When filing a claim for destroyed or stolen items, pre-recorded
documentation will make a claim easier and more credible. Be sure
that all your items are covered under your current policy. You
might be surprised at the list of exceptions that some insurance
companies have listed. However, most insurance companies do
suggest a documented record of your belongings. The format
is not the same across the various insurance companies but the
expectation is!
Here are a few insurance company quotes regarding the value of a home inventory:
Travelers
Insurance
“Conducting a Personal Property
Inventory” literature states: “Take the time to compile an inventory of
your
home now, and it will save you precious time and frustration
later.” “Benefits of having a personal property
inventory include:
- Helps to ensure you have the coverage you need.
- In the event of a loss, it makes it easier for you to file a complete and prompt claim, supported by accurate documentation.
- Helps determine the replacement cost of your lost or damaged possessions to settle your claim quickly.”
Farmers Insurance Group
The following can be found on the back
of their "Household Contents Inventory Record Book" - "This record
can be worth thousands of dollars to you. Keep it in a safe
place outside your home."
State Farm Insurance
They offer the following under their
"Home Inventory Tips" - "The threat of loss of property from fire,
theft, or
other causes is always present. An accurate inventory and
proof of ownership at the same time of a loss can
make claim settlement easier and faster."
Allstate Insurance
Under their "Your Property" section,
they ask you to ask yourself, "Do I have an inventory and photographs?"