Your home isn’t just composed of the structure that holds up the roof and walls — it’s everything inside you carefully picked out to personalize your living space and enjoy the convenience of modern living. These include some of the most common lifestyle essentials, such as appliances, furniture, and electronics, as well as collections and other valued personal effects.
Do you keep track of everything you own — and could lose? A home inventory checklist helps you determine everything that should be covered under your home insurance policy, and repaired or replaced in case of an accident or disaster.
In addition to listing collections and items of value on your home inventory list, it’s recommended that you walk through your home annually and make a video of each room, closet and drawer. You may think you have a handle on what you own, but after taking years to acquire your personal effects, you don’t want the added stress of trying to recall all lost items after an accident destroys your home.
The safest place to keep this list and video is a secure online “cloud” account and/or a safety deposit box.
A home inventory list is a catalogue of all high-value belongings in your home. This is arranged by item, value, and a brief description. The total value of your personal belongings can be considered when selecting coverage limits in your home or renter’s insurance plan, so you are guaranteed the right amount of repair or replacement allowances in case of loss or damage.
A home inventory checklist also speeds up the claims process. This list serves as proof that you own the items included in your claim, which insurers require before paying out the coverage amount. Having an updated home inventory list on-hand allows you to file and process a claim for lost, damaged, or stolen items right away, rather than spending hours tracking down what you own in the mess of an accident or disaster.
Your home inventory checklist is not static — every homeowner acquires new items once in a while. Whether it’s a quick shopping trip or periodic redecoration to update their home’s look and feel, or replacing old and worn-down appliances and furniture, it’s important to update your home inventory list with every major purchase or renovation.
Ready to get started or need some help taking stock of everything you own and need to protect? Our brokers can guide you in creating a comprehensive home inventory checklist in time for activating or renewing your home insurance policy.
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