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New York Renters: Create A Home Inventory Today

Posted on January 9, 2013

Without home inventory, insurers take longer to process claim and pay fraction of losses

Protect your items before disaster strikes by taking inventory. (Photo courtesy of Oyvind Solstad)

It’s a sad reality: Fire, theft, broken pipes and other perils are constant risks to renters’ belongings. Renter’s insurance can replace what you lose — but insurers need a detailed inventory to know what you’ve lost and what it’s worth.

It takes surprisingly little time or effort compared to the risk of not having one:

●   Take photos or video or both of all of your valuables, including make, model and cost. Make sure your photos are date- and time-stamped.
●   If you have heirlooms or expensive jewelry, get them appraised — they might have gained value. If you haven’t already, buy additional coverage for your jewelry, which renter’s insurance usually doesn’t cover, and keep copies of all appraisals in a secure place.
●   Keep your record and estimates in a safe location outside the home or online so it’s not damaged or destroyed. We suggest keeping multiple copies on external hard drives, Dropbox or iCloud.

Any questions? We’re here to help. Gotham Brokerage has been helping New Yorkers with their insurance questions for more than 50 years. Give us a call at 212-406-7300 or fill out the form at right.