Is your personal property less insured?

According to Marshall & Swift / Boeckh, 64% of all homes in the United States are uninsured. With so many recent natural disasters, many people are figuring out how much their insurance policy will cover. Unfortunately, some find out too late that their coverage is inadequate.

what can you do?

1) Accept responsibility.

First and foremost, recognize that you have a responsibility to protect your home and personal belongings. While your insurance agent is there to help, it is ultimately up to you to purchase the appropriate coverage.

2) Make a list of your home and belongings

Before you can decide how much insurance is right for your situation, you need to know how much your home and belongings are worth. This is where using a simple home inventory software program helps determine the value of your home and all your belongings. Find one with a report that you can print to your personal list. Assets are grouped by subtotal by category.

3) Review and update your policy.

Now that you know how much and what you’re trying to protect, it’s time to review and update your policy. Compare the price of your original goods with the coverage in your policy. Pay close attention to the boundaries of specific categories of personal property, and do not hesitate to call your agent for clarification. In fact, now would be a good time to print a copy of your home inventory report and schedule an appointment with your agent to review your policy and current status.

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