When choosing a policy you need to decide between actual cash value and replacement cost. Actual cash value means that if you file a claim on an item. You will receive the value that the item has depreciated to and is worth today. Replacement cost means that regardless of what you paid for your item, if you file a claim you will receive the value that it would cost to replace the item today. It is more costly to add replacement cost to your policy, but it could end up being necessary in the long run. Unfortunately, not all items can be insured using replacement value. For example, antiques or rare items that are hard to replace and items that are outdated.
The best way to keep record of your insured personal property is to keep your receipts and to photograph everything of value. Ideally you want to keep a list of all of your insured items complete with photos, in a safe place outside of your home.
Latorre Insurance Group can help you decide what kind of policy will provide your personal property with the best coverage. Latorre works with a number of different insurance carriers, so you can compare prices quotes and coverage options and pick the best one for you. Latorre understands how important it is to protect your personal property, and will the process as easy as possible.
For more information on Latorre Insurance Group and their services visit their website http://www.latorreinsurance.com.