If you suddenly had to replace everything you own, youâ€™d be surpised how quickly things add up. Creating a home inventory is a great way to find out how much insurance you need. Having one on file is also an excellent way to expedite the claims process after a loss. A Home Inventory is simply a list of the insurable items in your home and their value. If you do experience a property loss, your inventory will assist in the settlement of a covered loss or claim. Here are a few tips to help get you started.
Ways to Create a Home Inventory
There are several ways to create an effective home inventory.
1. Video Walk-through/ Photographs
This is the quickest and easiest way to document your belongings. Simply make a video walk-through or take a pictures of all the items in your home. For added security, and to come up with a bottom line, you can combine the photos with a documented list.
2. Computer Spreadsheet or Handwritten list
Create a home inventory spreadsheet on your home computer. This can add up the value you need for you, and you wonâ€™t have to worry as much about mathematical errors. If youâ€™re not computer savvy, or just find it easier, you can simply write everything down on a notepad. Just make sure that you have this paper stored somewhere safe! Make sure that you document as much information about each item as possible.
- • Brand names/Models
- • Serial Numbers
- • Date Purchased
- • Purchase Price
- • Receipts or Credit Card Statements, if possible.
What Items Should You Include?
When making your list, remember all the possibilites that are covered by your policy. Think of items that could be stolen to things that could be lost in a fire, etc. Itâ€™s best to consult your policy to make sure whatâ€™s covered and whatâ€™s not, but hereâ€™s a basic list to get you started:
- • Furniture
- • Appliances
- • Antiques
- • Art
- • Electronics
- • Jewelry
- • Appliances
- • Tools
- • Clothing
- • Computer/Home Office Equipment
- • Sports Equipment
- • Musical Instruments
- • CDs, DVDs & Video Games
- • Home Furnishings
- • Items in garage, basement/attic, etc.