Create a Home Inventory for Insurance

Create a home inventory before disaster strikes to make filing an insurance claim a smoother process.


Experiencing a theft, flood, fire, or other casualty loss is devastating enough. Now imagine trying to list from memory for your insurance claim every single item that was damaged or destroyed. The task becomes less daunting if you create a home inventory in advance and keep it in a safe place.

Creating a home inventory can be done with pencil and paper alone, but a digital camera and camcorder make the job easier. Set aside enough time to review your insurance policies, dig up receipts, document your possessions, and figure out where you’ll store your records. One day should be sufficient.

A home inventory is essential

From appliances, plates, and glasses to collectibles, rugs, and furniture, the average home is packed with an array of items collected over the years. And while you may be able to list many of them in a pinch, chances are you’d miss some important possessions if you ever needed to reconstruct your home’s contents from memory, says Mark Goldwich, founder of GoldStar Adjusters, a Jacksonville, Fla., claims adjusting firm.

“Home inventories are a must no matter what the value of the home’s items are,” says Goldwich. “If you’re going to insure your property and pay for that insurance, you really should be able to document the ownership and the value of the items that you’re insuring. If you don’t have proof of the items you owned, it makes filing your claim much more difficult.”

Your job doesn’t end once you’ve compiled a home inventory, a detailed list of everything in your household. Be sure to compare estimated values to your policy’s coverage to ensure that you’ll be able to replace your belongings in case of damage or theft, says Goldwich, who is the author of “Uncovered: What Really Happens After the Storm, Flood, Earthquake or Fire.” In some cases, he says, you can purchase additional coverage if the value of your possessions exceeds the limits on your homeowners, flood, or other disaster policy.

Take photos and video of possessions

Jack Hungelmann, author of “Insurance for Dummies,” says a picture can be worth more than just a thousand words—it can add up to thousands in cash if you ever need to file an insurance claim. Hungelmann recommends using a digital camcorder or camera to take pictures of each room to document your belongings. “I recommend that people open up their cupboards and drawers. Be sure you have a record of all the things you own,” he says.

Goldwich says that creating such a home inventory might seem daunting, but digital video—you can pick up a decent camcorder for about $150—can make the task much easier.

Homeowners can literally walk from room to room and record narrative descriptions of items. You should note whether something is an antique, for example, or if it has other qualities that make it especially valuable such as the size of a television screen or the type of stones in a piece of jewelry. Get close-up shots of serial numbers on electronics, power tools, and the like.

Filling in a printed checklist with serial numbers, brands, quantities, and estimated values will prove indispensible if an insurance claim ever needs to be filed. The adjuster will likely ask for such a list, and you can use the video or photos as proof of ownership. Download our free home inventory checklist to create your own.

Keep your home inventory safe

Of course, such documentation is useless if it’s destroyed in a natural disaster, consumed by fire, or stolen along with your personal computer. Hungelmann says that using digital media allows you to store the files on online backup services like Carbonite.com or iBackup.com in case your home is destroyed.

If you’d like to save the $10 or more per month these services typically cost, you could also save the files on a USB drive that’s kept in a safe-deposit box, at a relative’s home, or in your emergency bag. The bag should include essentials your family needs in case you’re forced to flee on short notice.

It’s also a good idea to keep a file with receipts and any appraisals of valuable items you own. Store these documents off-site as well. Goldwich says that the more documentation you have to prove what you owned and what it was worth, the easier the claims process will be.

Gwen Moran has been writing about business, finance, and real estate for more than a decade. Her work has been published by Cyberhomes.com, Entrepreneur, Financial Planning, Newsweek.com, On Wall Street, The Residential Specialist, and many others.


Read more: http://www.houselogic.com/articles/create-home-inventory-insurance/#ixzz1SqaLJqBx

Gigantic Home Under Construction in Missouri

HIGHLANDVILLE, Mo. (AP) __ A 72,000-sq.-foot private home being built in southwest Missouri will be one of the largest in the United States when it’s completed.

The Springfield News-Leader reported that the home is being built by Steven Huff, who has family ties in Missouri and is chairman of Wisconsin-based TF Concrete Forming Systems.

Not surprisingly it will be built out of the insulated concrete, manufactured and distributed by Huff’s company. Michigan-based Helix also is partnering in the project, providing the steel
reinforcement product that will be used.

Luke Pinkerton, founder of Helix, said the idea was to create a home that uses very low energy, as well as having strong resistance to tornadoes, hurricanes, earthquakes, fire, flood and insect damage.

“What we’re able to do is develop a home that has very, very good insulating properties for heating and cooling,” he said. “It’s very robust and strong.”

Called Pensmore, the home includes two elevators, 13 bedrooms, 14 bathrooms, a billiard room, a home theater, a music room and a 1,600-sq.-foot library. Blueprints submitted in 2007 show the main level and second story span 44,641 sq. feet. There are another 23,020-sq. feet in the basement, and the garage is 4,000 sq. feet.

Source: http://stlouis.cbslocal.com/2011/07/18/massive-home-under-construction-in-mo/?utm_medium=twitter&utm_source=twitterfeed

June Housing starts up 14.6% to 629,000

WASHINGTON (MarketWatch) - New construction of U.S. houses jumped in June to their highest level in five months, the Commerce Department estimated Tuesday. Starts rose 14.6% in June to a seasonally adjusted 629,000 annualized units, stronger than the 580,000 pace expected by economists surveyed by MarketWatch. This is the highest level of starts since January. Starts of new single-family homes rose by 9.4% to 453,000 in June, while starts of large apartment units surged 31.8%% to 170,000. Building permits, a leading indicator of housing construction, rose 2.5% to a seasonally adjusted annual rate of 624,000. This is the highest level of permits since December

Read the full story:
Housing starts rise 14.6% to five-month high

9 Tips to Protect Your Identity During a Move

Moving to a new home can expose you to the risk of identity theft, so take precautions to guard your personal information as you finance your new home, close and open new bank or utility accounts, pack, and move.

“Identity thieves are pervasive and creative in finding opportunities to steal information, and something as simple as forgetting to forward mail can put a consumer in jeopardy of identity theft,” said Steve Schwartz, executive vice president of Intersections Inc., a consumer identity protection firm.

Schwartz offers these nine tips for keeping identity thieves at bay during and after a move:

• Submit your change of address form at the post office. Then watch for a confirmation from the Postal Service confirming that your new information was correctly updated. Mail should start coming to your new address within 7 to 10 business days after filing; follow up at the post office if it doesn’t.

• Shred sensitive documents that you’re not taking. Don’t be in such a rush that you toss papers with personal information into the recycling bin.

• Monitor financial statements. Watch your bank and credit card statements for suspicious activity.

• Use reputable moving companies. Do your homework before you hire a mover. Read online reviews, research the company, and ask trusted friends, family, or real estate agents for recommendations. Check the mover’s reputation with the Better Business Bureau. Make sure it’s registered with the Federal Motor Carrier Safety Administration and has a U.S. Department of Transportation number before you sign any agreement or even get an estimate.

• Keep documents with you. Transfer all important physical documents that will be making the move, such as wills, stock certificates, bonds, etc., to a safe and secure place such as a locked box. Keep physical documents with you during the move and do not leave any secure receptacles for movers or others to transport.

• Lock down your computer. Devote time and resources before your move to make sure all computers in your home are hack-proof and packed and out of sight before movers arrive.

• Supervise the move. Make sure you are present for the entire duration of the move. Your presence could deter potential theft from occurring and ensure that the movers take good care of your personal belongings.

• Check your credit report. Take a look at your credit report for several months after you’ve moved. Any suspicious activity on the report may be a sign that your information has been compromised. If that happens, immediately contact the police, your banks, your credit card issuers, and have the credit repositories put a fraud alert on your credit profile.

• Verify mail is being delivered. After the move, verify that you’re receiving all mail from the list of senders you identified and contacted beforehand.

Source: Intersections Inc.


Read more: http://www.houselogic.com/news/articles/9-tips-protect-your-identity-during-move/#ixzz1Sa5GJvaL

Market Watch News Letter for July 2011

We have more good news to report based on last month’s local real estate activity. We closed more transactions in June than we did last June. That would not be so impressive, until one considers that June of 2010 was the last month in which buyers could close transactions and take advantage of the homebuyer’s tax credit. The real estate market has been out of the tax credit business for a full year now and it is clear that we are a better position today than we were a year ago. We are absolutely positive that we will close significantly more transactions over the next few months than we did over the same period last year. Based on June sales, our month’s supply of active listings is lower than it has been for 35 of the past 36 months. Properly priced listings are selling in today’s market. We would be happy to do a market analysis for you, or anyone you know who is considering selling their home.

As we have said many times, all real estate is local, and as proud as we are of how our market has recovered there are some other non real estate specific issues that have had a positive impact on our local market. First on a state level, Indiana has recovered far better than most states. According to The U. S. Bureau of Economic Analysis, Indiana’s GDP grew 4.6% in 2010 which was third highest in the nation. Partially as a result of decreasing the state’s corporate tax rate, Chief Executive Magazine ranks Indiana’s business climate best in the Midwest and sixth best in the nation. The U. S. Conference of Mayors recently ranked metropolitan areas based on the projected time at which they will have fully recovered to pre-recession levels. The conference studied the 15 largest Indiana metropolitan areas. Out of that group, the Evansville metro area is expected to recover the soonest.

We are always researching new ways to help our buyers and sellers. Next month we will be able to tell you about another new tool we are adding to give better service for your real estate needs. Feel free to contact me on my cell phone at 812-499-9234 or send me an email: Rolando@TheTrentiniTeam.com

Enjoy the rest of the summer and stay cool.

Indiana Landmarks: Greyhound Will Run Again

Indiana Landmarks is taking steps to restore Evansville's former Greyhound Terminal. The city of Evansville has contributed the 1939 building and $250,000 to the nonprofit effort.

Evansville, Ind. -- Indiana Landmarks today took steps toward getting Evansville’s Greyhound Terminal in running order. Pending board approval, the private, nonprofit organization plans to restore the rare building at the corner of NW Third and Sycamore Streets.

The City of Evansville primed the redevelopment pump by contributing the building and $250,000. Vacant for four years, the 1939 building is one of two remaining terminals from Greyhound’s “Blue Period” and the only surviving station clad in enameled-steel panels.

“Everyone loves this building,” says Indiana Landmarks’ President Marsh Davis. “Some have personal associations of arrival or departure, and others just love the streamlined Art Moderne design, the colorful exterior, and, of course, the speeding greyhound.

“This will be a challenge, however. The enameled-steel panels are an uncommon building material, and problems can be lurking unseen behind the glazed surface. We’ll tackle the roof first, and anywhere that water is penetrating, since rust is the great enemy of a building like this,” Davis declared. The preservation group must also remediate environmental problems.

The City recognized the terminal’s significance in acquiring the building in 2007 when Greyhound built a new facility. Indiana Landmarks congratulated the City for recognizing the value of the downtown gem.

“Modernist landmarks often face threats because people think they’re not old enough to warrant protection,” Davis noted. “We’re grateful to Mayor Weinzapfel and the Evansville Redevelopment Commission for their investment in our restoration.

We think it will take $1 million to put the landmark right and light the neon running dog, and we’re committed to raising the rest of the money,” Davis says.

Indiana Landmarks intends to open its southwest regional office in the terminal. The organization operates nine offices in the state, most in landmarks it owns. Earlier this year, Indiana Landmarks unveiled a new state headquarters and cultural center in a formerly vacant nineteenth-century church in downtown Indianapolis. The Cook family of Bloomington contributed over $10 million to the renovation. Next month, Indiana Landmarks will hold an open house at its newest acquisition, a 1941 bank building in downtown Terre Haute that houses its western office.

Since 1997, Indiana Landmarks has employed a preservation professional to serve the southwest part of the state, operating from a home office. Stewart Sebree has been in the position since January 2001. Indiana Landmarks hopes to add staff when it opens the permanent southwest regional office in the terminal. “The office will give Indiana Landmarks a greater presence in Evansville, and in turn give preservation a higher profile in the region,” vowed Sebree.

“Indiana Landmarks will work with the City and the community, and do our homework to make sure we find a sustainable use that gives the public access to this wonderful place,” Davis pledged. “We want to fill the terminal with a use that contributes to the economy and livability of downtown.” He has heard from some who hope for a winter Farmer’s Market in the building. Others vote for a restaurant.

The statewide preservation group has three Evansville residents on its 30-member board. Businesswoman Christine Keck, Evansville Living publisher Kristin Tucker, and developer Gene Warren will play a primary role in helping the organization raise the money to complete the project.

Source: Indiana Landmarks & InsideINdianaBusiness.com Report

http://www.insideindianabusiness.com/newsitem.asp?ID=48792

Tips for Preventing Heat-Related Illness

The best defense is prevention. Here are some prevention tips:

Drink more fluids (nonalcoholic), regardless of your activity level. Don’t wait until you’re thirsty to drink. Warning: If your doctor generally limits the amount of fluid you drink or has you on water pills, ask him how much you should drink while the weather is hot.

Don’t drink liquids that contain alcohol or large amounts of sugar–these actually cause you to lose more body fluid. Also, avoid very cold drinks, because they can cause stomach cramps.

Stay indoors and, if at all possible, stay in an air-conditioned place. If your home does not have air conditioning, go to the shopping mall or public library–even a few hours spent in air conditioning can help your body stay cooler when you go back into the heat. Call your local health department to see if there are any heat-relief shelters in your area.

Electric fans may provide comfort, but when the temperature is in the high 90s, fans will not prevent heat-related illness. Taking a cool shower or bath, or moving to an air-conditioned place is a much better way to cool off.

Wear lightweight, light-colored, loose-fitting clothing.

NEVER leave anyone in a closed, parked vehicle.

Although any one at any time can suffer from heat-related illness, some people are at greater risk than others. Check regularly on:

• Infants and young children
• People aged 65 or older
• People who have a mental illness
• Those who are physically ill, especially with heart disease or high blood pressure

Visit adults at risk at least twice a day and closely watch them for signs of heat exhaustion or heat stroke. Infants and young children, of course, need much more frequent watching.
If you must be out in the heat:
Limit your outdoor activity to morning and evening hours.

Cut down on exercise. If you must exercise, drink two to four glasses of cool, nonalcoholic fluids each hour. A sports beverage can replace the salt and minerals you lose in sweat. Warning: If you are on a low-salt diet, talk with your doctor before drinking a sports beverage. Remember the warning in the first “tip” (above), too.

Try to rest often in shady areas.

Protect yourself from the sun by wearing a wide-brimmed hat (also keeps you cooler) and sunglasses and by putting on sunscreen of SPF 15 or higher (the most effective products say “broad spectrum” or “UVA/UVB protection” on their labels).
This information provided by NCEH's Health Studies Branch.