With all the new electronics and nifty accessories, it can slip your mind to put new items on the home inventory list, just in case you have an insurance claim for fire or theft. Nobody likes to think about an occurrence to their home and property, but you should always be prepared, just in case. The easiest way, besides keeping your receipts for major purchases in a safe deposit box with serial numbers, is to make a yearly video of your home and the inventory.
There are several reasons that this can come in handy on an insurance claim situation. First of all, it can show your total contents, even items you might forget that have value. Antiques and sentimental value items might not have a receipt, but they can be priceless and not easily replaced. The insurance company can see each room and the contents, so it is easier to prove what contents you have.
Many people hold onto their major purchase receipts, but when you look around your home and start adding up the little things like small appliances, drapes, window coverings, vases, art, rugs and other small items, you could have thousands of dollars in inventory that receipts might not be available for. If the insurance company can see how fully furnished your home was, it can help in getting the maximum insurance claim for contents, in the event of a home loss.
Of course, it is a good idea to keep a record of the serials numbers, dollar amounts and dates on major purchases, too. You can always video copy receipts, serial number plates and then zoom video them so you have them easily available in one easy to store disk that can be put in a safe deposit box and easily emailed to the insurance company in case the need arises.
When making the video of your home, it is better to be thorough than not detailed enough. You should also take videos of boats, ATV s, outdoor swimming pools and the rest of your yard and the home s exterior, including roof videos. Trees and power lines can even be important, if they are located close to your home. If a tree falls on your home and smashes the roof, it is easy for the insurance company to see that it wasn t damage from a prior owner or claim.
You can make these videos once a year at least, but some homeowners will update them twice a year, if they make home improvements or make major purchases. Sometimes, it is easy to remember to do this if you time it with changing the clocks and the batteries in your smoke alarms, twice a year. You can decide whether you need to make a new video based on what you have done in the past six month period.
It doesn t take long to video record and have a record of everything on one convenient video disk that you can easily copy or email to the insurance company, should the need arise for a claim. It only takes an hour or so, but it can mean thousands of dollars difference in your insurance settlement check, should the need ever arise.
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