When you purchased homeowner's or rental insurance, you were undoubtedly asked to create what's called a home inventory. The home inventory not only provides a record of your insurable assets, it also assists in verifying tax-deductible property loss claims. Beyond that, the home inventory is an essential tool for expediting insurance claims after theft, property damage or other losses and it can help you determine the amount of coverage you will need.
Because it is so important, here we show you how to go about creating, or updating, a home inventory for your family. If you already have one, you should always update it again in the new year to include all your new electronic devices, expensive jewelry or art, antiques, fine china, gaming systems and any other valuables you have purchased or received as a gift over the last year.
Bear in mind, also, that a home inventory can be simply created as a short list, or you can create a visual inventory with your digital camera or camcorder. However, for added security, it would be wise to do both. The home inventory list can be created on a simple sheet of paper or inserted into a spreadsheet. Either way, it should list the item, along with a full description (including make, model and serial number where applicable). Each item should have it's value and purchased date listed.
When you perform the visual inventory, you can achieve your goal through a series of pictures or through video footage. Just be sure to inventory items in detached structures, such as a shed or detached garage. Also, don't forget items stored in non-living spaces throughout the home, such as the attic, basement or attached garage.
It's best to organize the pictures or video by moving from room-to-room, highlighting the valuables found in each area. Credit card statements, receipts and other verification are also helpful, and you should update your visual (or written) inventory as you discard items as well. If you ever question which items are insurable, contact your insurance agent.
After you complete this task, be sure you don't just leave evidence of your belongings in your home. After all, if your home is destroyed by fire, your evidence goes up in smoke if you have no backup. Having a safe deposit box, cloud-based storage or other off-site storage method is strongly advised.
If you are seeking home insurance now, be sure to contact Little and Sons Insurance. Their experienced and professional agents have assisted homeowners in and around Beaumont for years in securing the things that matter most. There's no pressure or obligation, so call to get a quote today!
