Recently we received a phone call from a client who needed out services. He was looking update his homeowners insurance and wanted to be sure he had enough coverage should a flood or other disaster hit their home.
This family is a large collector of many things. Some of these collections include coins, artwork, designer shoes and bags.
Besides the collections, their home is filled with items they bought on their travels or were given to them as gifts. Needless to say, everything was not only beautiful but also had sentimental value.
When I finished taking their asset inventory, the data, pictures, receipts, warranties and appraisals were all added into the completed report.
When the client received their compile report, they did not realize they were $60,000 UNDER insured on their homeowners insurance. This could have been a devastating scenario if something would have happened to their goods and they needed to file a claim.
I find it surprising and not uncommon that businesses and homeowners alike are not aware of how much it would cost to replace the goods they have. It is difficult to know all the assets you have without a complete inventory.
Whether you do it yourself or have a professional like Florida Inventory Services, be sure to compare it to your insurance policy to make certain you have enough coverage should disaster strike.
Be prepared, be safe and be ready
Related posts:
