A home inventory can help you:
- Buy the amount of insurance you need.
- Get your insurance claim settled faster.
- Verify losses for your income tax return.
- Keep track of all the things you've accumulated over the years.
Getting Started - Creating a Plan
Having a record of what's inside your home will make it easier to provide this information to your insurance company, if your home is damaged or destroyed. There are many ways to create a home inventory. It may seem hard at first to record information about everything in your house, but don't let that put you off.
First, decide on a method that works best for you. You can do it room by room, category by category (furniture, electronics, etc.), from newest items to oldest, or from most expensive purchases to less expensive ones.
Various Methods for Taking Inventory
There are different ways to make your list. You can write everything down in a notebook, for example. Or you can take pictures, writing information on the back of the photos or storing the information on a computer. If you have a camera, you can also walk through your house filming and describing the contents at the same time.
Keep receipts, when they are available, and note the cost for each item, when you bought it and other information about the make and model. Expensive items like jewelry and artwork may need to be insured separately. Ask your insurance agent whether you need a floater for your homeowner's policy.
Store a copy of your home inventory in a safe place outside of your home – with a friend or in a safety deposit box. If you have an iPhone or Android phone, you can also search the app store to find a home inventory app, some of which are free. Using an app can provide an easy way to store and access your home inventory. Also, whenever you make a significant purchase, remember to add the information to your inventory while the details are fresh in your mind.
Source: Insurance Information Institute
Be Prepared with Comprehensive South Carolina Homeowner's Insurance
At Farm Bureau Insurance, we hope you never experience a loss of your home, but just in case, we want you to be prepared. Learn more about the various property insurance policies that we offer to our South Carolina members. With local agents, drive-in claim centers throughout the state and a 24/7 Customer Service Call Center, we can quickly and fairly process your claim to help you get your life back on track after a loss.