| We've all been told by our homeowners' insurance providers, our local
police departments and security experts that we need to conduct an inventory of
our personal possessions. And most of us put it off. We're busy, and creating
an inventory is hovering near the bottom of our "to do" lists. Besides, where
would you start? What's valuable, and what isn't? How would you guess the
worth of your possessions, and just how thorough do you have to be?
First of all, it's important to stress why you should conduct a personal
inventory of your possessions. In the event that you suffer a loss - from
fire, water, Mother Nature (a tornado or hurricane, for example) - your
ensuing stress will be greatly reduced if you've taken the time to conduct
an adequate inventory long before disaster strikes. Consider the stress you
face immediately following a disaster. Your insurance company asks you for
specific details concerning the possessions you lost. If your home is a
total loss, how would you begin to attempt to compile a thorough list of
those possessions, especially in your frame of mind?
Having an accurate inventory will help speed up the process of filing and
processing your claim. The bottom line is that you'll be compensated much
faster if you have documentation that allows your insurance company to
determine an accurate estimate for your losses.
The easiest way to begin your inventory is to create a chart with the
categories listed below. Make multiple copies of the chart, using one chart
per room.
Your categories should be the item, the approximate date/year of purchase,
their approximate price at the time of purchase, and their estimated value
now. These will be very "ballpark" estimates, of course, but you'll want to
give this project careful consideration. Don't shortchange yourself, but
don't exaggerate, either. If you're a compulsive receipt-saver, you're in
luck, since you'll be able to look up your expenditures and record each
price to the letter. If you simply can't remember how much you spent on any
given item, leave it blank, and come back to it later.
Your possessions of "value" are the ones you're concerned with as you walk
from room to room. You don't have to record every last item in your house;
it would probably take you years to accomplish that feat. What's
"chart-worthy," and what isn't, then? The most obvious priority items on
your list, of course, will be such possessions as jewelry; fine China,
crystal and tableware; heirlooms; artwork; and electronics. But your home
also contains a multitude of items - some of which nearly everyone
homeowner possesses regardless of his/her budget - which you probably wouldn't
remember to put on your list.
Those forgotten-yet-valuable items include:
Clothing (you don't have to own expensive clothing to
justify its inclusion, either);
Large appliances, including your refrigerator, washer/dryer,
dishwasher, and air conditioner;
All gardening/yard maintenance equipment, including your gas
grill, garden tools, lawnmower and weedeater;
All swimming pool cleaning equipment and accessories (if
applicable);
Kitchen appliances, including small appliances like your
blender, food processor, electric can opener and bread machine; as well as
your pots and pans and cleaning tools (broom, mop, vacuum cleaner, etc.);
Bathroom appliances, including hair dryers, electric
shavers, electric rollers and curling irons; as well as cosmetics and
various medications;
Bedroom accessories and bed linens;
Living room accessories, including your window treatments
and fireplace tools;
High-quality light fixtures throughout the house;
Automotive equipment;
Accessories and tools found in your garage, including your
tool box and its contents, paint and brushes, etc.;
Indoor and outdoor recreational equipment, including
exercise machines, bicycles, children's toys and games;
All electronics, including your camera(s), VCRs/DVD players,
stereos, telephones, computers, televisions, etc.;
Items stored in your attic, such as your holiday decorations
and suitcases; and
Miscellaneous items found throughout the house, including
fans.
Your first attempt at a home inventory probably won't be complete; you'll
undoubtedly remember additional items later that you need to add to your
lists, so leave yourself room to do so, and make plenty of extra copies of
your empty charts for that purpose. And speaking of copies, you'd be wise
to make a few photocopies of your completed charts for your records, and store
one complete set in a safe.
In an upcoming article, we'll discuss more ways to protect your possessions, particularly in the event of theft. |
