What is a home inventory and why do I need one

Nobody likes to think about the bad things that can happen to their home. Every year about 6% of all homeowners file a claim. Filing a claim is not something that anyone looks forward to. Lots of questions and paperwork are involved. About 98% of claims are for property damage, which involves loss of personal property. If you are one of the 52% of homeowners who have a home inventory, you will have a much easier time with your claim. At Anderson Atwood Consulting in Denver, CO, we are locally owned and operated with a mission to always put our customers first. 

A home inventory is a listing of your possessions. It makes it much easier when you file a claim if you have already documented everything. You don’t have to try to remember all of the things you had before your home was damaged, perhaps totally. Picture looking at a pile of ashes and trying to reconstruct what was in each room. 

Creating a home inventory is going to take some time, probably quite a bit of time. But the rewards that will come if you ever have to file a claim are so worth it. You have a couple of options. You can use a pad and a pen or create a digital inventory. No matter which option you choose, photos should be part of it. You also need to include as much backup information as possible in the form of receipts and invoices. Be as detailed as possible, and leave no surface out of the inventory. When you are finished, place the inventory in a safe place, hopefully off-site. 

At Anderson Atwood Consulting in Denver, CO, we are an independent agency, and we can offer you choices. Come by our office or give us a call, and we can give you a free home insurance quote. 

How to Structure Your Home Insurance in Denver

Your home insurance policy can look very different from your next-door neighbor’s, even though you’re located in roughly the same spot, exposed to roughly the same risks, and likely paid a similar price for the home. If you live in Denver, CO, it all comes down to the way that you structure your policy. Anderson Atwood Consulting is here to provide you with a few tips to understand more about the layout of your policy. 

Extras and Additions 

If you don’t own your home outright, you’re likely required by your lender to have some type of home insurance. However, most lenders are concerned that you get basic coverage for the property. If you want your possessions to be covered from damage or theft, including your electronics and jewelry, you’ll need to ensure that your policy is structured to give you that protection.

Also, you’ll need to consider the events that are listed on the policy. If your basement is flooded, does your home insurance cover it? What about if there’s a tornado? These questions may not be easily answered if you’re trying to page your way through a novel-length policy. 

A More Stable Structure 

The more stable your home insurance, the more stable your home will be. And while you don’t necessarily need to buy every form of protection in Denver, CO, you should at least know what you’re giving up before you sign on the dotted line. 

Anderson Atwood Consulting is here to help you give your policy a refresh, or we can also help you start from scratch if you’re buying your first-ever home. Whatever you’re looking for, contact us today to talk more about what the right policy should look like for your property.