by Insurance Maze » Wed Feb 13, 2008 02:05 pm
When we buy a home insurance policy, we expect the insurance company to replace all of our furniture, our clothes, our TV, our computer, our jewelry, our digital camera, our refrigerator, our sewing machine, our baseball card collection and everything else inside our home, right?
Well, if we don't know what's inside our home and the approximate value of each item, how does the insurance company know?
Well, if we don't know what's inside our home and the approximate value of each item, how does the insurance company know?
Posted: Thu Mar 13, 2008 01:46 am Post Subject:
Lori,
Most carriers that I have done work for won't just pay policy limits on a total loss fire. They still required an inventory list with values. It would always amaze me when I would get an inventory list from an insured and rooms would be missing. Like no bathroom items at all. Or they would put a lump sum on one line that said basement boxes - $2K.
Posted: Thu Mar 13, 2008 10:10 am Post Subject:
I agree...have seen these lines myself...videoing room by room and opening draws, closets etc... IMO is the way to go...as I've said, close your eyes and try to list every single thing in just one room....guarantee you'll miss something.....
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