Buying a homeowner's insurance policy will give you peace of mind and protection over your things and your house if anything happened to these things, and if you have a loan on your house, having homeowner's insurance will not be an option; it will be a requirement. If you ever need to file a claim on your policy for a loss of personal belongings, it will be very helpful for you to have a list of everything you own, and this is often called a home inventory.
What is a home inventory?
A home inventory is typically made up of a list of everything you own, but it is not limited only to a list of your personal belongings. Your home inventory should also contain pictures, videos, and receipts of the things you own. The purpose of having a home inventory is to prove what you own in the event that you must file a claim on your policy. If you ever have to file a claim, you could use your home inventory as proof of what you owned, and you would not have to worry about creating a list and then trying to prove the value of your things and that you owned them. It would all be on this list.
How do you complete a home inventory?
If you ever lose your home to a fire, your insurance company would ask you to create a list of the things you owned, the dates you purchased the items, and the costs to replace them. Instead of trying to figure this out after a fire occurs, you would already have the list ready. To do this, it is best to work room by room creating a list of everything you own, and you should make sure you list every single item. Additionally, take a video and pictures of everything you own. When you buy an item that is of significant value, take a picture of the receipt. You can then keep all this information together in a file on your phone or computer. When you need to submit this information, it will be easy for you to find.
Why is this so important?
The main reason to consider doing this is to make your life a lot easier if you ever lose your belongings and must file a claim for them. This would simplify the claim's process and would help you receive the full amount of compensation you deserve. If you have questions about this, talk to a home insurance agent today.