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Protecting Your Inventory
To fully protect your most valued possessions, you need a completed record of these items in case they get damaged or stolen. The information provided below will make the claims process easier in case of such an event. This will make the claims process easier, reducing the amount of stress during a traumatic time. The links below provide information in assisting you record your property inventory in the event of theft or other unforeseen circumstance.
Make a Video or Photographic Record if Possible
Peace of mind can be greatly enhanced by making a video of your belongings. Simply walk around your home with a video camera, describing each item while recording it. This creates a highly accurate record of your valuables. If you do not have access to a video camera, a still camera works nearly as well. Information such as serial numbers, make and model, and date purchased can be written on the back of each photograph.
Customers of MacLeod Lorway Insurance in Sydney can be provided a camera for this very purpose. Simply e-mail your request to your Personal Lines Broker.
When you have completed your inventory, in whatever format you choose, be sure and store this information away from your home. If this information is destroyed in a fire or stolen along with your possessions, it does you no good. The safest place for this information is in a safe deposit box; other good locations include your office or with a friend or relative who live in a different neighborhood.
Helpful Hints In Creating Your Inventory
Start with the most expensive items. Then, as time permits, add items such as toasters, pillows, and other less costly possessions.
If you have receipts for items, keep them with the list. Any supporting information will make the claims process easier.
Add brand names and descriptions where you can, especially on large-ticket items. This will assist in determining the item's replacement cost.
The following lists may not reflect your exact situation. If you have a television in the kitchen, for instance, just add it on the kitchen list or put the information on another "television" listing. Where the item is located is not important.
If you don't know all the information about a particular item, just include all you do know. A little information is better than none.
The download below is a list you can use to keep track of your inventory. If you need the file in a certain format, do not hesitate to contact us with your request. We have provided the file in Adobe Acrobat format.
If you do not have Adobe Acrobat Reader, click the left box
to download it for free.
Replacement for your Contents
Check with your agent to see if you have Full Value Contents coverage, which will pay for the replacement value of your personal belongings. If you don't have this coverage, it can be added to your policy with minimal cost. A standard policy covers personal property only up to its actual cash value. Actual cash value is determined by taking the replacement cost and deducting depreciation, which can be substantial. To ensure you can maintain your current standard of living, ask for Full Value Contents coverage.
Protect Your Most Valuable Possessions
Remember your Homeowners Policy covers certain valuable items, such as jewellery, furs, and antiques, only up to set dollar amounts. Additional insurance should be obtained if the cost of replacing these valuables exceeds these limits. This can be added through options or a personal schedule of these items. Ask your agent which is right for you.
Keep Your Inventory Current
Lastly, update your personal property records when you purchase new furnishings and valuables. Ask your insurance agent if you need additional insurance. Your independent Broker is skilled in analyzing your insurance needs and recommending the most effective protection for your personal property.
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