Taking a Home Inventory
If your home is burglarized or destroyed from a hurricane or a fire can you tell the insurance company everything that you lost?
A household inventory is a list, preferably with photographs, of everything in your home. It is also a good idea to photograph the outside of your home and your vehicles. According to the Insurance Information Institute, having a home inventory list will "help you get your insurance claim settled faster, verify losses for your income tax return and help you purchase the correct amount of insurance.
Ways to Take a Home Inventory
There are different ways to prepare your home inventory. You can write everything down in a list. Or you can take pictures, writing information on the back of the photos or put information on your computer. If you have a video camera, you can walk through your house filming and describing the contents at the same time. Or you can use home inventory software such as the one offered by Farmers Insurance Group’s iClaims App. This free app makes creating and keeping a home inventory easy by allowing you to keep detailed information including the picture, serial number, description, purchase date, and the estimated value. If you do not have an iPhone or iTouch, there are other free softwares available to help you with taking a home inventory.
When taking a home inventory be as thorough as possible. Include copy of the receipt or purchase price and date whenever possible. Include details such as make and model number.
Store Your Images and List Offsite
Store a copy of your inventory in a safe place outside of you home—with a friend or in a safe deposit box. That way you'll be sure to have something to give your insurance representative if your home is damaged. Also, whenever you make a significant purchase, remember to add the information to your inventory while the details are fresh in your mind.