Why do we need to complete the Household Goods Valued Inventory (Declared Value Coverage)?
In order to properly insure your items for replacement value a Valued Inventory (Declared Value Coverage) form is required. This allows you to accurately determine the value of your goods in the case of damage or loss. In the event that you do experience loss or damage to an item, you can either produce a purchase-receipt for the item, or the insurance company can verify the replacement value of the most common items in your home.
If you chose the All Risk insurance type, and in order to properly insure your items for full replacement value, a Valued Inventory form is required. This allows you to accurately determine the value of your goods in the case of damage or loss and provides the insurance company with a list of goods to be covered. In the event that you do experience loss or damage to an item, you can either produce a purchase-receipt for the item, or the insurance company can verify the replacement value of the most common items in your home.
