INSURANCE DEPARTMENT URGES TEXANS TO CONDUCT HOME INVENTORY
AUSTIN – As the June 1 start of hurricane season approaches, the Texas Department of Insurance (TDI) is urging homeowners and renters in Texas to conduct a home inventory of their personal possessions. “After a devastating event like a hurricane, people often find it very difficult to remember everything that was in their homes before disaster struck,” said Audrey Selden, head of TDI’s consumer protection division. “Whether you have homeowners or renters insurance, taking stock of your personal belongings ahead of time is a simple and prudent way to protect your assets and make sure the insurance coverage you have is appropriate for your needs.”
Texas Department of Insurance (TDI)
HOMEOWNERS INSURANCE INFORMATION
How do I take a home inventory and why?
“Would you be able to remember all the possessions you’ve accumulated over the years if they were destroyed by a fire? Having an up-to-date home inventory will help you get your insurance claim settled faster, verify losses for your income tax return and help you purchase the correct amount of insurance.”Insurance Information Institute (iii)
NEARLY HALF OF AMERICANS UNPREPARED
FOR DISASTERS, NEW SURVEY REVEALS
What You Need to Know About Insurance Before Disaster Strikes
KANSAS CITY, Mo. (May 13, 2008) — As the nation braces for the hurricanes, wildfires, tornadoes and floods that accompany the spring and summer disaster season, nearly half of U.S. consumers are insufficiently prepared — in terms of their insurance coverage — to deal with potential losses, according to new research by the National Association of Insurance Commissioners (NAIC).
The NAIC’s national survey revealed a significant lack of preparedness among consumers in documenting their belongings. Nearly half — 48 percent — said they did not have an inventory of their possessions. Of those consumers who reported having a checklist, 32 percent had not taken any pictures and 58 percent had no receipts validating the cost of their possessions. In addition, 44 percent of respondents acknowledged that they had not stored their inventory in a remote location.
“A comprehensive list of your belongings and their value will help you file an insurance claim after a disaster,” said NAIC President and Kansas Insurance Commissioner Sandy Praeger. “Creating an inventory and storing it in a safe location away from home is one of the most basic — and most effective — disaster preparedness steps anyone can take to help protect themselves and their financial future.”
National Association of Insurance Commissioners
(NAIC)
Homeowners find using a professional home inventory service offers many advantages.
For homeowners having an inventory of all the possessions in the home is extremely valuable. This could prove to be exactly what you need in the unfortunate event that a burglar breaks into your home, or if there is a fire or other disaster. It would help you know exactly what was stolen or damaged and this of course is exactly what your insurance company will need to know when you make a claim. There are businesses that offer a professional home inventory service, which is a thorough and complete inventory of all the important items in your home.
How effective is a home inventory service?
Apart from getting the job done quicker, and knowing exactly how to compile a list of your insurable items, home inventory services present your inventory to the insurance companies in a format that the insurance companies prefer. This often results in a fuller and quicker settlement. If you are unfortunate and suffer a large loss you will appreciate your claim being settled as soon as possible.
From: surveillanceforsecurity.com
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