Claims Corner: Your Home Inventory

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The best time to prepare for a natural disaster is when there is not one in sight and you can undertake effective planning without stress. Start by getting organized and doing simple tasks.

After a fire, burglary or another event in which you lose possessions from your home, it may be difficult to remember all of the details of your belongings. Having a current inventory of your possessions, including make and model numbers, may help you with any potential insurance claims. Taking the time to document your belongings now can help you recover faster after a loss.

Here are some steps you can use to help build your home inventory:

Step 1: Take the Time to Walk Through Your Property. Compiling a comprehensive home inventory takes time and effort. The more detailed your inventory, the more useful it will be if you have to make a claim.

  • Document possessions inside your home and on your property that may be of value. Shoot video of the contents, describing them as you go.
  • Open closets, cupboards and drawers
  • Note model, serial number of electronics such as computers, mobile phones, tablets, TVs, audio systems, etc.
  • Pay attention to china, crystal, and silver and take pictures.
  • Cover the garage and again take pictures of tools, equipment, sporting goods, bikes, etc.
  • Document family heirlooms
  • Keep receipts

Step 2: Keep Your Inventory in a Safe Place. Creating a digital home inventory and storing it off-site will help ensure that it won’t be lost, stolen or damaged during any disaster at your home. You can also create a photo or video inventory and upload it to a cloud-based service.

  • Label pictures of rooms and important individual items with a description, including where you bought it and the make, model and serial number.
  • Digital home inventory programs allow you to upload multiple photos of each item, including photos of the serial number, receipt and other identifying details. If you choose to create a paper version, consider storing it off-site in a safe deposit box.

Step 3: Update Your Inventory Often. When you make a significant purchase, add the information to the inventory while the details are fresh in your mind. This is also a good time to delete items that you have replaced or no longer own.

Step 4: Remember Your Business Assets and second home. While most people think of their home when making an inventory, it is important to document the contents of your business and secondary home, if applicable, as well.

Step 5: Consider Valuable Items. Valuable items like jewelry, art, and collectibles may have increased in value since you brought them into your home. Read your homeowners policy and discuss it with us to make sure that you have adequate insurance coverage for these items as they may need to be insured separately.

 

Give us a call to discuss your policy and review your options!