Homeownership is an enormous responsibility. That’s why it’s vital to protect your most valuable assets: your home and its contents! One perfect way to do this? Keep an accurate home inventory list of all items inside your house with a home inventory.
It might sound like a daunting task, but it doesn’t have to be. With the right organizational know-how, you can soon learn how to track every item in your home — from furniture and electronics down to kitchen appliances and décor pieces — for added protection against theft or natural disaster.
Let us show you just how easy setting up and regularly updating a home inventory checklist can be!
THE BENEFITS OF CREATING A HOME INVENTORY
A home inventory is an essential asset for any homeowner. It can help you save time, money, and stress if your home is damaged or destroyed because of a natural disaster, theft, or other unforeseen events. Let’s consider why you should create a home inventory for your own home.
1. To save time and hassle in the event of an emergency.
Completing a home inventory ahead of time saves you the headache of trying to remember everything that was lost or damaged after an incident occurs. With the information from your inventory, you can quickly and easily provide your insurance company with details about what needs to be replaced or repaired.
2. To accurately assess how much coverage you need from your insurance company.
By completing an inventory of all your possessions, you can determine how much coverage you need from your insurer to cover any potential losses. This will help prevent being underinsured for any incident that takes place at home and allows you to secure the proper amount of coverage for peace of mind.
3. To prove ownership if anything is stolen or destroyed because of natural disasters like flooding or fire damage.
A household inventory provides proof that certain items were yours prior to their destruction, making it much easier to receive compensation from your insurance company for those items if they are damaged or stolen during an incident beyond your control.
4. To keep track of appraisals for valuable items like jewelry, antiques, and collectibles that standard homeowners policies may not cover without additional riders on them.
Taking photos and/or video recordings (with audio) as well as notes about each item’s condition can help provide evidence when filing claims with insurers for special items that are often excluded from standard policies but may still be covered in certain circumstances by adding additional riders onto them.
This can also help identify any potential gaps in coverage so all possessions are adequately insured against loss or damage because of specific events, such as theft or fires.
5. To easily document changes over time if something needs repairs later down the line because of regular wear-and-tear or other issues, such as water damage caused by leaking pipes.
Having detailed records on hand makes it easier to file claims with insurers should something break down due to age or everyday use rather than incidents outside one’s control. Having detailed records also ensures accuracy when filing taxes for larger purchases, such as furniture, appliances, electronics, etc.
3 SIMPLE STEPS TO SUCCESSFULLY COMPLETE A HOME INVENTORY
A home inventory is a critical tool to have in case of a claim or a natural disaster. Luckily, there are several great ways to accomplish an inventory after taking an initial audit.
1. Download an app. With technology at our fingertips, the first and most convenient way to complete your inventory is to download and use the many home inventory apps available.
2. Write it down. If technology isn’t your thing, a spreadsheet can easily and quickly help you organize all your items with simple data entry.
3. Take lots of pictures and videos. Photo documentation and video recordings are always a surefire way to ensure someone has properly recorded every item in your possession.
Keeping your items safe has never been easier. If unexpected circumstances arise, you’ll be prepared. Whether you do all three options above or choose one method, each of these methods alone can provide valuable information when filing a claim or ensuring you have covered all your bases when completing your home’s inventory.
By taking some time now to create an accurate household inventory list, you’ll be able to file an insurance claim quickly and potentially get reimbursed for any losses incurred because of theft or natural disasters.
And don’t let the stress of cataloging many items overwhelm you. Start small, keep it simple, and watch as your inventory grows with time. So don’t wait - create your own home inventory today!
If you need help finding the best homeowners insurance coverage for the best price, start by speaking to a SimplyIOA agent at 833.872.4467 or get a homeowners insurance quote online now.
