Updating your home inventory in the New Year.
Did you know that January is Get Organized Month? Once the holidays have wound down, we all get a surge of motivation to get all of our ducks in a row for the New Year ahead. One of the best ways to start 2019 on the right foot is to ensure your home and belongings are well protected. When was the last time you updated your home inventory? When you first created the inventory? When you donated your couch? Now that you’ve received some wonderful presents from under the tree, it’s time to update your documents.
A home inventory is your master record of all of your possessions so that you can refer to what was lost in the event of a fire, theft, or natural disaster. Your insurance claim is based on that record, which helps you to create your proof of loss. This means that if your home inventory isn’t up to date, you may not be fully protected. Take a look at our top tips on how to update your home inventory to celebrate Get Organized Month!
Move room by room
The easiest way to update your inventory is to move room by room, examining the items currently listed in each space. Then, you can scan the list of items and photos to determine what additions, deletions, or corrections need to be made. Some rooms may require few, if any, changes. Others, such as the living room with the brand new TV or antique coffee table you inherited, will require a bit more consideration.
Have valuables appraised
Have your high-value belongings been sitting in a storage box for some time? If so, it could be worth getting these items appraised. Some belongings, such as gemstones and gold, increase in value over time. Pass the appraisals on to your insurance representative to insure those items separately.
Stay on top of your inventory
Remember to update your inventory every time to buy/sell/donate items. Each time you receive an email with a digital purchase receipt, remember to save it somewhere safe so that you have a record of the purchase. Do the same with paper receipts for your belongings, too. It helps to review your inventory regularly to save time.
Keep it safe
Whether you have a written inventory or a digital document, you will want to keep this list safe. If you store it digitally, place one copy of it in the cloud so that you can access it from anywhere. Also, it is a good idea to email a copy of it to yourself – just to be safe. If you have a paper document, make copies and keep them in fire-proof safety boxes.
Need some help getting started? Check out this guide to create your home inventory list.
For any additional questions regarding the claims process or a homeowners insurance policy, please contact your trusted team at Reata Insurance Group, located in Lakeway and serving Texan homeowners.