Do you have a home inventory detailing all of your belongings? We get it — making a home inventory may sound like a daunting chore and you may wonder “Why bother?” or “When will I even use this?”. But trust us, making a home inventory is not as hard as you may think, and the benefits far outway the effort you put in! Here are some insights on why you need one and a few tips to make the process easier.
What is a home inventory and why do I need one?
A home inventory is simply a list of everything you own along with details about how much each item is worth. It’s a great way to keep track of the value of your total belongings and can help your independent insurance agent make sure you have enough personal property coverage on your home insurance policy. If you ever need to file a claim due to a loss like a fire, having a home inventory can also make the claims process so much smoother.
When should I make one?
If you don’t already have a home inventory, the time to make one is now! If you’re in the market for a new house, consider making one as you move into your new home, this way you can get your home inventory done as you unpack. Remember though, having a home inventory isn’t enough — you should regularly update your inventory as you make new purchases. Consider doing a refresh once a year, you can even make it a part of your spring cleaning process!
What should I put in my home inventory?
As you go through and list all of the items in your home, include the following details:
A brief description of the item — taking photo or video can make this faster
Make, Model or Serial number if applicable
The value of the item — if you have receipts, include them to make this easier
Date and location of purchase
Note any items that are antiques or irreplaceable
How To Make a Home Inventory
When making a home inventory, consider taking photos or videos to make this process easier. It’s important to be organized as you do this to ensure you don’t miss any items. Start at one end of your home and go from room to room and floor to floor. Don’t forget about spaces like closets, attics, bathrooms and basements. And remember, in the event of a loss like a fire, having a hard copy of your inventory in your home won’t be of much use. We recommend having a backup copy outside of your home, like at your office, in a safety deposit box, or stored digitally.
We hope these tips help make the process of making or updating your home inventory easier. If you have any additional questions about home inventories or your home insurance policy, a Cushman Insurance Group agent is ready to help! Visit our website to connect with one today: https://bit.ly/2QjAFjZ