You have a great feeling when moving into a new house.
There is an excitement in the air as you walk through the empty rooms, in anticipation of making this house a home.
Many have an alarm system as a security measure, but with that often comes a sense of misplaced comfort.
Though these systems reduce the time before the police and fire departments arrive - they do not prevent the fire or burglary from happening.
So, what else can you do to ensure you're protected? Make sure you have sufficient insurance.
Your insurance agent knows the value of your house because that information is on your mortgage.
But what about the contents - the items that might be stolen or destroyed? Do you have high-end clothing, a lot of jewelry and/or collectibles? Are your furniture pieces high-dollar, name brand items? If so, you might not have enough insurance because the personal property coverage is based on a percentage of the house value.
So, how do you know? Create a home inventory of all that you own.
You're probably thinking, "But I have insurance, so why do I need to have this information?" If you have a burglary, fire or natural disaster, you will be required to list each item in your home, when you purchased it and what it cost before you can file an insurance claim.
That's a daunting task.
Try it...
grab a pencil and paper and list everything in your garage.
Hand tools, power tools, lawn and garden equipment, toys, sports equipment, possibly even a compressor, power washer, ladders - the list goes on.
Do you know the manufacturer and model numbers of the tools and lawn equipment? It's overwhelming thinking of doing that for the entire house; can you imagine pulling this information together when under the stress and emotion caused by the situation that created the need to file a claim? A record of all that you own (photographs and written report), prepared now, will help you remember and prove value.
If you don't want to create your own inventory, contact a local service provider to complete the task for you.
They will also help you identify items that should be appraised or covered on a rider.
All of this will ensure you're properly insured, and will be able to financially recover if you have a disaster.
A security system, the proper insurance coverage and a thorough inventory.
Ahhh...
now you can sit back, feet up and enjoy peace of mind.