|Creating and maintaining an inventory of
your possessions can be very helpful at claim time to ensure that you
claim all the items you lost in a catastrophic claim.
After a catastrophe strikes is the worst time to sit down
and recollect all the valuables you have purchased and stored away.
An inventory created before a loss is the only way to be sure you have a
complete listing and can be compensated fully.
Another important reason to perform an inventory is that
it helps you assess whether you're carrying adequate limits for your
coverage. My bet is you'll be surprised at how much you have accumulated.
An insurance company will estimate the repairs to your
dwelling structure, but the list of contents is left up to the insured to
create. That is why having a household items inventory is so helpful.
We've provided you two ways to create your inventory.
First is a simple yet effective Excel spreadsheet. It enables you to
list items line by line, room by room and fits most situations. Even
though it is quick and dirty, it gives you a summary of your items that
can be printed out or saved and stored elsewhere.
A second option is a much more elaborate and
comprehensive program available as a service provided by the Insurance
Information Institute. This program allows you to create a complete
inventory using an installed little program that is quite powerful.
You can even save copies of receipts and digital photos with the inventory
items. Try it out! Go to this link to download it.