Let’s try a little exercise: Can you list everything you own from memory? Didn’t think so.
The fact is most people own more things than they realize. It’s easy to remember the cars, the computer, the TV. But what about that holiday china in the garage? Or every pair of shoes?
All of it is regarded as personal property for insurance purposes. And if your home is destroyed by fire or some other disaster, having a list of your possessions makes filing a claim easier — and helps you put your life back together.
Why should I complete a home inventory? What’s the best way? Comparing the value of your belongings to the “contents” limit listed in your policy helps you make sure you have enough insurance to replace them if they are lost, stolen or destroyed as a result of a covered loss. The easiest way to take an inventory is to use a video camera, recording and describing items as you walk through your house. Or, you can use a regular camera and create a home inventory checklist.
Here are a few tips for completing and storing your inventory:
- Add brand names and descriptions where you can, especially on large-ticket items. Serial numbers are helpful to note.
- Keep any receipts you have with the list to make the claims process easier.
- Store your video or photo inventory offsite so you won’t lose it if your house is damaged.
- Update your personal property records when you purchase new furnishings and valuables.
Though the task may seem daunting, it’s important to try. An incomplete inventory is better than nothing at all.
Finally, remember your Homeowners policy covers valuable items such as jewelry, furs, art and antiques, only up to set dollar amounts. If the cost of replacing them exceeds these limits, you may want to purchase scheduled personal property coverage.
We hope you’ll never need the home inventory, but preparing for the worst can prevent a lot of hassle later!
As an added benefit of your 1st Nor Cal membership, we at Lou Aggetta Insurance will help you review the things that are important to you and provide you with options for reducing risk in your life. We are an independent insurance agent and can provide you with home, auto, life, health, business and many other types of insurance coverage. Contact us today to schedule your free review.
Denia Aggetta ShieldsLou Aggetta Insurance, Inc.
2637 Pleasant Hill Road
Pleasant Hill, CA 94523
(925) 945-6161
denia@aggetta.comLicense #OK22281Like us on Facebook at Lou Aggetta Insurance
Follow us on Twitter @LouAggetta Reposted with permission from the original author, Safeco Insurance®.
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