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A completed "Home Inventory Report" helps to insure that you will receive a proper settlement from your insurance company in case of a claim. It is also much easier to show the police a picture of your missing property after a burglary. You can also get full service programs in many cities in the USA and Canada. Full service programs include a complete written inventory with digital pictures, which are placed on a CD (non-rewriteable so it does not get erased by accident). You can also have a complete video of your home.
The burden of proof is upon you. Remember that the insurance company is only trying to avoid fraud from claims. In reality, they are looking for a reason to pay people, within the policy limits.
You can add at least 25% (but often much more) to the value of your estate or to the value of your homeowner's insurance policy. By having a complete written inventory, pictures or digital pictures, and as many receipts as possible for your possessions, you will be way ahead of the game, when and if you have to file a claim. Most people have a camera or a digital camera, so with simple instructions they can easily do a complete inventory in a few hours. Statistics show that less than 20% of homeowners have an updated Home Inventory Record of all their possessions. A thorough Home Inventory Report will also insure that you have enough insurance on your personal belongings.
A complete inventory is also very valuable for estate purposes. You'll be sure that the possessions you've cared about all your life get distributed to the ones you want. It also ensures that your property will not be sold for pennies on the dollar.
Hans Peter Andersen is a Home Inventory Expert.
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