You don’t have to video your belongings to insure them, but it’s definitely to your advantage if you need to file a claim. It’s an easy way to create an inventory of the items you intend to insure and obtain recompense for every item.
There are dozens of items in your home that you wouldn’t be able to name if they were lost in a fire, flood or natural disaster. You’ll need all of that information about your home’s contents when filing a claim. The contents include clothing, toys appliances, jewelry and electronics, along with tools, dishes, draperies, sports equipment and more.
If you have valuable artwork, jewelry furs, designer clothing or collections such as baseball cards or stamps, you’ll need to have it appraised by an expert in the field. Be sure to video those items, along with a statement from the appraiser showing the value.
Coverage is typically provided at 50 to 70 percent of the total value for which the home is insured. If your policy stipulates actual cash value for your possessions, the reimbursement cost on items will be prorated for depreciation, depending on their age and condition. Policies that provide replacement costs will cover the price of purchasing a new or similar item at current market value. Be aware that policies that cover replacement costs will be pricier.
Making a video is important and you might also want to take photos. Keep a written inventory of every item with as many details as possible that includes brands and model numbers. Keep the receipts that show the purchase date whenever possible and don’t forget to update the video with new items and their information as you buy them.
A meticulously kept inventory and video will expedite the claims process with your insurance company. It will also provide valuable information if the insurance company underestimate the values and you need to hire a public adjuster to work for you on obtaining all the funds to which you’re entitled.
For more information about how The Sena Group can help you with any
of your insurance needs, please contact us at 561-391-4661.
We can be found on Social Media at the following links.
The Sena Group
6501 Congress Ave., Ste. 100
Boca Raton, FL 33487