Home Inventory for Insurance
Filing a claim after a fire or natural disaster is a very stressful time. While securing a temporary residence and purchasing emergency clothing and other items, you’ll also need to start compiling a list of everything that was in your home at the time of loss. A much better idea is to have a home inventory, and update it after any major purchase, or at least once a year.
Home Inventory for Insurance Purposes – Tips and Hints
Here are some tips from the Insurance Information Institute on creating a home inventory:
- Pick an easy spot to start – A contained area—like your small kitchen appliance cabinet, your sporting equipment closet or your handbag shelf—is a great place to get started.
- List recent purchases – Another way to start is with recent purchases—get into the inventory habit and then go back tackle your older possessions.
- Include the basic information – In general, describe each item you record, and note where you bought it, the make and model, what you paid and any other detail that might help in the event you need to make a claim.
- Count clothing by general category – For example, “5 pairs of jeans, 3 pairs of sneakers…” Make note of any items that are especially valuable.
- Record serial numbers – Usually found on the back or bottom of major appliances and electronic equipment, serial numbers are a useful reference.
- Check coverage on big ticket items – Jewelry, art and collectibles may have increased in value and may need special coverage separate from your standard homeowners insurance policy. While you’re making your home inventory list, check with your agent to make sure you have adequate insurance for these items before there is a loss.
- Don’t forget off-site items – Your belongings kept in a self-storage facility are covered by your homeowners insurance, too. Make sure you include them in your inventory.
- Keep proof of value – Store sales receipts, purchase contracts, and appraisals with your list.
- Don’t get overwhelmed – Once you’ve started your inventory, keep going even if you can’t get it all done immediately. It’s better to have an incomplete inventory than nothing at all.
Home Inventory for Insurance Purposes – Apps
The below links are to online apps that help make the job easier:
Another alternative is to create a “wish list” on Amazon and keep track of your inventory there. The plus side of doing this is that you will automatically know the current retail price of your items.
Also, please keep in mind that your policy may contain limitations on the amount of jewelry, art, collectibles, money and securities. Please contact one of our Personal Lines Specialists if you have high-value items (or large collections) of these items.
About Overmyer Hall Associates
Overmyer Hall Associates is one of the fastest growing agencies in the country, quickly becoming one of the largest property and casualty insurance agencies in Central Ohio. Recently awarded Columbus Business First "Fast 50" and "Best Places to Work" awards and Columbus CEO Magazine recognized it as the “Best Insurance Broker” in Columbus, Ohio. Overmyer Hall Associates provides clients with insurance and risk management, specializing in Commercial Insurance, Surety Bonds, and Home & Auto Insurance. www.oh-ins.com