We hear stories of families that lose their possessions in house fires, or damage created by storms. Most of the time we don’t think it will happen to us. Unfortunately it can. It is important to create a list of the inventory in your home. Over $43 billion dollars in damage was done in 2011.
That is a lot of loss. Research suggests that more than half of home owners and renters do not have a complete inventory of the contents of their home.
Here is a checklist that will help you get started.
- Start with categories. List items by room.
Be sure to include high end purchases, such as
Keep copies of all receipts and appraisal
- Take pictures or video of all items.
Store your inventory on your computer or in a
fire proof box. Consider sending a copy to your insurance agent.
Having a list of the contents in your home is a great place to start when deciding how much insurance coverage you should obtain. It is also a way to see when you should update your policy, and it is extremely helpful when filing a claim.