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Make Sure Your Valuables Are Properly Inventoried on Your Home Owner’s Insurance

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Recently,  clients had a break in while they were away from their home for an extended period of time. The thieves turned the place upside down and found the well-hidden family heirloom jewelry. Needless to say, the clients were devastated.

The items stolen can not be replaced  – and worse: come to find out, these items were not specifically covered by their home owner’s insurance. What happened? Didn’t the clients have these items covered? Yes they did before but when they moved into their new home out of state, their home owners’ insurance was not updated to continue coverage on the heirloom items, and therefore were not covered. 🙁

What should you do to prevent something like this from happening to you?

Here is an action plan to consider:

  1. inventory all of your assets
  2. take photos of all of your assets and do a video tour of your home and document the date
  3. get accurate appraisals of collectibles, jewelry, and other assets
  4. conduct a full insurance review with your financial planner/insurance matter expert team
  5. implement/increase coverages as recommended

This action plan can be taken (slightly modified of course) with all insurances. Document the risks, quantify those risks, and review & insure.

From AutotraderClassics.com - nice collectible!

Make sure your assets are well protected!

If you are facing a situation like this  and don’t know what to do, give me a call. We have helped people in many situations like this to inventory their assets and locate a competent insurance subject matter expert. If you would first like some questions answered give us a call – 781.393.0021 or send us a quick contact and we can go from there. Thanks for stopping by!

For more information about Chris Grande, Principal & financial planner,  click HERE.

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