Home insurance protects what's inside the house just as much as protects the physical structure of your home. Your house, condo, townhome, and even apartment becomes your “home sweet home” when you move all your belongings into it. Your belongings sometimes are more cherished than the physical structure of the building.
Some of the things you bring into the home such as furniture, electronics, sports equipment, and clothing are all your belongings, referred to as personal property in insurance terms. And you need to make sure that these items are properly protected.
If you have any high-value items, make sure you check with the Held Insurance Agency so we can review your homeowner's coverage to make sure your property is protected. We understand that your home is not just the physical structure and we want to make sure that everything inside of it is protected. Many high-value items such as jewelry or artwork may need special coverage since they may exceed the policy limits. Always ask your agent if it's covered.
Understanding what you have helps you protect the stuff inside your home. And if you're like many individuals you may discover that you have a lot more personal property than you realize.
To get a better understanding of what you have, you need to develop an inventory of your personal property following these few tips:
- Use a smartphone to record a video and describe items as you move through the home.
- When you get to higher-value items take the opportunity to describe in more detail the brand, model, and even serial number.
- Store your recorded video off-site, perhaps at work, or have it backed up in the “cloud”.
- When you make new purchases, make sure you add them to your inventory.
- Schedule a calendar task annually or biannually and record a revised video.
- If you choose to make a written list or an excel list and attach receipts for the items, please make sure they are in a location where they can't get damaged.
When a claim arises it is your responsibility to inform the insurance company of what was damaged or stolen. Producing receipts is a good option, but what happens if they get destroyed in a fire. A backed-up video is our recommendation. It's the easiest way to provide documentation for the adjuster to show you owned something.
Contact Held Insurance Agency - Located in Mount Prospect, Illinois to learn more. Call 847-264-4644!