Taking inventory can help you decide what items you want to keep, and what items you have been unnecessarily storing in your house. Maybe you have a kitchen appliance stuffed in a cupboard that you haven’t thought of since Thanksgiving of 2003. Maybe you have five winter jackets, and only wore two last year. While you are already setting aside the time to evaluate all your possessions, you can take this time to downsize and declutter any items you no longer find necessary. If you need to file a claim, video proof can be helpful. Walk through your house, and zoom in on specific items and serial numbers. Another option that can document your possessions and is easy to do is recording a video. There are a number of smartphone apps available to download that make taking a home inventory a breeze. There are many methods to catalog the items in your home that don’t require hours on a computer. If spreadsheets scare you, don’t be alarmed. Taking a full home inventory can ensure that you will be reimbursed for everything you own. If there is a fire in your home, you’ll likely remember the large items, such as furniture, but what about the smaller items? Shoes, clothes, sports equipment, and movie collections can all add up pretty quickly. If you have valuable items such as collectibles, antiques, firearms, or jewelry, the more detail you can provide, the better. If there is a fire in your home, or you are robbed, a detailed list of what was destroyed or stolen can make a claim less stressful. A home inventory is an excellent way to help make home insurance and renters insurance coverage decisions. An insurance claim requires a detailed list of. If you tally all your property and it comes to $150,000, you now know that you need at least that much personal property coverage. Why do I need an inventory of my home or apartment. In terms of insurance coverage, a home inventory sufficiently prepares homeowners to deal with potential losses. Having an accurate list of all your possessions helps you to have a more productive conversation with your insurance professional when making decisions about homeowners or renters insurance coverage. Whether you are shopping for Renters Insurance for your first apartment, or have lived in the same house for years, a home inventory can validate if you have enough personal property coverage. An up-to-date home inventory will: Help you purchase the right amount and type of insurance. Store you video or photo inventory offsite so you won’t lose it if your house is damaged. Keep any receipts you have with the list to make the claims process easier. ![]() Add brand names and descriptions where you can, especially on large-ticket items. You’ll be able to tell if you have enough coverage Here are a few tips for completing and storing your inventory. It’s a good idea to save several copies of this (think digital back-ups) since a physical list will likely be ruined or lost in the event of a claim. Many insurance carriers recommend keeping a home inventory so you have an updated record of all your possessions. While taking a home inventory sounds like a tedious and boring task, there are several reasons why you should set aside the time to take one.
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