A Home Insurance Update
Developing a home inventory is recommended by all insurers. A home inventory is the best way to account for all your personal property. Most people under-estimate the value of their personal property after a loss. Your homeowner’s insurance is designed to provide replacement cost (if purchased) in the event of a loss, so knowing the full value of your property puts you at an advantage.
The KnowYourStuff app is the official home inventory application (app) of the Insurance Information Institute. A home inventory can save time, money, and peace of mind, and can help you get the most value from your insurance in the event of a fire or other loss. This app also helps you understand the value of your personal property. “Need to see your stuff at a glance? The user-friendly dashboard has charts, tables, and graphs that show total value of your belongings by property, room, and collection.” (knowyourstuff.org).
Your homeowner’s insurance is an important financial tool to help you manage your assets. Why not make sure you take full advantage of your coverage by having a comprehensive list of your personal property and an up to date replacement value.