When you purchase a homeowner's insurance policy, the plan should protect your home and belongings. To ensure that you have enough coverage for your house, you should insure it for your home's replacement cost value. To have enough coverage for your things, you might want to consider creating an inventory of all your belongings.
What Is an Inventory?
If you look around your home, what do you see? Most people see a lot of things because they own a lot of things. You probably have furniture, decorations, clothing, and all kinds of other things. Additionally, you might have collectible items around your home, and you might also have valuable items hidden away in drawers or cabinets. Creating an inventory is something that requires writing down everything you own and its value or cost. When you create this list, you have a record of everything you own, which is vital for homeowner's insurance.
How Can You Create One?
You create this list in several ways. One option is by writing the list on paper. Another option is to create a spreadsheet of your things. You can also make an inventory by taking a video of everything in your home. Once you create your inventory list, you might want to put it somewhere safe that you can access from anywhere. If you keep the list in a drawer and lose your house to a fire, the list will not help. Therefore, keep the list somewhere safe, like on your phone or email.
How Does It Help?
Having an inventory of your things is vital if you ever experience a loss. For example, if you lose your home to a fire or storm, you can file a claim for your losses. Your insurance company will ask you to prove what you owned prior to the loss, as they will base your compensation on what you owned. If you do not have an inventory list, you might try to create a list of your losses, but you might miss things. Having an inventory record proves what you owned, and it can help you settle a claim faster. As a result, you should always have an inventory of your things for your home insurance plan.
Having an inventory helps you prove what you owned before a peril destroyed your home and things. If you are interested in learning more about home insurance coverage, contact an insurance agent today.
After we had kids, we realized that we needed to up the ante on our insurance coverage. While we had a policy in place, I knew that we had to do something to make sure that we were protected in any instance, which wasn't the case at the time. I began talking with different brokers about what we could do to improve our coverage, and they had some really great suggestions that seemed to help. This website is here to help other people to know how to purchase insurance, and what kinds of policies would work best for your special family.