What is a home inventory and why should you make one?

Before you contact Commercial One Insurance Service about home insurance for your Burlingame, CA home, you should make a home inventory, a list, or a video of the items you own.

Providing your home inventory when you contact Commercial One Insurance Service helps us provide you with the most accurate information and quote. That’s because your policy can offer various levels of personal property protection. We base the amount of coverage on your current home contents.

When you create a home inventory, you document the equipment and household items you own. You also document their condition. If your home policy reimburses you for items at actual value, then you’ll receive the value of the items not at the value of when you purchased them new, but at the depreciated value. Your video home inventory can prove that your item held value because of the care you took of it.

You should update your home inventory with your insurance agent when you buy new big-ticket items. Since your insurance policy provides a dollar amount of coverage, you need to update it when you purchase new jewelry, hobby equipment, such as cameras, or sports equipment, such as a new road bike. This ensures that your home policy covers the items you own.

The same is true of sharing your home with a roommate, significant other, or spouse. When you add another person to the household, you also add their stuff. Until you update your policy though, it only covers the items for which you initially purchased the personal property coverage. You’ll need to add their items to your home inventory and update your insurance policy accordingly.

Contact Commercial One Insurance Service about home insurance for your Burlingame, CA today. We can help you obtain the coverage you need to protect your financial security.