The cash value of goods may depreciate over time, whereas the replacement cost provides you with enough funds to replace your items. When determining the value of your belongings, be sure to consider the replacement cost of the item as opposed to its cash value. The estimated cost to replace the item if you had to buy a new one today.The date you purchased it and how much you paid for it when you bought it (ideally, include an image of any receipts you have for your goods). Home inventory checklist serial number#A description of the item as well as its model or serial number (if applicable) for things such as a laptop computer or appliance.If possible, include as much of the following details for each item: Home inventory checklist download#You can also download an app to your mobile phone or tablet computer to inventory your goods such as Sortly (iOS or Android), Memento Database, (Android), BluePlum Home Inventory (iOS) or SimpleOne Home Inventory Manager (Windows). If not, store your digital inventory in the cloud using an online storage option such as Dropbox, Google Drive, Apple iCloud, or Microsoft OneDrive. Many insurers provide a mobile app or cloud-based storage to upload digital photos, videos, and details of your goods. What to Include in Your Home Inventory List Use a spreadsheet to complement the images you take by tracking your possessions by room or download and print the Insurance Bureau of Canada’s property inventory checklist to document each item. The easiest way to create your inventory checklist is to take a video or digital photos of your possessions. For example, categorize your possessions by each room in your dwelling (bedroom, living room, kitchen) or by type (electronics, kitchen appliances, clothing). While it may seem like a lot of work, you can simplify the task by breaking it down into a categorized list. Should a fire or flood destroy your belongings or if your abode is burglarized, you can easily verify what items were lost and how much they cost to replace if you need to file a claim. What Is a Home Inventory List?Ī home inventory list documents your possessions in your house, condominium, or apartment. Whether you are a new homeowner or renter or have lived in the same digs for years, a home inventory list is the most effective way to determine the value of your personal belongings and provide a catalogue of all the things you own in detail. That’s why creating a home inventory list is both sensible and necessary. If you file a home insurance claim, insurance companies will often ask for copies of receipts or pictures of the items you lost as proof that you had them in the first place. Having appropriate coverage is critical for your protection in the unfortunate event that something happens to your valuables, but what is the best and easiest way to document your stuff? Whether you own a house or condo or are renting an apartment, everyone needs to have home insurance, condo insurance, or tenant insurance to protect themselves and their possessions. Other similar, helpful apps can be found by searching reviews online to find the one that best works for your needs.< Back to Blog Making a Home Inventory List for Insurance Home inventory checklist free#Start with this free tool from the Insurance Information Institute, Know Your Stuff Home Inventory. A number of free apps can be downloaded to your mobile device so you can inventory the items in your home with ease. Of course, an app is available to document all of your property. Don’t forget to transfer the file to your computer and create a backup so you’ll have this important information if or when you need it. If making a list of what you own seems too daunting, use your camera and take photo or video of all your belongings. Home inventory checklist professional#Special Items That May Require Professional Appraisal: Appliances (Stove, Refrigerator, Dishwasher, Microwave).Electronics (TV, Sound System, Gaming Consoles).See below for a sample checklist to use as a starting point: You can also transfer the information to a spreadsheet and save it on your computer. Remember to make a copy of your inventory and place it in your safe deposit box. Update the notebook as you make any major purchases. As you do this, write down the value of each item, and include receipts in the notebook if you have them. Begin with the larger items, but also make note of any personal belongings you have. It may seem like a tedious task, but your attention to detail will pay off in determining not only the value of your property, but also if it is adequately insured.Ī simple way to get started is to go room-by-room and make a list in a notebook. Creating a home inventory is an important step toward replacing your items if they are damaged or destroyed due to a natural disaster or other incident.
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