How do you create an inverntory for Home Insurance?

Question

Do you need receipts for eveything or will photographs do? Wwhat about CD'S, do I need a photo of each one or will a software prgram like visitrax do the job? Many Thanks

Answer 1

In addition to what the other posters commented (pictures, CD, video, etc) record as many serial numbers as you can.

Now, make a copy of everything and store it somewhere other than your home; if your home burns down your careful organization will not do you any good. I update my pictures periodically and save them to my computer and to a CD. I take the CD to work with me and bring back the old one.

Once you have the list of items, give your insurance agent a call. Some items will be covered right away for their full value, some will be covered only upto a set limit ($1,000 or $2,500 typically) and some will not be covered at all.

You may need to schedule some items to get specific coverage. Examples: wedding rings, computers, CD collections, software, artwork. If you have appraisals, send them to your agent.

If you have any questions about coverage, ask your agent. It is their job to tell you. If you don't feel comfortable with over-the-phone confirmation, ask for a letter from them with explicit covered items spelled out.

Answer 2

You should take pictures or videos of all items, record serial number of products and documents and keep in a safe place. In my opinion the safest place is to upload online, so you could access them from anywhere and will be secured.

RE:
How do you create an inverntory for Home Insurance?
Do you need receipts for eveything or will photographs do? Wwhat about CD'S, do I need a photo of each one or will a software prgram like visitrax do the job? Many Thanks

Answer 3

For physical items, a photo (or many from several angles) works well. The receipt isn't really necessary if you have clearly captured the part number or model number of the item.

For the CDs (and DVDS, software, etc...) what I've done is scan in the cover.

Beyond the actual 'inventorying' that you'll do - you'll need a way to organize it all.

I've seen everything from a website where items were listed and the item was hyperlinked to the image...to full-blown databases that were setup expressly for the purpose.

ultimately it's up to you and how much time you are willing to spend on cataloging your goods.

good luck.

Answer 4

You can tape everything on a camcorder, you do not need receipts of everything. You can also take pictures and load them on a CD and you can do both. Do some talking while you do the recording, if you do, and state what it is and how much it cost's. Great reference even for yourself in case of any emergency

Answer 5

YES, one of my moms friends had heavy damage to her home back in January when the tornados hit mississippi and tore up the school....they had dropped it b/c she had some health problems and they needed the extra money, and then the storm hit and now 4 months later they still have tarps covering half their house bc they can't afford to have it repaired. Tooo many variable out there to not have it!

Answer 6

collect whatever receipts you have, take pictures, walk through your house with a camcorder and tape everything.
Then store everything in a very high quality fireproof box.. or safety deposit box

Answer 7

http://www.knowyourstuff.org
This is the website I recommend for all my customers, it helps you document and record your home inventory and how to keep it safe.