Does My Insurance Company Know Everything I Own?

Does My Insurance Company Know Everything I Own?

There is nothing worse than having your home damaged by a storm or another form of a natural disaster. Not only is your most likely your most valuable asset, but it is also the place where you share memories with your spouse, children, friends, and relatives. Unfortunately, many people have to deal with the ramifications of a natural disaster, and if this has happened to you, the first thing you did was most likely turn to your insurance company for help. After all, you pay insurance premiums every month for just such situations. However, despite the fact that insurance companies exist, you may find it difficult to obtain the full compensation for everything you own, for various reasons. To start, you should understand that insurance companies do not know everything that you own. Unfortunately, this means that if you had not taken an inventory of your items prior to the damage, you may not have a way to prove the extent of loss you sustained as a result of the storm.

For this very reason, it can be incredibly beneficial to take a comprehensive inventory of all of your items before a storm ever happens, this way when the time comes, you will have hard and fast proof of the losses you’ve sustained, which, in turn, should result in you receiving far more adequate compensation than you may have received otherwise. Please continue reading and speak with our New York City insurance law attorney to learn more about taking an inventory of your assets.

How should I take an inventory of my assets?

There are many ways you can take an inventory of your assets. To start, it can be beneficial to simply list all of the assets you own, and you can also assign value to those assets if you know how much they are worth. You should include jewelry, collectibles, electronics, and more. Everything you own. There is no such thing as too exhaustive of a list. Once you have created a list, ensure you make copies of it and keep it somewhere safe. From here, you should also go around your home and take photos and videos of everything you own, as this can further supplement your initial list, and you may use it as proof to the insurance companies when the time comes. Furthermore, if you forget to include certain assets on your list, you can use your video as a reference. If you have any further questions, give our New York City insurance law attorney a call today.

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.