Many people purchase Florida condominium insurance with the hope that they’ll never have to make a claim. After all, no one wants to think about losing their precious possessions and memories in a home-related disaster.
But if the worst does happen, it’s always good to be prepared. One of the best ways to ensure that you’re well-prepared is to keep a regularly updated checklist of your possessions in a safe spot.
When you lose everything, it’s hard to remember exactly what you owned, how much it was worth and when you purchased it. A checklist inventory allows you to do just this, and also helps you keep an eye on whether or not your insurance policy needs to be extended to cover your precious items.
When preparing your checklist, make it as detailed as you can, and be sure to include things such as books and clothing, as replacing a big book collection or wardrobe can be an expensive undertaking. When it comes to electrical equipment, appliances and other valuable items, keep receipts and a record of any serial numbers, and keep a photographic inventory as well. If you own a lot of expensive jewelry or high-value clothing like furs or couture designs, you may need to have additional appraisals undertaken and extend your policy accordingly.
What’s the point of keeping a detailed inventory? Well, the simple fact is that if you make a claim on your Florida condominium insurance, you may be asked to provide evidence that you owned the items you’re claiming for; and an inability to produce that evidence might result in a reduced payout figure.