What happens if a fire destroys your home? The fire can gut the interior of your home, leaving only memories of what was once inside.
You have homeowners insurance, so you’re covered, right? Well....yes, but what will the insurance company cover? The insurance adjuster will need a list of what was lost in the fire. Are you prepared to provide this? Without a detailed household inventory, processing and collecting an insurance claim can be difficult to impossible. Here are some tips to deal with an unexpected homeowners claim:
- Start your household inventory now! List all of the items you own, dates you bought them and the original prices or monetary value. Use a camera or video recorder in every room – including the garage and the exterior of the home. Your insurance agent can provide you with a home inventory form.
- Each inventoried item should be documented on a list with details of its name, description, size, age, model number, brand name and any other information that helps determine its value.
- Include all items that you cannot see because they are in closets or dressers.
- Keep receipts with your inventory for big-ticket items, such as TV equipment, computers, large tools and equipment, artwork, silver, crystal and jewelry.
- Check with your insurance agent to be sure that these items are covered for replacement.
- Use a safe-deposit box to store your videotapes, pictures and written descriptions with receipts or leave them off premises with a trusted relative or friend.
Following these tips will help you be prepared if you are ever faced with tragedy and need to submit a homeowners claim.
