Before disaster strikes, know what your insurance covers. Make sure that your dwelling coverage and personal property values are kept current through annual replacement cost estimates, inventory and/or appraisals.
If you've made any improvements to your home or purchased new furniture, for example, and haven't updated your policy to reflect such changes, you may be underinsured.
Generally, homeowners policies cover damage caused by wind. Some policies are written to include a deductible that applies to hurricane losses. Please refer to the declaration page endorsement section of your policy to see if it contains a
special hurricane loss deductible (HO-30 or DP0330). This deductible is in addition to the all-peril deductible that is on all Homeowners and Dwelling policies. The all-peril deductible is used for all covered losses ... except when a hurricane deductible is applicable.
Remember that homeowners and dwelling insurance does not cover losses due to flooding. If your community participates in the National Flood Insurance Program (NFIP), you may purchase a flood insurance policy. Visit
www.floodsmart.gov to assess your flood risk.
Flood insurance is available from the Federal Government's National Flood Insurance Program. NJM's wholly-owned subsidiary, New Jersey Re-Insurance Company (NJRe), administers this program as a service to NJM Insurance Group policyholders. It is important to know that there is a 30-day waiting period from the time of application until the policy takes effect.
