Organizing is what you do before you do something so that when you do it, it is not all mixed up
— A. A. Milne
Why is a home inventory so important?
Most homeowners are underinsured and not prepared if their home is significantly damaged. Every insurance company strongly recommends having a home inventory which helps solve both of these problems. According to the National Association of Insurance Commission (NAIC), 70% of current homeowners do not have a home inventory.
Why should you do it?
Creating a documented account of what you own can help keep you organized, prepared, and aware of the items around your home. Gaining a better view of what you own and the details of these items can make the difference when recouping the total value of your losses versus the stress of trying to remember what might have been lost. So in case of damage to your home, you will have this data available to you. It can also include other spaces like a storage unit or a garage. Being prepared can reduce the pain and stress you undergo when a home is damaged.
What are the benefits of a Home Inventory?
A home inventory can help you:
- – Know where you locate your belongings so that you can access them easily.
- – Eliminate duplicate item purchases.
- – Create reminders of equipment maintenance to reduce high replacement costs.
- – Ensure you are properly insured.
- – Proof of items in case of damage or theft.
- – Create a moving list when it is time to move.
- – Create an estate planning.
Why should you do estate planning?
Estate planning is becoming more and more challenging due to the number of items we own. And many clients are documenting their belongings to ease the burden on their children”, says Cindy Hartman of Nationwide Inventory Professionals. “Some of our clients shared the sorrow and emotions they endured settling their spouse’s estate and how they wanted to spare their children from that same turmoil.”
How can we help create Your Inventory?
Some tools help streamline your process of building a home inventory. Creating an inventory with essential photo documentation provides a simple solution to gathering home inventory information. Taking a video of your home can get your information documented quickly. Using binders and printed materials is another way to track a home inventory. A good home inventory includes receipts, warranties, and owner’s manuals.
What do we need to do it?
- Computer and Software
- Binder or Filling
- Receipts, warranties, manuals