Broken Arrow Are You Keeping Track of Your Valuable Personal Property?

 

How much is your personal property worth?

This question is something that the Insurance information institute, a Manhattan industry group, thinks that everyone who has homeowners or renters insurance needs to answer. No home is immune from the possibility of a catastrophe.  That is why a home inventory is so important. Often time’s people undervalue their property. Be sure to look in your closets and try to figure out what it would really cost to replace all of your suits and dresses.

The best way to keep track of the value of your possessions is to keep copies of receipts in a location other than your home. You would, however, have to be pretty compulsive to make copies of every receipt and then store them in a secondary location.

Another way to get a correct idea of what you have would be to go from closet to closet and room to room taking digital pictures of your belongings. It is important to take pictures of furnishings, furniture and even improvements made to the home. You should have antiques, artwork, rugs and expensive musical instruments appraised periodically.

Just a reminder that most homeowners policies provide “contents coverage” for 50 to 70 percent of the insured value of the home. So normally there is enough coverage as long as you can prove your losses.

For renters, co-op, and condo policies policy holders must determine how much insurance they need for their contents. So remember that you have to be accurate. Also everyone should insist that they are insured for replacement-cost coverage.

 

 

Working hard to serve you better: Szeszulski Agency....
Jerry Szeszulski (Shoe- Shell-Ski)
wk 918-254-2578 x227  Cell 918-808-6656

http://finsecurity.com/xs2243  (click here for website)

Jerry Szeszulski is an insurance expert heard on The Future of Real Estate  News/Talk 740 KRMG from 12:30 - 1:00 and KFAQ from 7:00-8:00 on Saturday in Tulsa, Oklahoma. Jerry offers money saving expertise for homeowners to apply to their homeowner's policies. Email your insurance questions to: Jerry@TulsaHomeAuto.com