Know AAA

Home inventory help

INSURANCE—Compiling a personal property inventory list for insurance purposes is essential for homeowners and renters. The stress of dealing with a loss can be minimized if a concise inventory is in place before a claim occurs, and will also help determine if you have adequate coverage for your possessions.

The inventory should include a description of each item, its room location, purchase date, cost, and serial and model numbers. Creating a room-by-room inventory of all home contents is made more efficient by using a camera to document every item.

Items such as antiques, jewelry, sporting goods, major appliances and collectibles are difficult to value after a loss. Copies of receipts and current appraisals for the most valuable items should be kept with the inventory.

For someone who has lived in the same house for many years, the task of creating a list can be daunting. Start by recording the details of recent purchases, then document existing possessions one room at a time until your list is complete.

The completed inventory, photos, and any supporting receipts and appraisals should be stored securely at a location away from the home, and updated annually. The Insurance Information Institute provides a free downloadable home inventory planner at www.knowyourstuff.org, or contact your insurance agent for more information.