Whether you own your home or rent it, and whether that home is a house or a condominium/ apartment, you need to make sure that your personal contents are insured.
People living in condominiums often have a false sense of security in thinking they are fully insured, but while the building itself is covered, the contents inside the individual units are not.
And while you may think you don't have anything of real value, consider how much it would cost if you had to replace your TV and electronic gadgets, all your furniture and all your clothes in one shot? Suddenly contents insurance makes sense ln the event of a burglary or afire, it's often difficult for victims to recall exactly what was damaged or has gone missing, For this reason you're strongly encouraged to set aside some time to create an inventory of all your possessions. Here are some tips for making your list:
. Consider making a room-by-room video recording of all your possessions.
. Create a written description of your contents, ln that list, include makes, models and product serial numbers.
. Recognize that unique or expensive items (such as jewelry) may require a separate insurance rider.
. Keep purchase receipts for all major items.
. Once you create your comprehensive inventory list, store it off-site, away from your home, in a safety deposit box, or at least save your written description to the cloud or a flash drive in case your computer is damaged or stolen.