If you have a fire or burglary in your home you would expect the insurance company to repair and or replace your lost and damaged items. Would you be able to remember every item you have accumulated over the years if they were all gone? If your home is damaged, or totally lost due to a fire or other event, having a home inventory will help you recover all your personal property with the least amount of time and stress. Having a home inventory is the easiest and best way to manage insurance claims after a disaster or loss. This also expedites the claim process, making it easier to be paid.
Creating a personal home inventory helps in calculating how much your personal property is worth. Knowing this ensures you have an accurate value. If you have too little coverage, you would not have enough funds to replace lost property; and if you have too much coverage, you are paying higher premiums than you need to. Here are a few more reasons to develop a home inventory:
- It helps settle claims accurately and promptly
- It provides required documentation of ownership and value
- It helps with estate documentation
- It preserves your heritage
Documenting important valuables such as rings, watches, jewelry, guns, and cameras should be part of your plan. In most cases, some high-end valuables are subject to limitations unless they are scheduled. Scheduling these items insured you will have the correct value in the event of a loss.
The best way to start your home inventory list is to go room by room. Take on three rooms per day, and you will be done in no time. Send a copy of your personal home inventory to our office; we would be happy to keep the written records as back-up for you. Use a camera for all items over $500 of value. You can even use a video camera and talk about each item as you go. This makes a great way to keep records. Then send the information electronically to a family member.
Insurance Solutions for the Great State of Texas
Are you searching for top-notch coverage from an experienced agent? For all your insurance needs, look no further than McKinley & DiMarco Insurance Services, an Austin-based independent agency started in 2001. We’re here to help you get a great plan at a price that’s right for you. We offer a wealth of options for both personal and business insurance. Whether you need to buy better coverage for your business or to get coverage for your new home, we’ll review your needs and obtain quotes from several carriers.