Homeowner’s Insurance – Create an Inventory
Imagine having to list the items you have in your home and the amount they’re worth. Most of us would struggle to do this; we would forget important items and assign the wrong financial value to the things we hold dear. In case of an emergency, an accident, a fire, or other disaster, you want to make sure that your insurance will cover the loss of your home and belongings.
One of the ways to strengthen a homeowners insurance claim is to create a home inventory of your personal and household belongings. An up-to-date home inventory can allow you to keep track of your belongings, how much they are worth, and what items you can look for after a disaster or other home accident.
The Basics of Homeowners Insurance
Homeowners insurance is a kind of property insurance that protects your private property. This kind of insurance protects homeowners financially in case of losses to a home, the contents of the home, personal possessions, and other liability that comes with owning a home and property.
Additionally, homeowners insurance can cover off-site storage units that may have some of your belongings. These items should be included in a home inventory list. By creating a home inventory of your belongings, you can make it that much easier to know how much your personal property is worth, how much insurance you need, and how to quickly file a claim in case of an accident or disaster.
To create a home inventory, you will need:
- A pen and paper
- A computer or phone
- A camera
- A video camera
All these items can be used to create hard and digital copies of your belongings so that you have an accurate record of what you own. Keep your inventory updated and backed up for additional protection.
Create Your Own Home Inventory
Creating a home inventory is easy if you’re moving into a new house, but it can be slightly more of a challenge if you have been in your current house for a while and have accumulated more belongings. As we go through our houses, it can be easy to get used to the things around us, or forget some of the things we have.
When creating a home inventory, the easiest way is to start small. Begin with a small area where you can easily take note of the objects around you without being overwhelmed. These areas could include a small storage closet, kitchen cabinets, or a laundry/mud room.
If you are moving or have just moved into a new house, you might find it easiest to inventory your items as you pack or unpack them.
When making your list, name and describe each item you are listing. You might be able to recall where you bought it, the make and model, how old it is, and how much you paid for it. If you have receipts for your purchases of these items, keep those with your inventory and make copies in case you need to make a claim. You may also find it helpful to record serial numbers on objects like your washer, dryer, dishwasher, and other important electronic equipment.
Inventorying clothes can seem like a hassle, but it can be the simplest part of the inventory process. List each category of clothing you have, such as shoes, pants, shirts, jackets, etc. Then list the number of each item you have and make note of any designer or particularly valuable items in your wardrobe. This helps create a full financial look at home much your clothes are worth.
If you have artwork, collections, jewelry, or other important items that are personally and financially valuable, consider getting those items appraised. This will give you an idea of how much they are worth and can help you determine how much insurance you will need to cover those items.
The Importance of a Home Inventory
A home inventory can be used to keep track of your household items, settle an insurance claim faster, verify personal losses for an income tax return, and help you ascertain how much insurance you should get in the first place.
If you get overwhelmed during the process, don’t worry! A partial list is better than no list at all.
We’re Here to Help
Call our office at (850) 942-7760 to learn more about all of our homeowners insurance and other personal and commercial insurance options.
Demont Insurance Agency, Inc. The Insurance You Need, The Assurance You Deserve.