What is a Home Inventory and why you should get one
I was recently contacted by a company here in Las Vegas that provides a service known as "Asset Documentation Services". Basically, they will provide a homeowner with a detailed list of the personal property or assets that are located in the home or stored elsewhere. Their brochure points out that an inventory is important for insurance purposes should an insured file a claim for damaged, lost or stolen property. Typically your homeowners insurance policy will require you to show the quantity, description and the dollar amount of loss associated with each item. You may also be asked to provide bills, receipts or other documentation to support your claim. Failure to include certain items or a complete description may result in you receiving less than full compensation for your losses.
When hiring a professional service to perform an inventory, they will capture the details of your personal property in a comprehensive report that will be provided to the homeowner for safe keeping outside the home ( such as a safe deposit box ) should you have a loss and need to file a claim. The basic package starts at $249 and the deluxe package is $399, both include the report on a USB flash drive with pictures for documentation. There is also an annual inventory update option each year that costs $99.
As an insurance professional, it is my opinion that this service is well worth the upfront cost. If there was a fire and the house burned to the ground, the claim process for your personal property would be much easier with the professional inventory report as opposed to having to try and remember exactly what was lost in the fire. Should you be interested in this type of service feel free to call us at 702-900-8565 and I will provide you with the contact information to get the process started.