If your home was completely destroyed in a fire, would you be able to recall each of your possessions and their worth? Just the thought of such a monumental task can be overwhelming. But this information can help simplify the claims process on your home insurance, along with helping you secure a settlement that allows you to rebuild and replace your possessions.
Ready to create your own home inventory? Just follow these ten tips!
Review your home insurance policy: It’s vital that you understand what your policy covers, which your independent insurance agent can explain. You should know if your policy covers replacement value or actual cash value of your possessions, along with any riders you may have for special items like musical instruments, jewelry or collections.
Take photos of your home’s exterior: You should photograph the outside of your home from several angles, including pictures of the landscaping and patio furniture.
Take photos of your home’s interior: Walk through your home room-by-room and take photos from several angles. These photos will document many of your possessions.
Don’t forget your closet: Your closet houses thousands of dollars’ worth of clothing, shoes, accessories and other items. Remember to document these as well.
Record all items: For each item of importance, document its estimated worth, where/when you got it and the manufacturer information/serial numbers. You can scan your photos (and any receipts you’ve held onto) and store all the information in the same file.
Update the inventory regularly: To get the most benefit, you should update your inventory annually. It’s also prudent to make updates after home improvements or very large purchases.
Carefully document collections: Certain items, like china or jewelry collections, may need additional coverage added to your policy. Make sure you thoroughly document them so you aren’t caught unprotected. Take pictures of each item from several angles, and the collection as a whole. Note any serial numbers and appraisals you may have commissioned.
Take photos around the garage: The garage is a common dump site in many homes, filled with tools, sports equipment, gardening equipment and more. Don’t forget to document these items after you go through the main parts of the house.
Storing the inventory: Make sure your inventory is stored in such a way that it will not be destroyed. You can save it to a cloud drive, email it to yourself and/or store it on a flash drive kept in a safe deposit box.
Talk with an agent: It’s also a good idea to send a copy of the list to your insurance agent. That way, he/she has it in the event of a claim, and it can easily be used to estimate the amount of coverage you should have in your home insurance policy.
We’re here to help protect your home. Call Reliable Insurance Managers at (713) 227-7283 for more information on Katy home insurance.