Create A Home Inventory For Insurance
The recent events and effects of Super storm Sandy have brought to light the needfor property owners to reassess their insurance and method of documenting their home inventory before a disaster strikes. Proper records of your home inventory will facilitate the filing of an insurance claim should you suffer a loss.
Albany NY Realtors state that creating a home inventory can be done with pencil and paper alone, but a digital camera can make the job that much quicker and easier. Set aside enough time to review your insurance policies, collect receipts, document your possessions and figure out where youll store your records.
Real estate agents in Albany recommend the following: From rugs & furniture to appliances, plates and glasses, the average home is filled with an array of items collected over the years. While you think youre able to list them in a pinch, chances are youll miss some important possessions if you ever needed to reconstruct your homes contents from memory. If youre going to insure your property and pay for that insurance, you really should be able to document the ownership and value of the items youre insuring. If you dont have proof of the items you owned, it makes filing a claim much more difficult.
The job doesnt end once youve done your inventory. Be sure to compare estimated values to your policys coverage to ensure that youll be able to replace your belongings in case of damage or theft. In some cases you can purchase additional coverage if the value of your possessions exceeds the limits on your homeowners, flood or other disaster policy. Given the value of Albany New York real estate, it makes perfect sense to be prepared.
Insurance adjusters recommend that you use a digital camcorder or camera to take pictures of every room including opening up their cupboards and drawers. Homeowners should literally walk from room to room and record narrative descriptions of items. Make sure to note whether something is an antique or has other qualities that make it especially valuable such as the size of a television screen or the type of stones in a piece of jewelry. It will also be to your benefit to get serial numbers and brand names of your electronic equipment.
Of course, documentation is useless if its destroyed by a natural disaster, consumed by fire or stolen along with your personal computer. A cost effective way to store this information is to save the file on a USB drive thats kept in a safe deposit box or any other off-site location.
The processes of creating a home inventory may seem daunting, but Albany NY Realtors believe the sooner its done the easier it will be should you suffer a loss.
Falvey Real Estate Group, Ltd.
427 New Karner Road
Albany, NY 12205