Home Inventory Tips & Tools

According to a 2012 survey from the National Association of Insurance Commissioners (NAIC), more than half of Americans don't have a home inventory of their possessions, putting them at risk for inadequate home insurance coverage, should a disaster strike.

Home inventories are invaluable for showing insurance companies what you lost in a break-in, fire, or other catastrophe. “The information you place in your home inventory can make insurance claim settlements faster and easier,” said Ken Goodwin, California Licensed Property & Casualty Insurance Broker and Principal Owner of Pacific Preferred Insurance Agency in Oxnard. He added, “It’s also been a great way for us to determine whether our clients may need personal property limits higher than already specified in their policy.”

Taking pictures or recording video of the contents of your home is the recommended method of taking stock of your possessions, according to Goodwin. Armed with a digital camera or camcorder it's easy to shoot as many pictures or minutes of video as you need. Always take an extra few seconds to snap a picture or zoom in on the serial numbers and the important details of your possessions—flip a piece of china over to show the make, take a close up picture of a stamp or proof mark on an antique that shows the age and value, etc. Burn the pictures or video to a DVD and/or upload them to a secure account online to ensure you have them when you need them.

Know Your Stuff® - Home Inventory, the Insurance Information Institute's free online home inventory software is a good solution. The application makes creating and updating your home inventory easy and efficient. And with their free, secure online storage you will have access to your inventory anywhere, any time.

You can also download the new Know Your Stuff® — Home Inventory app to your iPhone. It is available in the iTunes App Store (or search for "III Inventory").

Information about your belongings, including adding rooms, items and photos, can be entered either through the iPhone app or through the Web-based software and your data will automatically synchronize between the two. All of your information will be kept in your personal, password protected account, on Amazon secure servers. And, like the online version, the Know Your Stuff® app is easy to use and free of charge.

If you would like to learn more you can visit www.knowyourstuff.org or www.pacificinsuresme.com

California Low Cost Automobile Insurance Program

In 2000, the California Low Cost Automobile Insurance Program (LCA) was launched as a pilot program in San Francisco and Los Angeles counties in an effort to address the problem of uninsured motorists in the state who were good drivers and demonstrated financial need. In the late part of 2007, the program was rolled-out statewide pursuant to California Insurance Code Section 11629.7.

The California Low Cost Automobile Insurance Program is administered by the California Automobile Assigned Risk Plan (CAARP) and local licensed insurance agents, or producers, certified with CAARP, are able to write coverage through the Low Cost Program.

Pacific Preferred Insurance Agency located in Oxnard, is one of just a couple agencies certified to offer this program in Ventura and Santa Barbara counties. Ken Goodwin, licensed agent and owner of Pacific Preferred Insurance Agency said, “We are happy to be part of this program and help good drivers in California secure liability insurance protection at affordable rates”. Goodwin went on to explain, “In these tough economic times, this program provides low-income families and individuals, the ability to meet California’s mandatory auto insurance law”.

California law requires drivers carry a minimum of $15,000 per person for bodily injury liability coverage, $30,000 per accident, and $5,000 for property damage. As part of the deal to lower the price of the policy, state legislators allowed carriers to lower the standard limits to $10,000 per person, $20,000 per accident, and $3,000 for property damage.

As of 2011, it is estimated that approximately 10,500 of California’s roughly 24 million drivers had insurance through this program. Goodwin feels that there are many more people throughout Ventura County alone that could benefit greatly from this program.
.
If an applicant qualifies, the current annual premium in Ventura County was $248 a year, $231 in Santa Barbara County and $347 a year in Los Angeles County.

Other requirements for drivers seeking the policy include:

•The driver must be at least 19 years old and have been driving for at least three consecutive years;
•Insurance applicants may have no more than one property-damage-only insurance claim in which they were at fault or one point for a moving violation within the last three years;
•The car being insured may not be worth more than $20,000;
•The insured may not be a college student claimed as a dependent for federal or state income tax purposes;
•The driver cannot have an in-force liability insurance policy for another vehicle.
There is also a 25 percent surcharge for unmarried males between the ages of 19 and 24, because this population segment represents the highest driving risk.

Competitive auto insurance rates in California may mean that additional coverage beyond the reduced liability limits of the LCA program are made available through the private auto insurance market. It is important to consult with your insurance carrier or agent to find the policy that works best for your individual needs.

If you would like to learn more, you can visit http://mylowcostauto.com, call CAARP at (866) 602-8861 or call Pacific Preferred Insurance Agency at 805-351-3851 and speak with Ken Goodwin, who is a certified producer/agent who can help local residents throughout Southern California.

*as of 02/15/2013 - subject to change