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Frequently Asked Questions

 
1.   What is a home inventory?
2.   Why do I need a home inventory?
3.   What should a proper inventory include?
4.   When do I need to establish a value for my personal property?
5.   Can a home inventory be used for other reasons besides insurance claims?
6.   How much does a typical inventory cost?
7.   How long does a typical inventory take to complete?
8.   What format should be used when making the inventory?
9.   Once I've done it, where should I keep the documentation?
10. Why should I use Our Video Legacy rather than doing it myself?
11. Am I required to be with the Inventory Specialist during the inventory process?
12. How can I schedule an inventory?
13. Must I give a copy of my inventory to my insurance company?
14. My house is messy. Should I wait until I clean up the clutter before doing the video?
 
 
Q. What is a home inventory?
 
A. A home inventory is a complete documentation of your home and any other structures (such as garages, barns and tool sheds), and all the personal property located in them or on the premises. The inventory should include your possessions as well as items owned by individuals who are also insured under your homeowners or renters policy. Families with students away at school should also inventory those items taken to school, as an additional precaution.

Other locations, such as vacation homes or rental properties, should have separate inventories.

An inventory should be prepared whenever you move into a new dwelling and should be updated on a regular basis, to keep track of new items, and to eliminate discarded ones.


 
 
 
Q. Why do I need a home inventory?
 
A. Being able to remember all of the contents of any one room would be quite an accomplishment for any of us, even in the calmest of moments. Remembering every single item in your house (including those in a basement, attic, garage, or shed) after a fire, theft, or other calamity, would be practically impossible. Yet that's what you'll be asked to do when you submit a claim on your homeowners or renters insurance. It's called a "Proof of Loss".

Unless you've previously prepared an inventory of your household possessions and property, you may be prevented from receiving full compensation from your insurance company.

In addition, having an inventory before a loss can save you scores of hours trying to recreate a list of your belongings for your insurance company.


 
 
 
Q. What should a proper inventory include?
 
A. EVERYTHING!! Most homes have a lot of small yet valuable articles that may not seem to be worth much individually, but collectively, these items represent significant value. Relying on your memory, especially at such a stressful time is not enough. Should you need to file an insurance claim against your homeowners policy, the documentation should show each and every item that was lost or damaged. When possible, we also record serial and model numbers for larger electronic equipment and appliances.

Copies of receipts, bills and other documents that support your claim may be asked for, so keeping those items in a safe place is still important.


 
 
 
Q. When do I need to establish a value for my personal property?
 
A. For a claim, the actual cash value (depreciated value) and the replacement cost of your property will be determined at the time of loss, but you may want to assess the value of your personal property before you have a claim to insure you have adequate coverage on your policy.

 
 
 
Q. Can a home inventory be used for other reasons besides insurance claims?
 
A. Certainly. Our inventory can be used for:
Insurance coverage reviews
Estate planning
Moving/relocation
Property management
Divorce settlements
Pre-Nuptial agreements


 
 
 
Q. How much does a typical inventory cost?
 
A. When you call to make an appointment, we will ask for some basic information about your home, such as the number of rooms, square footage, and if there is any special property you'll need to record. We will then provide you with a no-obligation cost and time estimate.

 
 
 
Q. How long does a typical inventory take to complete?
 
A. In most cases a thorough residential inventory will take 3 to 4 hours.

 
 
 
Q. What format should be used when making the inventory?
 
A. We prefer a combination of digital video (with narratives) and digital still photography. Then we make a copy onto a DVD or hard drive because they hold so much information, and will last for many years. But whatever format you use, the important thing is to JUST DO IT!

 
 
 
Q. Once I've done it, where should I keep the documentation?
 
A. It's important to be able to put your hands on it when you need it, but at least one copy of the inventory MUST be kept off of the premises! Some people prefer to use their bank's safe deposit box, others may choose to leave it with a trusted relative or friend.

 
 
 
Q. Why should I use Our Video Legacy rather than doing it myself?
 
A. You could do a home inventory yourself. But, as with other important family records - a will, a family photo album, an annual financial review - it often gets put off and neglected, until it's too late. Most people simply don't have the time, or feel that they wouldn't know where to begin.

We make the process easy, and even fun.



 
 
 
Q. Am I required to be with the Inventory Specialist during the inventory process?
 
A. Yes. Your presence and comments on the video (with our help) are an important part of the process.

 
 
 
Q. How can I schedule an inventory?
 
A. Email us at Info@OurVideoLegacy.com, or phone us at 617-969-2811.

 
 
 
Q. Must I give a copy of my inventory to my insurance company?
 
A. Not unless you want to, however giving them a copy after a loss should streamline the claims process enormously.

 
 
 
Q. My house is messy. Should I wait until I clean up the clutter before doing the video?
 
A. Somehow our houses never seem to get fully cleaned up. Don't let this get in the way of taking this important step towards your family's protection.


    
Why take chances with your personal assets? Our Video Legacy offers unique comprehensive documentation services in a professional, convenient and confidential manner, at an affordable price.

We respect your privacy. Our Inventory Specialists are trained and insured.

And, of course, your satisfaction is guaranteed.

Call today to schedule a time that's convenient for you!
 

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Loss Prevention Corner

Loss Prevention Corner is a compilation of hundreds of practical tips to help you reduce your chances of having a loss, or to minimize your damage if you do.

The tips are divided into categories such as Fire, Water Damage, Burglary, Identity Theft, and many more!


Weekly Tip: Be sure that your home is clearly designated with your house number so that the fire department can easily find your home in an emergency. Also be sure your driveway is passable at all times to allow emergency vehicles to reach your home.

For more about the Loss Prevention Corner (LPC), click here!