Spring Into A Home Inventory - Home Inventory Checklist
Has warmer weather and longer days got you thinking about spring cleaning? Since it's all about eliminating the clutter, it is also a perfect time to take on the challenge of updating (or creating) your home inventory.Why Have A Current Home InventoryA February 2012 survey by the National Association of Insurance Commissioners found that 59% of consumers did not have a list or inventory of their possessions. And of those that did, more than half had not updated that list in more than a year.In the United States a home burglary occurs every 15 seconds and a home fire occurs every 85 seconds.Florida Insurance Commissioner, Kevin M. McCarty said, “Creating a detailed inventory of your possessions is one of the best ways to ensure you have the right amount of homeowners or renters insurance for you and your family.” With the US accounting for 90% of the global insured losses in 2012 as a result of natural disasters, McCarty's words make sense.Do It YourselfThere isn't anything difficult about creating your home inventory. The National Association of Insurance Commissioners suggests grouping your possessions into logical categories - such as by room, hobby, or family member. And don't forget the infrequently used items such as holiday decorations, sports equipment, and tools. Try to pull together sales receipts, appraisals, serial and model numbers, as well as the date and place of purchase for your items.Store a hard copy off-site in a safety deposit box or with a friend or relative. Electronic versions can be stored online or on a flash drive also kept off-site. NAIC also offers a free mobile app for iPhone and Android users. Search "NAIC" on iTunes or Android Market stores.Outsource ItBusinesses are out there that will inventory and document your home possessions if you decide you would rather not tackle it yourself. But do your homework first. Check with the local Better Business Bureau and only hire those businesses that are bonded and insured. After all, you are allowing someone into your home to document your most valuable possessions.Need HelpSo, are you up to the spring challenge? Remember, a current home inventory can help determine the correct amount of insurance coverage you need, help settle claims faster, and verify losses for your income tax.I have copies of the “Home Inventory Checklist” published by the Texas Department of Insurance available for free. It contains tips and suggestions on conducting your inventory as well as a comprehensive list of items with space for the purchase date and price. I'll be happy to send it to you - just call or email me at 1-888-880-8989 or firstname.lastname@example.org.