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Taking Home Inventory

Taking Home InventoryIt’s still a new year, and it’s time to get into good habits. For this year, resolve to have your home inventory properly documented. Doing so is incredibly important for insurances purposes. The National Association of Insurance Commissioners says that 59 percent of Americans do not have a list of their possessions.
In the case of a claim due to burglary, natural disaster or otherwise, insurance adjusters will require you to list all the things you lost. You can do it room-by-room, which is probably the most efficient, or category-by-category, starting with big-ticket items. For each item, you should include a short description, quantity, value, condition, location in the house and if possible, attach a purchase receipt. This is a time-consuming process, so will likely need a few evenings or a weekend to complete the inventory. The documentation can be completed several ways.
Spreadsheets are helpful for naming each item, listing its price, purchase date, and the brand name. You may categorize by general categories such as jewelry, electronics, collectibles, etc. Supplement with photographs for the big items on your spreadsheet too. Photographs help prove that you own what you claim and are important for items like books, and small miscellaneous items. It’s also a good idea to do a video walkthrough of the rooms in your home to get a visual on the layout.
To make the inventory process easier, consider researching the variety of apps that automate part of this job.
As always, we welcome our clients and friends to reach out to us with questions and requests for advice on how to prepare their home inventory.

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