Straight Talk About Protecting Your Property

A personal property inventory for homeowners and renters

Whether it's a single-family house, townhouse or an apartment, and whether you own or rent, your home is a major source of security, pride and privacy for you and your family.

It also represents one of the biggest investments you're likely to make in your lifetime.

Your Professional Insurance Agent recommends that you look over your homeowners or renters policy carefully to make sure it covers your needs and your investment.

Policy Coverage

A homeowners policy typically covers your home, other structures, personal property, personal liability coverage, medical payments to visitors and damage to other property.

Review the following to make sure you have adequate coverage:

Check the value of your home from time to time. Real estate prices and inflation affect its value. The amount of coverage should equal full replacement value.

The coverage limit for personal property is usually 50% of the dwelling's value. After you total the amount on your inventory, you may want to consider an endorsement for additional coverage for jewelry or other valuables.

Remember to increase your coverage if you make home improvements.

Check the difference in premium between the minimum and higher-deductible options. A higher deductible may keep you from filing as many claims, and numerous claims can lead to a rate increase.

Check to see if your policy provides coverage for replacement cost or the depreciated value of your property. In most cases, you'll want replacement cost coverage.

Why Make A Home Inventory?

If your home burned down today, could you list all your possessions?  It's likely that you couldn't -- unless you had a detailed record of all your household possessions.

An inventory can help you determine the value of your property and insurance requirements, record the date and cost of major items, identify items lost or damaged, speed up settlement of your insurance claim and verify losses for tax purposes.

After a loss, you must notify your agent or insurance company as soon as possible. You're also obligated to do what you can to prevent further loss and to prepare an inventory of lost or damaged property.

How To Take A Home Inventory

This brochure will help you prepare an inventory of your property before a loss.

List your possessions room-by-room, noting the dates of purchase and price, and serial numbers, if available.

Photographs are a valuable backup to a written inventory. Note the date and room on the back of each photo. A videotape is also excellent. Show a newspaper or magazine to establish the date.

Keep the written inventory and photos or video in a safe place away from your home. Also keep a copy of your inventory at home for periodic updates. As you pay bills each month, take time to add any major purchases to your inventory.

For valuable items such as jewelry, antiques or other collectibles, you should have the items appraised and file a copy of the appraisal with the inventory.

Check with your Professional Insurance Agent to see if you should purchase an endorsement for additional coverage on your other valuables. Also ask your agent if your insurance policy covers replacement or depreciated cost of your property.

 

Article, Description, Quantity	Date Purchased	Purchase Price
Dining Room Carpet/Rugs Curtains/Drapes Table Chairs Buffet Lamps/Fixtures Wall Hangings China Silverware Glassware Linens Other Living Room   Curtains/Drapes Couch Chairs Tables Lamps Wall Hangings Clocks Stereo/Radio Electronic Games Computers TV VCR Video Camera Tapes/CDs/Records Books/Bookshelves Plants Accessories Other Kitchen Curtains Rugs Cabinets Light fixtures Clocks Wall Hangings Tables Chairs Stove Microwave Oven Refrigerator Freezer Dishwasher Toaster Coffee Maker Mixer Dishes China Crystal Cutlery Utensils Pots/Pans Radio Telephone Answering Machine Small Appliances Other Bedrooms Carpet/Rugs Curtains/Drapes Wall Hangings Mirrors Beds Mattresses Box Springs Tables Lamps Chests/Dressers Desks Chairs Telephones Clocks Stereos/Radios TV/VCRs Plants Accessories Women's Apparel Men's Apparel Children's Apparel Other   Bathrooms Carpet/Rugs Curtains/Drapes Shower Curtain Wall Hangings Mirror Clothes Hamper Scale Towels Health/Beauty Supplies Hair Dryer Other Linen Closet Sheets Blankets Pillows Pillowcases Towels Washcloths Tablecloths Placemats/Napkins Other Basement/Attic/Garage Washer Dryer Vacuum Cleaner Humidifier Dehumidifier Portable Heater Electric Fans Air Conditioner Furniture Luggage Recreation Equipment Bicycles Toys Holiday Decorations Picnic Coolers Lawn Mower Garden Tools Snow Shovels Snow Blower Ladders Tools Lawn Ornaments Lawn Furniture Cooking Equipment Picnic Table Other Special Valuables Jewelry Furs Silver Antiques Art Cameras/Equipment Computer Hardware Computer Software Musical Instruments Stamp Collections Coin Collections Firearms Business Property Other