Questions to ask your insurance company before you create your home inventory:
- Does my homeowners’ policy cover a specific dollar amount for the contents or a percentage of my home’s value?
- How do I know what needs professional appraisals?
- Do I need to keep receipts for every small item I buy?
- Do I have replacement value on my policy? How does that work? Do you pay me for everything I’ve lost, or only for those things I replace?
- How quickly are claims usually processed, i.e. how soon would I get money to buy new clothes and furniture?
Tips for taking a video and photos of your home
- Include a shot of today’s newspaper to show how current the video is.
- You can talk during the video, describing large and/or expensive items.
- It doesn’t have to be one continuous video.
- Include shots of the ceiling, floor, each wall, major items, groups of smaller items, inside cabinets, drawers, and closets.
- Don’t forget the outside of your house.
- More tips are in the Home Inventory Kit.
Possible locations for your home inventory. You want duplicate copies:
- In your file cabinet at home with your important papers
- In your home safe
- In your safe deposit box at your bank
- Online/in the cloud
- With a trusted friend or family member
This Consumer Reports’ article provides information on filing a homeowners insurance claim after a fire:
https://www.consumerreports.org/homeowners-insurance/how-to-file-a-homeowners-insurance-claim-after-a-fire/
This Forbes article explains the difference between an insurance policy with cash value compared to replacement cost. https://www.forbes.com/advisor/homeowners-insurance/replacement-cost-vs-actual-cash-value/
Buy your Home Inventory Kit Here!
The Home Inventory Kit costs $30 and includes:
- An Excel® spreadsheet inventory template
- Step-by-step instructions on how to create your inventory
- Tips to make it easy to create
(The kit will be emailed to you shortly after purchase.)
