Just because you locked your door doesn't mean you're fully protected.

Fire, Natural Disasters, Theft:

• A fire occurs every 60 seconds in the US.
• Property loss due to fire in 2006 was estimated at $11.3 billion dollars.
• Burglaries occur every 8 seconds in the US.

Will you be prepared?

Disaster can strike when you least expect it. Your latest home security system will not be enough to protect you from these.

Sure, you may have insurance coverage, but when you make a claim for damaged, lost, or stolen property, you will be required to submit a complete list of every item associated with the loss.

The information could include descriptions, quantities, and even proof of the value of certain items using receipts or other documentation to support your claim.

Home inventory lists can help you in these cases:

Theft – Thieves don’t always take the most obvious items in your house. When someone breaks into your home, an accurate inventory not only verifies items to authorities but also helps you determine what items to look for as missing. A detailed record of make, model and serial number clearly identifies found items and aids police in making arrests.

Natural disasters – Hurricanes, earthquakes, tornados, and flash floods suddenly deprive you of your assets. In serious situations, owners are banned from returning to their homes until the danger has passed. Looting becomes an issue. Whether you lose belongings via human or natural means, the loss is sudden and severe. Knowing that you have a list to support your claim, later on, would help ease the pain.

Financial Accounting – A current inventory of personal items could come in handy in cases of bank loan applications, bankruptcy, or legal confrontations. It also provides documentation at income tax time, when claiming deductions for disasters, theft, and/or other losses.

Death – In cases of death within your immediate and extended family, a complete inventory helps simplify the process of carrying out a will and the settlement of an estate. It eases the burden of dividing assets amongst heirs, especially when relatives are not familiar with the estate.

Proof of insurable value

When making a claim, it is always important to know the value of your loss, in order for you and your insurance agent to come up with a settlement amount that is fair to both parties. A pre-disaster home inventory will provide you with the best support for your insurance claims, because it contains a detailed account of all the items you own, including their monetary value. The absence of such a document could lead to disputes on the settlement account if each party comes up with a different value for your belongings.