×
Menu
Search

The Benefit of a Household Inventory – Part 1

If you haven’t already done so you might consider completing a household inventory of your family’s possessions.  The obvious reason is its aid in filing an insurance claim for a loss of property.  In the case of a fire, theft, flood, hurricane or any other event casualty that takes or otherwise destroys your personal property this list can help you in the process of getting reimbursement through your homeowner’s or renter’s insurance, and if you ever have the misfortune of having to pick up the pieces after one of these disasters it can make the road to recovery somewhat smoother.  It’s a daunting task for sure, but compared to going back after losing everything and trying to reconstruct a list of the contents of every room, it is time well spent.

Here are the basics:  The first thing you need to do is speak with your insurance agent and be sure you fully understand what your current policy covers.  Second, fill out the complete inventory sheet of all your possessions.  Third, compare the current value of your possessions to your existing coverage.  You may discover previously unknown gaps in your coverage, or that you have too little or too much coverage compared to the total value of your possessions.  And lastly, take your list and store it somewhere safely outside your home!  Put it in a safe deposit box, or take a copy to stick in your drawer at the office.  Just don’t leave it at home.  Don’t go through the trouble of completing this very necessary exercise only to lose your list along with your possessions in a fire.

Please visit my website for more home buyer and home seller tips, and tune in next week for Part 2 of “The Benefit of a Household Inventory” to find additional tips to make the completion of your inventory faster and easier AND information on potential tax relief relating to property loss not covered by your policy.

READ MORE ARTICLES

FROM OUR BLOG
What Should Buyers Include On Their Home Inspection Checklist?

What Should Buyers Include On Their Home Inspection Checklist?

Before investing in a home, it’s important to complete a home inspection.…

Read More
What is a Pocket Listing?

What is a Pocket Listing?

Pocket listings stand out as a unique and discreet option for buyers…

Read More
What Happens During a Home Appraisal?

What Happens During a Home Appraisal?

When navigating through the process of purchasing or refinancing a home, one…

Read More

the jana caudill team
has sold more real estate in
nwi than any other realtor!

work with us

The Jana Caudill Team delivers unparalleled service to all of our clients with honest representation, communication, attention to detail, and results. Reaching your goals is our number one priority.