| To you, it's just your home, but to an | | | | structure of your home. It is very important |
| insurance company and their arcane policies, | | | | to conduct a home inventory to determine if |
| it's not just a "structure", but potentially | | | | you have enough coverage to replace these |
| several "structures", each of which must be | | | | belongings.Many people learn after a storm or |
| assigned the right insurance policy coverage | | | | fire that they didn't have enough coverage to |
| to make sure your home is protected from | | | | replace their belongings. After a |
| disaster. And don't foget your personal | | | | catastrophe, would you be able to remember |
| possessions are another matter unto | | | | all the possessions you've accumulated over |
| themselves! The | | | | the years? Making an inventory will help you |
| rates you pay for your standard homeowners' | | | | decide on how much coverage you actually |
| insurance policy includes the following | | | | need. Start by making a list of your |
| essential types of coverage. These are:1. | | | | possessions, describe each item and note |
| Coverage for the structure of your home.2. | | | | where you bought it and its make and model. |
| Coverage for other structures.3. Coverage for | | | | Include all your sales receipts, purchase |
| your personal belongings.1. The Structure of | | | | contracts, and appraisals. For your clothing, |
| Your HouseCoverage for the structure of your | | | | make categories and note items that are |
| house is the part of your policy that | | | | especially valuable. When it comes to major |
| includes repairs or rebuilding if your home | | | | appliances and electronic equipment, record |
| (dwelling) was damaged by fire, hurricane, | | | | their serial numbers.If you are just setting |
| hail, lightning or other disasters listed in | | | | up a household, starting your home inventory |
| your policy. Your "dwelling" typically | | | | can be simple. If you have lived in your home |
| includes your house, attached structures and | | | | for years, the idea of doing a home inventory |
| fixtures in your house such as built-in | | | | can be daunting. Start by going room to room. |
| appliances, plumbing, wiring, heating | | | | Note recent purchases and do your best to |
| systems, and permanently installed | | | | remember what you can of older items.Your |
| air-conditioning systems. This coverage does | | | | inventory can be documented by photographing |
| not cover damage caused by floods, | | | | each item or by making a video tape. Make |
| earthquakes or routine wear and tear. When | | | | sure to store these documents in a very safe |
| you buy your homeowners' insurance it is very | | | | place, not in your home. You can download |
| important that you purchase enough to rebuild | | | | free home inventory software at Better yet, |
| your home.2. Coverage for Other | | | | keep your records and digital photos inside a |
| StructuresMost standard policies also cover | | | | free KeepandShare account. Read about using |
| detached structures such as garages, storage | | | | KeepandShare for home insurance |
| sheds, and fixtures attached to the land such | | | | inventory.Costly items such as silverware, |
| as fences, driveways, sidewalks, and | | | | jewelry, and furs are covered but there are |
| retaining walls. These kinds of structures | | | | usually dollar limits. Your coverage even |
| are usually covered for about 10% of the | | | | includes "accidental disappearance," meaning |
| amount of coverage you have on your home. If | | | | if you lose the item it is covered by your |
| you believe you need more coverage on these | | | | policy. However, there is no deductible. To |
| structures, make sure you talk to your | | | | insure expensive belongings for their full |
| insurance agent. If a detached structure is | | | | limits you need to buy a special personal |
| used for a business purpose, it is not | | | | property endorsement.Trees, plants and shrubs |
| covered under a homeowner's insurance | | | | are also covered under the Personal |
| policy.3. Your Personal BelongingsItems such | | | | Belongings part of your policy as long as |
| as furniture, clothing, and sports equipment | | | | they were damaged by insurable perils. They |
| are covered if they are stolen or destroyed | | | | are not covered if the damage occurred from |
| by insured disasters. Some policies may have | | | | wind or disease. The coverage is usually 5% |
| limited coverage for small boats but not | | | | of the insurance on your home.Your policy |
| motorized vehicles unless they are unlicensed | | | | also includes off-premise coverage anywhere |
| and only used at your home. Some belongings | | | | in the world. Sometimes the limit is 10% of |
| or items may have limited coverage. These | | | | the amount on the policy.Your policy should |
| could include artwork, firearms, electronic | | | | include up to $500.00 of coverage for |
| data and money. Usually you have 50% to 70% | | | | unauthorized use of your credit cards. |
| of the amount of insurance you have on the | | | | |