Warwick, RI residents are not required by law to purchase homeowners insurance, but many lenders will require that their customers do so. It is also common for people without mortgages to obtain coverage, because it will offer indemnification in many circumstances and will serve to protect financial assets. Part of good fiscal planning involves the creation of a home inventory, and we will discuss this at more length.
Home Inventory Basics
A home inventory will make things easier for you and your insurance company in the event that you have to file a claim, and it will help the process go faster. It is important to keep this list as up-to-date as possible because this tool can help insurance adjusters accurately identify items that have been damaged or destroyed. A home inventory can also aid in filing property tax reports involving personal property losses, making it an essential part of every homeowner’s record keeping.
It is best to take photographs of everything you own, documenting entire rooms and taking care to focus on specific items that are of high value, such as pieces of jewelry, artwork, tools, and expensive equipment. Make a list on paper or on a spreadsheet of all your belongings, room by room. It is vital that you videotape your items and that you keep the footage on your computer and on a backup drive. You will want to keep copies of your photos, lists, and film in a separate location, such as a safety deposit box.
Talk to the Slocum Agency, Inc.
We at the Slocum Agency, Inc. can answer your questions regarding homeowners insurance, and we will be glad to offer you a quote. We have experience serving the Warwick, RI area, and we look forward to working with you. Contact us, and speak to one of our knowledgeable and friendly agents today!