The Importance of a Home Inventory
Posted on 7/23/2020
If a catastrophe was to strike your home, would you be able to remember all the possessions you’ve accumulated over the years? Probably not. In the event of a loss, the burden of proof of what you owned is on you. An inventory of your personal belongings not only provides proof, but allows you to judge the adequacy of your present coverage (do you have enough?) and helps ensure a faster settlement of any claims.
There are many ways to create an inventory of your belongings. You can keep a written log of your items, take pictures of your items, or take a video. A video is probably the easiest way to take a quick inventory because you can open closets and drawers and scan all the contents at once, describing them as you record.
Here are some tips to help in creating your home inventory.
- Include the make, model, and serial numbers of all major appliances and electronic equipment. Be sure to capture the serial number in your pictures or video.
- Categorize your items making notes about those that are especially valuable.
- Keep a copy of your inventory in the cloud or off site so that no matter what happens, you will still have a copy of your inventory.
- Identify items such as jewelry, antiques, musical instruments, coins, and artwork that have limited coverage on a home or tenant policy and may need to be scheduled separately. Ask your insurance agent for additional coverage.
- Regularly update your inventory!
Don’t be caught “underinsured” and/or unable to remember what you own. Call us today to discuss your homeowners or renters insurance policy.