If a catastrophic event damages or destroys your home, would it be made worse by you not knowing what all you lost? Though memories cannot be replaced, the contents of your home can be if you have homeowners or renters insurance.
One of the easiest ways to make sure you get all of your things back is to create a home inventory. This will simplify the claims process and ensure that your settlement amount is appropriate.
Creating the inventory can be tedious, but it can also be as simple as walking around your home with a video camera. Be sure to note the quantities, serial numbers, make, model, and purchase price and date. Supplementing the inventory with photographs is also helpful. You can get a personal inventory chart from your insurance agent.
Add up the value of the contents of your home and store the video and any supporting information in a fireproof container or move the information to a different location, such as a safety deposit box. It is also helpful to store contact information for your insurance agent with your home inventory. Make sure you have enough insurance coverage for your personal belongings.
Here are 5 things you can do if your property is damaged:
1) Report the claim to your insurance agent as soon as possible. Some insurance companies also have a 24-hour phone number that you can use to report a claim.
2) Report the incident to the police, if the claim involves a theft.
3) Prepare a list of the damaged or stolen items. Include a short description of each item, including its age, current value, make, model and serial number if you have it. Make a copy of the list, and give it to your adjuster.
4) Protect your property against further damage or theft, once it is safe to do so.
5) If your home is not fit to live in, make sure your agent and adjuster know where you can be found. Also remember to provide them with new contact information if you change locations.
