Disaster Prep: Do You Have a Home Inventory? |
Disaster can strike anytime, anywhere. Last year, for instance, aside from experiencing a pandemic, the U.S declared 58 disasters which caused billions of dollars in damage, according to the Federal Emergency Management Agency (FEMA). Especially during the aftermath of hurricanes, we learn just how many Americans lack hazard insurance. Those who did have it faced the challenge of trying to figure out how to tally up their losses. Its not easy to recall everything one owns, especially when confronting devastation. Then, there are the other losses a homeowner might face, such as those from theft and fire. Being prepared will help to avoid delays in receiving an insurance payout should you someday face a disaster. Dig Out your Homeowner Insurance Policy If youre like many of us, its still in the sealed envelope in which it arrived in the mail, shoved into a box or bin of “important papers.” Get to know exactly what coverage you have and how to submit a claim should the unthinkable happen. Then, create an inventory of your belongings. Many people choose an old-fashioned checklist (such as the one offered by NYCM Insurance or at Allstate.com), while others use video (narrated with the necessary information), or photographs labeled with the information that insurers require when considering a claim. Information required by insurers:
Its important to find a safe spot, off-site, to store your inventory. You may choose to store it in the cloud with a backup service or save money by backing up the information to a USB drive and then placing it in a safe deposit box. Tips from the Experts
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