Insurance Inventory |
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Insurance companies are increasingly precise with their policies. They make it their business to ensure that if a policy is cashed they won’t pay out any more than they have to. Insurance is a field that is particularly open to fraud and the companies have to protect themselves from this. Therefore, when you are taking out an insurance policy for your home it is important that the insurance company can estimate the cost of your possessions as accurately as possible. This allows them to work out the value of any policy that you should get to make sure that the policy covers your belongings as much as possible. To that end, it’s very important to take an inventory of everything in your home. If your house is destroyed by fire you probably won’t be able to remember every item that was in the house, and even if you could you wouldn’t be able to prove that everything you claim was in the house was actually there. Taking a home inventory is very simple, though it can take a long time to put a fully comprehensive list together. In the case of special items, or expensive electrical goods it is best if you can jot down the model number, and where you bought it, so as to ascertain it’s value. For that reason receipts, contracts of use, or value appraisals should also be included in the list. It is best to be exhaustive, even down to items such as clothing, particularly if you have expensive clothing items. In regards to large appliances take note of the serial number, as this will again allow a quicker and more accurate valuation. Ideally everything that is in your house will be included on the inventory, but this can be a difficult and time-consuming process. If the task of noting down everything seems like too much another option might be to write down only the most important and valued items you have, as these are the ones that will be hardest and most expensive to replace. Alternatively if you have any extremely valuable items, like musical instruments, it might be worth contacting the insurer and taking out a separate policy. Nothing could be more traumatic than losing your home and everything you own to fire, or losing some of those most treasured possessions to theft. Household insurance is there to protect you against these kind of losses, but it can only protect you if the policy is accurate, and for that reason a home inventory is absolutely priceless. Above all, use a reputable house insurance firm such as RIAS.
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Article Added Tuesday, 03 March 2009 |
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