How To Create an Inventory of Personal Property For Home Insurance

If a catastrophe struck, and your San Antonio, TX home or property is damaged or stolen, will you be prepared? When you’re facing a loss, having a home inventory complete with a detailed list, photos and video of the contents of your home will be invaluable. When a disaster such as a home fire occurs, how will you be able to remember all of the items you’ve accumulated over the years? Keeping a current home inventory will make it easier to purchase the correct amount of insurance coverage, verify losses for tax purposes, and help you get your insurance claim settled faster.

According to a National Association of Insurance Commissioners 2012 survey, more than half of American homeowners haven’t made a home inventory of their belongings, and more than half of those with an inventory haven’t updated it in more than a year, meaning they may not have inadequate home insurance coverage to cover losses in the event of a severe weather strike.

Taking Inventory

Make a detailed list of all of your possessions. Describe each item carefully, and note the make, model and when and where you purchased it. Attach appraisals, purchase contracts and sales receipts to the list.

  • List clothing by category, such as pants, coats, and shoes, and note any item of special value.
  • Record the serial number (usually found on the back or bottom of the item) of any major appliances or electronic equipment.
  • Take photographs of each room in your home as well as each individual item on your list. Make notes on the back of the photo what the item is, the make, and where the item was purchased.
  • Walk through your home with a video camera, describing each room’s contents.
  • Keep your list current. Valuables such as jewelry, art work and collectibles may be worth more now than when you purchased them. Check with your Access Insurance Services agent to ensure you have adequate insurance for big ticket items.

Keep your inventory securely stored in a safe deposit box or at a family member or friend’s home, so you’ll have the information available for your insurance representative in the event that your home is damaged. Look into one of the many personal finance software packages that offer a room-by-room inventory list for homeowners.

For more information about how to protect your San Antonio, TX home and possessions, give your agent at Access Insurance Services a call today.

3 Reasons Why Cheap Insurance Isn’t Always Better

Having a budget in San Antonio, TX is important, but going the cheap route for auto insurance isn’t always best. You might feel like you’re saving, but when you need to rely on your insurance – you may find that you get what you pay for.

Deductibles

Deductibles and premiums go hand-in-hand. Higher premiums with Access Insurance Services polices typically mean lower deductibles. The lower the premium, the greater the deductible. For example, paying a little more for your coverage could be the difference between paying a $250 deductible and a $1,000 one. Accidents always happen at an unexpected time and if you don’t have the money for a high deductible, you could be in a bad situation.

Comprehensive Coverage

When you still owe on a vehicle, lenders generally require you to have comprehensive coverage, but San Antonio, TX law does not. Some vehicle owners drop this coverage the moment the vehicle is paid off to save money. Don’t act so fast. Collision coverage is basically only for accident related damages. With a low-cost policy, theft, fire or hail damage, or any other non-accident related damages might not be covered.  

Extra Coverage Features

A low-cost policy may mean you lose access to helpful coverage features like rental car reimbursement. Just because your vehicle is damaged and being repaired, this doesn’t mean you don’t still need to go to work, take your kids to school and get around town. Putting cost over needs could leave you in a situation where you’ll have to get rides from family and friends or manage the rental car cost on your own.  

Agents at Access Insurance Services have many different plan configurations to help you get a policy that fits within your budget, while still ensuring you have the coverage you need.