Ease the claims process with a detail rich inventory

A home inventory can help you get reimbursed faster

Every home is filled with possessions that took someone a lifetime to build. From furniture to clothes to the latest gadgets, homeowners can lose thousands of dollars’ worth of items in a sudden disaster or theft. For families wondering what precautions they should take to protect their valuables, Hunter Insurance recommends creating a home inventory. This exercise is the most important step you can take to safeguard your assets.

“Homeowners insurance is wide and robust in its coverage because it protects you from liability claims, damages resulting from a storm, and it protects homeowners’ personal property in the event of a catastrophe,” said Brian Hunter, president of Hunter Insurance. “However, homeowners can run into some obstacles when making a claim for personal property because they are unable to answer some basic questions from insurers.”

Keeping a detailed inventory of your belongings helps people recover from devastating loss. Additionally, it could also help people determine whether they need to buy additional insurance and provides verification to deduct losses when they file income taxes. Although creating an inventory can sound daunting, Hunter Insurance would like to provide some tips that may help you get started on one today.

  • An inventory can be created in any format such as Microsoft Word or Excel or through photographs, but any inventory should include a description of the item, serial number, purchase date, and estimated value. While each are equally important, it is acceptable if you do not have every single detail.
  • Sometimes it is easier to create an inventory by moving from room to room. For instance, you can start from the biggest items in the master bedroom until you’ve documented every valuable item, and then proceed to the next room.
  • Photography and video can be used to compliment your inventory. You can alternatively record a walk-through of your home, focusing on the items that are valuable. While this method is great for insurance purposes, insurers suggest that homeowners keep this stored in a backup drive or cloud storage.
  • Whenever you purchase a new item, keep the receipt and add it to your current inventory.
  • Protect your inventory by securing it at a bank or in a cloud storage.
  • Make a note of any special items such as jewelry, antiques, or art pieces and speak with an insurance agent to find out whether they are covered in your current insurance policy.

No one expects to lose their belongings to theft or a disaster until it is too late. With some diligence and planning, Hunter Insurance hopes that homeowners are adequately prepared in the event of an emergency, and on the right path to recoup any losses from unexpected disasters. For more information on protecting yourself, speak with one of our agents by calling 401-769-9500.