Why Both Homeowners & Renters Need a Home Inventory

(INSWEB Oct. 2007)

Can you accurately list from memory everything in your house? How many necklaces and rings do you have, DVDs in your movie library, and exactly what type of digital camera you own? Most people struggle to answer such questions, let alone in a crisis situation.. This is why the need for creating a home inventory is so important!

A Basic Home Inventory:
If you haven't created a home inventory, thinking of starting one can seem like a monumental task, especially if you’ve been living in your home for a long time. While the best time to start your list is when you’re just starting out in your first home or apartment, or have just moved to a new home, it can still be an achievable task in that home you’ve lived in for several years. Just go through your house or apartment one room at a time.

Try to get serial numbers for the big ticket items, and write down when, where, and for what price you purchased each item. Make sure you remember to go into closets, cupboards, and storage areas and write down the items in these as well. While some items you own have depreciated in replacement price (televisions, electronics, furniture, etc.), some items may have increased in value (such as art, jewelry, and collectibles). You may need to insure these items separately; check with your insurance agent and find out if your current policy adequately covers these valuables.

Take Pictures or a Video of Your Belongings:
It is a good idea to take pictures or make a video of the items in your home. If you take pictures, write the details of the items on the pack of the picture. If you make a video, narrate as you walk from room to room (what items are in the room, when and where you bought them and for how much). Photographing or videotaping your home’s inventory can be especially helpful if items are hard to describe on paper, or for items you do not have receipts for.

Store Your List in a Safe Spot:
Make sure you store your list, pictures, and/or DVD or video tape in a safe spot. While it’s a good idea to have a copy at home, make sure you have at least one additional copy outside your home. If you only have one copy inside your home (or on your home computer) and your home burns down, that list won’t do you any good. If your inventory is on your computer, make a disk or CD and store it elsewhere, and/or send your list to yourself at work or to your web-based email account so you can access it in places other than your home.

Keep Those Receipts:
Many of us are not great at keeping our receipts for the purchases we make. Now that you’ve read this article, make sure you keep receipts from now on, especially for those big ticket items. These receipts will help you settle your homeowners or renters insurance claim as quickly as possible. And remember; keep receipts (or copies of them) in a place besides your home, along with a copy of your home inventory.

Important Information Regarding NC Non-Resident Adjuster Licenses!

Per the North Carolina Department of Insurance the continuing education requirements applicable to all non-resident adjusters for the North Carolina license continuation have changed. As of January 1, 2008 if you are a licensed adjuster in a state other than North Carolina and have kept your license in good standing in that state you shall be considered to have met the same continuing education requirements as resident adjusters. Through the National Producers Database (NPD), the state of North Carolina will confirm your status as a licensed adjuster. If the non-resident adjusters license is not in good standing in the appropriate state the non-resident adjuster’s license will be cancelled in North Carolina and a letter shall be mailed to the agent in the second quarter of 2008. Non-resident adjusters in North Carolina are required to meet the same continuing education requirements as those licensed in North Carolina, including the mandatory flood and ethics requirements.

The North Carolina Department of Insurance is in the process of updating their records and requires verification of the state in which you passed the adjuster examination in order to qualify for your non-resident adjuster’s license in North Carolina. You must complete the necessary form Non-Resident Adjuster Information and mail, fax or email it to the Agent Services Division for your licensing record and residence address to be properly updated. They must receive this form no later than February 1, 2008.

If you have additional questions you can contact the North Carolina Department of Insurance Agent Services Division at (919) 807-6800 or at http://www.ncdoi.com/asd/asd_home.asp

New course material for 2008!

2008 is already shaping up to be an exciting year! We are constantly striving to keep you up to date with the latest in insurance continuing education. Learnsinsurance.com is currently adding over 48 hours of new course content to all states! The following self-study online courses are now available:

· Homeowner’s & Dwelling Insurance
· Mold & The Insurance Industry
· Insurance Fraud Awareness
· Employer Practices
· Legal Responsibilities of the Insurance Agent
· New Trends in Life & Health
· Legal & Moral Issues

Please visit learninsurance.com and click on your state to get more information about the above offerings and your individual state CE requirements.

Titles Currently in Production:
Fundamentals of Risk Management
Fundamentals of Insurance
Fundamentals of Property & Liability Insurance
Understanding Risk Management Process
Risk Management Assessment & Forecasting
Understanding & Assessing Liability Loss Exposures
Claims Handling; Principles & Practices
Property & Liability Underwriting & Rate Making
Understanding Insurer Financial Statements

Please check back often for updated industry information and new course offerings!

Customer Loyalty

“Would you recommend us to a friend?” is the ultimate question that can predict the future success of a company or sales person according to best-selling author and financial expert, Fred Reichheld.

In his book, The Ultimate Question, published by Harvard Business School Press, Reichheld elaborates on how customer loyalty is more important than ever before and drives results in repurchase, referrals to other customers, feedback for future improvements and selling additional lines of products and services.

In a day when the “speed of thought” can be communicated at “the speed of light” the Promoters and Detractors that a company is creating can quickly communicate with and influence others. Reichheld has a simple formula for figuring if a company is manufacturing Promoters or Detractors. Here it is.

Customers rate the question, “Would you recommend us to a friend?” on a scale of 1 – 10 with 10 indicating they are Extremely Likely to recommend and 0 Not At All Likely to recommend. According to Reichheld responders in the 9 – 10 range can be classed as Promoters and anything below a 6 is a Detractor. The bottom line, according to Reichheld is that on average increasing a Net Promoter Score (NPS) by just a few points above a competitor can more than double a company’s growth rate.

As you see, the concept is simple and easy to use and appears to be highly effective. We hope this information will be of some help to you and assist in your own marketing and sales strategy. For more information we would refer you to the text, The Ultimate Question.

360training wants to be your educational and training partner and hope our performance is such that you would recommend us to a friend.