Home Property How To Protect Your Personal Property

How To Protect Your Personal Property


The flooding started in their home long before news reports hit the airways with evacuation warnings.  Vincent and Lorraine Davis had been frantically trying to gather as many of their valuables as they could, but the wall of rising and rushing water came quickly and they barely got out in time with just an armful of clothes and a purse.

In the aftermath of the storm, the Davis’s returned to their home to find total devastation. The force of the overflowing river had literally pushed their home partially off its foundation and collapsed it into a heap of splintered lumber.  There was nothing left of their personal possessions to salvage, although they had hoped otherwise.  Vincent and Lorraine had lost everything and they couldn’t believe it had happened to them.

When the Davis’s submitted their claim for the personal property in their home that had been destroyed in the flood, they received another shock.  Their insurance claim for Lorraine’s jewelry and Vincent’s Renaissance art, among other valuables, was denied by their insurance carrier and they received only minor compensation based on some insurance formula.  The reason given by the insurance company:  lack of documentation of the description and value of the items claimed.  There was nothing that the Davis’s could do, but face the ugly fact that they would not get enough money from their insurance policy to replace any of their most precious possessions.

The sad thing is that this scenario is not unusual.  Every year, too many homeowners who have been hit by catastrophe and lose their personal property are denied compensation by their insurance company because of inadequate documentation.  Without a full accounting of the personal items claimed and proof of their value after loss by fire, flood, burglary or other disaster, your claim will most likely be turned down and you will be out of luck.

Fortunately, should disaster strike you, you can protect your valuable personal possessions easily and reasonably cheaply.  If Vincent and Lorraine had created an inventory of all their valuable possessions in their home prior to the flood, they would most likely have received the maximum reimbursement for everything that they lost.  A home inventory is the answer to ensuring that your personal property claim is honored by your insurance company and that you get full compensation for your losses.

Home inventories are simple enough for the average homeowner to compile.  However, there are certain formats and procedures that need to be adhered to in order to meet certain insurance guidelines.  If records of your personal property are not detailed and corroborated correctly, you may still lose out.

The answer is to hire a professional home inventory service provider.  These companies and individuals use the latest technology to record, photograph, document, catalogue, and store your personal property inventory.  They understand and adhere to the formats required by insurance companies and the courts in order to be considered and honored.

No one ever expects a catastrophe to strike and destroy their personal belongings and valuables, but statistics are too stark to ignore.  When a house fire occurs every single minute and a burglary occurs every ten seconds and floods cause billions of dollars in damage every year in the U.S., no one is safe from Nature’s wrath or a burglary.  Don’t take a chance with your treasured items.  Get a professional home inventory now and put worry behind you.

—Property Seminar

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