Tornadoes. Hurricanes. Theft. Fire. No one wants to think that the “unthinkable” could happen where they live. But it does, to thousands of Americans every year. One way to prepare, protect yourself, and put your mind at ease is to create a home inventory so that you’ll be compensated for “the right stuff.”
A home inventory is basically a checklist of everything you own. If you ever have to make an insurance claim, then having a home inventory will:
If you still don’t think you need one, try the “five-minute” test or the “one-room” test. Give yourself five minutes to stand in one room of your home and list everything you see. Estimate the replacement cost of each item, and you’ll be amazed by how quickly the total adds up. Even the contents of your closet or kitchen alone are probably worth a lot more than you’d expect.
Making a list of everything you own may seem like an overwhelming task, but the best time to begin is now. Any preparation you do is better than nothing at all.
Once you’re confident that you have “the right stuff” on your list, you may want to contact your insurance company to make sure your coverage is correct. Having them review your policy along with your new home inventory can help you determine whether you have enough insurance to cover a major loss, or if you’re paying for more coverage than you need.