That’s where a home inventory comes in. A home inventory is a detailed list, most frequently including photographs, of all of the personal property in and around your home. The more details, including purchase price, warranty information, and serial numbers, your home inventory captures, the better! Home inventories should also include pictures of landscaping and any possessions not in your home, such as the contents of your storage unit.
Now that you understand what a home inventory is, you may be asking yourself whether or not you need one. If you are a homeowner, renter, or small business owner, you definitely need one! There are a variety of reasons you should have a home inventory.
1. To be prepared in the event of a disaster
Should you have to file an insurance claim as a result of a disaster or burglary, your insurance company will ask you to provide a list of everything you lost. Can you remember everything in your home, or even a portion of your home, without looking? Having a complete and comprehensive home inventory report prepared by a third party will save you thousands of dollars, hundreds of hours, and immeasurable anxiety should you ever need to file an insurance claim. Whether the cause is burglary, natural disaster or fire, our home inventory service will provide you with confidence and peace of mind that your insurance policy will work for you.
Home inventories are also a great measuring stick for your insurance coverage. With a home inventory in hand, you and your insurance agent can review your current coverage and make sure you have not only enough coverage, but also the correct coverage, for your home and its contents.
2. For estate planning purposes
Taking inventory while dealing with a personal loss can be overwhelming. Planning ahead and preparing a complete inventory makes estate planning easier and helps to make certain that the estate owner’s wishes are fulfilled during a settlement and makes the distribution of assets, especially those with sentimental value, much less difficult.
3. For pre-nuptial or divorce settlements
Whether you are beginning or ending a marriage, a home and/or small business inventory helps provide the physical asset value of your possessions. An inventory also provides peace of mind to adult children of parents who remarry to help ensure their inheritance is protected.
4. When preparing for a move
Items are often damaged or lost during a move, whether you are moving down the street or across the country. How can you prove to your moving company that you owned a set of golf clubs that didn’t show up at your new house? Completing a full inventory prior to a move can be a great asset should you need to file a claim with your moving company.
If you identified with one of the items above, don’t wait any longer! Contact us today for a free consultation.