Home inventory worksheet12/17/2023 When it comes to your personal belongings, most standard homeowner’s insurance policies cover the loss, minus the deductible. Personal belongings: Homeowners insurance can help you pay to replace stolen or damaged items after a burglary or insured disaster, like a tornado. This coverage can also help if you’re found responsible for injuring someone or damaging someone else’s property while you’re away from your home.Īdditional living expenses: If your home becomes uninhabitable after a covered disaster, like a house or wildfire, this coverage helps cover the cost of your short-term living expenses. Liability: If a visitor is injured while on your property, this coverage can help protect you. Contact your homeowners insurance company for more information). (Note that flood and earthquake coverage is sold separately and may not be available in your area. Structural: In the event your home is damaged by a disaster like a fire, hurricane or lightening, your homeowners policy can help pay for repairs. In general, a homeowners insurance policy protects your home in the following four ways: Taking this step can help you make sure you’re carrying the policy coverage and limits that best suit your lifestyle. It’s often helpful to get a handle on exactly what your policy covers-long before you ever need to file a claim. That’s why it’s so important to create an inventory of all your belongings, complete with photo and video documentation, before misfortune strikes. Still, not many of us can remember all those details, particularly while dealing with the aftermath of a home-based disaster. Those seemingly unimportant details about your personal property are the exact elements your insurance company needs to speed up the claims process-so you can recoup your financial losses faster. When it comes down to it, it’s important to know which model TV you own, the manufacturer of your sofa-loveseat combo and the year your riding mower was produced. But what happens if you call your insurance company to file your claim and you can’t remember what items you had in the house? These claims usually follow a burglary, hailstorm, house fire or other disaster. Every year, about five in every hundred homeowners file a claim. Property damage claims are surprisingly common. The least effective time to categorize your belongings is right after you lose them.
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