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The Importance of a Home Inventory for Future Insurance Claims

You might not think that having an inventory of all the items in your home is important, but in fact it is vital! If your home is damaged by flood or fire, or if possessions are lost or stolen, an inventory will help you to find how much an item is worth so that you can claim for reimbursement from your insurance company.

Explosion Causes Damage

Consider the recent news in Clark County, where an explosion in a home caused $45,000 worth of damage to the building and the occupant’s belongings. It is still not certain what caused the explosion, but it could have been a faulty stove or a gas leak which led to the fire. If the home owner did not keep a full inventory of his belongings, this could cause problems when he comes to claim for insurance. Whilst claiming for a broken or missing item is easy (as you know exactly what went missing and how much it was worth!) it may be difficult to remember everything you owned in the event of damage by fire or flood – not to mention that you will be under extreme stress, so may not be thinking clearly.

How to Complete an Inventory

In the event of fire damage in Henderson you will need to show the inventory to your home insurer, so it’s vital that it is clear and easy to understand. Follow these steps to ensure that your home inventory makes the grade.
There are a few items you will need before starting to complete your Inventory:

1. Digital or video camera – you can take photographs or video items to prove ownership
2. Pen and paper or Excel spreadsheet to record your inventory – it’s often easier to use a program such as Excel for future edits
3. Receipts – you will need receipts for all your goods, if available, or bank statements as proof of purchase

Begin with larger items in your home, such as furniture, appliances and antiques and work on a room-by-room basis, beginning in the kitchen. You can number and scan receipts to store alongside your Excel file, if using digital methods of recording. Make sure to photograph each item and find proof of purchase for each of your possessions, if possible. Where receipts are unavailable, photographic or video evidence could provide proof of ownership, so don’t leave anything out.

Work your way towards smaller items such as home accessories, jewelry and clothing. If you’re filming items in cupboards or drawers, ensure to move the camera slowly and steadily to capture all the necessary information. Don’t forget that you will need to update your home inventory regularly, so try to set a schedule – perhaps once every 3 or 6 months (depending how many new items you buy). Remember that in the event of floor or fire damage in Henderson you will need to show this information to your insurance company, so it needs to be as accurate as possible at the time of your claim.

 
Ultimate Choice Restoration are a professional company who have been providing services to the Las Vegas Valley area since 1994. Fully licensed and insured, they offer services to those whose homes or workplaces have been damaged by fire or water and can also offer mold removal and other repairs. If you have been a victim of water or Fire Damage Henderson, they can help you.

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