One of the best tools utilized during homeowner’s insurance claim processing is a home inventory list. When your insurance carrier has information regarding the contents of your home and integrity of your belongings, it is a lot easier to determine how much should be paid on a claim. Setting up a home inventory list can be time consuming, but well worth it if you ever have a claim.
Set aside some time to complete your own home inventory and submit it to your carrier for their files. Here are some tips for your home inventory:
- Contact your homeowners insurance carrier to get specific home inventory forms if they have them. If they do not, you can use a generic form.
- Starting in one room, work your way through it writing down everything of value. Only move on to the next room when you have everything written down completely.
- Use a camera to take pictures of anything you have written down. You do not need to set up professional looking shots, but make sure you capture each item so it can be seen clearly.
- Take pictures or make copies of any receipts you have for your items.
- List collections such as records, figurines, or anything you have several of the same item together. (You may want to discuss your collections with your insurance agent to see if you may need additional coverage in addition to your homeowner’s insurance in order to have full protection. Your homeowners insurance limits may be lower than the worth of your collections)
- Do not limit your inventory to indoor property. Go outside and include outdoor items as well. Do not forget your lawn furniture or any décor you may have.
Once your home inventory is complete, submit it to your homeowners insurance carrier keeping a copy for yourself. If you ever make any changes, submit the changes as well to keep your carrier abreast if a claim situation ever arises.