How to Properly Purchase Contents Insurance

9/14/2018 (Permalink)

Have you ever asked yourself, "how much coverage do I really need on my belongings?" There is no way to just guess and hope you have enough without keeping an inventory of what you have. Not only for the purpose of determining how much coverage you will need but also in the event of a loss where those items become damaged and that policy comes into effect.

When setting up your home or business insurance policy it is important to keep an inventory of your personal belongings or products/merchandise. Whether you are dealing with personal or business items the same guidelines follow. Keeping a list of items along with the value of them will help keep you prepared when a disaster strikes. It is also important to keep this list current with any new purchases that may increase the value of your property. Trust me, it will be less of a hassle than having to figure out what items you own when they are possibly damaged by a disaster such as a fire. With all the stress and amount of effort one deals with after property damage, one less thing to worry about will help the restoration process resolve much quicker and easier for the owner.  

Also, aside from the usual items like furniture and jewelry; it is important to keep copies of any important documents. Things like birth certificates, property deeds and business contracts should be kept safe with duplicates available along with electronic copies. 

Once you have an idea of everything you own and its value this will allow you to confirm you are receiving enough coverage for those items in your insurance policy. Every insurance policy has a limit for reimbursement so knowing how your policy matches up will keep any surprises down the road from surfacing.