Do you have an updated asset inventory in a safe place away from your home or business? If you had a fire, burglary, or other catastrophe could you guarantee that you would remember everything you own? If the answer is no to either of these questions you should consider the services of a professional and reliable home inventory services company.
One residential fire occurs every 83 seconds. A structure fire , which includes church and commercial, occurs every 62 seconds. A burglary occurs every 14.6 seconds in American homes. The average property loss continues to climb each year - not due to more incidents, but because of the increased value of the personal property in our homes.
If you were a victim of a fire, burglary, or other catastrophe, trying to recall or prove what you had in your home could be very difficult and costly.
Insurance companies generally try to be helpful and cooperative in paying a claim, but they don't come to you with a blank check. Its your responsibility to prove your loss, and having a record of these items will help to process your claim faster. Also, insurance companies will replace property with the "same kind and quality" concept of what you lost. If your property is valued above the "standard" rule, it's your responsibility to prove otherwise.
Insurance companies and estate planners strongly recommend a thorough documentation of the personal property in your home or business. The Insurance Information Institute statistics show that fewer than 20% of homeowners have an updated home inventory and revealed those homeowners typically receive 20% more when settling an insurance claim.
Home Inventory Services specialize in documenting and recording personal property in homeowners, businesses, and churches. A professional and reliable Home Inventory Services Company will provide you with complete reports, digital video on DVD, and digital photographic record on CD of your home or business and its contents. These companies help you to maximize insurance claims, while helping to make the process go fast and easy.
Having an updated inventory of your property satisfies the burden of proof that insurance companies require prior to settling a claim. Proper documentation of assets is crucial when they become stolen or damaged and need to be replaced in a timely manner. Insurance companies all endorse property inventories and many state that in a claim process the one with the property inventory documentation will receive 10% to 20% more when the claim is settled.
Do the math: The average home value is $200,000 with an insured content coverage of 50% or $100,000. That's a $10,000 to $20,000 loss in a claim settlement without a home inventory! It will also assist police by identifying your property after a theft with written and photographic evidence of your property.
Check with your insurance agent for a list of reliable home inventory services companies.