Your Guide to Creating a Home Inventory
Although you’d seriously hope you never have to use it, creating your own home inventory would make filing an insurance claim easier. This is especially necessary if you’re keeping important and expensive equipment inside your home.
Disasters can happen when we least expect it. And by the time we realize what had happened, we are left to pick up the pieces of the destruction and rebuild whatever we are left with.
If you are one of the practical ones, you probably have an insurance policy to cover your losses. That’s something to be grateful for. Unfortunately, filing a claim can be a headache especially if you don’t have a clear idea of what possessions were lost. In a situation like this, the policyholder often risks not being adequately compensated.
You can prevent being in such a tragic situation by creating your own inventory. If you’ve just moved in a new home, starting an inventory could be less stressful. But if you’ve been living in your current residence for quite a while now, making an inventory could take a while though it’s a worthy investment of your time.
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Here’s how to do it.
Be organized. Of course, you have the whole house to search through. Just thinking about the task at hand can already dampen your spirit. A great way to get around this is to have a starting point. Maybe you want to begin in a small area within the house like the kitchen or the bathroom. Or, you can get started with your most recent purchases and move next to your older possessions.
List basic but important information. This includes where you bought the item, its make and model, how much it cost, and if you can, the serial numbers.
Check special coverage for special items. Most pricey items such as collectibles and jewelry are not covered by your standard homeowners insurance policy. If you own such items, see to it that you purchase a separate coverage for them. And of course, make your list in great detail.
List items in storage. It’s fairly easy to forget those that you don’t see. Before you finish off, make sure you have all those listed as well.
Keep the receipts. Receipts and other proof of purchases can be demanded by insurers when filing claims. These are emphasized for possessions that have high values such as gadgets and equipment.
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Use technology. Good old manual inventory making can take so much time, a resource not available for busy homeowners. So why not use technology at your disposal? Who says you need to keep them in handwritten notes?
Creating an inventory is made easier with your phone. You can take pictures of your possessions and adequately label each and every one of them. This makes noting those serial numbers easier. You may also opt to just capture them on video. Whichever strategy you use, it’s important that you also have these files backed up in case you lose your phone. Upload them in the cloud or keep them in a USB stick.
Another way to take advantage of tech for this purpose is to make use of inventory-making apps that will help you record your possessions down to the details.
Keep going. Keeping an inventory is not a one-time commitment. You need to update your list every time you make an important purchase. Be consistent.