Creating a home inventory is essential to ensure you carry enough coverage and get reimbursed in a disaster. Having a detailed list of everything in your home will make filing a homeowner’s insurance claim faster.
So how do you create a home inventory for your home insurance? Here are some steps for creating a home inventory of your personal property.
Don’t go big; start in a small room area, and work your way outward. Move on to the next room once you’re done with that particular room.
You need a simple description if you’re not able to disclose the price of a particular item, and it could be a few words. Also, consider noting the following.
- Serial or ID numbers
- The value of the item
- The items make and model
- Where you purchase the item
- The date of purchase and price
- The appraised value of the item
Categories your items
Categorize the type of items you want to inventory to expedite the process. Small-ticket items like IKEA pots or casual clothing and shoes can be categorized.
Be mindful of expensive items
Be sure to take note of any expensive items you own and record these items in a separate section. If you have any expensive furs, jewelry, rare keepsakes, or electronics, you may need addiction coverage if you want to be reimbursed for their full value.
Don’t forget about your home outside stuff
Home insurance also covers some items outside your home if damaged or stolen. That means if someone breaks your bicycle outside your home, you may be reimbursed with a new bike.
Hold on to your receipts
Keeping receipts of the inventory items will make for a seamless claims process. Paper and electronic receipts or photographs of receipts will do the trick.
By noting what you have, you can work with your insurance agent and review those covered items to make sure you have the right coverage.