Western / Coastal Oregon, Oregon Homeowner's Insurance

Most Western / Coastal Oregon 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 Western / Coastal Oregon set coverage limits for specific personal objects (e.g., artwork, firearms, jewelry etc.), so you you might want to research purchasing an independent endorsement or a floater if you sense that you need to increase your coverage. Many types of discounts are provided by insurance companies but they might not offer the same discount or the same amount of discount in every state.

There are also supplementary insurance plans that are relevant to Western / Coastal Oregon homeowners:

Flood insurance

Homeowners insurance does not provide coverage for flood damage. The majority of companies that sell homeowners insurance also sell flood insurance.

Auto insurance

If ever you were in an automobile accident that is the result of your negligence, all of your assets (including your home) may possibly be subject to liability claims if the claims exceed the liability limits of your auto insurance policy. Review your existing liability limits on your automobile insurance policy to ascertain that you have adequate coverage to protect your home. It is also recommended that you purchase your auto and home insurance from the same company.

Disability insurance

A disability insurance policy will pay you a monthly benefit to replace a part of your income until you can work again. Several employers give disability insurance for their employees. If this is not the circumstance or if you are self-employed, you should think about purchasing an individual disability policy.

Life insurance

Life insurance can provide your family with the funds to pay off their debts, in addition to replacing a portion of your income if you die. Many Western / Coastal Oregon employers provide some degree of life insurance coverage to their employees. If you are self-employed or consider the amount provided by your employer might not be enough to provide financial security to your family, you ought to think about reviewing your family's life insurance needs.

Now is the time to prepare yourself for a future insurance claim

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

Create (and regularly renew) a list of the contents of your home.

Videotape or photograph the contents of your home.

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

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

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

Stow 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 if you suffer a loss

If the loss is because of a criminal act, such as burglary or theft, notify the police

Immediately notify your agent or insurance company

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

Review your policy coverage and ask your agent or company for an explanation of the coverage offered 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 a chance to assess the damaged property.

If you are not capable of living in your house, give your insurance company your contact information

Record your contents loss (this is where your inventory list is particularly helpful) to include copies of the receipts for the bigger items.

You must prove your loss, and receipts are the best way to do it. If you do not 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 and submitting it right away will help avoid delays in the claim process.