A Home Inventory Can Save You Time and Money
Whether you are a homeowner or a renter, for insurance purposes everyone needs an up-to-date personal inventory of your belongings. The contents of your home are covered up to a certain limit by your homeowner’s policy.
If you have a fire or burglary in your home, your insurance company will expect you to have a home inventory. An accurate record of what you own will assist you in proving your losses and itemize what needs to be replaced, including furniture, appliances, jewelry, electronics and art.
Creating a record will give you peace of mind that you do have the appropriate amount of coverage or raise a red flag for you to raise coverage limits. Lastly, a homeowners inventory is a perfect place to track purchases and documentation.
Creating An Inventory
There are a number of ways of creating a home inventory. At minimum you should have a written list, which can be stored on a USB flash drive in case your computer is stolen or destroyed.
This list should include details on size, condition and cost (with original receipts if possible). A video diary is an even better method; the pictures can be useful not just to the insurance company but also to the police in the event of a theft.
A Great Solution – Online Inventory
You also may want to invest in a safety deposit box to store valuable papers and documents. If your home is destroyed, your significant records will remain intact.
Putting together an inventory of all your possessions is time well spent.