Home Inventories: The Best Precaution You’re Not Taking
At Edwin-Claude, our Missouri public adjusters have helped countless homeowners navigate their insurance claims and secure favorable settlements. While we do everything possible to maximize a settlement after a disaster occurs, a home inventory is an invaluable tool for ensuring you’re getting what you deserve if the unthinkable happens.
What is a Home Inventory?
A home inventory is essentially a record of what is inside your home. This can be a written list, a video, or both. To be as all-encompassing as possible is the goal! Your list inventory should include any furniture, clothing, electronics, or other valuable items in your home.
The Value of a Home Inventory
Do you think you could list the entire contents of your home from memory? When a disaster damages your property, you may, unfortunately, be tasked by the insurance company with doing exactly that. When we get involved in a client's claim, part of our process is to work on creating that list for you and removing any stress involved with that portion of the claim. However, when clients provide us with walkthrough videos of their homes from before the disaster, it adds astounding value to their settlements. For example, we were able to add an additional $40,000 of property to a client’s list of losses after they provided us with a video walkthrough of their garage.
How to Create a Home Inventory
Draft up a document that lists every room in your home. This will include closets, garages, the attic, etc. Then, begin listing everything you see in each room. Start with what is immediately visible, and then begin opening any cupboards, drawers, or other concealed areas in the room, listing their contents. Next to each item, list its purchase date, approximate value, and a verbal description.
Be sure not to leave out the everyday items in your home! It’s easy to write down your couch and television, but things like cleaning chemicals under the sink, movies, and games inside the entertainment center, or all the clothes in your closet are all worth adding to your inventory. Without an extensive list, you may be depriving yourself of extra settlement money.
Lastly, make a video walkthrough of your home. Start at the entrance of your home and begin recording as you walk through every room. Walk to the middle of the room and do a full 360-degree spin slowly to make sure you are getting everything. Open up drawers to show what’s inside.
Additional Considerations
Remember that your home inventory is supposed to be a living document. Make sure your inventory reflects any major changes you make to your home, and try to refresh your list once per year so that it never falls far out of date with the actual contents of your home.
If you are reading this after a property loss event and don’t have an inventory, do not panic. At Edwin Claude, we set ourselves apart from other public adjusting firms by hand-creating an inventory list for your home. We will work with you to create a comprehensive list of your losses and make sure that you are covered!
Learn More About How Edwin-Claude Can Help
If you’d like help navigating your insurance policy or claim, our experts are always ready to lend a hand. For a free, no-obligation consultation regarding your insurance policy, or assistance with a claim, reach out to us at Edwin-Claude by phone at (314) 503-0540!
