Hurricane season is ending in Florida, and there is a sense of relief for many who escaped unscathed once again. You might not want to think about future preparations at this point. However, if you do not currently have a home inventory, any future hurricanes or similar disasters – such as house fires or floods – may leave you in a bad situation. Home inventories assist in the restoration of your personal property and possessions should they be destroyed in an accident. With a new year fast approaching, make it a goal to document your possessions in a home inventory and secure your peace of mind for the future.
Home Inventories Explained
A home inventory is simply a gathering of evidence of the types of possessions that you have in your home. Thanks to modern smartphones, almost everyone has access to a device that can easily document and store your house’s contents. Video proof of your possessions increases the likelihood your insurance claim is wholly accepted and speeds up the process of item replacement. The most common instances where a home inventory comes in handy are:
Hurricanes – The recent hurricane showed the destruction that a storm could bring upon a Florida home. In cases of water damage or floods, all areas of your house can be at risk. Hurricanes can also leave behind mold growths, causing further damage and destroying carpets, furniture, and walls.
Fires – A major fire has the possibility to completely destroy important possessions. Without proof in the form of a home inventory, insurance companies may not believe or accept your accounting of what was lost in the fire.
Theft – The loss of your items following a burglary can only be proven if there is proof of their existence prior to the robbery. Many commonly stolen items can be replaced through insurance if proof of purchase is provided with your claim.
How To Document Your Possessions
Documenting your home and its possessions has never been easier. Before you begin, determine where you will store this information. Uploading the data to a secure online location or bringing it to your insurance agent for safekeeping are excellent options. In fact, it is recommended to store your inventory in multiple ways to prevent a single point of failure.
To start your home inventory, begin recording in a designated room and describe all of its contents. The most important thing to remember is to provide ample information that will prove the value of each item. This can include the name, make and model, serial number, cost basis, and purchase location. A good idea is to start with high-ticket items and work your way down in cost, as this ensures that the most valuable items are not glossed over when creating your inventory. Many appliances and electronic devices have detailed information on a sticker or information panel; this information alone can be used as proof. Documenting all of this information through photo or video evidence is the simplest way to prove proof of ownership.
When documenting a large number of items, such as clothes in a closet, providing a detailed accounting of each item is optional. Unless a particular item is costly, a rough estimate of the amount and cost is sufficient and will save you time overall.
A home inventory should be updated whenever a major purchase is made. This does not necessitate a complete redo, simply an update to your existing list. Put simply, if it is expensive, make a note of it!
The process of home inventory documentation can be long, but it is the simplest way to ensure you receive compensation when disaster strikes. For more information on home inventories and which items need to be separately insured on your home insurance policy, contact Anderson & Associates Insurance Group.
