As a cautious adult, you have a homeowners insurance policy. But no one wants an occasion to file a claim. Unfortunately, theft or weather-related incidents can happen anytime, to anyone. It’s up to you to make sure your possessions are as secure as your home. How? Taking an annual home inventory will ensure that you’re covered for the true value of your assets.
Still not convinced? Imagine filing a claim and being asked what specifically you owned. Now close your eyes. Can you picture every single item in every single room by memory? It’s very difficult. But if you have a list and/or pictures of your possessions, then you don’t have to work so hard to collect the money owed to you.
Your home inventory should be updated every year to account for recent purchases. Don’t worry, it’s an easy process once the initial work is complete. There are several methods to take the initial inventory. You may want to try some of these:
- Pen and paper: The good ‘ole fashioned way still works. Grab a notebook and pen. Walk your home, room to room, making note of every item worthy of reimbursement. Be sure to include the item’s description, cost, and any other important information such as a model or ID number.
- Computer savvy: Create this same list, but, rather than pen and paper, type up a Microsoft Word document or Excel spreadsheet containing the same information.
- Photographer: Turn the date stamp on your digital camera and take pictures of every angle in every room. This option provides the best proof that you did own everything you claimed. Once the photos are taken, you still have to make notes.
- Develop the photos are write the details on the back.
- Store the photos digitally with the inventory list you typed up.
This process can be tedious, going from room to room, making notes of everything. Keep in mind, a homeowners insurance policy is only as good as what you actually have coverage for. This list will also help your insurance agent determine the right premium for the right amount of coverage.
The more thorough your list is, the better off you’ll be in the event of theft or a disaster. Keep receipts for high-priced items, such as televisions or jewelry, with your inventory list. It’s also a bonus if you keep track of when and where these items were purchased, along with the model or ID number.
To save yourself some hassle, feel free to skip over items that would not be missed. If you don’t care about that tacky fridge magnet a friend brought back for you from vacation, don’t write it down. But be sure to include all the things you do value, such as:
- Electronics and appliances
- Outdoor equipment
- Clothing, shoes, jewelry, and accessories
Whew! Once you’re done, pat yourself on the back. Then be sure to secure your hard work. If your list is digital, back it up on an external hard drive and print several copies. Take any physical copies away from your home. Lock it in a safety deposit box, leave it with a trusted friend or relative, and even offer it to your insurance agent. With your home inventory list backing up your homeowners policy, your home and assets are sure to be secure, come what may.
Get a free quote for Carlsbad homeowners insurance today!