Homeowners face a considerable amount of risk. While you might have the right homeowners insurance to fall back on, it’s hard to utilize your coverage when you don’t know exactly which household items you need to make a claim for. This is why it’s so important to have a home inventory to refer to. If you have yet to make your first home inventory, then here are some of the tips that you should try to get started.
List Your Possessions
While this is a time-consuming and seemingly overwhelming task, you should walk through your home and create a list of all your belongings. This list should cover all the items that you deem valuable including furniture, electronics, clothing, and so on. To make this task easier and more organized, you should go room to room and record everything within it. Take the time to note the condition, model, and estimated value of each item. If you still have receipts for your belongings, then include them in your home inventory file.
Record Each Item
As you go through your list of possessions, you should also have physical documentation of every item. This means taking photos or a video that shows the belongings you are inventorying. Do not forget to record the possessions inside closets, drawers, your basement, attic, garage, and so on.
Separate High-Value Items
Once you have made a list of all your belongings, you should separate out the possessions that are considered high-value. For instance, you should make a separate list that documents things like fine jewelry, antiques, family heirlooms, art, expensive electronics, and so on. This list should include each item’s make, model, serial number, purchase date, purchase location, and multiple photos. To protect these valuables, you might have to secure an additional insurance policy.
Once you have made your home inventory, it’s important that you make several copies of it. You should keep physical copies in a safe place at your home as well as with loved ones or an outside safe-deposit box for safekeeping. Additionally, you should store digital copies on your computer’s hard drive as well on cloud storage platforms so you can access it from any digital device. Having multiple copies of your home inventory ensures that you can access it under any circumstances.
These are some of the suggestions that you should try to make your first home inventory. Do you have additional questions regarding your home inventory or your homeowners insurance in general? Then contact the experts at Mike Leonard Insurance Agency. Our dedicated team is eager to find you the right coverage from one of our many carriers including: Kemper, MetLife, Travelers, The Hartford, Safeco Insurance, Progressive, and American Strategic Insurance.