With the weather warming up and signs of spring starting to show, you might be starting to think about working on some spring cleaning and organizing projects. Working on these projects on the interior and exterior of your house can also make for a great opportunity to make or update your home inventory list. Home inventory lists are a great tool to use in tracking your possessions and determining values for your home and contents. If an emergency were to happen where your possessions were ruined or stolen, a home inventory can take the stress out of filing a claim and figuring out what is missing.
Here are some simple home inventory basics:
- Where to create the inventory: Home inventory lists can be kept on computers, in notebooks, or in online databases. If your inventory is created on a computer, it’s best to keep a hard copy of it in a fireproof safe or in a location away from the house such as an office or relative’s house. The Insurance Information Institute provides a free basic online inventory tool on their website here.
- Organize inventory based on rooms where possessions are kept: Keep lists for the kitchen, bedrooms, media rooms, living room, game rooms, etc., until you’ve covered your house. Breaking up the inventory by rooms can make the task less daunting and can help keep managing the lists easy when items are added, sold, or given away.
- Include photos: Perhaps the easiest and most useful tool in a home inventory is to include photos of each room. Photos show what’s in a room and what condition everything is in.
- Include appraisals, receipts and values for any large items: Appraisals, receipts and valuations kept on larger items are especially important if the item is listed on a floater on your insurance policy. Large ticket items such as jewelry or valuable collections may require additional coverage on your homeowners policy and many companies will require an appraisal and photos be included with the policy information.
Spring clean your files with an insurance review
While you're in the spring cleaning mood, why not make sure your finances and personal documents are organized? After doing your home inventory and reviewing value of your belongings, it may be time to review the values of your coverage on your family's insurance policies. During the past year, things may have changed in your household that could impact your coverage or help save you money on your insurance.
Taking a few minutes to meet with your agents for a free insurance review can help make sure your family's belongings are insured at their current value and make sure you're getting the best coverage for your budget.
For a free review of your policy and coverages, talk to one of our agents today:
Argonne Insurance in Spokane Valley, WA call 509-921-6809
Panhandle Insurance in Coeur d'Alene, ID call 208-664-9223
Kuespert Insurance in Moscow, ID call 208-882-0610