Those two words describe the people in Connecticut, New York and New Jersey, whose homes and businesses where wiped out by Hurricane Sandy last year. The fact is, about two thirds of the homes in the United States are underinsured. Most people who own homes are underinsured and non inventoried.
Sure you can inventory your own property (it’s better than no inventory at all) but it lends more credibility with the Insurance companies and provides for a smoother, faster settlement to your claim if it’s done by a professional third party. After we perform a complete home/business inventory the owner gets a dollar amount total in all of our reports. Some owners realize, after seeing their report, that they are not adequately covered and immediately make arrangements to amend their insurance policies to increase coverage.
Insurers sell the promise that they’ll “put you back where you belong”, but they don’t always deliver. Homeowners and businesses (policyholders) take the insurers at their word and rely on agents to set their policy limits at full replacement value. But when policyholders come up short, they are shocked to learn that the laws in most states give agents immunity for failing to fully insure properly.
Homeowners would be wise to update their insurance policy and home inventory at least on an annual basis. After each annual follow up inventory Fairfield Home Inventory will update your reports and safe store them, or you can store them off premises yourself, until the next update is requested.