When people think of homeowners insurance they often think of protecting the structure of their home. Often overlooked is that homeowners (or renters) insurance also helps protect your personal property, like clothes, furniture, electronics, and other household items. But what happens if these items are destroyed in a fire? How do you prove what you owned?
As with most things in life, there are quick and easy steps you can take to prepare for those future “worst case scenarios.” Though tedious, having an inventory of your personal property is one of those steps. It may be impractical to maintain an updated physical list detailing each item you own, but having some sort of documentation certainly helps the overall claims process in the event of a largescale home insurance claim. Taking this extra step of precaution will help ease your mind during the claims process, improve your memory recall, and assist in proving ownership for replacement.
We suggest at least taking photos and/or videos scanning your house to have basic documentation of your personal property. This includes documenting items stored in:
Closets and cabinets
Garages, sheds, and other outbuildings
Other storage spaces
Taking five to ten minutes of your day to complete this process may save you many hours, and many thousands of dollars, in the event of a large claim.
This article was written by Tori Roughley. Please send questions or comments to Tori at firstname.lastname@example.org.