Why do I need a home inventory?
Because you likely don’t truly know what you own. And there will be times in your life when being able to recall or list your tangible personal property will be essential.
- Property Loss – A home inventory can speed up a homeowners insurance claim process. It can help ensure that you make a claim for all of your belongings if there’s a fire, tornado, flood or even theft. If you forget what you own, you won’t get reimbursed for what you lost.
- Property Division – No one anticipates a divorce but statistics show that 40 – 50% of marriages will end in divorce. A home inventory will ensure that personal property is identified and values established to help with the oftimes emotional process.
- Property Assignment – A home inventory helps with the process of distributing tangible assets from one generation to the next. Useful in estate planning, wills and trusts, a home inventory can help identify specific items that will be passed along according to the deceased person’s wishes.
Do most homeowners have a home inventory?
Unfortunately for them, no. A recent survey revealed only roughly 30% of homeowners have made a list or inventory of their possessions.
Of those individuals with a home inventory, almost 50% do not have receipts, photos or a back-up copy of the inventory outside the home.
Additionally, 59% of people with inventories have not updated their inventories in more than a year, meaning new purchases and gifts may not be covered.
Why can’t I do it myself and save money?
Like new years resolutions, DIY home inventories sound good but seldom get executed. To perform a proper home inventory yourself is difficult, time consuming and requires expertise many homeowners just don’t have. It just doesn’t get done. TakeStock can get it completed quickly and professionally so that you can mark it off your list and move on to DIY project you will enjoy.
Although intentions may be good, statistics show 70% of all DIY-related projects fail to meet their objectives.
(*http://www.umsl.edu/~sauterv/analysis/6840_f03_papers/frese/)
What is a 360º home inventory?
A 360º home inventory visually locks down the state of your home or business with a timestamped panoramic system that allows you view all items in the line of sight of the camera.
We utilize the latest Virtual Reality technology to create an immersive, interactive experience for our clients. When we create a 360 degree inventory, the client can move through their home online as if they were actually in the house. Our proprietary software allows you to interact with items that you wish to add to your inventory or even create videos that can be shown when others (such as grandkids) view your virtual tour.
I have insurance, why do I need a home inventory?
Insurance protects what you own, but only what you can PROVE you own.
A home inventory helps you not only provide proof of what you own and the value, but also helps you figure out if you have proper content insurance. More often than not, homeowners are either over-insured or under-insured, which also determines how much in premium you are paying.
*http://www.iii.org/article/making-sure-your-home-properly-covered-disaster
Does having a home inventory speed up the claims process after a loss?
One in fifteen insured homes has a claim each year. We have found that the length of time to settle a claim and the amount reimbursed are contingent upon the level of inventory preparedness.
(*http://factsoninsurance.com/how-to-make-a-home-insurance-claim/)
How can a home inventory be used with Estate Planning?
Helping our loved ones plan for what happens “after I’m gone” is an important process if not handled correctly causes undue stress on those left behind. The collected information within a home inventory can be marked according to how you would like your property to be dispersed and assigned. Death is an emotional life-changing event for families; having a detailed inventory with proper heir assignment can greatly reduce any burden on remaining family members.
How long will TakeStock be in my home or place of business?
The amount of time it takes to perform your custom inventory is directly related to the size of the property, the density of the contents, and the level of inventory desired. Time on site can range from as little as an hour, to two full days. It totally depends. However on average it takes no more than 3-4 hours.
Do I need to be present while you are conducting the inventory?
Yes, we need the homeowner, business owner or their representative on the premises while our team is there. Even though our representatives are background-checked, insured and bonded, we won’t perform an inventory without someone on site.
So who exactly is coming into my home and/or business?
TakeStock inventory specialists are background-checked, insured and bonded and will not conduct the inventory without you or your representative present while they are on site. Just as you hire other trades, such as plumbers, electricians, pest control technicians, etc. references should always be utilized. We encourage you to check our references which are available upon request.
Why do I need a 360º home inventory?
Because you likely don’t truly know what you own. A comprehensive home inventory is the only way to guarantee you won’t forget your precious belongings in case of home disaster or other calamity. It’s a small cost to protect your assets compared to what you stand to lose if you do nothing.
Do most homeowners have a home inventory?
Unfortunately for them, no. A recent survey revealed only roughly 30% of homeowners have made a list or inventory of their possessions.
Of those individuals with a home inventory, almost 50% do not have receipts, photos or a back-up copy of the inventory outside the home.
Additionally, 59% of people with inventories have not updated their inventories in more than a year, meaning new purchases and gifts may not be covered.
Why should I hire you when I can do it myself and save money?
To perform a proper home inventory yourself is difficult, time consuming and requires expertise many homeowners just don’t have. It just doesn’t get done.
Although intentions may be good, statistics show 70% of all DIY-related projects fail to meet their objectives.
(*http://www.umsl.edu/~sauterv/analysis/6840_f03_papers/frese/)
How does a home inventory help validate that I have proper insurance coverage?
A home inventory helps you figure out if you have proper content insurance. More often than not, homeowners are either over-insured or under-insured, which also determines how much in premium you are paying.
*http://www.iii.org/article/making-sure-your-home-properly-covered-disaster
Does having a home inventory speed up the claims process after a loss?
One in fifteen insured homes has a claim each year. We have found that the length of time to settle a claim and the amount reimbursed are contingent upon the level of inventory preparedness.
(*http://factsoninsurance.com/how-to-make-a-home-insurance-claim/)
How can a home inventory help me and my family with heir assignment?
The collected information within the inventory can be tagged according to how you would like your property to be dispersed and assigned. Death is an emotional life-changing event for families; having a detailed inventory with proper heir assignment can greatly reduce any burden on remaining family members.
In what capacity would a home inventory help with theft and natural disasters?
With loss and natural disasters, usually homeowners/businesses must provide “proof of ownership” for each and every item they claim was destroyed. With a TakeStock, visual home inventory, especially when backed up with upload-able documentation, you won’t have to guess or fight over the existence or value of lost and damaged items.
Last year alone, severe weather disasters across the country inflicted more than $43 billion in damage.
How long will you be in my home or place of business?
The amount of time it takes to perform your custom inventory is directly related to the size of the property, the density of the contents, and the level of inventory desired. Time on site can range from as little as an hour, to two full days. It totally depends. However on average it takes no more than 3-4 hours.
Do I need to be present while you are conducting the inventory?
Yes, we need a homeowner or business owner (or representative) on the premises at all times.
How do I know I can trust you in my home and business?
Agents are background-checked, insured and bonded and will not conduct the inventory without you or your representative present while they are on site. Just as you hire other trades, such as plumbers, electricians, pest control technicians, etc. references should always be utilized. We encourage you to check our references which are available upon request.