Its a sickening thought, but there is a real possibility your home could be struck by tragedy at any moment. Homes burn down, flood, suffer damage by tornados or are otherwise damaged on a regular basis. And when a home is damaged the things inside are usually damaged as well. Because of these facts, its an excellent idea to conduct a home insurance personal property inventory.
Most insurance providers supply homeowners with a personal property inventory worksheet or even free software to use for building up an inventory list. Many homeowners might view building an inventory of their personal items as a huge chore and something that likely will never come in handy. The fact is that preparing such an inventory can be invaluable if you ever need to file a home insurance claim in the future.
In the unfortunate event that you need to file a home insurance claim, your personal property inventory will allow you to file that claim faster and with greater accuracy. You will not have to stop and think about what all you had in the house that has been lost, combing through old photos or videos of your house to jog your memory. Instead you only need to go through your personal inventory and mark the items that have been damaged. This means you will receive a payment from your insurance company faster.
Conducting a personal property inventory forces you to go through everything in your house. Its easy to forget about what all you own and so underestimate what kind of home insurance coverage you need. Having gone through all of your personal items, you will not be left after a disaster realizing that your home insurance will not provide the coverage you actually need.
Another benefit of conducting a personal property inventory is that you will have accurate documentation of the condition, cost and age of larger and more expensive items in your house. This includes items like furniture, jewelry, electronics and appliances. Such documentation will help your claim be processed faster, remove suspicion of fraud and will ensure you do not inaccurate value your personal items so you receive less money than you should. Of course less expensive items like clothing and small appliances can combine to cost quite a bit of money, so accurately documenting the number of small items you own will help prevent you from losing money on your insurance payout.
Digital home insurance personal property inventories provide the ultimate way to document your personal property. Not only do you build a list of what items you own that are in your house, but you can also easily record serial numbers for electronics as well as attach digital photographs of the more expensive items. Unlike paper inventories that can be damaged, digital inventories will live on forever since they are often stored on the Internet instead of just on your computers hard drive. Your digital documentation can clear up any questions your insurance company might have about the various items you claim on your insurance policy.
The author of this article Sam Jones lives in an area prone to flooding. The uSwitch.com price comparison site is a great resource to compare flood insurance cover and select the best cover at the most reasonable price
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