Home Inventories for Homeowners and Renters
When most people shop for homeowners or renters insurance, they
erroneously guess a value for all their possessions and focus solely
on controlling the cost of what seems like just another bill. Can you
accurately list from memory everything in your house? How many
necklaces and rings do you have, DVDs in your movie library, and
exactly what type of digital camera is it? Most people struggle to
answer such questions, let alone in a situation of post-traumatic
anguish. This is why the need for creating a home inventory is so
prominent.

A Basic Home Inventory
If you haven't created a home inventory, thinking of starting one can
seem like a monumental task, especially if you've been living in your
home for a long time. While the best time to start your list is when
you're just starting out in your first home or apartment, or have just
moved to a new home, it can still be an achievable task in that home
you've lived in for several years. Just go through your house or
apartment one room at a time.

Try to get serial numbers for the big ticket items, and write down
when, where, and for what price you purchased each item. Make sure you
remember to go into closets, cupboards, and storage areas and write
down the items in these as well. While some items you own have
depreciated in replacement price (televisions, electronics, furniture,
etc.), some items may have increased in value (such as art, jewelry,
and collectibles). You may need to insure these items separately;
check with your insurance agent and find out if your current policy
adequately covers these valuables.

Take Pictures or a Video of Your Belongings
It is a good idea to take pictures or make a video of the items in
your home. If you take pictures, write the details of the items on the
pack of the picture. If you make a video, narrate as you walk from
room to room (what items are in the room, when and where you bought
them and for how much). Photographing or videotaping your home's
inventory can be especially helpful if items are hard to describe on
paper, or for items you do not have receipts for.

What Identity Theft Protection is Right for You?
As with any insurance product, it is important to shop around for the
best Identity Theft insurance coverage as rates and protection levels
vary from company to company. When considering the appropriate policy
deductible, consider the various costs associated with the crime.

Store Your List in a Safe Spot
Make sure you store your list, pictures, and/or DVD or video tape in a
safe spot. While it's a good idea to have a copy at home, make sure
you have at least one additional copy outside your home. If you only
have one copy inside your home (or on your home computer) and your
home burns down, that list won't do you any good. If your inventory is
on your computer, make a disk or CD and store it elsewhere, and/or
send your list to yourself at work or to your web-based email account
so you can access it in places other than your home.

Keep Those Receipts!
Many of us are not great at keeping our receipts for the purchases we
make. Now that you've read this article, make sure you keep receipts
from now on, especially for those big ticket items. These receipts
will help you settle your homeowners or renters insurance claim as
quickly as possible. And remember; keep receipts (or copies of them)
in a place besides your home, along with a copy of your home
inventory.


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