Tips for winter insurance from New Jersey Commissioner Considine

In a recent article, the New Jersey Department of Banking and Insurance (DOBI)  commissioner issued several updates for insurance policy holders in the state. A few key points that are worth mentioning deal specifically with homeowners and auto insurance.  Most principle of those notes were the following:



Homeowners and Renters Insurance 


At home, it is important for property owners to understand the types of winter storm-related damages covered by their homeowners policy. Standard homeowners policies typically cover damage caused by falling trees and limbs, collapses caused by the weight of ice and snow or ice dam leakage. 


Homeowners policies also generally include liability coverage for accidents such as slip and falls on snow or ice as well as medical payments for others, up to certain limits, regardless of liability. 


Before heading to the ski lodge, you should check your homeowners or renters policy. Your ski or snowboarding equipment will generally be covered by your homeowners or renters policy up to a certain limit. Check the limit in your policy and decide if that will be enough to replace the gear if it is damaged or stolen. When checking, remember to factor in your deductible. 


Auto Insurance 


Standard auto insurance policies do not include coverage for snowmobiles. If you are planning to purchase a snowmobile, consult with your insurer about your coverage needs. Be aware that if you plan to take your snowmobile off your private property, you should probably maintain a separate snowmobile policy and carry proof of insurance. If you are traveling and plan to rent a snowmobile, you may want to consider rental insurance. 


Helping friends by volunteering to remove the snow in their driveway with your own plow should not lead to problems. Your personal auto policy should cover any liability or property damage you might cause but check your policy to make sure. However, if you use the plow commercially, you should contact your auto insurance company to determine if a commercial auto policy is required.