3 Reasons You Need a Home Inventory

A home inventory is a written or digital account of your personal effects along with documentation of their value. Inventorying your personal effects enables you to keep better track of your goods and keeps you up to date on your financial assets. Here are a few ways in which a home inventory can be to your benefit.

Personal Organization

If you’re like most people, you probably own quite a bit of material goods, making it difficult to remember them all. A home inventory helps you organize these goods digitally or on paper, so you will have an accurate account of your personal effects. Your inventory should include a list of your belongings, a brief description of each, date and place of purchase, receipts (if you have them) and photos that verify their condition and value. If anything should happen to your property, you can use this document to verify ownership and recuperate items that are lost or stolen.

Estate Planning

A home inventory can be extremely helpful in estate planning. Rather than go through every item in person, you can refer to your inventory when deciding what items to bequeath to family and friends and what items to donate after you’re gone. A well-organized inventory puts important information concerning personal assets at your fingertips when you need it most.

Insurance Claims

Home inventories can help simplify insurance claims. In the event of theft, damage or loss of personal goods from your home, you can present your inventory to an adjuster from Wellspring Insurance Network Inc. in Rockville, MD to verify your loss. Having your valuables documented for proof of ownership and value makes it easy to file your claim and recuperate your losses.

For more information on how to make and use a home inventory, contact us at Wellspring Insurance Network Inc. in Rockville, MD.

The One Secret to Saving on Auto Insurance

Have you every wondered how other people get lower auto insurance rates in Rockville, MD? There are many different things that can factor into this cost, but there is one thing that you have control over. This can save you a lot of money over time. Wellspring Insurance Network Inc. wants you to save as much as you can, which is why they recommend increasing your deductible.

Saving By Increasing Your Deductible

Your deductible is something that you will need to pay out of pocket in case you have a claim. It is something that you must pay before your auto insurance company pays anything. However, you will likely not have to do this very often and with the infrequency of paying a deductible, paying more for a lower one every month does not make sense. In fact, the lower your deductible, the more you can save every month. On average, you can save about 7 percent if you increase your deductible from $250 to $500. If you increase it from $500 to $1,000, you can save up to 9 percent every month. If you want to save up to 16 percent, you can increase it from $500 to $2,000. In case you are worried about having to pay this deductible and not have the money to do so, you should consider putting your monthly savings aside for a rainy day. Once you have this set-aside, you will continue to save money every month while being ready to pay the deductible whenever you need to.

Increasing your deductible can save you a significant amount of money over time. If you want to know exactly how much, be sure to reach out to Wellspring Insurance Network Inc. serving Rockville, MD today.