Spring is in full swing, warm weather has arrived, children are restlessly awaiting the last day of school...it must be May!  The month of May has been named Home Inventory Awareness Month by The Inventory Institute.  

A recent study by the National Association of Insurance Commissioners (NAIC) revealed that 59% of consumers have not made a list or taken an inventory of their possessions.  The study also stated that “of those individuals with a home inventory, 48 percent do not have receipts; 27 percent do not have photos of their property; and 28 percent do not have a back-up copy of the inventory outside the home. Additionally, 59 percent of people with inventories have not updated their inventories in more than a year, meaning new purchases and gifts may not be covered.”

This study proves just how important Home Inventory Awareness Month is for consumers!  “All renters and homeowners should develop a home inventory, and this is especially important for established families with years' worth of family possessions,” said Kevin M. McCarty, NAIC President and Florida Insurance Commissioner. “Whether it is electronics, furnishings, collectibles, jewelry or clothing, families need to know what they own and how much it's worth.” 

Top Reasons You Need a Home Inventory

1. It’s one of the best ways to ensure you have the right amount of homeowners or renters insurance for your family and your small business.
2. In the event of a disaster or burglary, your insurance company will ask you to provide a list of everything you lost.  A complete and accurate home inventory can cut the time required to complete your claim from months down to as little as 36 hours!  A third-party inventory can also save you thousands of dollars on your claim by ensuring everything is included.
   

May is the perfect time to take inventory of your home or contact us to take care of it for you. Make sure you, your family, and your small business have the protection you need.

Many adults have several types of insurance including homeowner’s insurance, auto insurance and health insurance.  Most policy holders understand the basics of what their policy covers.  But according to A.M. Best’s Consumer Insurance Center, many policies include perks that you might not know about.  What are some of the coverages or perks you may already have?

1.       Theft From a Car – Unfortunately, if your car is broken into, most auto insurance policies will only cover your car, not the expensive birthday present you just bought for your wife and left in the back seat.  Did you know, however, that your homeowner’s policy can in some cases cover this type of loss?

2.       Identity Theft – Do you have coverage against identity theft?  You might and not even know it!  Many homeowner’s insurance companies include identity theft coverage in their standard policy.

3.       Stolen Camera While on Vacation – Don’t let a stolen camera ruin your vacation!  Most homeowner’s policies cover this loss.

4.       Changing the Locks – In the event of a home burglary or stolen house keys, many homeowner’s policies will pay for the installation of new locks to help keep you and your family safe.

5.       Fallen Trees – The recent storms across the US have brought down thousands of trees.  Should the wind know down a tree on your land, even if it doesn’t hit your house, many homeowners policies will cover the costs for removal of the tree.

These are only a few of the many coverages your insurance policies may include.  Check out A.M. Best’s Consumer Insurance Center for even more!  And remember that filing numerous homeowner’s or auto claims may result in a higher premium or even being dropped by your insurer at renewal.  If a claim is not larger than your deductible, it might not make sense to file a claim.  Check with your insurer or your agent to find out what your specific policy includes.  And in the event of a loss, make sure you discuss the proper claim filing procedures with your agent or insurance company.

A.M. Best also reminds consumers that in the event of any loss, insurers do not send out blank checks.  Keep all your paperwork, including receipts.  And to best prepare for the unexpected, please create a complete home inventory.  Or you can let us prepare one for you!  Contact us today by calling (404) 835-7700 or by e-mail for a confidential, no obligation consultation.  We look forward to serving you!