Why do insurance companies recommend their policy owners make an inventory of their personal assets? Many have website helps for them to use in documenting the home and the many items that would be listed on a claim should a fire, storm or theft occur. Here are a few of the benefits for both the homeowner and the insurance company.
Benefits to the insurance company:
1. Policy coverage adjustments are identified
2. Easier claim processing
3. Satisfied customers
Benefits to the homeower:
1. Proper insurance coverage is identified
2. Faster and easier claims settlements - no time consuming list making or hunt for proof, no arguments on whether you had certain items
3. Maximize the amount of the claim settlement - records prevents omission of the forgotten 20% of property from your claim
3. Peace of mind - once completed and stored offsite, you can easily update the inventory as needed and pull it out to provide all the documentation needed for insurance claims, police reports or even estate plan execution
Saturday, April 3, 2010
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