Personal Property Inventories: Why You Need It Before You File a Claim
You arrive to a new post and feel like some things are missing, probably lost in transit or left behind by accident. Do you know exactly what’s gone? Like most of us, you may have a general idea but unless you have a detailed home inventory, you’ll probably never know exactly what’s missing.
Home inventories may seem like a tedious task, but it is fundamental to ensuring that you adequately protect yourself in the event of a loss resulting in the need to file an insurance claim. A home inventory will make sure the claims process is smooth and it can also help you understand just how much insurance you actually need to purchase – whether it’s scheduled items or unscheduled.
How to Create an Inventory
We have some quick tips to help you craft a quick and easy inventory:
- Create Categories: make umbrella groups such as electronics, appliances, heirlooms, jewelry etc.
- Start Small: pick a specific category, work through it, and then move on to the next
- Work Chronologically: start with recent purchases first, eventually working your way to older purchases
Besides listing all of your items, an inventory should include a few pieces of information. We’ve put together a checklist of important information to keep in mind when putting together a detailed inventory of your items:
- Description of the item
- Manufacturer, Model, & Serial number if applicable
- Purchase date & cost
- Scans of receipts & other important associated documents
- Photos and video footage
- Estimated or appraised replacement value
If you didn’t create an inventory when purchasing insurance, you can send an inventory after the fact to one of our licensed professionals to keep on file for the items you already insured. And while you are at it, you can always add more items – scheduled or unscheduled - to your current policy. Adjusting your policy for appropriate coverage is quick and easy.