How To Create A Home Inventory
Floods, fires, break-ins, moves, oh my! You can never be too prepared for the unexpected. This week, we’re going to give you the low-down on keeping a home inventory.
So what exactly is a home inventory?
A home inventory is a detailed list of valuable contents within your home. What do you keep on this list you may ask? We’ll get into more of that later, but remember those precious jewels you’ve inherited? Samsung flat screen TV, autographed Janet Jackson album? We digress.
So about that Janet Jackson album…
When keeping a home inventory, there is never too much information you can have handy. And in all seriousness, your inventory should include all of the valuables within your home; jewelry, electronics, artwork, appliances, furniture, etc. Sometimes insurance agencies limit the items on your policy, so make sure you are familiar with what is being covered. You should also double-check any items of higher value (like a diamond necklace) to see if there are alternative ways of insuring those items that may not be covered by your primary homeowner’s insurance policy.
Why should you keep a home inventory?
In the chance of an unexpected event, it’s important to be able to recall all of the valuable items within your home that may have gotten lost, damaged or stolen. During times of despair, you may find yourself in a state of shock or disbelief and are unable to remember exactly what has gone missing. Keeping a home inventory provides a clear document filled with information for your insurance agent when covering a claim.
What are ways to keep a home inventory?
We suggest keeping your home inventory saved digitally. To start, take photos of any valuable items (no Instagram filters necessary). If you have kept the receipts for those items, take photos of those receipts as well so you can prove the initial cost of the item. A serial number is an important piece of information to track down which is almost always located on the item itself.
Why digital?
Because this is the one type of cloud that won’t be involved in a hurricane. There’s nothing worse than having your handwritten inventory wiped out with everything else. Whether you have a copy stored in Dropbox or some other cloud system, you can insure that you can find it in times of need. Other programs that we recommend include HomeZada and the Encircle App. HomeZada is a secure cloud solution that allows you to access your online inventory from any device. Features include uploading photos and a detailed list of information to include per item. Encircle allows you to easily take photos of your space and assets on your phone and include any other information necessary.
Keep in Mind:
Your home inventory should be updated frequently. Any time you purchase a pricey item, take a photo of the receipt and document as much information as possible. Lastly, remember that even though you may have listed your living room couch on your inventory does not mean it will be covered by your insurance. Your Sex & The City DVDs on the other hand…well you might want to check out your policy on those too. Contact your agent so you can get a clear definition of what is covered and any specific information they might ask for. In the meantime, keep Miss Jackson somewhere safe.
