Having an up-to-date home inventory will help
you get your insurance claim settled faster, verify losses for your income tax
return and help you purchase the correct amount of insurance.
Start by making a list of your possessions,
describing each item and noting where you bought it and its make and model.
Clip to your list any sales receipts, purchase contracts, and appraisals you
have. For clothing, count the items you own by category (pants, coats, shoes,
for example), making notes about those that are especially valuable. For major
appliances and electronic equipment, record the serial numbers, which are
usually found on the back or bottom.
Don't be put off!
If you are just setting up a household, starting an inventory list can be relatively simple. If you have been living in the same house for many years, however, the task of creating a list can be daunting. Still, it’s better to have an incomplete inventory than nothing at all. Start with recent purchases, then try to remember what you can about older possessions.
If you are just setting up a household, starting an inventory list can be relatively simple. If you have been living in the same house for many years, however, the task of creating a list can be daunting. Still, it’s better to have an incomplete inventory than nothing at all. Start with recent purchases, then try to remember what you can about older possessions.
Big ticket items
Valuable items like jewelry, art work and collectibles may have increased in value since you received them. Check with your agent to make sure that you have adequate insurance for these items. They may need to be insured separately and it is important that your insurance company know about these items before there is a loss.
Valuable items like jewelry, art work and collectibles may have increased in value since you received them. Check with your agent to make sure that you have adequate insurance for these items. They may need to be insured separately and it is important that your insurance company know about these items before there is a loss.
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Take a picture
You can also take pictures of rooms and important individual items to have a visual record of your belongings. On the back of the photos, note what is shown and where you bought it or the make. Don’t forget things that are in closets or drawers. If you use your phone or a digital camera, you may also be able to add a description of the item when saving the photo.
You can also take pictures of rooms and important individual items to have a visual record of your belongings. On the back of the photos, note what is shown and where you bought it or the make. Don’t forget things that are in closets or drawers. If you use your phone or a digital camera, you may also be able to add a description of the item when saving the photo.
Videotape it
Walk through your house or apartment videotaping and describing the contents. Or do the same thing using a tape recorder. This can be useful for items such as clothing or kitchenware. You can simply open a kitchen shelf or closet and describe the contents. For instance, in the kitchen, it would be sufficient to state that you have a set of dishes for 12 that includes a dinner plate, salad plate, etch with when and where it was purchased.
Walk through your house or apartment videotaping and describing the contents. Or do the same thing using a tape recorder. This can be useful for items such as clothing or kitchenware. You can simply open a kitchen shelf or closet and describe the contents. For instance, in the kitchen, it would be sufficient to state that you have a set of dishes for 12 that includes a dinner plate, salad plate, etch with when and where it was purchased.
Create a digital record
Use your computer or mobile device to make your inventory list. There are many software options and mobile apps that can help you create a room-by-room record of your belongings.
Use your computer or mobile device to make your inventory list. There are many software options and mobile apps that can help you create a room-by-room record of your belongings.
Storing your list
Regardless of how you do it (written list, photos, computer hard drive,
flash-drive, or in the cloud), keep a record of your inventory. If it is a
physical document, store it along with the receipts in your safe deposit box or
at a friend's or relative's home. If it is a digital file, make sure to back it
up and keep a copy on an external drive or online storage account. That way it
will be easily available to give your insurance representative if your home is
damaged. When you make a significant purchase, add the information to your
inventory while the details are fresh in your mind.
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