Is A Home Inventory Really That important?

A Personal Insurance Update

Do you think you could create a list of every household item without being in your home? If you have a loss that is exactly what you may have to do. Think about every piece of furniture, every book, shoe, dish and piece of electronic equipment. Now, ask yourself these questions, “How much money are all of my belongings worth”? “What would it cost me to replace everything I own”?

The fall is a great time to create a home inventory, because the kids are off to school and the holidays are still a few months away.  Here are some great tips to help you create your own home inventory.

How to Create a Home Inventory

Creating a home inventory is actually simple these days with all the technology. Here are a few tips.

  • Create a digital record of every room. While you are videoing, describe each item and identify a replacement cost.
  • There are great online resources if you want to create a hard copy of the inventory.
  • It may be useful to categorize clothing. For example, 10 pairs of men’s pants, 12 tee-shirts, 6 pairs of Nike shoes, etc.
  • Make sure you focus on high end items like jewelry, guns, computers and art work.
  • If you have expensive art it would be good to have it appraised.
  • Update the inventory from time to time.
  • Keep the inventory in a safe or at a secondary location. Even store it in the cloud.

Whether it’s your flat-screen TV or a wedding ring, your possessions are important to you.  Keeping track of your belongings with a home inventory can help save you hassle and money if the unexpected occurs.

Homeowners Insurance

A well-written homeowner’s policy will pay to replace any of your personal property that is destroyed in a fire or other disaster. Having an inventory will allow the insurance company to completely replace items that were damaged or lost.

You might be able to pay less for your insurance premium and not even know it. So it pays to connect with us to review your insurance needs. Allen & Furr Insurance, is an Independent Insurance Agency, we represent many of the top insurance companies in the country. This means better coverage, and at a competitive price, including life and health insurance.