I recently had a customer ask if a claim was ever made for personal property what is needed to actually obtain that amount to replace the covered items.
In a standard Florida homeowners insurance policy, there is a section called the “Conditions” section. In the conditions section is a paragraph called “duties after a loss.” This section outlines the duties of an insured – this would be the homeowner – after a loss, including personal property, and it says:
Prepare an inventory of damaged personal property showing the quantity, description, actual cash value and amount of loss.
The insurance company may also ask for supporting documents such as receipts, bills, and/or invoices, if applicable.
What if I don’t have receipts?
Many times, receipts can be hard to come by. Therefore, it is recommended that a video walkthrough of your home be performed as soon as possible. Or, at minimum, take pictures to document your personal belongings. Some homeowners choose to prepare an inventory prior to a loss so that it’s on-hand in the event a loss occurs at some point in the future. While this practice isn’t required, it’s definitely a good practice.
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