Protect Your Assets: Household Inventory
Unfortunate events like fire, flood, and burglary can displace you from your home and take away your possessions in an instant. That is why it is so important to not only have adequate insurance but also detailed records of all your possessions.
Insurance companies will require proof of the contents of your home and other structures before they cut you a check. Knowing this, I decided to take our video camera to make a visual inventory of all the items and structures on our property. As I walked around I described the contents and the approximate price we paid for each item. When complete, I transferred the video to my computer where it is backed up regularly to an external hard drive. I also made a DVD copy to keep in a fire safe and at an off site location. If we ever have to make a claim the insurance adjuster will have a visual reference for the items and it will help ensure that we receive fair compensation for everything we own.
I recommend using an HD camera with an external light to clearly capture items that may be in poor lighting. Make sure you record everything including collectibles, artwork, jewelry, antiques, furniture, electronics, etc.
As you know, insurance companies have stipulations, exceptions, exemptions and many other ways to get out of paying claims. Having a household inventory will provide peace of mind and help speed up the claim process so you can your life back to normal.