season looming in southern
When you are initially purchasing homeowner’s insurance, describe your home in detail and ask your agent what will happen in the event of a fire. Does the policy cover smoke and water damage? Do an assessment of how much insurance is needed to cover both the structure and its contents. What contents are covered? What contents aren’t covered? You may be surprised to discover that fire insurance sometimes doesn’t cover home business office equipment, professional equipment and tools, or some valuable paperwork. If you need extra insurance but can’t afford the premiums, it may be worth raising your deductible to get the coverage you need.
To do an inventory, the Commissioner recommends using a Home Inventory Guide (available here) and a digital camera to catalogue your possessions. He recommends labeling photos and, if using a video camera, narrating the video. I recommend a video camera and then save the videotape in two locations, one of which is outside of the home. The inventory, pictures, and supporting documentation should be stored in a safe place.