Fall Household Insurance Inventory Check List:

With the holidays looming it’s the best time to double check your photography and video equipment to make sure it’s in good working order. A great way to do that is starting a digital household inventory. By starting this project now, you will also be ready to take inventory of your special holiday items. With all the modern tools we have there is no reason any of us should put this project off. Most people reading this Blog are already talented enough on the computer to find the information you need, chat and share pictures. In order to completely understand … Continue reading

Personal Property Inventory Documentation.

In the past several Insurance Blogs, we have been working on a personal property inventory for homeowner and renters insurance claims. The Room-by-room list should be done and a list of the type and amount of personal property kept in each room of your household has been started. A snapshot of the general clothing supplies for each person should be documented and now it’s time to look at the electronic equipment and other items which have serial numbers. Using the room-by-room list add the details about any electronic items in each room. Record the type, make and serial numbers of … Continue reading

Insurance 3-Steps for the Single, 20-Something, College Graduate

Watching our children grow up and become adults is one of the greatest parts of parenting. My oldest daughter graduated from Oregon State University with honors last month. I was in awe of the results of my labor, I doubt our children have any idea how proud we really are when they achieve the greatness we dreamed possible! I have written several Blogs about insurance for our older teenagers and young adults. The best advice I can offer is that you continue to insure your child until they are defined by the financial aide office as “independent.” This is usually … Continue reading

How Much and What Kind of Insurance Do We Need?

There are two main reasons everyone will be required or needs to consider purchasing insurance in order to manage their personal risks. In most cases the legally required insurance will cover for liability or property damage where we ourselves are not the one who will be financially protected. Required Insurance Generally Includes: Legally required financial responsibility auto insurance. Most states set a minimum dollar amount of required liability insurance in order to register an automobile. The minimum requirement is for damages a person may cause to someone else’s property or injuries. Loan and Financing Required Insurance is most common for … Continue reading

Five-Tips to Prepare For Hurricane Season

There are areas of the country that are susceptible to hurricanes and the damage they cause. The predictions for the Atlantic Hurricane Season for 2007 recommend everyone be prepared for a more active and intense season than usual. It’s a good idea to follow the scouts motto and always be prepared if you need to be ready for hurricane season follow these 5-tips! Tip #1 Review your homeowner insurance policy: It’s a good idea to talk with your insurance agent or company and make sure you have enough insurance to rebuild the house and structures and also replace personal property. … Continue reading

Ten Things to Know About Mold Damage

Mold damage is usually the result of some kind of major water damage or exposure to water. Insurance generally only covers a mold claim if there has been damage caused due to an insured Peril. A broken water pipe, a wind storm that tears part of the roof away and water seeps into the structure. Water damage caused when there is a fire and the home is soaked to prevent the fire from spreading. Insurance doesn’t pay for Mold claims that happen gradually over a period of time, or damage caused by wear and tear. There are some insurance companies … Continue reading

Creating the Quote Request Letter: Cover Page

Welcome, to my personal insurance Review and Update! So far I have worked out the details of our Personal Assets and gathered all the relevant paperwork, and have all the current insurance policies, details, appraisals and other documentation. I won’t actually need most of this paperwork to start the Quoting process, but want to have the chance to review everything and have the papers all in one spot if we do decide to change our insurance carrier. It’s not uncommon especially for Auto Insurance to be asked to provide proof of prior coverage. I also have my household inventory completed … Continue reading

Insurance Review and Update: The Important Paperwork

In this series of Blogs I am sharing my own Personal Insurance Update and Review. So far I am still in the gathering stage. I am working on determining our actual Assets since this is one of the most important things for our family to protect. Now I need to find all the important papers. Lucky for me my husband files everything and never tosses out any important documents. Of course, the 15 boxes of papers we keep stored is a different issue–but, sometimes I don’t mind! When reviewing our insurance I am actually very happy to have all the … Continue reading

“A” Homeowner’s Insurance Bill of Rights.

In California part of the Insurance Code includes a Residential Property Insurance Bill of Rights. Other states may not actually spell things out so clearly and make a bold statement in the Insurance Code, but I think every property owner should. This is my version of the Homeowner Property Insurance Bill of Rights. The most important and largest investment most people will make in their life time is the purchase of a home and the personal property they put into it. In order to protect this asset, homeowners should take time to understand the homeowners insurance market. Take time to … Continue reading

Insurance Appraisals

Overstated, over valued and false appraisals contribute to billions of dollars every year in fraudulent personal property claims. Insurance claims fraud is a real problem for both consumers and insurance companies. Insurance companies have become more concerned about the accuracy and competency of, jewelry, fine art and special personal property appraisals. Appraisals for jewelry, fine art, and collectibles should outline the compensation a policy holder will receive in the event of a loss. Appraisals also help the insurance company rate the risk and qualify it for insurance coverage. An insurance appraisal should also: Prove you own and you are in … Continue reading