Friday, May 14, 2010
How — and why — should I take a home inventory?
Would you be able to list all the possessions you've accumulated over the years if they were destroyed by a fire or other disaster? If your answer is no, you may want to consider doing a home inventory. It may help you get your insurance claim processed faster and make it easier to verify losses for your income tax return.
1. Make a list. Go room by room, starting with newer possessions. If you're just moving into your home, you could do a home inventory while you're unpacking.
3. Use a personal computer. Many financial software programs include a home inventory program that allows you to do a room-by-room accounting of your belongings. Or print out and complete Farmers Home Inventory Checklist and keep it in a safe, accessible place in the event you need to file a claim.
3. Take a picture or use a video camera. Save time: Take pictures or videotape the items in your home and make copies of the tape or DVD.
4. Whatever process you use, you'll probably want to keep at least one copy in a safe place away from your home and you should update it whenever you make a significant purchase.
You may want to consider purchasing a Personal Articles Floater to provide additional coverage for your valuables, such as jewelry, furs or fine arts, when their value is higher than the limits stated in your homeowners policy.
Call me: I can provide information that may help you decide whether your coverage is sufficient.