High Fashion Insurance: How To Insure Your Prized Closet
Some people enjoy owning real estate, while other people enjoy owning personal items. If you are a fashion person, you may enjoy owning clothing most of all. Owning designer labeled clothing is not just brag-worthy for fashion rights, but it can cost a pretty penny. Even if you are renting a studio apartment, you will need to have high-level insurance coverage for brand named items that are worth thousands of dollars each. Here are some proper ways to insure your awesome prized closet.
Have your items appraised
You will have to have the appropriate amount of insurance in order to get your items back in the event of a disaster or if the items were stolen. Insurance typically has specific coverage levels and a usual payout if you make a claim. To get the appropriate coverage for your items to ensure the right payout in the event of theft or loss, you will need to get your item appraised. Have a professional appraiser, approved by your insurance company, certify that the items are authentic and provide the approximate worth of the items. To back up their assertations, you should keep the receipt of your items. Scan the original receipts and keep them inside of a locked file.
Properly secure the closet
Insurance will pay out on your items in the event of loss due to disaster or theft. If the items are lost due to negligence, your insurance company is unlikely to offer money for a replacement. Be sure that your closet has no fire hazards, such as candles that are close by and that the heater is not near any clothing, shoes, or purses that could possibly ignite. If you have purses that are worth hundreds to thousands of dollars, it is a good idea to have them inside of a locked cabinet. This will make theft harder, and it will keep the purses away from abrasive products and chemicals that could harm the surface of the purse.
Take updated photographs each year
Most insurance companies will offer you the diminished value of the products that have insured. To be certain that you will be able to collect the actual value of your purses, shoes, and fashion items, you should take updated pictures of the products. Each year, you should take pictures of each side of the items to show any degradation, scratches, or issues with the products. In the event that your items were in perfect condition when they were stolen, you will be able to recoup the appropriate value from your insurance company.