A Home Inventory and Your Home Insurance Cover
Among the most important things your homeowner in Massachusetts covers are your personal belongings in your home. This includes everything from your counters and appliances to your jewelry and electronics and the other things in your home. If your home was broken into or your belongings stolen, could you replace these items? While we suggest you talk to your agent about how much homeowners you need for your belongings and how much you are currently covering, there is also something else you can do. When it comes to making sure you have enough MA home coverage, it is good to know how much you have in your home. This is why you should create a home inventory.
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What is a home inventory?
A home inventory is a list of all your personal belongings. and their value. This registration of your belongings can be used by your home insurance to estimate the value of your loss. It can also be used to help your agent find out how many homeowners you should have.
Why should I have an inventory at home?
If your home were to fall victim to a fire, would you have any evidence of the beautiful new TV sitting in your living room? How about the expensive diamond earrings you recently got for your big anniversary? Having a home inventory can do two things for you:
- Home insurance can help you recognize items of higher value that may require extra coverage
- They can help you create a record of everything in your home.
Creating a home inventory is one of the best ways to record everything you have in your home. This can be extremely useful for insurance purposes should a fire or other disaster occur.
How do I create an inventory at home?
Putting together a home inventory no longer means getting a piece of paper and a pen. Now you can take pictures with your mobile phone or digital camera and even take a video trip through your home. Try to save receipts or proof of purchase for expensive items as part of your inventory. It may be a good idea to refer to these in the future.
Make sure your home inventory is stored in a safe place. You may want to make more than one copy, store it in a fireproof drawer or somewhere outside your home, as a safety drawer. You can also save a copy in the cloud or keep a copy with a trusted family member.
Having a video or photos of objects in your home is a great way to be able to show what you have and what needs to be replaced in the event of a fire or burglary. If you are exposed to fire or burglary, you are very stressed. Do not put more pressure on yourself to remember what you need to replace. Having a home inventory only makes the process a little easier.
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What other insurance cover should I have?  Your homeowner's insurance provides you with coverage for a certain amount of personal belongings in your home. You may think that basic insurance coverage is sufficient, but when you take a closer look at how much you have in your home and think about how much it is worth, you may find yourself wanting to increase your coverage.
Planning an Article
To help extend your homeowners insurance coverage, you can plan your personal property. This is a supplementary insurance that extends the coverage beyond the standard protection provided.
In addition to jewelry, there are some examples of other items you may want to plan antiques, instruments and art. Almost anything of high value can be planned. You will need a recent evaluation or detailed invoice if it is a newer item. When you schedule an item, you list that item on your homeowners insurance with a certain value and pay a premium based on the specific value. This article is no longer included in your personal property coverage after this and is not deductible. This means that your personal property coverage can be focused on your more basic items.
What are some items to look for?
When doing your home inventory, in addition to looking for expensive items and keeping a solid list of items in your home, there are other things you may want to note.
- Look for objects such as smoke detectors, central fire monitoring and burglary systems. These items may either be required or entitle you to a discount, depending on your homeowner's insurance company and insurance.
- Second, you want to keep an eye on dangerous objects. These items include a pool, a trampoline and pets. It is important to make your insurance agent aware if you have any of the above to get the most accurate quote for the coverage you need. If you fail to tell your insurance agent about these dangerous items, you may be denied coverage when you file a claim!
How much should my self-insurance be deductible?
At Encharter Insurance we do not just want you to have a home insurance we want to help ensure you have the right home insurance. Talking to your agent and having an inventory can help us do that. While talking to an agent, ask them about your current coverage limits or the possibility of adding a special insurance such as jewelry insurance. For best advice on your deductible and limitations, come prepared with information about you, your home and your budget and call our agents. Whether you want to update your current homeowners insurance or if you have questions about how to do a home inventory, call Encharter!