homeowners
Oh My! Panties, Bras and Rolls of …?
Panties, bras and … what? Rolls of valuable coins in your lingerie drawer? Of these three items, one just doesn’t seem to belong!
If you have a large stash of cash, collections of rare coins or a large number of rolls of coins hidden here, it’s best to place them elsewhere. Why?
People often hide items of high value among their lingerie. Statistics show that this is a common place and, unfortunately, burglars know this, too. It’s one of the first places they look!
Smart people secure proper insurance, but it’s just the first step in securing your financial security. Having a thorough inventory completed by a nationally certified home inventory service will help ensure that you get the benefits you are entitled. Receive a maximized claim by remembering and proving ownership after an insurable event.
Do You Keep Your Ice On Ice By……???
Do you keep your ice, or diamonds as they are more commonly known, in an ice cube tray or bin?
Believe it or not, some do!
That puts a whole new meaning to a “diamonds and ice” event, doesn’t it?
Many burglars know that some people “hide” their jewelry in ice cube trays. Smart people have an inventory of all of their belongings – including jewelry. When you create your inventory, be sure to include close-up photos of your jewelry so you can prove what you owned if it’s stolen.
Take the photos to your insurance agent so they can help you decide if you have sufficient coverage. Most policies have a limit of between $1600 and $2500 (some have a limit as low as $500!). If your jewelry is valued at an amount greater than the limit, your agent can provide a very affordable jewelry umbrella for you to cover the total replacement value that exceeds the limited noted on your homeowners policy.
If The Bookshelf Isn’t A Bookshelf, Why Keep Books On It?
Walking along a wall, we remarked to the homeowner how beautiful their built-in bookshelf was. “Actually,” she stated with a smile, “it’s a closet.” Wow! The wall moved and behind it was a huge walk-in closet!
Not everyone has a house with hidden closets to hide valuables in, so smart people take other steps to secure their financials. One way is to purchase the proper amount of insurance coverage. Another way is to have an alarm system.
Both of these work in different ways. The security system deters thefts, or at least shortens the time the burglars are inside, which of course lessens the loss. The insurance policy will help you recover after the claim is filed.
A third piece to the puzzle is a nationally certified home inventory. This document will help you remember what was stolen – a task that’s difficult when you’re under the stress of the burglary and the deadline given by the insurance company.
This 3-part approach to securing and recovering after a loss ensures your financial future.
The Cake Mix Belongs In Your Kitchen Cupboard, Not Your…….!
Your Rolex watch in the kitchen cupboard … you’ve GOT to be kidding me! We have this thought process often as we find items in strange places when creating our nationally certified home inventory service. A kitchen cupboard is not a strange place to put a lot of things, but a Rolex watch? We discovered exactly that when documenting the kitchen cupboards for one of our customers. Back behind a bunch of vases, in the cupboard above the refrigerator, we discovered this watch!Record Contents Now to Ease the Claims Process Later
PRESS RELEASE
Nationally certified home inventory professionals help you remember and prove ownership when filing an insurance claim after a loss.
Tornado season has started early this year, and many reports are stating this country should expect a more than normal amount of storms and tornadoes in 2012. Seeing the current devastation in the Midwest, people are asking how those who suffered a loss could ever receive an equitable insurance claim.
While in the comfort of your home, without the stress of a disaster or pressure of a deadline, try to write down every item in the room. Imagine having to do that after you just suffered a loss – possibly a complete loss – of all contents in your home or business.
Next think about the CDs, DVDs, and video games. “Many of our customers are shocked when we tell them how many they own. Often, they underestimate by the hundreds,” explains owner Mike Hartman. At a low average of $15 each, and if just 100 were forgotten, this would equate to a loss of $1500. It’s easy to see how quickly a financial loss can add up, just on these 3 categories of items.
Adding to the dismay of disaster victims, there is a misunderstanding about how the insurance claims process works. The majority of people believe that if they have insurance, they will just receive a check without question. Not so, according to insurance websites. When a home or business experiences a loss, the insurance company will request a detailed list of each item lost or destroyed, along with a description. This requested information includes a model number and serial number for electronics and appliances. The time it takes to prepare this document, without being able to refer to a pre-disaster inventory, often can be months. Some state they reach the deadline and are required to submit an incomplete claim.
Hartman Inventory is a nationally certified inventory service that prepares this document of personal belongings prior to a disaster. This allows their customers to file their claim quickly, accurately, and thoroughly. A maximized claim enables the disaster victim to get back to where they were much faster and with more financial assistance than those who do not have a personal property inventory.
The process is a well-honed system that records the home or business belongings in a format preferred by the insurance companies. The finished portfolio is delivered within 10 days, with an option to also secure the information on an encrypted online backup service. This ensures the information is safe in the event of a disaster.
Due to the increased awareness of the need for an inventory, and the growth of the home inventory industry, the founders have developed a home inventory turnkey business package, Hartman Inventory Systems, to help others start their own inventory business. This business package includes an operations manual, hands-on training, a complete marketing package, continued support and mentoring, a business coach and much more.
About Hartman Inventory, LLC: Hartman Inventory is a nationally certified personal property inventory service provider, serving home owners, renters and small-to-medium businesses since 2004.
OMG! What is That in Your Underwear…..?
OMG! What’s that in your underwear drawer?
Surely it’s not a diamond necklace!
According to statistics, that’s one of the first places a thief would look. While lost or stolen valuables may not be able to be recovered, protecting and recovering their value is possible.
Smart people purchase homeowners insurance policies because it will provide the funds to replace the items stolen or destroyed. The person who can provide the tool to help you remember and prove ownership of these items – and all of your belongings – is a nationally certified home inventory professional.
The Burden of Proof
One of the most common misunderstandings about recovering from a disaster and receiving a proper settlement is that if you have insurance, you’ll just get a check in the mail for the amount of your coverage. Far too many people are unaware of the fact that it is not that easy – it is a long, painstaking process to file a claim if you aren’t prepared ahead of time.
No matter what disaster happens, from a few items stolen or every single item destroyed by a fire or tornado, you will need to provide a business or home inventory to your insurance company. This list is how they know how much to pay you. If you don’t include an item, you won’t receive settlement funds to replace it. This is a daunting task that can take months and months to complete.
A recent article on WSOC TV’s website, titled Items found miles away from tornado’s path, shows how complicated and difficult this can be. The recent tornado in York County, South Carolina, dropped household items miles away. People are recovering them and turning the items into the local fire department. OK, that seems easy enough – you’re thinking … just go over to the fire station and pick up your stuff, right?
The problem is, how do the firemen know who to give the items to? How do they know the items are really yours? “The storage area is being kept locked to keep the items safe. However, as courts get involved in disputes over the ownership of some things, firefighters can’t let anything be taken until legal decisions are made.”
How much easier it would be if these homeowners had an inventory! They could take their photographs and written report (which would include serial numbers and model numbers) to the local authorities to prove it’s theirs.
The term “burden of proof” is often brought up in the court system. It’s also a huge piece of the insurance settlement process. Compiling this information is worth the time and effort now, rather than when you’re sitting on a pile of timber, wondering if you’ll ever recover well enough to replace all that you owned.
After Fire Inventory Process Is Overwhelming
Unfortunately, we’ve been involved with a growing number of after-fire home inventories lately. Of course, there is the physical unpleasantness of the smell, the filth, the water-logged carpet, the water-logged insulation that has fallen from the ceiling, and the darkness in the house due to no electricity. Our most recent job included the fear of a ceiling falling in (where there was a ceiling, since most of the roof was completely gone).
It’s a horrible situation to look at a room and not even be able to identify one decorative item because all have been broken beyond recognition, melted, or completely burned to extinction. Many of the DVDs, CDs and video games are also melted and we’re unable to provide an exact count. I could go on and on discussing what won’t be able to be remember and recorded, but you get the picture!
Think, for just a moment, if this was you. No one wants to think about it; these fire victims didn’t. But now they are facing the need to provide an inventory of their belongings. How do you create a thorough, accurate inventory when you don’t have items to see, feel or touch? How do you list every single thing in your house when many are completely gone? How will you handle this while visiting the doctor for your injuries, needing to go back to work, dealing with the insurance company, working with the restoration company and feeling completely exhausted – physically and emotionally. Completely overwhelming!
Each time we are called to assist with an after-fire inventory, the home owners state they wish they knew about our company before this disaster happened. We’re doing our best to get the word out. Help your friends and neighbors – pass this knowledge on so people don’t have to say “I wish I knew before…” Though we do provide the inventory service after a disaster, we much prefer creating one prior to the loss. It’s much more thorough, which will, of course, help maximize your claim.
The Importance of an Annual Review
Most people know the importance of insurance protection. You don’t want to be without it when problems strike. What many don’t realize, however, is that protecting themselves with insurance isn’t a once and done event. You don’t wear the same pants you did when you were five years old. Besides no longer being in style, they simply don’t fit. A homeowner’s policy purchased when your house was furnished with bean bag chairs and bar stools is no longer going to “fit” once you’re lounging on Italian leather sofas while watching television on your wall mounted 54″ plasma screen. Life is constantly changing, and your insurance policies should reflect that.
Does that mean you have to immediately call your insurance agent every time you buy a new piece of furniture? Probably Not. While more significant changes should be discussed immediately (such as getting married, getting a new car, or adding onto your home), items such as improving your personal contents, can be discussed at your annual insurance review to make sure your contents are adequately insured. Agents reach out to you in hopes to avoid any gaps in coverage; however, it’s equally important for a policyholder to reach out to their agent to make sure they are covered.
When it’s time to update your homeowners or business policy, it’s also a great time to update your contents inventory as well. Having an up-to-date list and photos of what you own will be very beneficial if you need to file a claim after a fire, theft or natural disaster. This information will enable you to complete the claims process much faster, and help you create a more accurate claim. You’ll have the information required so your insurance company can help you get back to where you were before the loss.
Protect yourself, your family, and your personal belongings by making sure that each of your insurance policies gets an annual check-up. You’ll rest much better once you do.
Penwell Insurance is Focused On You™ and your specific insurance needs. Part of what makes Penwell Insurance so unique is that they have a one-of-a-kind custom insurance review process. Heather Penwell and the agents take great pride in knowing the value of educating clients on home, auto, life, health and business insurance. The agency is also very proud of their philanthropic efforts such as an annual Pumpkin Giveaway and the Thanksmas Food Drive. For questions regarding insurance in Indiana or Illinois, call toll free at 877.773.6935.
October Is National Stamp Collection Month
Do you have a stamp collection – one that you started years ago when you were in grade school? Or maybe someone in your family started one many years before that and it’s been just sitting in a closet for what seems to be forever. And then, of course, there is the possibility that you are a stamp collection enthusiast and have quite an extensive album or albums of valuable stamps.
October is National Stamp Collection Month. Do you know the value of your collection? Are they “just stamps” that you had fun collecting as a child, or is there a real gem that is extremely valuable? If you suspect this to be the case, it would be beneficial to have your collection appraised.
While on the topic, this information applies to any type of collection. Talk to your insurance agent. He or she can help you determine the best coverage. Two options are to increase the collection limit on your policy (average is $1000) or schedule the collection. Of course, any additional coverage will increase your premium, but once value is determined, it could be a very small price to pay for proper coverage.
Increase the limit
This will allow for replacement of your collection for more than the limit noted in your policy. There are a couple drawbacks to this type of coverage, however. First, you’ll need to prove the value of your collection. If you can’t do that, the insurance might dispute your claim and you will not be able to recover what you believe to be a fair settlement. Additionally, there are usually stipulations as to what type of loss is covered.
Schedule the collection
A schedule will list your stamps as a specific item on your policy. An appraisal will be required to determine the current fair market value. This process will ensure full replacement because you’ve already proven value and the insurance company has agreed on the stated value. (We suggest that you have it appraised periodically to retain the proper coverage according to the collection’s market value, determined by appreciation of the collection and inflation.)
If you have a stamp collection, or any other type of collection, talk to your agent to make sure you have the proper coverage that will best serve you when you are facing a loss and a need to file an insurance claim.
And, as a nationally certified home inventory service professional, we highly recommend you include photos of your collections with your home inventory!
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