Home Inventory
The old adage “knowing is half the battle” probably wasn’t first uttered about Home insurance…but it still works! Because when it comes to covering your stuff, it’s important to first know what stuff you’re covering, right? And that means taking an inventory.
A full home inventory can do wonders for your Home insurance. It can:
- Help you figure out how much insurance to buy
- Speed up the claims process
- Help verify losses for your income tax return
What is a home inventory, and how is it done?
A home inventory is what it sounds like; a detailed list of everything in your home…from basement to attic, furniture to fixtures. If you bought it, it goes on the list.
For everything in the inventory, you’ll want to include a(n): Description of the item, Serial number, Purchase date, Estimated value
How you make the inventory is up to you though. You can write everything down in a notebook, make a spreadsheet, get super techy with cool inventory apps, or be creative and make a home movie of all your stuff (complete with a celebrity voice over). However you get it done, just make sure you’re as thorough as you can be! Physically walk around your house to build your list. You don’t want to do it from memory, because we’re all humans and our memory isn’t always spot on.
Go from room to room and organize your list that way. It’s faster and easier.
- Save receipts! You’ll want to describe the cost of your inventoried items, and receipts are much more accurate than guessing.
- Take pictures! Pull out that smart phone, disposable camera, or reliable old Polaroid and visually record the things on your inventory.
Once you’ve got your inventory (whatever form it takes), make sure to protect it. Store it in a safety deposit box, in a strong safe or lockbox, on a cloud storage service, or with a friend. Just make sure it’ll survive if there’s ever major damage to your home. Remember that’s what it’s there for!
From Farmers.com, by Corrin Trowbridge, Farmers-Trowbridge Insurance 650-876-9600, ctrowbridge@farmersagent.com, www.trowbridgeins.com
