Best Advice Prior To Home Insurance Purchase Decision
One may assume that comparing home insurance quotes online is the easiest way to get best possible deal. It is, however, there are more elements, if focused on can improve the buying process.
One can create a household inventory. This is a clever move that strengthens the prospects of getting the right protection cover at best price. Additionally, it also has the potential to save the insured’s huge sums of money and protecting him from future unfortunate events.
As per a national survey, it was found that 59% of people don’t ever create an official inventory. This regards to inventory of their respective valuable belongings. Further, those who maintained record of their own possessions, around only 48% maintained valid receipts. Further, only 28% stored carefully copies of official inventory documents.
It is important to remember that one can and should do better. It is one’s safety hedge to be ensured utmost protection during hard times.
Further are some easy steps to follow to ensure the same.
Noting it down
This is the 1st good step. Simply writing names of items including a brief description, forms a positive step towards protecting your valuables. The description will include the source of the item’s purchase, date of purchase and explaining the item’s make.
All receipts, appraisals and purchase contracts must be attached therein.
Coverage of durables and jewellery
Durable appliances and electronic devices one must describe them, when noting as per their serial numbers. Artworks and jewelry may require certain special measures subject to the value increase since its purchase.
It’s advisable to consult an agent about having separate insurance for such items.
Adding pictures related to rooms and the valuable items will significantly enhance your chances to get the right coverage. Having visual proofs of your belongings will be of great help.
Recoding a film
This is one step further. You can use a video camera which enables recording with appropriate commentary and related description complementing the visual proofs. When you have a document which has your voice and also clearly shows you with your possessions strengthens the proof of your genuine ownership.
One obviously does not want to store his inventory list in his home. This is because should something happen to your house, the documents also will be lost or destroyed. Hence, the best solution is to keep them in safe deposit box. If you trust somebody like friends or relatives then you store it there. Ensure that you have easy access to add further new items in the safety box.
On average, usually homeowners only get around 50% of their total home's insured value amount after any catastrophe. Hence, the task of identifying all the valuable items in your house and setting required measures is very important. This is important before even starting to look for home insurance quotes. It is when you’re able to arrive at the real value of contents of the house that you will get maximum reimbursement.