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Kansas Homeowners Insurance Companies Recommend You Do an inventory

— February 25, 2022

One of the main reasons that an inventory is made is so that the homeowner can review it after an accident or severe weather.

Homeowners insurance can cover many different things. This includes the house itself, attached pieces of property that may not be part of the main structure, and the owner’s personal belongings. If a claim is filed, the company will need some information about exactly what kind of damage happened before they will pay the policyholder. In the event that personal property or items inside the home are damaged, it can be difficult to provide that kind of information without an inventory.

Claim denials can still happen even if the owner has done everything right. When a homeowners insurance claim is denied, the claimant can get additional help from an insurance attorney in Wichita to review their situation. 

What is an inventory?

This is essentially a list of everything of value inside of a home. While the format of this inventory does not matter too much, there should be basic identifying details for each item, its approximate value, and its location in the home. While high value items should always be included, other things can be included as well, even if they do not have significant value. Items with very significant value may require some kind of additional coverage beyond standard homeowners insurance.   

One of the main reasons that an inventory is made is so that the homeowner can review it after an accident or severe weather. This should remind the claimant of everything they owned and the items that were potentially damaged, even if they were destroyed or lost during the incident. 

The value of a claim

Aftermath of tornado; image by Mick Haupt, via
Aftermath of tornado; image by Mick Haupt, via

Homeowners should be aware that a claim will not always pay out exactly what they lost. There is usually a deductible that must be paid out of pocket by the homeowner first before the coverage starts to pay for other losses. In terms of belongings inside the house, the provider will also factor in depreciation. For example, this means that an item that was worth one hundred dollars when new, would only be valued by the insurance company at fifty dollars if it was several years old. 

Claim denials

There are also some situations where a claim will not be paid out at all. Insurance companies can deny claims for all kinds of reasons. In some situations, the denial is legitimate because the homeowner may not have coverage for certain kinds of losses in their policy. Other times, the insurance company makes a mistake or acts in bad faith and denies a legitimate claim. Legal help is recommended after a claim denial. 

More help with insurance claims is a website that helps people who are having issues with homeowners insurance claims in Kansas and other states. The site contains listings of attorneys in every state in various practice areas. 

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