Serving Clients in Lake County, Cook County and Chicago’s North Shore Suburbs
Wild fires, flood, thunderstorms, tornados, hurricanes and other natural disasters account for more that $43 billion in damage each year. These shocking figures are a stark reminder that it’s critical for you to understand how to prepare yourself for disaster and arm yourself with the proper tools to maximize your financial recovery in the event you are a victim of disaster.
Insurance companies, estate planners and top attorneys strongly recommend creating and maintaining a thorough documentation of the valuable property in your home and business. Statistics show that less than 1 in 5 individuals have an updated inventory of personal or business assets. Additionally this research shows that individuals that do maintain a detailed inventory recover substantially more when submitting an insurance claim after fire, theft or other misfortune.
Prepare yourself before disaster strikes
Before disaster strikes and you’re faced with a devastating loss, make sure that you have a detailed inventory of your personal property – pictures, details, receipts and records of the contents of your home or business. After all, would you be able to remember all the possessions you’ve accumulated over the years if they were destroyed, damaged, lost or stolen?
Having an up-to-date home inventory will help get your insurance claim settled faster, establish value of your assets, verify losses and help you purchase the correct amount of insurance.
Having an updated inventory of your home and business personal property satisfies the burden of proof that insurance companies require before settling a claim. If you ever need to file a claim, you may recover substantially more money by having a comprehensive, properly documented home inventory.
Most insurance companies will attempt to be helpful and generally cooperative when paying a claim, however they will not simply hand you a blank check without substantiated proof of ownership and value. It’s your responsibility to prove your loss, and having a documented record of each item along with photographs and a record estimated value will help to process your claim faster and maximize your financial recovery.
The Insurance Information Institute states: “The more documentation you have regarding your possessions, the better your insurance company will be able to handle your claim. And update your list after every purchase. If you take these advance precautions, you’ll be able to prove what you’ve lost. Your claim will be processed more rapidly and you’re more likely to collect in full.”
After the fact can be a challenging time to reconstruct this information.
Your insurance company will ask you to prepare a detailed list of the lost, damaged or stolen property and provide proof of what was lost, including photographs, video, invoices, serial numbers, model numbers and receipts to justify the value of your claim. Don’t wait for a disaster to strike before preparing a comprehensive inventory of your personal or business property.
Spyglass Home Inventory Service specializes in documenting, recording and archiving personal and business property. We can provide you with a comprehensive printed and digital record on CD/DVD of your home or business contents. This professional, reliable, third party, home inventory service is designed to maximize recovery on insurance claims, while helping to make the process more streamlined and stress-free.
Contact Spyglass Home Inventory today to schedule a free, no obligation home inventory needs assessment.
Spyglass Home Inventory offers Home Inventory and Business Asset Inventory Services throughout Chicago’s North Shore suburbs including both Cook County and Lake County in Illinois. We provide our residential property inventory, business asset inventory, asset protection inventory, estate planning inventory, divorce inventory and prenuptial inventory services to families and business owners in Barrington, Barrington Hills, Deerfield, Deer Park, Glencoe, Glenview, Grayslake, Gurnee, Hawthorn Woods, Highland Park, Highwood, Inverness, Kenilworth, Kildeer, Lake Bluff, Lake Forest, Libertyville, Lincolnshire, Long Grove, North Barrington, Northbrook, Park Ridge, Vernon Hills, Wilmette, Winnetka and other Northern Illinois communities.