If your home were damaged or destroyed by a fire, theft, or natural disaster, would you be able to recall every item you own? In the event of a total loss, you will be expected to provide a list of all your personal property that was damaged, along with its estimated value. A Household Inventory can not only make it easier to settle your insurance claims, but can also help determine if you have the right type and amount of insurance for your home and its contents. Follow these simple steps to complete a Household Inventory.
- Make a list. Jot down the items and their value in each room (don't forget the closets and storage areas). Then itemize the contents in the space provided in Central's Household Inventory Brochure. Be as thorough as you can, noting make and model or serial number, date purchased, and the item's value.
- Take pictures or record a video. A visual reminder is also extremely helpful when trying to recall the contents of your home. Take pictures or make a video of each room, date them, and keep them with your Household Inventory.
- Compare your coverage. Compare the Household Inventory total to the amount of coverage on your homeowner's policy. If the amount on your policy is less than the value of your inventory, contact your independent agent to adjust your coverage.
- Safeguard your inventory. Store your inventory in a safe place – a safe deposit box, a fireproof safe, or with your insurance agent.
- Review it once a year. It's important to recheck your inventory once a year. What new items have been added to the household? How have the cash values changed? How does the protection of your homeowner's policy measure up against inflation? With the help of your insurance agent, make sure your policy offers the right coverage for your valuables.
A little time spent now cataloging the inventory of your home can mean less work and fewer worries later when making an insurance claim. Contact your independent insurance agent with questions regarding your Household Inventory.
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