The Importance of Documenting Your Personal Items

If you were asked to walk out of your home right now, would you be able to list down all your personal belongings? It may seem impossible, but most homeowner’s insurance policies require policyholders to produce a list of contents within their home, in case of a natural disaster.

Documenting your personal belongings with details of its value of each item will help you file for insurance claims in the future.

Here are some benefits of documenting personal belongings:

1. Ensures you have adequate coverage:

First-time homeowner’s insurance purchaser often find themselves doubting the amount of coverage provided by standard insurance policies. Not knowing whether you’re sufficiently prepared to deal with financial losses in an event of severe loss can be a source of anxiety for most individuals.

A home inventory can help assess your coverage needs by giving you an idea about the monetary worth of your personal items.

2. Simplifies decisions regarding additional coverage:

A standard homeowner’s insurance policy doesn’t always cover all your personal belongings. Additional coverage is required for items that are worth more than every day commodities, such as jewelry, antiques or costly art pieces. Insuring precious items at their full value is only possible if you have a comprehensive list of all high-priced articles in your premises.

3. Higher home appraisal:

A comprehensive home inventory could result in a higher appraisal for your home. Home appraisals are required by lenders to develop a fair idea of the value of your home. Having a list of the contents within your home, along with receipts of home improvement projects you have invested in, can add value to your property.

4. Streamlines insurance claims process

Home inventory has a major benefit in the insurance claims process. Insurance adjusters are always trying to tip the scales in the favor of the insurance company they are associated with. If you’re able to provide a list of your personal belongings along with their images, you are more likely to receive adequate compensation for your loss.

It’s important to be adequately prepared to deal with financial losses, in case a disaster strikes. Proper documentation of personal belongings not only helps individuals select an insurance policy with appropriate coverage, but it also speeds up the insurance claims proceedings. 

If your insurance company is using the absence of documentation to unreasonably deny your insurance claim, seek legal help from experienced insurance attorneys, such as Arnesen Webb, P.A.  

This Florida based property insurance dispute law firm has a team of legal experts professionally trained to assess wrongfully denied, delayed or undervalued insurance claims. Lawyers at Arnesen Webb, P.A. work on a contingency basis, so you don’t have to worry about payments until you reach a settlement.

To request a free consultation and obtain the insurance benefits you rightfully deserve, get in touch with their representative by giving them a call at (561) 757-6000. You may also contact them through email at info@insurancelawyers.org.