't provide coverage for flood damage. Nearly all companies that sell homeowners insurance also sell flood insurance.

Auto insurance

If you're ever in an auto accident that is the result of your negligence, all of your assets (including your home) could very well be subject to liability claims if the claims go beyond the liability limits of your auto insurance policy. Assess your current liability limits on your automobile insurance policy to make sure that you have sufficient coverage to protect your home. It is also recommended that you buy your automobile and home insurance from the same company.

Disability insurance

A disability insurance policy will pay you a monthly benefit to replace a portion of your income until you can work again. A number of employers provide disability insurance for their employees. If this is not the circumstance or if you are self-employed, you ought to contemplate purchasing an individual disability policy.

Life insurance

Life insurance can grant your family the funds to pay off their debts, as well as restore a portion of your income in the event of your death. Many Salem County employers provide a certain degree of life insurance coverage to their employees. If you are self-employed or feel that the amount offered by your employer might not be enough to provide financial security to your family, you should contemplate assessing your family's life insurance requirements.

Prepare yourself now for a future insurance claim

If you should need to file a claim at some point in the future, the following tips will assist you:

Create (and frequently update) a list of the contents of your home.

Photograph or videotape the contents of your home.

Engrave your more expensive belongings (television, stereos, etc.) with identifying marks.

Photograph or videotape the exterior of your home from many viewpoints and angles.

Have special valuables (jewelry, antiques, stamps, coins and other collectibles) appraised.

Store your insurance policy, home inventory, appraisals, photographs and videotape records in a secondary location (your office or with a trusted friend) or store them in a "fire-proof" safe.

Steps you should take in the event of a loss

If the loss is due to a criminal act, such as burglary or theft, notify the police

Immediately notify your agent or insurance company

Ask your agent or company which documents, forms, and other data you'll need to process your claim.

Study your policy coverage and ask your agent or company for the details of the coverage available for the loss.

Shelter your property from additional damage. Save the receipts for the temporary repairs, and submit them to the insurance company for reimbursement.

Do not start any large or permanent repairs before the company has had an opportunity to examine the damaged property.

If you are not able to live in your residence, give your insurance company your contact information

Catalog your contents loss (this is where your inventory list is extremely helpful) to consist of copies of the receipts for the bigger items.

You are obligated to prove your loss, and receipts are the best way to do it. If you don't have receipts, then pictures of the damaged or missing items taken prior to the loss may help prove the loss. If your company requires a "proof of loss" form to be submitted, completing it and submitting it right away will help prevent delays in the claim process.