Now that you’re spending more time at home, it’s a good opportunity to take a look around and make sure you have an accurate home inventory. This is the process of going around the house, room by room, and capturing a list of all of your belongings to make sure you have adequate coverage on your belongings.
Why create a home inventory checklist?
Though your homeowners insurance policy provides the protection that you need in the event of a loss such as a fire or burglary, your policy can only pay for items that you can document. In order to assure that all your prize possessions will be replaced, you should conduct a home inventory so you have a finite record of everything that you own. This inventory will assist you in determining which items were destroyed or stolen.
How should you conduct a home inventory?
To complete a full home inventory, walk through every room in your home and identify all of the contents. This is a great way to get the kids involved. They can help you take pictures or make a video of all of your possessions. Be sure to keep this media documentation with your list. Then, place all of this information into a fireproof safe or safety deposit box at your bank.
Periodically, update this list as you purchase more items for your home.
How does a home inventory list relate to my insurance policy?
Not only can a household inventory checklist assist you in the event of a loss, it can also help you determine whether you have enough insurance coverage. Your coverage should equal the cost of your possessions at today’s prices. Items such as jewelry, furs and fine art should be appraised on a regular basis to ensure that you have enough insurance to cover their high-priced value.
Once you have completed your home inventory walk-thru, we can help you determine that you have the right amount of coverage.