Be sure to ask your insurer if they offer a tool for making property inventories. Additionally, you may want to estimate the current cash value of each item after wear-and-tear, since some policies may only cover this amount. It’s a good idea to list how much you paid for each possession and also to include receipts or serial numbers if you can. Some insurance agents recommend that you begin your list by taking inventory of every item in a single room, and then repeating this process throughout your home. So, after making a property insurance inventory list, you may want to review your policy so that you understand how much protection you have for your property. Property coverage is usually only a percentage of dwelling structure coverage, which is the largest part of a home insurance policy. How much would it cost for you to replace all your pots and pans, your dishes and silverware, and any appliances you purchased like a coffeemaker or microwave? How about a table, chairs, or other furniture? If you are a homeowner, big ticket items like a refrigerator or stove will count under the property coverage in your home insurance policy. You may think you don’t own much of value, but for a reality check, just take stock of the items in your kitchen. Your property insurance inventory list can also be of help when you claim your property loss on your taxes. You may likely be distraught in the event of theft or accident, so a list could relieve some stress. Having such a list available could take away from the time and stress of trying to figure out which items you lost and how much they were worth. The benefit of keeping a property insurance inventory list is that in the event of misfortune, you can file a claim quickly in order to get the assistance you need.

That is why insurance agents often recommend that you create a property insurance inventory list before you ever have to worry about a serious property loss.

Read Home Insurance 101 for an overview of standard home insurance coverage.If the unthinkable happened and you lost your home in a fire, would you be able to report every item you lost to your insurance company so that you could be reimbursed fairly? Many insurance companies will not allow you to wait longer than three months to file a claim for losses. After cataloging your household belongings, be sure to contact your home insurance agent and see if you have enough coverage for all of your things. There are limitations on how much your home insurance policy will cover for specific items. Keep your photos, receipts and your inventory in a safe place such as a fireproof safe, on a remote computer or anywhere else that they cannot be destroyed. TIP: Don’t forget that taking pictures of your items and gathering receipts can help to prove ownership as well. Start by downloading your home inventory checklist and get started today. Will you remember everything you owned after it is gone? Especially in a time of crisis? Having a pre-established home inventory will take the headache out of that task – leaving you to focus on more important things.Īt we have created a comprehensive, yet easy to use home inventory checklist that you can use to catalogue all of your belongings. If your home is lost in a covered peril, your first call will be to your home insurance agent and your task of proving what was lost will begin. In the event of a disaster, a home inventory can be your greatest asset. Home Inventory Can Help With Claims Is Your Stuff Accounted For?

Insurance inventory checklist