By Stephen Holland, REALTOR, Blue Ridge Realty & Investments, LLC
Do you have a video of your home for insurance purposes?
For years loss experts have recommended videoing the contents of your home in case of burglary, fire or other catastrophic event. A video helps prove ownership of electronics, art, antiques, and other valuable personal property, making it easier for you and your insurance company to come to terms on the monetary value of what you have lost.
But what about your house itself? As technology advances, more and more homes have special features and upgrades added for comfort and aesthetics that may not be reflected in the value of “sticks and bricks.”
It might be a good idea to do a video for both.
The key here is detail and detail takes time, so set aside a morning or afternoon to go through your home room by room, not just once. but twice. Once for personal property, and once for the structure and its special features.
For the content video, record all items in each room. Each piece of electronic equipment should be described as you are filming it, for instance, “LG 86” Class 4K UHD 2160P webOS Smart TV” and if the item happens to have a serial number, both film and read the serial number aloud so the audio on the camera picks it up. Film furniture and accessories, paying particular attention to anything that is of special value.
If you have collectibles, film your overall collection, then do a quick shot of each piece in the collection with a brief description. Additionally, having a written, detailed list of your collectibles stored outside the home, or in the cloud is an excellent idea and the video can serve as back-up to that written record.
Video paintings and object d’art, as well as jewelry and any other items that would be costly to replace.
In a room like the kitchen, of course not every fork or spoon is going to have value, but showing drawers and cabinets fully stocked does demonstrate that your home is fully equipped. Be sure to get any specialty items and if you do have something high end, make sure that is noted in your video inventory.
Once you’ve completed the filming of your home’s contents, move on to the home itself. Presumably, your home is insured for it’s basic value. What you are trying to capture with this video are items that add value to the home and raise it above basic. Starting at the entry, go clockwise through the home and note special features that have added value to your home…high end appliances, custom woodwork, heated floors, any special features. Do the same with the upstairs and the basement if you have them. Then go outside and walk around your home and do the same out there.
Once you’ve done all of this, you want to do two things. First, and most importantly, store these videos outside of your home either on a flash drive in a safe deposit box or in a cloud where you can easily retrieve them. Second, make an appointment with your insurance provider and review the videos with your agent and make sure you have adequate coverage for your home…both the contents and the structure!
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