After a natural disaster, fire or water loss, it is overwhelming to remember details of the belongings accumulated over the years. Taking the time to document them NOW will help with a faster post-loss recovery. Here are some steps you can take to build and manage a personal property inventory:
Step 1: Walk Through Your Entire Property. First, take pictures of relevant rooms and items. Label pictures of rooms and important individual items with a description, including where you bought it, the brand, model and serial number. Don’t forget to inventory items that may be out of sight in storage closets or drawers. Second, walk through your home or office using your phone or other device to shoot video of the contents, describing them as you go. Step 2: Keep Your Inventory in a Safe Place. Creating a digital home inventory and storing it off-site will help ensure that it won’t be lost, stolen or damaged during any disaster at your home. You can store it electronically or as hard copy in somewhere such as a safety deposit box. Step 3: Update Your Inventory. When you make a significant purchase, add the information to the inventory immediately while it is fresh on your mind Step 4: Remember Your Business Property. Most people will only think of their home when making an inventory. It is important to document the contents of your business being stored at your home or place of work. Step 5: Document Valuable Items. Jewelry, art, and collectibles may have increased in value since you brought them into your home. This is a great time to check with your agent about coverage for these items, as they may need to be insured separately.