Inventories & Appraisals of Personal Property

When natural disasters happen, they can be devastating, resulting in significant losses of personal properties. Perhaps you are not concerned about natural disasters, but you have many valuable pieces of art or jewelry. In that case, you may be worried about theft.

 

If your personal properties are insured, you can make a claim with your insurance company for replacements. However, how will your insurance company know what property you owned? Taking an inventory of these assets and having specific properties appraised is really a necessity. Talk to your insurance agent about what information that your insurance company will want included in your personal property inventory (such as list of items and original cost) and what items require appraisals (such as jewelry and fine art).

 

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