The importance of creating a Household Inventory Record
Moving is never a fun process, however it is a great time to conduct a personal inventory, creating a record of all personal belongings, so that if you ever experience a major insurance loss you will know what you owned. During a move you have access to all of your belongings, even the items stuffed back in a deep dark corner of the attic, so it is a great time to document your stuff.
Remembering all of you possessions can be very difficult unless you have a photographic memory. I am sure you can provide a the make, model, and size of your TV, a good general description of your living room couch, and bedroom furniture, but can you provide a complete inventory for the second drawer, to the left of the stove in your kitchen and a list of all of your Christmas decorations? If you lose everything, or even a big portion of your personal belongings a person property inventory will make your life much easier. A personal inventory gives a claims adjuster a very clear picture of what you had, makes it easy to determine a value, and ultimately will help you get your claim settled quickly & accurately.
Taking pictures of your entire household belongings is the most efficient way to create a record your belongings. Take pictures from several angles in each room and don’t forget to open closet and cabinet doors as well. We have provided an example of what a good personal inventory looks like. Once you have taken the pictures make sure to keep at least one copy of the images at another location such as with your insurance agent, relative, or in your safe deposit box.
Whether you are moving or not, having an up to date personal inventory just makes good sense. It may be an invaluable use of your time if you ever suffer a major loss.
2 Minute Video on creating a Home Inventory
More info on creating a Home Inventory from the Insurance Information Institute
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