Its important to inventory the possessions in your home because if there ever is a fire or a burglary settling a claim with the insurance company will be much easier. Below is list of considerations and recommendations for making a list for your homeowners insurance policy:
- Take photographs of your possessions (or even capture them on video) to go along with the written list. This is a good way to back up your written claim.
- Provide the inventory checklist to your homeowners insurance company or insurance broker and be sure that they recognize it.
- Asses the value of what each item is and keep any purchase receipts along with the assessments. Bear in mind that some things will increase in value and some will depreciate over time.
- When making this list consider whether or not you have the appropriate coverage for very valuable possessions like jewelery. Homeowners policies have limits to how much they will pay out and it may be wise to get additional coverage on items that have large values.
- If your valuables have serial numbers put those details on your inventory list.
- Keep your inventory list in a safety deposit box (so if something happens to the house the list is kept safe) and make a backup copy.