Daily Archives: November 21, 2011

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A homeowner
who has not yet created a home inventory is at risk of being underinsured or
being unable to support a claim for insurance compensation. An up-to-date home
inventory helps you accurately estimate the value of your belongings when you
review your New
York homeowners insurance coverage. It’s also a useful
checklist so that no item is overlooked if you need to file an insurance claim.

There’s no
set format or medium for a home inventory but many people find that using a
spreadsheet for the basic information helps with making rapid automatic
calculations of value and depreciation figures. 
Here are six easy steps towards creating a comprehensive home inventory.

1.   
Start by listing major possessions like valuable jewelry and
artworks and go on to list furniture, home appliances, collections and family
heirlooms.

2.   
Don’t forget to add commonplace belongings such as cutlery,
pots and pans, linen and bedding, hand tools, sports equipment, and clothing. Look
inside drawers and closets.

3.   
Photograph major items, record descriptions and other details
like age, model and serial numbers, purchase price and current value, and
attach copies of sales receipts and appraisal certificates if you have them.

4.   
Separate the list into logical sections such as by the room
in your home where an item is kept.

5.   
Store the home inventory and other associated documents in a
safe deposit box, fire proof box or online file.

6.   
Update your inventory annually and whenever you make a major
purchase.

Don’t be
deterred from creating your inventory because some documents like sales
receipts are missing; it’s far better to have an almost-complete inventory than
no inventory at all. Spend some time now to create your home inventory – if you
ever need to claim on your New York
homeowners insurance coverage you’ll be glad you did! With C.H.
Edwards Insurance, you can get the coverage you need with our agency. Contact
us today for more information!

*

A great winter vacation can be ruined by returning home to damage caused by severe winter weather.

Most New York homeowners insurance policies require that you use reasonable care to maintain heat in the dwelling, or shut off the water supply and drain the plumbing system while the dwelling is unoccupied for extended periods of time.

Taking Care of Your Water Pipes While On Vacation
Water pipes are especially vulnerable to damage during cold weather. Water pipes can freeze and burst. Pipes that are most vulnerable are located in attics, crawl spaces, and outside walls. There are several simple precautions homeowners can take to reduce the chances of these pipes freezing.
-Pipes that are accessible can be fitted with foam or fiberglass insulation sleeves, or wrapping. The thicker the insulation, the better. It’s important not to leave any gaps in the insulation that expose the pipe to cold air.

-All cracks and openings in outside walls and foundations near water pipes should be sealed with caulking or foam insulation. Recheck sealed areas, as caulking can crumble with age and let in cold air.

-Keep kitchen and bath pipes exposed to warm air from your heating system by keeping cabinet doors open during periods of extreme cold.

-If you have a crawl space, make sure the outside air vents underneath the flooring are closed.

-For short absences, allow all your faucets to drip a steady stream of water. It is important to remember that if both hot and cold water pipes serve a single faucet, each one should contribute to the water flow, since both pipes are susceptible to freezing. You may wish to consider draining your water system and shutting off the main valve for extended absences

-If you return home and suspect a pipe is frozen, turn on all faucets. If a pipe has already burst, turn off the water at the main shut-off valve and call a professional plumber immediately. (Keep your faucets open until the pipe is repaired.) Never try to thaw a frozen pipe with a torch or other open flame!