Frequently Asked Questions.
What is a Home or Business Inventory?
An inventory is comprehensive and thorough report which includes detailed descriptions, scans of receipts, photos and video of the personal property or assets in and around a home or business. It provides the required documentation that the insurance company will require when making a claim - which in turn, ensures a faster settlement and eliminates the need to dip into savings or your retirement fund when rebuilding your life. You will also receive a settlement covering the full extent of the loss.
What are the benefits of a documented inventory?
- Ensures you can immediately determine what was lost and prove ownership.
- Eliminates the risk that you will forget to include an item for reimbursement as all this information is collected prior to an unexpected calamity. If you forget to list an item - you will not be reimbursed for that item at a later date.
- Provides an objective and undisputable Third Party record of the contents of your home which lends credibility to your documents for law enforcement and insurance companies.
- Provides undisputable identification by Model and Serial Number for theft-prone items.
- The information collected through the Inventory service can be reviewed by your insurance agent to verify you have the correct amount of coverage.
Will I need to provide receipts on the items I have purchased?
Yes, receipts are an important component of an inventory. Sales receipts are invaluable and are often the first evidence the adjuster will request. Any sales receipts that you have, will be scanned into the documentation and be placed with the corresponding item description and photo. If sales receipts are not available, alternate methods of showing proof of purchase are canceled checks or credit card statements. If these are not available, an estimated value will need to be provided by the homeowner or business owner.
Do I need to be present while you are doing the inventory?
Yes, we request that you make yourself available while in your home or office. Every item documented will need to have some basic and detailed questions answered that only you will be able to answer.
How long does the inventory take?
The time to complete an inventory is dependent upon the size of the home, the amount of personal property you own and if you have a special collection requiring documentation. On average, a home takes 4-5 hours and 6-8 hours for a business.
How does an inventory benefit high-ticketed items?
An inventory provides proof of ownership and value of high-ticketed items so that you are reimbursed at that value. Otherwise, you will be reimbursed for standard items.
Do you inventory everything?
We do inventory just about everything. There are, however, some exceptions on certain items that do not need to be inventoried. In some instances, a quick photo is all that is needed to document an item or group of items. To preserve your privacy, we do not open boxes, drawers or closets. The home inventory is for you and you decide what is included or excluded. We can only advise you on what should be included.
Is it really necessary to include both video and photos?
Yes, it is in your best interest to include both. In order to prevent insurance fraud, claim adjusters are trained to look for inconsistencies. If you are able to show the item or items that are included in your claim in their room or office environment (video) and individual photo - your claim will go quickly and smoothly
What is the most difficult part of the claims process?
Experts state that one of the most difficult parts of the claims process is recalling destroyed or stolen items and papers.
Do you move furniture?
No, we do not move furniture. We will collect model and serial numbers from televisions, computers, stereo equipment, etc. where they are easily accessible without moving your furniture or causing a disruption to your home. We can take the model and serial numbers directly from your owner’s manuals if they are readily available. If not, we will photography and document the item in place.
Do you provide appraisals?
No, JLK Systems does not provide appraisals. We provide recommendations on what items should be appraised and can make recommendations on various appraisal companies. If you have items that need to be appraised but you do not have the time to do so, we can take that role on for you, at a fee that would work within your budget.
What do I need to do to prepare for an inventory service?
Have items in storage, unpacked and ready. This will speed up the process and save you money. Part of the billing for the service is based on time. Also, have receipts and appraisal documents available. In addition, there is some information that will need to be taken from your insurance policy, such as the name of your insurance company, agents name and contact information and policy number. This information is placed on the cover sheet of your report.
Does an inventory allow me to include beneficiary designation information?
Yes, it does. For each item listed on the report, you can include the name of the individual who you would like items to be left too.
How long will it take to get my inventory packet?
Your inventory packet will be delivered to your home within 5-7 days.
Can the inventory be updated once complete?
Yes, renewals can be done either annually or when a purchase has taken place. All renewals - either done via mail, electronically via email or a visit to your home - will be done at no additional charge - for year from the date of your initial home inventory service.
Where do I store this?
In a safety deposit box or a secured location not in your home. We will also store a copy of your DVD in the safety deposit box at our bank.
How can I be assured that my information is confidential?
As a bonded and insured company, we take your privacy very seriously and protect your information at all times. All information shared with us on your property and possessions is confidential and secure. Prior to the start of the inventory service, we sign a Agreement of Confidentiality to ensure your protection while we are in your home or during the storage of your data. During the storage of your data, all personal information is removed and you are identified by a secure and unique number.