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#GIVE TWO REASONS YOU SHOULD COMPLETE A HOME INVENTORY. SERIAL NUMBER#
#GIVE TWO REASONS YOU SHOULD COMPLETE A HOME INVENTORY. FULL#

Home Inventory in Estate and Financial Planning A home inventory is a valuable resource for estate sales and auctions.

Verifies the condition of your assets before moving or placing them in storage in case of loss or damage.

Results in a higher appraisal for your home, since it documents and provides proof of home improvement projects which add value to your home.

Actual cash value is a lower amount that consists of replacement cost less depreciation.

Allows an evaluation on whether to insure your property and contents at “replacement cost” or “actual cash value.” Replacement cost is the amount it takes to replace or repair your home and possessions with materials of similar quality.

#GIVE TWO REASONS YOU SHOULD COMPLETE A HOME INVENTORY. FULL#

You can then decide to purchase additional coverage (known as a “rider”) to insure items for their full value. Identifies items - such as jewelry, coins, antiques, artwork, and silverware - that have limited coverage.Ensures you have the necessary amount of insurance coverage.Obtaining a comprehensive home inventory: Benefits of a Home Inventory If your jewelry is stolen or lost in a natural disaster, a home inventory will have the information required to reimburse you. According to the National Association of Public Insurance Adjusters, most policyholders do not realize that the burden of proof rests with them. In fact, you must provide documented proof of ownership to receive a settlement covering the full extent of the loss. Proper documentation ensures a faster and smoother claims process, as well as maximizing your insurance reimbursement.

An insurance claim requires a detailed list of all the items destroyed, damaged, or stolen. In terms of insurance coverage, a home inventory sufficiently prepares homeowners to deal with potential losses.

#GIVE TWO REASONS YOU SHOULD COMPLETE A HOME INVENTORY. SERIAL NUMBER#

Lighted Magnifying Glass That Stays PutĮven if you could list everything, would you be able to provide detailed information - including the purchase date, cost, model, and serial number - on the contents of your home?.

Single vs Double Vs Triple Pane Windows.