Are You Buying Property Insurance For The First Time? 3 Steps To Getting Your Belongings Appraised

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Navigating the World of Insurance

The world of insurance is changing. While you used to have to meet up with an insurance agent in person to discuss your policy options, you can now begin a new insurance policy right online. When I first signed up for an auto insurance policy, I realized that signing up right online led to confusion when I didn't have an agent with me to discuss which policy was best for me. Thankfully, I realized I could chat with an agent right on the website. I then began researching insurance and learned a lot about many types of insurance during the process. I find the ever-changing world of insurance so interesting that I continue to research it and thought that I would help others by posting what I learn on a blog. I hope I can help you make good insurance policy decisions! Check back often for new posts!

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Are You Buying Property Insurance For The First Time? 3 Steps To Getting Your Belongings Appraised

13 October 2017
 Categories: Insurance, Blog


You work hard for what you own, and you even have a few cherished heirlooms in your home that you value more than anything. While you know that purchasing property insurance is essential for protecting the value of what you own, you are also confused by how to determine how much insurance coverage you need and prove what you own. Follow these steps to get your property appraised so that you have a full understanding of what it would cost to replace the items in your home should the worst happen:

Understand the Appraisal Process

In some instances, a renters insurance company may send an appraiser to your home. If not, then securing a private appraisal is an effective way to gain a better understanding of what your property is worth. Keep in mind that appraisals sometimes result in different values than what you might expect. For instance, an heirloom piece of china may be appraised at a lower rate than you think if it is still easily replaceable. Alternatively, that vintage piece of furniture may be worth more if it is no longer being manufactured.

Identify Potential Important Items

An appraiser will walk through your home to help you identify the value of the major items. However, it helps to be able to show them things that they might miss such as a valuable book that sits with others on your bookshelf. Make a list of important items that you think an appraiser should see so that you don't miss essentials such as jewelry or home electronics. Your homeowner's insurance coverage may also require an appraisal of the actual house as well so be prepared to give a full tour.

Make Copies of the Appraisal Report

After your appraisal, you will be furnished with a report that covers the main pieces of your personal property along with an estimated value of the total. Make copies of this report, and distribute it to your condo insurance company and any agent that assisted you with buying the coverage. Then, scan and store an additional copy in your digital documents, and place a paper copy with your other essential paperwork.

Whether you rent or own your home, it is important to know that you have the right type of coverage to replace your belongings if you experience a disaster. By knowing how to go through the appraisal process properly, you can be certain that you have secured the right amount of coverage to rebuild your household if you lose it all.

Check out a website like http://www.statefundhomeinsurance.com for more information and assistance.