Frequently Asked Questions
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Question: What personal items should I include in my home inventory?
Answer: All your personal items located in your home should be included in your home inventory service. This includes items that are associated with a "hobby". Personal items such as your jewelry, antiques, artwork, collectables, furniture, appliances, computer equipment, televisions, musical instruments, yard equipment and tools and sports (hunting) equipment. Any items located at your home used for personal and not business use are considered personal items. The items may be stored or located at your primary residence, vacation (second) home, condo, apartment, nursing (assisted living) home, out building, storage (rental) sheds, recreational vehicle, boat and even an airplane. Any personal item you own and covered by your insurance policy or estate document should be included in a home inventory.
Question: When is the best time to conduct a home inventory service?
Answer: As soon as you can! It is your insurance on your insurance policy! Schedule your home inventory service before the unthinkable disaster occurs. Theft, house and forest fires, flash floods, tornados and sink holes can occur suddenly at anytime and without notice. A complete home inventory service conducted by an impartial third party such as AIC should conducted immediately. Then as personal items are added to or disposed of from your household inventory, an annual home inventory update should be conducted.
Question: How long does it take to conduct a home inventory?
Answer: Most home inventories can be conducted in a day. However, the type and amount of personal items that you have will influence the time required to conduct a home inventory service.
Question: What are some of the benfits of having a home inventory conducted by an independent third party such as AIC?
Answer: AIC uses an advanced video recording system that records your personal items, ID stamps and geo tags the recording at once. All completed home inventory recordings are certified by an AIC representative. At the end of the inventory, you be provided a "Certification of Inventory Recording". The inventory recording allows you to positively identify your destroyed personal items. This could increase your claim reimbursement compensation inaccordance with your home owners insurance policy. If necessary, you will be prepared to negotiate a fair settlement with your insurance adjuster. If you don't have proof of your possessions, you may not get reimbursed or you may only recieve reimbursement for the cost of a standard personal item. AIC's inventory recording may also facilitate faster claims reimbursement which can result in faster replacement of your lost personal items. You will have documented proof of the historical existence of your personal items provided by a credible and objective third-party. In the event of a theft, AIC inventory report could help increase your chances of recovering your possessions and could even aid in the arrest of the thief. AIC will be glad to work with your insurance agent to provide acceptable documentation.
Question: I am a first time home owner should I have a home inventory service performed?
Answer: Yes, this is the best time to get a home inventory of your personal items. You and your spouse can doucment your newly combined personal items. In addition, conducting a new home inventory of your items and reviewing the inventory record assists you and your spouse with determining if your homeowners insurance policy is providing adequate coverage for your personal items. You and your spouse may wish to increase or decrease your home owners insurance coverage of personal items.
Question: I own and lease a rental home, should I have a home inventory service conducted on my rental home?
Answer: Yes! Even an unfornished rental home should have a home inventory conducted by an independent third party, such as AIC. A home inventory of your rental home should doucment the condition of the fixed assets such as the appliances, carpet, walls, lighting fixtures and porch areas. More important, furnished rental homes should have a home inventory of all furnishings including the fixed assets. AIC's inventory report will depict the condition of rental property prior to a tenant moving in and taking possession of the home. The inventory report will help prevent disputes between you (landlord) and the tenant. A detailed recording of the pre-rental furnished items can protect both parties from any disagreements concerning the tennant's personal items and your rental home furnished items. A landlord's "Pre-Rental Home Condition & Inventory Form" can include the inventory report. You will be protected if the rental home is returned in a damaged condtion or there are missing furnished items.
Question: What are the benefits of having a home inventory report included in my Will, Trust, & Other Estate Legal Document?
Answer: AIC's home inventory report can be included in your Will, Trust or other Estate Legal Document. The report will accurately depict the bequeath of your personal items to your heirs. You can positively determine who will be the beneficiary of each personal item. This will help facilitate an orderly probate process. AIC would be glad to work with your Attorney or Estate Planner to provide you with an acceptable home inventory of your Will, Trust or Estate Legal Document.
Question: What are the benefits of having a home inventory report for filing taxes, preparing financial planning documents and asset valuation for loans?
Answer: AIC's home inventory report can be used to verify the existence of personal items for income tax purposes, especially if a disaster destroys the items or they are stolen. Providing an AIC home inventory report to your tax preparer may reduce your tax preparation time and cost. The use of a inventory report can be helpful in the preparation of a loan application to determine your net worth. FHIC will be glad to work with your tax preparer or financial advisor on an acceptable inventory report.
Question: Should I have a home inventory report conducted prior to my moving or transporting my personal items?
Answer: Yes. Prior to a move or transportation of personal items, an inventory report provided by AIC can document the existence and condition of your personal items. If the items are lost or damaged during the move or transportation, you will have a recording of the items existence and condition prior to the move or transportation. FHIC will be glad to work with you're Moving Company to provide acceptable inventory report.