Your home insurance does a lot of cool things. Yeah, it might seem like it’s just kind of there most of the time, but it’s protecting you from the possibility of financial loss. You might have some questions about what your home insurance covers – including whether home insurance covers personal belongings. We’ll explain how home insurance covers your possessions, how much personal belongings coverage you need, and the difference between replacement cost value and actual cash value coverage.
Recently we talked about why home inventories are vital when it comes to home insurance. Creating a home inventory helps you ensure that you have enough coverage for your home, and it makes filing a claim for fire or burglary much easier. Making a list of all of the belongings in each room of your house might sound tedious, but we’ve got a suggestion for a more tech-friendly way of conducting your home inventory.
If you’re familiar with GoogleDrive, you know that it’s an online file storage system that you can access from any internet-connected device. Anything you create or type into a Google document (simply called a GoogleDoc) within Drive is saved, and it’s a way to avoid keeping your all-important and all-inclusive inventory in your home where it could be destroyed.
Okay, we get it. Taking a home inventory is hardly an exciting way to spend a weekend. Walking around, writing things down on a clipboard…yeah, maybe not the most fun thing to do on a Saturday. But it is very important when it comes to your insurance. A home inventory is basically a list of all the items in your house. No one wants or asks for their home to be destroyed, but if the unthinkable happens and a fire or burglary strikes your house, you’ll be better off if you have a detailed list of everything you own.