Creating a thorough home inventory is something all homeowners should do. It helps in purchasing the correct amount of insurance and helps the claims process in the event of loss. Without proper documentation, proving the value of your contents during a claim can be challenging.
Detailing Your Valuables
Start by listing all valuable items in your home. This includes electronics, kitchen appliances, musical instruments, and even designer clothing and accessories. Remember, the cost to replace everyday items can quickly add up, making them just as important to document as high-ticket items.
Visual Documentation
A detailed video walkthrough of your home describing each item or photographs showing each item’s condition can be very helpful. Include images of brand labels, serial numbers, and receipts to prove value and ownership.
Receipts and Appraisals
Keep digital copies of receipts and professional appraisals for expensive items. This step is important for establishing purchase dates, ownership, and current value. Update any appraisals every few years to reflect accurate values.
Safekeeping Your Inventory
Store your home inventory in a secure location away from your home, like a bank safe deposit box or in the cloud.
You might alternatively use a family member’s house, so long as it’s not in the immediate area. For example, you don’t want to use a family member’s house if they also live in Fort Washington, PA. A major disaster that affects the whole area could destroy both homes.
Insurance Coverage Review
With your inventory complete, consult with your insurance agent to confirm that your policy coverage matches the value of your documented belongings.
Expert Insurance Assistance
If you’re in Fort Washington, PA, and need help with a home inventory or any other aspect of homeowners insurance, contact us at Options Insurance Group.
