Home inventory insurance update#

Once you have created your home inventory, it is important you assess whether you have sufficient coverages for all your items. Should you be moving to a new home, condo, or apartment, be sure to re-record your home inventory featuring all the items from room to room. However, should you acquire new items throughout the year, be sure to add them to your list. As a general rule, we suggest at least updating your inventory annually.

Home inventory insurance update#

There are many reasons why you may need to update your home inventory. If you decide to list your home inventory, it is also recommended to keep it in a safe location such as a fireproof and waterproof safe along with other important documents. This way you will be able to access this document should you be unable to return home.

We highly recommend keeping a digital copy of your inventory digitally via email, the Cloud, Dropbox, etc. Keep your home inventory in more than one place. You will want to make sure you have the items listed on your inventory should the unexpected occur.Ĥ. Even if items are currently located in a box, they could still experience damage. Include items in other areas of your home including your garage, attic, closets, or shed. For example, “2 pairs of jeans, 6 button-up shirts, and 4 pairs of sneakers…” Don’t forget to include items of value, such as art, antiques, collectibles, electronics, and jewelry.ģ. When adding items such as clothes and accessories be sure to record the numbers of each type of clothing. Your home inventory list should include the items you own, their age, approximate cost, where the item was purchased, and its condition. These include smartphone apps, or simply taking pictures or videos of each of your items and providing its information and estimated cost.Ģ. However, there are other ways to also create an inventory which may be much simpler and easier to access. Creating a home inventory could be as simple as just listing the make/model and estimated price of the items in your home. First, figure out which type of inventory to create which will best suit your needs. To learn more about why you need a home inventory, please watch the video from Florida Peninsula’s Penny below.ġ. It can also expedite the settlement process of a covered loss or claim with your insurance carrier. A home inventory will assist policyholders when asked to provide proof of the items in their home, via pictures and/or receipts should theft, damage, or a loss occur.Ī home inventory can help you determine if you have purchased enough coverage for your contents as a homeowner or renter as you make a list of items and their value. The importance of creating a video inventory is often underestimated until a loss occurs, and according to the Insurance Information Institute (iii), only 52% of homeowners have made a home inventory of their possessions. This is why as a homeowner or renter, creating a home inventory is one of the most important lists you can make.

Most policyholders do not keep receipts of all their personal belongings, as it can be very difficult to find time and space to maintain such documents.