The start of a new year is the perfect time to take stock on the possessions that you value around your home. Did you get a great gift for the holidays? Maybe a new piece of jewelry, technology or musical instrument? All of these items should be insured, and, just as importantly, need to be added to your home inventory.
What is a home inventory? Great question! Let's break down what it is and why you need one.
The first step is to make a record of each item in your home that you would want and expect to be covered by your insurance in the event of a claim. This list should include your jewelry, TVs, computers, antiques, art, furniture, equipment and tools, and many other things. If you can, it’s helpful to include serial numbers of each item. An easy way to do this is by taking a picture of the serial number and noting the item’s condition and how much you paid for it. If you can include a receipt image, that is always helpful.
Another easy way to approach this is by creating a home inventory video. Take a tour of your home with your smartphone, being sure to zoom in on the smaller items. Having a video, with a list (possibly in the notes app on your phone) is a great way to make sure you have all the details in one place.
The more specificity you can include, the more likely you will be able to get a claim filed quickly, at the right amount, if anything should ever happen to your things.
There are several software programs and apps that you can find that will help you to create a home inventory. However you choose to do it, it’s important to have a back up of this information outside of your home, just in case there is severe damage to your home that would prevent you from accessing the information.
This may seem like a tedious task but if something was to happen, you will be glad that you took the time to do it so that your things are protected. Making a home inventory often serves as a great opportunity to remind yourself of the valuable things in your home like art and jewelry. The value of these items can increase over time, so you should also make sure that they are insured at the right amount.
If you have questions or need advice on how to get started on your home inventory, ask your Arnold Insurance Executive and we can get you headed in the right direction. If you don't have an Arnold Insurance Executive yet, click here to request information.
