Column by Brian Hurst, The Clearspan Agency Insurance
Have you ever looked around your house and wondered how you have accumulated so much stuff? Do you ever think about how difficult it would be to replace everything at one time? The “Personal Possessions” part of your homeowners insurance policy is there to provide cash to replace all of the possessions lost in a homeowners insurance claim.
When there is a loss of personal possessions in a homeowners insurance claim, the insurance company will ask what possessions you lost and the value. All you need to do is show the pictures you took or the list you made. What!?, you don’t have that?
Get a digital camera and start snapping. Open the kitchen cabinets and show the pots and pans, dishes and silverware, appliances, Tupperware and cookbooks. Open the closets and dressers to show how much clothing you have. Go into the basement and take pictures of all that stuff you just can’t get rid of. Go to the garage and take pictures of bikes, tools, sports equipment, and your mower. And take pictures of your chairs and couches, the computer, the TV, electronics and anything else. If anything has any particular or unique characteristics, be sure to capture that. Put all the photos in cloud storage (e.g., Dropbox.com, Google cloud, etc) so they will still be accessible even if your entire house is damaged.
Next, look at the insured amount for Personal Possessions on your homeowners insurance policy. Is it enough to cover everything in all of those pictures you just took? Do you have any Furs, Guns, Jewelry, Silverware, Antiques, Stamp or Coin collections or other valuable items? If you do, talk to your agent about adding itemized coverage to make sure those items are adequately covered.
Taking an inventory of your personal possessions is a big task, but well worth it. For more help, go to http://www.clearspanagency.com/links.php and click the link for the Home Inventory Checklist.