Hello Insurance. Goodbye Risk.

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Hello Insurance. Goodbye Risk.

When it comes down to it, all insurance really serves a single purpose. It reduces your risk. Perhaps you cannot afford to risk having to pay $100,000 if someone is badly injured on your property. You'd buy homeowners insurance to protect you from that risk. Maybe you don't want to have to shell out $20,000 for a new car if someone drives into the side of yours in a parking lot. You'd buy comprehensive car insurance to cover that risk. More insurance equals less risk. But how much risk do you need to protect against, and how much insurance is enough? Only you can answer that question, and you should have a better idea of your answer after reading the articles on this website.


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Homeowner's Insurance: Steps To Take To Inventory Your Home

In the event of a catastrophe, you want to know that your homeowner's policy will be there to protect you. To ensure that this is the case, one thing that you need to do is take a solid inventory of your belongings so that you can prove that you owned this and that and what those belongings were worth at the time they were purchased and lost. Here are the steps you need to take.

Save Your Receipts

Your receipts will serve as proof that you owned the item and as proof of the amount that you paid for it. Now, this does not mean that you should keep a shoebox full of paper receipts. After all, ink fades with time, and if there is a disaster, those paper receipts won't do much good for you.

Therefore, these receipts should be scanned onto a computer, or you should take a picture of them with your smartphone and store the pictures on your phone. It is also a good idea to have a backup of these receipts in case something happens to your phone or computer. A cloud backup is the best idea so that you always have access to it no matter what happens.

Create a Detailed List of Your Belongings

Create a spreadsheet and start listing all of your valuable possessions. If you have never done this before, then you should start in one room and do one room at a time. You will want to include the name of the item, the brand name, and its serial number. Don't forget to add the date that you purchased it and the price you paid for it. When you sell or get rid of an item, make sure to go back to your spreadsheet and remove it from your list. When you buy a new item, make sure to add it to your spreadsheet. Always maintain an updated inventory list.

Photograph Each Item Individually

You will want to take photographs of each individual item. Make sure that serial numbers and brand marks are included in the photograph. Close-up photos should be taken for proof that the particular item was indeed in good condition. Also, if your camera has a timestamp, make sure it is turned on.

Video the Home With the Contents in It

After making a significant purchase, as well as once per year, you should take a video of the home. Although photos will suffice as a general rule, a video will prove that the items on your list are still under your ownership and their condition has gone unchanged since their original photo.

If you have any questions or need to file a homeowner's insurance claim, contact an agent today and make sure that you have the aforementioned information with you.

To learn more, contact a resource that offers insurance services like Bear River home insurance services.