Thursday, 23 August 2007

Why Seniors Need A Retirement Inventory

Helping You To Make Sure You Have An Inventory Of Your Hard Earned Possessions
Throughout Your Working Life You Will Have Worked Hard Towards Your Retirement!

Building Assets & Accumulating Personal Property!

No doubt your property & contents are insured against loss through natural disaster, accident or theft. You will also have a will in readiness for asset reallocation. You no doubt feel that you have done your very best in preparing yourselves, as you should.

Ask yourself these questions:

Are You 100% sure, Your Property & Content Insurance Cover Is Enough?

Are You Aware Of Your Net Worth? Are Your Heirs Aware Of The Value & Significance, Of What They Will Inherit?

To answer these questions with certainty you need to know what you are truly worth, with 100% accuracy! A simple way of finding this out, is to take inventory of what you own. This information will allow you to know, if your insurance cover is correct. Knowing your net worth will allow you to update your will.

Have You The Correct Insurance Cover?

Not having the correct insurance cover, is often termed under-insurance. It can be compared to having termites! Most Australian households discover this under-insurance after the damage has been done, when making a claim, never knowing it existed!

Allowing yourself on the other hand to stay one step ahead is not difficult. For those of you that are still working, you can hopefully cover the cost of loss over the forthcoming years. If you are a retiree though, it is going to be more difficult to cover that loss. Does is not make sense to be prepared? So that after a loss, life returns to as it was and with the same quality?

Adequate insurance cover is only available if the insurance supplier has the correct information. In other words a complete record or inventory of what you own. It may be said that often we assume that by some magic the insurance company, has peeked into our home and calculated the added purchases, that we have made over the last year. If you were create a list of these purchases, would they all be included the insurance premium? Most people when calculating these purchases have found themselves to be unknowingly under-insured! Not knowing this, they would have simply paid the 5-10% increase in annual premium, thinking all their household goods were covered! What a relief to know otherwise before a claim is made!

Climate change is the word on everyone's lips nowadays, with the media reporting an endless supply of disaster after disaster. Australia has had it's fair share of bushfires & floods over the last year. With the increase and severity of these natural disasters, it is no wonder that the insurance companies are starting to make the task of proving ownership the responsibility of the homeowner, before a claim is paid! It makes common sense if you are paying an insurance premium, that you know you are covered correctly and are going to receive a payout at the level you expect! Otherwise why are you paying the premium? Proof of ownership is easily demonstrated by recording item descriptions, serial / model numbers, receipts & warranties backed up by photographs and appraisals. Spending time NOW to create a home inventory is a smart idea! Helping to protect yourself and relieve the trauma of loss through disaster, accident and theft! In today's fast paced world the quickest and most accurate way to create this personal asset record, is to perform what is known as a digital photographic home inventory. This task is one of the many that a home inventory business can offer you. Getting the inventory done accurately, speedily and saving you the time!

The home inventory allows you to realise and eliminate under-insurance and creates an awareness of your net worth.

Increasing Your Heirs Awareness Of Their Inheritance
  • Are your heirs aware of the value of the assets they will inherit?
  • Are your heirs aware of the the importance and significance, of what they will inherit?
These questions are crucial especially when the family has heirlooms, cherished objects and other items of significance involved. Objects may have family history, special occasion memories, it is therefore important that your wishes for these item's value and ownership are fully understood and appreciated. It is best to rest assured that your heirs are not going to sell the family heirlooms for an undervalued price due to an unawareness of their value.

A simple way for this value and significance to be recorded is by a home inventory video. An audio / visual recording of the items stated in the will with commentary explaining these values, memories, significance and wishes. Many of us have heard stories of siblings that end up fighting over inherited items. Let your children's children see their grandparents explaining on video the importance of the objects around them and what it had meant to them.

Taking Inventory - The Art Of Preparation

To summarise what you need to do :
  • Make sure you are fully protected, prepared and in readiness for loss through disaster, accident or theft.
  • Know that you are paying the insurance premium so that your lives will have the best chance of returning to normal quickly after a loss.
  • Rest assured that the inheritance of your possessions is fully understood and valued.
So how do you easily and quickly get yourself prepared with a home inventory? Well you can take inventory of your possessions yourself. For many of you though this have proved to be a daunting task and often is never carried out. Or you can call a Home Inventory Service business to help you take the inventory for you.

A business that offers you affordable choices of Home Inventory Services is Aussie Home Inventories. They will professionally and accurately take a home inventory of your property and contents, leaving you with an inventory that is easily accepted by insurance companies and the authorities. Rest assured they are fully insured for your protection.

Whilst in your home Aussie Home Inventories will discuss with you fire protection devices such as smoke alarms, fire extinguishers, blankets and fire safes along with disaster preparation, and evacuation plans.

You have worked hard for what you have and it makes sense to be prepared and protected. Contact Aussie Home Inventories and find out how their Home Inventory options will help you get prepared.

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