Taking a home inventory could be a tedious task, as you have to create a list of all your personal belongings along with their estimated costs, either in writing or by digital means. Though it seems overwhelming, there are several reasons why you should make time to create a home inventory. Let us discuss them.
Whether you already have home insurance coverage or are about to buy one, creating a home inventory is a must because it helps you:
Despite the type of home insurance policy you buy, you have to decide the coverage amount. How do you determine that? This is where a home inventory can help. If you have the list of your personal properties with their worth, you can decide your coverage amount accordingly. For example, if your total property worth comes to $100,000, you need to buy coverage for that amount to ensure you are sufficiently insured.
If you are about to file a claim for a covered damage/loss, you have to provide documentation of your damaged/destroyed belongings to get reimbursements. Remembering what was exactly damaged can be challenging, especially after fire/storm damage. However, if you have your belongings already documented in an inventory, you can determine what is damaged/lost (using this list). So, you can update your insurer immediately about your loss and get your claims processed and paid quickly.
A home inventory list, including your appliances like HVAC units, lawn gear, etc., can help schedule maintenance for them, ensuring they perform well at all times.
With the home inventory list, you can easily pinpoint the regularly used things and the ones that have been unused for quite some time. If the unused items remain in good condition, sell them. Otherwise, throw them away. Either way will help clear some space.
A home inventory list will help you plan your relocation, like the number of boxes you need to pack your things, whether you can do it yourself or you need to hire movers, etc. Also, the list will help you cross-check whether the movers (if hired) have moved everything or if anything is missing or lost.
With a home inventory list, you can precisely create a will by equally assigning items to your beneficiaries. This will help remove uncertainties and ambiguities concerning dividing up your possessions.
If you are getting married, a home inventory list will help you determine what items you still need to buy and if there is anything you can get rid of. For example, if you and your partner both have toasters, you can give away or sell one, as one is enough for you.
Some of these reasons can also help with buying/customizing insurance. If you keep your appliances well-maintained, insurers won't charge high premiums. If you declutter or buy any new items, you can cancel or update coverage accordingly. Undoubtedly, a home inventory helps with insurance and lifestyle planning.
If you are looking for comprehensive home insurance to adequately insure your home and personal belongings, contact us today at Scavone Insurance Agency, and we will help you get the best quotes personalized to your needs.
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