Store Two Copies Of Your Household Inventory - One Outside Your Home If you do want to do these estimates before you begin you need to find out if you have an actual cash value policy or a replacement value policy. If you have a policy maximum which will only pay half of your estimated value, for example, you should consider buying more coverage. Having said that, you may want to estimate values for your own use, to determine if you have enough insurance coverage. They have sophisticated computer models which spit out this data for them. The insurance company will not rely on your estimate anyway.What may be an accurate estimate one day may not be the next.
An item's value changes depending on its age, condition, and many other variables.We may either severely overestimate or underestimate something's worth.
#TWO REASONS YOU SHOULD COMPLETE A HOME INVENTORY. PROFESSIONAL#
Take Photos And Videos Of All Your Stuff - It Is Much Faster Than Writing Everything Down On the other hand, they do need to know on your desk you had a computer, flat screen monitor, and printer. Therefore, the best place to focus your attention is on the biggest ticket items that will cost the most to replace, and not focus too much on the minutia.Īn insurance adjuster, for example, doesn't really need to know you had 16 pencils in your desk drawer. The purpose of a household inventory is to show an insurance adjuster, when you need to file an insurance claim, what you owned that has been destroyed or stolen so you can get money to replace it. The Purpose Of A Home Inventory Is To Prove What Stuff You Own - Especially The Expensive Stuff The secret is to use a digital camera and/or video camera to speed up the process.
Creating a home inventory can take lots and lots of time if you let it, but it doesn't have to.