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Take a home inventory now—and be ready if disaster strikes
Take a home inventory now—and be ready if disaster strikes Homeowners insurance covers the cost (minus deductible) of repairing or replacing your home if it’s hit with a disaster. It also covers the cost to replace the things in your home that were ruined. The best way to make sure you’re properly compensated for these losses is to make a home inventory—a detailed list of everything in your home, with approximate values.
Home inventories aren’t just for wealthy people. Ordinary folks own lots of things that cost way more than they realize to replace. Think about the cost of a new bed—headboard, footboard, frame, mattress, mattress pad, pillows, sheets, blankets, bedspread. Now throw in the cost of a couple of TVs, your high tech devices, kitchen and laundry appliances, all the clothes in your closets and dressers, and you’re talking thousands of dollars. We haven’t even counted the rest of your furniture, lamps, vases, dishes, window coverings, what’s hanging on the walls, sports equipment, and power tools. After a disaster, you’ll need money for all these things to get up and running again.
Making a home inventory isn’t hard. Take the old school approach and go around your house with pen and ... more
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