By inventorying your home, you will create a history of items that you have purchased or have been given. Many times, in the event of a loss, homeowners aren’t quite sure on exactly what they own, what model of something they might have purchased, or even how many of something they stored away. Creating this paper trail allows you to review your insurance needs better and prepare for the unthinkable.
Home inventory is an essential step in ensuring your property to the fullest. However, it can be an overwhelming task at first. By following a few important steps, you can start this process quickly and easily.
Begin in a confined area.
Start with your closet, china cabinet, kitchen counters, or personal handbag or backpack. Starting with these smaller spaces allows you to tackle the task in manageable pieces. You won’t feel overwhelmed.
Record the important things.
Make sure to record recent purchases; if you manage to keep the receipt or document the receipt, even better! Note labels, makes, models, and serial numbers. Be sure to keep a running tally on duplicate items.
Out of sight, but not out of mind.
Don’t forget storage units, sheds, and garages. Make sure you also record items in your attics, basements, and storm shelters.
Insure the big things.
Recently purchased jewelry, art, or machinery? Make sure you contact your advisor to get this specifically listed on your policy. These big-ticket items are best covered by including them in the policy itself or event getting a separate personal articles policy.
Technology is your friend.
This process can be a big undertaking. But don’t forget that your smartphone is your friend! Use your phone’s camera to take photos and record videos of your home. Create a category in your photo album specifically for your pictures and videos of your home. There are even apps for your phone specifically designed to help you with your home inventory. Don’t be afraid to download one and begin to utilize it right away. We suggest Sortly, you can find it in the iTunes App Store or in the Google Play Store.
Let us take it from there.
Send your advisor your videos and photos so that we can attach them to your file here at The Insurance Loft. By letting us keep the files for you, we can communicate directly with the claims team to resolve your claim even quicker.
If you have any questions or concerns, we can help you get started by pointing you in the right direction.
by Melanie Stout