Why You Should Create a Home Inventory for Home Insurance
Whether you’re renting an apartment or own your home, you’ve most likely got an insurance policy designed to protect your dwelling and the things inside. Should the unthinkable happen and you actually have to use that insurance policy, it’s important to have a plan in place. A home inventory is a great way to get started.
What Exactly Is a Home Inventory?
Quite simply, a home inventory is a complete breakdown of items, especially valuable content, in your home. It’ll help you provide a detailed list to your agent of items lost in the event your home is damaged or destroyed.
Why You Need a Home Inventory
If you ever have to make a claim, a home inventory is a great asset to have, especially after stressful events like theft or storm damage. When you make a claim, you typically have to submit information on everything that was lost — which can be difficult to do for all of your possessions. Remembering to replace your TV or computer are no-brainers, but when it comes to remembering each piece of jewelry in your jewelry box, things tend to get overlooked. When you have your home inventory checklist, you know exactly what needs to be replaced, and you’ll have peace of mind knowing your entire household is protected.
How to Make a Home Inventory
Now, for the fun part! Compiling your home inventory can take some time, so while you’re in the process of making your final inventory, it’s important to create a substitute for the short-term. Walk through your house and record a video of your possessions, making sure to focus on expensive items like electronics, jewelry, artwork, etc.
Once you have your makeshift inventory created and stored on a web-based platform (think Google Drive or Dropbox), you can get to work on your actual inventory.
Get technical. There are a ton of different apps out there for creating your own home inventory (may we suggest our DreamVault app), which can essentially help organize your inventory taking efforts and act as a home for your list of belongings. You also have the option of creating and customizing your own inventory with a simple Excel spreadsheet.
Check nooks and crannies. Next, do a walk-through of your home, making sure to hit every room in the process. Take plenty of pictures of each room, especially the expensive items, and any model or serial numbers. Then, be sure to enter all the information and pictures you have into your tool of choice, and store it in a safe place.
Think ahead. Be sure to keep your inventory up-to-date as you acquire new possessions and part with old ones! A home inventory is the perfect way to save yourself from potential headaches in the future, so give yourself a pat on the back for thinking ahead and keeping your home and family safe. A home inventory won’t be much use without the right coverage. Check in with your American Family agent and talk to them about our homeowner coverages to make sure you’re protecting what matters most.