Have you ever had to file an insurance claim on your home? If so, you know that the process can be lengthy and frustrating, particularly if you need to scrabble around finding proof of an item’s value. Taking an inventory of your belongings is an easy way to show proof of purchase, and coupled with visual proof of value, the claim process will be much simpler. Read on for some tips as to how to protect the value of your home and contents by taking an inventory.
What is an inventory?
An inventory is a list of every single item you own, from clothes to furniture. This means that if your property is lost or damaged, you’ll have an exact record of what you had at that time. The way you record this information is entirely up to you, but it can take the form of a database, handwritten record, video or series of photographs.
What are the benefits of taking an inventory of my belongings?
Taking an inventory means you won’t be out of pocket in the event of damage, burglary or theft. It can also help you calculate what level of contents insurance you will need, and will make any claim quicker and simpler to process.
What could happen if I don’t take an inventory?
An inventory is particularly useful in the aftermath of a burglary; it gives you a ready-made list to check off, enabling you to ascertain exactly what has been taken. Without one, you may not be able to identify your exact total loss.
How should I categorise my belongings?
The easiest way to record an inventory is methodically. Go from room to room, cupboard to cupboard, noting every item and its value (you can categorise low cost items, such as clothing, as one record, with an estimate of the cost of replacing it all).
Should I visually record my inventory?
Our top tip for taking an inventory is to do so by using video. Walk from room to room, filming the furniture, contents of cupboards, giving a running commentary of your belongings. Pop the video in a folder on your computer afterwards, manually adding invoices or photographs of receipts to show the value of items. Make sure you upload the video to the cloud, so it’s still accessible in the event of the theft of your computer or device!
