How to Take a Home Inventory of Your Possessions
Hal Tennant of Tennessee posted this aid blog about taking a home inventory and storing the list. Everyone should have their inventory of things saved in a safe place. Good post Hal thanks for sharing.
Take a look at your homeowner’s insurance – specifically the coverage amount listed under the heading “personal property.” Is it enough to reimburse you in case of a loss? Oh, and that dollar amount does NOT include luxury items like jewelry, art, high-end electronics, hobby-type collections, or gourmet cooking gadgets.
Here are 9 tips on how to create an “inventory” of all your stuff:
1. Make a list of all your possessions.
2. Think about family heirlooms, collections, furniture, flat screen TV’s, musical instruments, computers.
3. Write down common items such as toys, clothing, shoes, holiday decorations, sporting equipment, tools, landscape art and swing sets.
4. Make copies of sales receipts or appraisals (jewelry, furs). Write down serial numbers.
5. Group your possessions by “room” or “categories” to easily keep track.
6. Photograph or video high-ticket items, and include when purchased and dollar amount.
7. Go through drawers and closets and document the contents.
8. Store your list in a safe place.
9. Review and update your inventory every year when your homeowners insurance is up for renewal.
Storing your list can be done using the “cloud”—where you can post on a remote server that you can access anywhere in case your computer has been destroyed or stolen. Oh, and there are phone apps that allow you to scan bar codes, take photos and serial numbers and electronically store them for you.
Finally, sit down with your insurance agent to make sure the homeowner’s policy covers all your possessions
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