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Creating a Home Inventory List

A service of  XXXXXXX Insurance Agency and the Professional Insurance Agents of Wisconsin

Homeowners and renters alike benefit from keeping an up-to-date list of their property’s inventory. Insureds should create and then periodically update such a list to protect themselves in the event of a loss. Having an updated inventory list is essential to ensuring that you carry a sufficient amount of homeowners’ or renters’ insurance coverage. It can also make a difference in how efficiently your claim is processed in the event of a loss.

One factor that varies widely by policy is how much of what an insured currently owns will be reimbursed. If you aren’t sure what your policy covers, contact your insurance agent. Additionally, the property of college students living outside their parents’ home in off-campus housing is often not covered on a homeowners’ policy, so consumers should consult with their agents about whether they need renters’ insurance to cover their collegiate children’s belongings.

Some essential items to include in a home inventory are electronics, like computers, laptops, tablets, e-readers, smartphones, and televisions; clothing and accessories; housewares and other home appliances, including kitchen appliances and sporting and other hobby-related equipment; and other valuables (jewelry, art work, collectibles, etc.), some of which may require an addition (known as a “rider” or “floater”) to a standard policy. A home inventory list is also a good way to keep a record of important documents, including birth certificates, passports, social security cards, etc.  Keep track of account numbers and any other information you may need in the event of an emergency.

Many technology-based resources now exist to ease the burden of this vital task. Thanks to smartphones, it’s easier than ever to narrate a video and/or take still photos of the interior of your home to accompany your inventory list. Once the list has been created, it should be updated regularly, and updating it should take less time than creating it did. Here are a few of the resources that exist to help you create a home inventory of your own:
 
National  Association  of  Insurance  Commissioners  (NAIC)’s app – This free smartphone app is available for Android and iPhone devices and enables consumers to make lists of their valuables, update said lists, and provide easy access to lists after a disaster. Using the app, consumers can store photographs/videos, descriptions, bar codes, and serial numbers of their valuables,  and all the information can be organized by room. For people who don’t use smartphones, the NAIC also offers a downloadable checklist that can be used to create a home inventory list. Both can be found at http://home.insureuonline.org.

Insurance Information Institute’s (III) Inventory app – This free smartphone app is available for Android and iPhone devices and enables consumers to add rooms, items, and photos or videos. It also synchronizes with Web-based software and can therefore be used anywhere via smartphone or computer. For people who don’t use smartphones, the III also offers a printable list, which is sorted by room and is a good way to start thinking about what needs to be inventoried, whether you use this list alone or in conjunction with one of the many available home inventory apps. The printable list can be found at http://www.knowyourstuff.org.

XXXXXX Insurance Agency is a member of the Professional Insurance Agents of Wisconsin

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Posted by on in Press Release

FOR FURTHER INFORMATION CONTACT:
Professional Insurance Agents of Wisconsin
6401 Odana Rd.
Madison, WI 53719

FOR IMMEDIATE RELEASE
                                                                      

Drones, Hoverboards, Kids Vehicles


MADISON, Wisconsin (January 4, 2016)    Drones, hoverboards and drivable electric vehicles for kids were hot items for Christmas. Be aware of potential insurance issues with their use.      

Some homeowners and renters insurance policies may not provide coverage for injuries or damage to property of others while using your new high-tech toys. Many, but not all, home insurance policies cover the operation of model aircraft which are not used to carry cargo.  Most home policies do not cover “motor vehicles”, except in very limited situations.  Some policies have an age or speed restriction on “motor vehicles” and also specify that protection may only apply while they are being operated on your premises.  Since both hoverboards and electric vehicles are powered by electric motors, they may fall under the definition of “motor vehicles”.

According to Ron Von Haden, CIC, Executive Vice President of the Professional Insurance Agents of Wisconsin (PIAW):

“Injuries and property damage do occur so consumers are encouraged to contact their professional insurance agent to be sure they are properly protected. Homeowners policies, renters policies and personal liability umbrella policies should be reviewed with your agent.”

The safety and insurance issues surrounding drones, hoverboards, kids vehicles and other exciting new toys are a good reminder to have your insurance protection updated periodically.  Does your agent know about the new toys, guns, artwork or jewelry you have acquired since your last review?  These issues also highlight the importance of a personal liability umbrella policy.

Click Here to download and customize the press release for your use.

PIAW members are professionals who protect homes, autos, and businesses from the everyday risks you encounter.  To find a PIA member near you, look for the PIA logo or visit www.piaw.org

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Posted by on in Press Release
FOR FURTHER INFORMATION CONTACT:
Professional Insurance Agents of Wisconsin
6401 Odana Rd.
Madison, WI 53719                                          FOR IMMEDIATE RELEASE
ATTN: Ron Von Haden
Phone (800) 261-7429
www.piaw.org


Homeowner Liability When Hiring Contractors Or Other Help


MADISON, Wisconsin (July 1, 2015)    Anyone you hire to help around your house, such as the neighbor boy who mows your lawn, a babysitter, a contractor or other outside services, opens you up to potential legal headaches.  If anyone is injured while performing work on your property, you may be financially liable for the person’s injuries and disabilities.

         “Many homeowners assume that their homeowners insurance policy will protect them If someone is injured on their property,” says Ron Von Haden, CIC, Executive Vice President of the Professional Insurance Agents of Wisconsin (PIAW).  “That is not necessarily true. Contractors such as builders or landscapers should be covered by their own workers’ compensation, health or disability insurance.  However, if they do not have coverage, you could be held liable.  That’s why it’s important to thoroughly check out any contractor you have working on your property.”

            “Some homeowners policies may provide limited coverage for the minors that mow the lawn and even domestic workers like maids, nannies or cleaners.  If yours does not, it might be a good idea to purchase an umbrella liability policy to supplement your homeowners liability insurance.  Discuss your policy and your needs with your professional independent agent to determine whether or not you are adequately covered.”

Click Here to download a customizable copy for your use.

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Professional Insurance Agents of Wisconsin
6401 Odana Road | Madison, WI 53719
Phone: (608) 274-8188 | Toll Free (800) 261-7429
Fax: (608) 274-8195 | Toll Free (866) 203-7461

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