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What is a house inventory?
A home inventory is a full list of the personal property located in your house and filed to your homeowner insure online policy. You should also add property that you have put somewhere else, perhaps in a storage area or a garage in the building. Your list has to include your furnishings, jewels, artwork, antiques, appliances, kitchen contents, clothing, carpets, drapes, PC equipment, television sets, compact disk players (and other acoustic or audiovisual equipment), musical instruments, clocks, mirrors, linens, grass mowers, snow equipment, tools, sport equipment, and any other item of value.
Why do I need an inventory?
An inventory is very important for home owner coverage purposes. At time you make an insurance claim for ruined, missing, or stolen possessions, your tenants` policy will require you to demonstrate the quantity, account, real money value (i.e., depreciated value), and amount of loss in relation to every thing. You will also be asked to give copies of bills, receipts, or additional documentation to confirm your data. In case you omit certain items or fail to incorporate a sufficient description of others, you might get less than full reimbursement for your losses. Counting solely on your memory can turn out as an expensive oversight. As an exercise, try to recall every item at your kitchen junk drawer, and then, imagine having to do that for the entire home!
Performing the home inventory.
Going room after room is perhaps the best method to perform your house inventory for the homeinsurance. Make a record of each thing at the room, opening drawers, closets, and storage boxes. Be as explanatory as possible. For example, don`t simply note that a bed is there--describe the headboard, footboard, mattress, and bedclothes, writing down colors and dimensions. Keep in mind the attic, entry closets, cellar, and outbuildings. If possible, try to include the next information for every item:
Item portrayal (and amount).
Manufacturer or brand name.
Model number or serial number.
Description of where (or how) the item was obtained.
Date of acquiring or age of item.
Receipt or other evidence of acquiring, including price.
Current value.
Substitution price.
Copies of any appraisals.
A picture is worth a thousand words.
It often helps to photograph or videotape your possessions, particularly in case the pieces are difficult to adequately describe on paper or in case you don`t have a check. If you have a camera, label each photograph with information concerning the piece shown. If you use a camcorder, provide a commentary about every piece presented. Date-stamp your recording or take a shot of the date on that day`s paper. It`ll help you later to file a property insur claim in case something happens.
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