A list of your belongings will make filing an insurance claim much easier!

In the event of a fire or other disaster, would you be able to remember all your possessions? Having an up-to-date home inventory will help you get your insurance claim settled faster, verify losses for your income tax return and help you purchase the correct amount of insurance. Here's how to create one.

Start your home inventory now
If you're just setting up a household, starting a home inventory is relatively simple. If you’ve been living in the same house for many years, however, the task of creating a list can seem daunting—but it doesn’t have to be. Get started here.

• Pick an easy spot to start – A contained area—like your small kitchen appliance cabinet, your sporting equipment closet or your handbag shelf—is a great place to get started.
• List recent purchases – Another way to start is with recent purchases—get into the inventory habit and then go back tackle your older possessions.
• Include the basic information – In general, describe each item you record, and note where you bought it, the make and model, what you paid and any other detail that might help in the event you need to make a claim.
• Count clothing by general category – For example, "5 pairs of jeans, 3 pairs of sneakers…" Make note of any items that are especially valuable.
• Record serial numbers – Usually found on the back or bottom of major appliances and electronic equipment, serial numbers are a useful reference.
• Check coverage on big ticket items – Jewelry, art and collectibles may have increased in value and may need special coverage separate from your standard homeowners insurance policy. While you're making your home inventory list, check with your agent to make sure you have adequate insurance for these items before there is a loss.
• Don't forget off-site items – Your belongings kept in a self-storage facility are covered by your homeowners insurance, too. Make sure you include them in your inventory.
• Keep proof of value – Store sales receipts, purchase contracts, and appraisals with your list.
• Don't get overwhelmed – Once you've started your inventory, keep going even if you can't get it all done immediately. It's better to have an incomplete inventory than nothing at all.

Use technology to make your home inventory easier
A simple pencil and paper will suffice, but technology can make creating a home inventory much easier.

• Take pictures – Create a photo record of your belongings. Capture important individual items as well as entire rooms, closets or drawers. Label your photos with what's pictured, where you bought it, the make or model—whatever information might be important to replacing and/or getting reimbursed for the item. Use your smartphone or digital camera—some give you the capability to put in the description of the item when saving the photo.
• Tape it – Walk through your house or apartment videotaping and describing the contents. For example, you might describe the contents of a kitchen cabinet: "Poppies on Blue by Lenox, service for 12 that includes a dinner plate, salad plate, bowl, cup and saucer. Purchased in 2015."
• Use an app – There are many mobile app options that can help you create and store a room-by-room record of your belongings.

Keep your home inventory up-to-date and safely stored
Your home inventory is only useful if it's accurate and you can access it to provide information to your insurance company in case of fire, theft or other destructive disaster. Regardless of the medium you've used to create your list, keep it backed up and in a safe place.

• Add significant new purchases to your list – Make it a habit to add the item information and receipts to your inventory while the details are fresh in your mind.
• Store a copy of your paper inventory outside the home – Keep it—along with applicable receipts and appraisals—in a safe deposit box or at a friend's or relative's home. Make at least one backup copy of your inventory document and store it separately. An easy way to make digital backup copies of your paper list is to take pictures of it on your smartphone.
• Backup digital files – Keep a copy on an external drive or online storage account.
• Understand your app – Be sure the information you input is backed up by the app developer and that you know how to access information when you need it.

Next steps: After you've taken your inventory, learn how much homeowners insurance you need.  

4 Things to Consider When Changing Your Auto Policy

Whether you are adding a vehicle or a new driver, updating your address, or considering a new insurance provider entirely, the process of making changes to your auto policy can be intimidating. Read on for things to keep in mind when adjusting your auto policy.

1. Let Your Independent Agent Do the Work for You
As with any important decision, consider talking to a local expert who can help you navigate the decisions involved in switching to a new car insurance company. While paying the lowest possible rate may seem attractive at first glance, any responsible agent will explain that getting the coverage you need should be one of your top priorities.

For example, if you frequently drive with your dog in the backseat, you might ask your agent whether or not your dog is covered in the event you are in an accident. A professional independent agent can recommend an auto insurance policy that automatically covers any potential pet medical bills if you get into an accident. Not all insurance companies include this coverage. This is an example of how protecting what matters most to you is more important than the savings you get from buying insurance online. The foresight to look ahead and anticipate coverage needs is one of the many benefits of working with an independent agent.

2. Ask the Right Questions About Insurance Carriers
It’s important to balance between being price-conscious and making sure your insurance needs are met. To ensure you receive the correct coverage to meet the needs of you and your family, ask these questions when you speak with your local independent agent:

• Is the company well established? Companies that have been around for many generations and have experienced consistent growth are more likely to offer you insurance knowledge and a wide range of options.
• Is the carrier financially stable? Check the A.M. Best ratings to find out. A.M. Best is the industry standard for determining an insurance company’s financial strength and stability. An A++ Superior rating means you never have to be concerned about the financial stability of your insurance provider.
• Are you likely to receive personable and courteous customer service? As part of a service-driven industry, every car insurance company should make responsiveness a key focus, but that’s not always the case. Consider whether the company has received any consumer awards from a respected magazine or an industry research service like J.D. Power. 
• Are claims handled locally? Look for convenience and communication in your quest for the best insurance provider. Local, accessible agents can be invaluable, especially when you’re navigating a claim. When your agent turns your claim over to a claims representative, it is more convenient if that person is local, too.

3. Mind the Policy Gap
Timing is everything as you don’t want to be without coverage between policies. Fees might be involved if you change insurance providers mid-policy term, or discounts may be offered if you shop for a renewal prior to your expiration date, so you’ll want to plan your insurance switchover accordingly.

Failure to avoid a gap in coverage can have serious legal and financial repercussions, especially if a disaster strikes when you’re between insurers. Additionally, a lapse could mean that insurance carriers will charge higher premiums in the future. 

4. Follow Through
Once you’ve switched, make it a point to stay in contact with your local agent. Make sure that your previous policy has been canceled. Avoid billing mistakes and credit bureau issues by obtaining written confirmation from your previous insurer that your policy has been cancelled.

If you are moving to a new state, plan to visit with your insurance provider. Because insurance laws vary by state, you’ll want to complete changes prior to your move.
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With the right insurance carrier watching out for you, making the switch should be a straightforward process. And, Theodore & Associates is always here to help!