Monday, September 11, 2017

When Disaster Strikes... The Importance of a Home Inventory

When tragic disasters occur - fires, floods, hurricanes and earthquakes - many people are faced with the loss of their homes and possessions.  Imagine if you lost everything, and then had to list all of your possessions in order to file an insurance claim - not just your TV or furniture, but all your household goods, clothes, kids toys, holiday decorations, etc.  For me, this would be a true test of my memory - which could result in a lower insurance payout.

Consider these statistics:

ABC News recently published an article, 'Why your disaster kit needs a home inventory' , focusing on the importance of creating an inventory of all your belongings. The article also includes some tips and tools on how to create an inventory at your home, as well as suggestions for what to do if you don't have a home inventory after disaster strikes.

So, how do you get started in creating your home inventory?  Your insurance carrier may offer a free home inventory app.  On-line sites such as offer home-inventory programs.  And there are several software programs you can purchase to help you catalog all of your belongings.  At a minimum, it is suggested to take photos  or video from floor to ceiling in each room, and in the drawers and cupboards.  It is best to update your home inventory about once a year, save digital receipts of major purchases, and store your photos/videos at an off-site location.

While it may be a big job, it will be less stressful than having to recall and list all of your possessions at a time of loss - and will help your claim get processed faster.

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