Any disaster, natural or man-made, can strike your home without notice. It could be a house fire, storm, or burglary. In the aftermath of a catastrophe, you will need to file insurance claims to recover whatever losses you might have incurred. Without an inventory of your possessions, you may not be able to get adequate compensation for your losses.
A home inventory is a list of all the significant things that you own. The list should consist of basic information, including a thorough detailing of the items (with serial numbers, etc.), the date you bought the items, and their estimated worth.
It may be a good idea to take video or photos of what you have in your house. This proof of ownership will serve you well when you file your insurance claim. The video or photo will show the actual condition of your possessions, which will help establish their value. As insurance companies often dispute the merit of your claim, you can come back with tangible evidence to defend your case.
Keep a backup of your home inventory online or in a waterproof and fireproof safe or deposit box. Your home inventory will be useful for many types of insurance claims including the following:
- Burglary claim – When things are stolen from your house, your list, photos, and video footage can provide proof that you really owned the things that you claim were stolen.
- Fire insurance claim – A fire can wipe out your property, including any evidence of ownership. Having an itemized list of what you own will be a great help in establishing the value of your losses.
- Mold infestation – Mold in your home could damage your furniture, curtains, carpets, and more. Without proof of your property in its original condition, it will be difficult to recover losses from your insurance company.
Many homeowners attempt to make an inventory of their property only after it has been compromised. It’s far better, however, to track your belongings before disaster strikes. Carve out some time, and make your home inventory. It can come to your rescue in a time of need and give you peace of mind in the meantime.