A home inventory is a list of personal properties with descriptions and cost information to be used in a potential insurance claim. This inventory can also be used to decide how much content insurance to purchase on a property. The inventory should consist of every room in a home and all content in each room. Costs and the receipts to support them should be used when preparing an inventory list. Some homeowners take pictures of valuable assets as they are added to the list.
The most efficient method for creating a home inventory is by using online templates and software to store the data. Online tools make it easy to update previous entries and to add new items to the inventory list. This way your home inventory is always current and available in case of claims. Properties to include in a home inventory include; computers, cameras, furniture, televisions, personal electronics, jewelry, works of art, appliances and any other item in a room.
Insurance Information Institute’s Home Inventory Software: Know Your Stuff®
Know Your Stuff® is a free online inventory system provided by the III.org. It is free to open an account at the Insurance Information Institute for the purpose of creating and maintaining a home inventory. This inventory system allows homeowners to enter information about their insurance company and to list all personal items in the home.
The online data storage is free, this feature makes it easy to access inventory information from anywhere the homeowner is located. After opening an account at Know Your Stuff®, the user can inventory all valuables by creating a room and assigning personal items to each room.
StuffSafe Online Inventory System
StuffSafe is also a free home inventory software available online. This program offers account setup with multiple locations and rooms. Inventory reports and online storage are both features in this package. This inventory software works in the same manner as Know Your Stuff®. Homeowners or renters can visit the StuffSafe website and sign up for free to open an account and start inventorying their properties.
Home Inventory List: State Farm’s Insurance® Template
State Farm Insurance® offers a home inventory template to complete and store in a computer. This is a manual spreadsheet that takes the user to each room in a house plus properties that may be included in each room. The list provides space to enter items’ description, cost and date of purchase. This is a very easy tool to use for home inventory; however there is no online storage and the information is maintained in the owner’s computer, unless it's printed.
Having a home inventory makes a potential insurance claim easier to document. A complete list of personal properties will consists of all major items with descriptions and costs; this information is essential when filing a claim. Online tools offer an easy way to create this inventory; they walk the user through all personal properties and some store the information online, away from the home.
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Sylvia Cruz - Sylvia holds Bachelor and Master degrees in Business Administration with majors in Finance and Accounting. She is also a CIA - Certified ...
