| If you want to protect your personal possessions in | | | | removable hard drive and then store them away |
| case of a disaster or fire, you need a complete and | | | | somewhere safe - not in your house. Make copies |
| up to date home inventory to ensure that you get | | | | and store them in a safe deposit box or a with a |
| properly reimbursed from your Insurance Company. | | | | member of your family. |
| 1) Prepare a home inventory list now - before you | | | | 5) Enlist the aid of your grandchildren, family, or |
| have any loss. Include a description of the item, its | | | | friends and have each of them perform an inventory |
| age, replacement cost, where purchased, and if the | | | | of the items in the home. Maybe assign each a room. |
| item was a gift, indicate when you obtained it. Do | | | | Have them use their written list as a script so that |
| they best you can. You will find that on the first go | | | | they don't get too far off topic. Make it fun and take |
| through you won't remember a lot but as you revisit | | | | your time. Having your grandkids do it may serve as |
| it, details should start to pop back into your memory. | | | | a fond souvenir of them as little kids. |
| Don't forget to include items in the garage, attic or | | | | 6) Update your inventory annually. A good time of |
| backyard. | | | | year to do so is around the beginning of the year, |
| 2) Be sure your homeowner's insurance policy | | | | right after the winter holidays, as that is when you |
| contains a Replacement Cost Endorsement for your | | | | have probably added the most to your contents. |
| contents. It only costs a few extra dollars per year | | | | 7) If you received a real estate appraisal when you |
| and is well worth it. If you have any collectibles, | | | | bought your home, make a copy and keep it with |
| expensive jewelry, silver, etc., be sure to let your | | | | your contents inventory information. An appraisal |
| agent know this. It may be necessary to "schedule" | | | | should contain a floorplan as well as descriptions of |
| some of the items so there is sufficient coverage. | | | | flooring, roofing, walls, countertops and other items |
| Your policy will most likely limit the amount for | | | | attached to your home. This is critical information the |
| various items, so be sure to ask your agent to | | | | adjuster will need. |
| explain other coverages or options if you want to | | | | If you do have a loss, keep in mind that the |
| insure those valuables. | | | | insurance company will apply depreciation to each |
| 3) You can use seasonal catalogs to help remember | | | | item based upon the age of the item. The |
| various holiday items that you had stored away and | | | | depreciation will reduce the amount of money they |
| not recently used. This can include Halloween, Easter, | | | | will pay you until those items are actually replaced. |
| anniversary and other unique decorations that you | | | | Once replaced, you will need to provide receipts |
| only pull out once or twice a year. | | | | proving you spent the replacement cost amount for |
| 4) Use your camcorder or digital camera to | | | | the items. |
| videotape your house or shoot photos to document | | | | If you do suffer a loss of contents, start making a |
| your items. Go room by room. Be sure to open | | | | list of damaged items as soon as possible. You can |
| drawers and look in closets. Store the video or | | | | go back later to search for prices and add |
| pictures at an offsite location like your office or save | | | | descriptions and ages. It is easy to forget as time |
| to an electronic back-up system. You can use your | | | | goes by. Don't submit your list until you feel it is |
| written home inventory list as a script as you go | | | | complete. Don't let your insurance company rush you. |
| through the house. If you know how, put your | | | | They will want to have you sign off on the list |
| photos and video on a USB drive, DVD/CD disk or | | | | before you are ready. Expect that and be ready. |