Few of us go through life actively anticipating that something will happen to our home and its contents, but it happens. Fires, hurricanes, floods, home invasions, and similar disasters are all why we take out homeowner’s insurance.
Now here’s the catch. If your home was severely damaged tomorrow, do you have all the information you need to make an accurate insurance claim? And does your policy cover absolutely everything? If the answer is “No” or “I’m not really sure” you need a home inventory.
Here are some reasons why documenting everything you own is a wise move.
- You know exactly what you own
As the years go by, we tend to accumulate so many possessions that it’s easy to lose track of them all. Have you ever gone through a closet or box and found something you forgot you owned? Creating a home inventory will itemize your household goods and make it easier to decide what you should keep and what is better off being donated or discarded.
- You will know the market value of your home and possessions
Putting together a home inventory that includes invoices and receipts makes it easier to assign a value to your household goods. With a home, you can establish resale value by documenting all the improvements and upgrades. An inventory list will make it easier to file a claim that accurately reflects your losses.
- You can determine if you have adequate insurance
When you know what you own, it’s a lot easier to decide if you have enough insurance to cover any losses. You don’t want to be caught short if it ever becomes necessary to make a claim. Taking a home inventory and making appropriate insurance coverage adjustment will make it easier to rebuild if anything does happen.
- You will be able to file a claim more quickly
When disaster strikes, the aftermath can be nearly as devastating and exhausting. You have to get on the phone with your insurance company, discuss the event and the claim process, and prepare to submit the necessary paperwork. When you have a complete home inventory handy, your claim can be submitted and processed with greater efficiency, so you can rebuild much sooner.
Florida homeowners can never be too prepared, whether it’s for a natural disaster related to storm season or the malicious acts of criminals. Once you create a home inventory, maintain it as an electronic file that you can access anywhere and from all of your Internet devices. Be sure to include receipt images for all purchases going forward. When it comes to filing a claim, preparation and organization can save the day.
If you need to adjust your insurance coverage after completing your inventory, or if you are looking for a new package to meet your changing needs, contact We Insure Agent Rick Leal today. Rick will put together an insurance solution that leaves you properly covered should the unexpected ever happen, so you can enjoy peace of mind about the future.