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Defend Yourself by Conducting a Home Inventory for home owners coverage Policy.
What is a home inventory?
A house inventory is a detailed list of the private property found at your home and attached to your houses insurance policy. You should also include property that you have saved somewhere else, perhaps in a storage place or a garage on the premises. Your inventory is supposed to contain your furniture, jewelry, artwork, antiques, appliances, kitchen appliances, clothes, rugs, drapes, PC equipment, TV sets, CD players (and other audio or audiovisual appliances), musical instruments, clocks, mirrors, linens, lawn mowers, snow equipment, work tools, sport equipment, and any other item of value.
Why do I need an inventory?
An inventory is especially important for property insurance purposes. At time you file an insurance claim for ruined, lost, or stolen possessions, your renters` policy would require you to demonstrate the quantity, description, real cash worth (i.e., depreciated value), and amount of damage in relation to every thing. You`ll also be required to present copies of bills, receipts, or additional certification to confirm your figures. If you omit certain things or do not manage to include an adequate account of others, you might get less than complete compensation for your losses. Counting only on your memory can be an expensive oversight. As an exercise, attempt to name each item in your kitchen junk drawer, and after that, imagine having to perform that for the entire house!
Performing the house inventory.
Going room after room is probably the finest method to make your house inventory for the home owners coverage. Make a list of each item at the room, unlocking drawers, closets, and storage boxes. Be as descriptive as you can. For instance, don`t just write that a bed is there-- make a description of the headboard, footboard, mattress, and bedclothes, write down colors and dimensions. Keep in mind the attic, hall closets, cellar, and outbuildings. If possible, make an attempt to include the following info for each piece:
Item description (and quantity).
Maker or company name.
Model number or serial.
Description of where (or how) the item was obtained.
Date of purchase or age of item.
Check or other evidence of purchase, presenting cost.
Current value.
Replacement price.
Copies of any assessments.
A picture is worth a 1000 words.
It often helps to photograph or videotape your possessions, especially in case the pieces are hard to sufficiently describe in writing or if you don`t have a check. If you use a camera, label each photograph with information about the item shown. If you exploit a camcorder, add comments concerning every thing shown. Date-stamp your videocassette or take a photo of the date on that day`s newspaper. It`ll help you later to file a properties insurance claim if something happens.
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