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Do You Have a Home Inventory?

Are you prepared for a disaster? Disaster can strike anywhere at anywhere. The U.S declared 58 disasters which caused billions of dollars in damage, according to the Federal Emergency Management Agency (FEMA)

Hurricanes are at the top of the list and are predicted to increase for the 2022 season according to the researchers. The 2022 hurricane season will be more active.

Being prepared will help to avoid delays in receiving an insurance payout should you someday face a disaster. Look over your insurance policy. Familiarize yourself with what coverage you have and how to submit a claim, should you find yourself in a horrible situation.

Create a inventory of your belongings; in a form of a checklist, video, or labeled photographs. Your inventory should include the information insurance companies need to process your claim.

Information required by insurers:

  • Each item’s description and the quantity (ex: 2 sterling silver candlesticks)
  • Name of the manufacturer (ex: Tiffany & Co.)
  • Make/model/serial number
  • The date (or estimated date) of purchase
  • Where the item was purchased
  • The appraised value of each item (or an estimate)
  • If you can’t find the written appraisal for any item, jot down the name and contact information of the appraisal company and the date the items were appraised.

It is very important to keep your inventory safe. It is recommended that it be stored off-site like in the cloud on a backup server, or on a USB drive in a safety deposit box.

Tips from the experts at the Insurance Information Institute