Purchasing renters or homeowners insurance from a personal insurance agency is an excellent way to have peace of mind that your property is covered in the event of a loss. However, simply paying the yearly premiums without giving your coverage a second thought could be a costly mistake. Instead, insurance professionals recommend that you periodically record a thorough inventory of your home for these top three benefits.
You Will Get Proper Compensation
Insurance professionals recommend taking photos, videos, or creating inventory lists that are kept safely away from the insured premises. This way, an adjustor will be able to properly calculate the value of the items lost and compensate you according to the records rather than simply estimating.
You Will Know What’s Missing
While insurance adjusters have an idea of what items are typically contained in a home, it’s better to have an exact inventory of your own contents. Especially after the trauma of whatever caused the loss, it may be difficult to itemize all of your possessions accurately.
You Can Prove a Loss
Having a record of what the condition of the home was like before a loss will ensure you can prove that the loss actually occurred. For example, if you recently renovated or fixed prior damage, having photos will allow the adjuster to pay commensurate with the updated value.
The time to plan for an insurance loss is before it happens. Having a detailed inventory of your home is the best way to hedge against the unexpected.