Tips to Keeping Home Inventory for Insurance Purposes

One of the most important (but often overlooked) aspects of home insurance is keeping a detailed home inventory. Not only does this help ensure you have the coverage you need in case of an accident or disaster, but it can also help speed up the claims process if something does happen. Here are some tips to help you create your home inventory.

1. Create an inventory list

The first step is to create a list of all the items in your home that you need insurance coverage. They can be anything from furniture and appliances to clothing and electronics. The list will act as a valuable guide during insurance claims. Be sure to include the big-ticket items and any sentimental or valuable items that might not be replaced by insurance. You can use one of the many available digital home inventory programs designed to keep track of everything more manageable.

Any time you make a significant purchase, add it to your home inventory. That includes furniture, electronics, and appliances, among others. Be sure to include the date of purchase and any relevant receipts or documentation.

It’s also important to keep track of smaller items in your home, such as clothing, books, dishes, and other small things. Even though these items may not be worth as much money as more oversized ticket items, they can still add up over time.

2. Take Photos or Videos

Once you have your list, take pictures or videos of each item. Include a close-up of any distinguishing features or markings and be sure to date the photos. If you have receipts or other documentation for expensive items, include those. That can be especially helpful if you ever need to claim damaged or lost items.

3. Keep the Inventory Updated

Even if you go with something basic like photos and videos, it’s essential to keep it updated so that you don’t forget anything when tragedy strikes. You might want to consider going through each room at least once every year and updating your list accordingly.

4. Store Your List Somewhere Safe

While keeping a detailed home inventory is great for peace of mind, having your list stored in a secure location such as a locked cabinet or safety deposit box is also very important in case of a fire or other disaster. You may also want to consider backing it up online, just in case there is some accident or natural disaster that damages your physical copy.

5. Store Copies with Your Insurance Company or Your Lawyer

In addition to keeping a copy for yourself, it’s always a good idea to have one stored securely with both your insurance provider and your lawyer. That will ensure that you can easily access it if needed, even if something happens to the original list itself.

Florida Condo Insurance is your go-to source for insurance, including condo insurance and home insurance. They can offer expert guidance on how to store your inventory copies safely.

6. Consider Including High-Value Items on the List as Well

While most home inventories are designed to cover everything from small household items to big-ticket items like jewelry and electronics, this isn’t always necessary. However, if you own some particularly expensive or sentimental possessions, it may be good to include them on your list.

Conclusion

Keeping detailed home insurance inventory for homeowners or even condo insurance may seem like a lot of work. Still, it’s well worth the effort when you need to make insurance claims in the future. By taking these simple steps, you can feel confident that your insurance company will have all the information they need to process your claim quickly and efficiently.