Does My Insurance Company Keep Track of All My Assets?

If you are someone whose house was recently damaged or destroyed by a storm, fire, or another natural disaster, you’re most likely very concerned about your future, financially and otherwise. Unfortunately for individuals in these situations, their houses are typically their most valuable assets, and having a home partially or totally destroyed can leave a person with nothing. Fortunately, there are certain things you can do to help ensure you receive the maximum compensation for any damage to your home. This includes taking an inventory of your assets. Insurance companies do not inherently know all the assets you own. If you do not take an inventory of your assets and they are destroyed in a storm, you most likely won’t receive adequate compensation for those losses. Please continue reading and reach out to our New York City property damage attorneys to learn more about how to take inventory of your assets and how we can help if your home was damaged by a storm or other natural disaster.

What does taking an inventory of my assets involve?

Taking an inventory of assets is easier than you may think. If you can, before anything bad ever happens to your home, you should list all the assets you own and assign value to them, if you know their book value. You may want to start with your most valuable assets, such as electronics, jewelry, collectibles, and other things of that nature. You should then list every other asset you’d like to be accounted for if it was damaged in a storm. There is no such thing as too long of a list. Aside from physically listing these items, you should photograph them in your home. Taking a video of you walking through your home and documenting all you own is a great way to preserve this information. Further, a video can help jog your memory of any assets you may have forgotten to include on your list. If you have any additional questions about taking an inventory of your home or obtaining compensation after your home was damaged or destroyed by a storm, simply pick up the phone and give us a call today. We are here to help you in any way we can.

Contact our experienced New York City firm

The Law Office of Craig A. Blumberg is an experienced New York City insurance law firm. If you require quality assistance after having suffered a property loss due to a fire, a flood, a severe storm or a robbery, please do not hesitate to contact our firm to schedule a free initial consultation. A knowledgeable attorney on your side in your time of need can make all the difference.