Do you have the right amount of personal property coverage?
If you can’t answer yes then it is time for a home inventory. A New Year might just be the perfect time to take stock of your material possessions to make sure you’re properly protected on your homeowner’s insurance.
Did you get a great gift for the holidays? Maybe you received a diamond necklace, a new musical instrument or a beautiful watch? All of these items should be insured, and just as importantly added to your home inventory.
The first step is to start a file and make a record of every item in your house that you would want and expect to be covered by your insurance. This list should include your computers, TVs, jewelry, antiques, china, art, furniture, gardening equipment, tools and many other things. Include serial numbers if you have them and take pictures of each item. Mark down the item’s condition, and how much you paid for it. If you still have the receipt attach that to your file.
Another approach is to create a home inventory video. Videotape all of the valuable items in your home, making sure to zoom in on the smaller items. You should still document, whether by video, in an accompanying report or in a mobile app, their serial numbers and identifying markers.
The more specificity you include, the more likely you’ll be able to get a claim filed quickly, and at the right amount should anything ever happen to your things.
There are several software programs and apps available to help you create a home inventory. However you choose to make yours, it’s important to back up this information and store a copy outside your home, just in case your home is severely damaged. This information is crucial when filing a homeowner’s insurance claim.
This is an opportunity to learn the real value of your items, especially art and jewelry, and serves as a reminder to get them appraised often. The value of these types of items can go up over time, so you should also make sure they are insured for the right amount. Feel free to call us at A.T.C. Agency to make sure that your homeowner’s insurance policy covers all your belongings, even the most personal and valuable items.
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