Evaluating the Value of Your Personal Belongings as Accurately as Possible
On November 21, a chimney fire swept through the Delpuglio family residence. Just a few weeks later, life was already back to normal.
After their home was robbed, Lucy and Andrew couldn’t remember how many CDs and DVDs they had or the make of the new flat-screen television they lost. They had no receipts or proof of ownership. The theft happened a few weeks ago, and their claim still isn’t settled.
Why Make an Inventory List?
Two unfortunate events, two very different outcomes. What accounts for the difference?
- The Delpuglios’ insurer had strongly suggested they make a full inventory of their belongings. As a precaution, a copy of the inventory had been placed in a fireproof cabinet.
- As for Lucy and Andrew, they were unable to recall any details, and the lack of proof of ownership delayed settlement of their claim.
Taking Inventory: Now That’s Smart!
Of all the resources available to assess the value of your belongings as accurately as possible, an inventory is the most effective preventive solution. The more complete it is, the more peace of mind you’ll enjoy.
Be sure to keep receipts for appliances and other expensive items in a safe place, like a fireproof cabinet. And while you’re at it, make a note of the following information:
- manufacturer
- serial number
- purchase date
- price
That way, if you should lose your house or belongings, the value of every object can be easily determined. Take the time to make a record of all your possessions (photos, warranties, user manuals and so on), and sleep soundly!
For more information on home insurance or to receive a home insurance quote, contact one of our agents.