What to know about home inventories.

Creating and updating your home inventory is an important part of being a responsible homeowner.  In fact, when you secure homeowners insurance in Ventura, California, your agent will actually advise you to keep an inventory on hand.  But why are home inventories so important, and how do you go about making one?  Here’s what you need to know about home inventories.

What is a Home Inventory?

A home inventory is a detailed list of all the belongings in your home.  Each item should include photo documentation, a written description, its estimated value, and other pertinent information.

Why Do You Need a Home Inventory?

Having an updated home inventory is essential to managing your homeowners insurance.  This is because your inventory is a comprehensive list of all the items you own.  In the event of an emergency, you can reference your inventory to see which possessions you need to file a claim for.  Your inventory also documents the value of each item, which helps you secure an adequate amount of personal property insurance.

Tips for Making a Home Inventory

  • Go room to room when creating your inventory. Do not forget to include the items in your basement, attic, and other often-forgotten storage areas.
  • Don’t try to finish your inventory all at once. This will cause you to feel frustrated and rush the process.  This could lead to serious mistakes when recording and documenting your belongings.
  • While your inventory should include every item in your possession, be particularly meticulous when documenting valuable items such as jewelry, artwork, collectibles, electronics, furniture, and so on.
  • Your inventory should include as much information on each item as possible. For instance, you should include photos, receipts, and a written description of each possession whenever possible.
  • For your high-value items, you should also include an appraisal report, so you can show that an expert verified the item’s listed value.
  • Every year, you should update your inventory, making sure to add any new items that you have acquired and removing any old items no longer in your possession.

This is what you need to know about your home inventory.  Do you have further questions about home inventories or your homeowners insurance in Ventura, California?  If so, then contact the experts at John E. Peakes Insurance Agency.  Our dedicated team is eager to assist you with all your home coverage needs today.

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