A Complete Home Inventory is Key to Proving Loss
Buying the appropriate home insurance policy is critical to protecting your possessions and making sure you will be able to replace them, but what is the best way to prove your material loss to the insurance company?
When you file a claim for damage or loss, the insurance company will require proof of any loss you have suffered. If you experience loss whether through a robbery, fire or water damages to your home you will not be in the best state of mind to remember every item you owned, ease stress, and ensure you recoup your losses by being proactive.
Document your possessions and keep all your receipts for big-ticket items. There are a few ways to document your belongings; we suggest that you not only take pictures of expensive artwork, collectibles or jewelry but place the items on a current newspaper showing the date or use a smartphone with time-stamped photos. Another option would be to create a video to document your belongings. Email the photo catalog of your belongings to your insurance agent and copy yourself, this provides the date which you had possession of the property and proves you are not claiming items that did not belong to you before the damage or loss occurred.
Any valuable collectibles should have a receipt or proof of the assessed value to ensure they are sufficiently insured. Itemize any collectible or antique items in the policy including the value, a copy of the receipt, date of purchase, and photos of the items.
You can also take inventory of your home with a smartphone app, yes there’s an app for that! Did you know you can take stock with your phone and store your inventory list and photos on ICloud? Check out “home inventory” in the app store to find different options.
A detailed description of your home inventory should include:
- Photographs or video of all items
- Receipts with the date of purchase
- Serial numbers
- Appraisal if the item is collectible or antique
Typically we keep receipts for the big-ticket items such as flat screen TVs, appliances, game consoles, and computers but you need to consider all the little stuff in your home, small appliances, clothing, kitchenware and linens, these items add up and are expensive to replace. Take photos in the kitchen, dishes, pots, expensive carving knives, wine glasses, and china. Open all cupboards and drawers to get a complete inventory on film. Do not forget the outdoor valuables, include patio furniture, garden tools, pool equipment, and BBQ.
Store your inventory online and make extra copies to keep in a safety deposit box or give a friend or family member for safe keeping.
The insurance companies will request these details, especially when paying out for big-ticket items, so the more evidence you can provide, the smoother and more efficient the claim will be.
If you have any questions about home insurance in Mexico, contact Guardian Insurance, an experienced international team working towards one goal: your peace of mind.