Let’s be honest, no one wants to think about losing their home, and even though you might not live in tornado alley or next to hurricane central, it’s better to be safe than sorry. You might think, “I know what I have”, but do you really? If you were to make a list, how many things would you forget?
The fact is that taking an inventory of your stuff is essential to being properly prepared for a loss. Being able to list all of your items that were stolen, damaged, or destroyed will make everything much easier when it comes time to file a claim.
Creating a list of your items will help you and your insurance agent determine the best level of coverage for you. This list will also help your agent determine whether or not you have “big ticket” items that should be scheduled on the policy.
Conducting your own home inventory can sound like a daunting task but if you prepare ahead of time, it can really help. There are a few different ways of going about it.
- Video Inventory – walking through your house with a video camera can be a great way to compile a list of your stuff. Be sure to open all drawers and closets.
- Photo Inventory – detailed pictures of every part of your home. Again, be sure to open drawers and closets.
- Worksheet Inventory – Creating a detailed list of each bedroom, living space, kitchen, and even the garage can be a great way to itemize your property. List every item, top to bottom in each room and move on. This list should include quantity, quality, manufacturer, purchase date, serial number, and cost. Keeping receipts attached is a great idea.
I always suggest keeping these inventory sheets in an off-site location like a safety deposit box. If this is not an option or you would prefer us to house this information, that’s an option too!
The best time to create an inventory is now. There is no telling when a loss may occur but it is always better to be safe than sorry. I always suggest speaking with your insurance agent about any questions or concerns you may have.