With recent hurricanes hitting regions of the United States hard, hundreds of thousands of homes have been lost. Would you know what to do if your home was hit by a storm or other disaster? Most often, insurance companies want a detailed list of all of the possessions that were damaged or destroyed. If you suddenly lost your home would you be able to remember everything that was lost.
By creating a current inventory of your home, you can expedite the paperwork stage of disaster recovery. In order to produce a valid inventory that your insurance company will accept, be sure to include the following things in your list:
- Name of the item
- A short description of the item
- Purchase date
- Purchase cost
- Serial numbers (if applicable)
Be sure to include everything ranging from carpets and rugs to furniture to books, clocks and lamps. Don’t forget to open the closets and cupboards and list all the items inside them. Back up your written inventory with photographs of each wall of each room with closet or cabinet doors open. On the back of each picture, write the date, the general location and the contents shown. You also may want to make a videotape of your possessions.
In your notebook, organize your lists by room. Attach receipts and photos to the list or put them in a plastic protector behind the list. Once you have compiled all your information, the inventory, photographs and video should be kept in a fire-safe place away from your home such as a safe-deposit box at your bank. But be sure to keep a copy in your home so you can update it as needed.
Your inventory list will help you and your insurance company to:
- Determine the value of your belongings and your personal insurance needs
- Identify exactly what was lost since most people cannot recall items accumulated gradually
- Establish the purchase dates and prices of major items in case of a loss
- Settle your home owner’s insurance claim quickly and efficiently
- Verify losses for income tax deductions
If you do ever have to file a home owner’s claim, you will have a comprehensive packet of information available quickly, and you can be on your way to replacing the items that make your house a happy and comfortable home for you and your family.