Documenting Your Belongings
For expensive items, keep any receipts and record any serial or model numbers. Taking a photo of each receipt and serial number, and then uploading the photos provides evidence.
Documenting belongings can make a potential personal property insurance claim process much easier. Maintaining a current inventory of your belongings can prove helpful should you ever have to file a personal property claim. Here’s an easy way to document personal belongings for insurance purposes:
- Take room pictures.
- Open closets, cabinets and drawers, describing what you see.
- Capture brand names and serial numbers, so your insurer can replace items.
- Focus on what’s valuable. You can skip cleaning supplies. An insurance adjuster will likely create a ‘bulk estimate’ for those things.
Maintaining Inventory Lists
Having to recall items lost due to fire or theft is stressful and leaves a margin for error. Your inventory list is proof of your loss and key in securing the highest insurance payout. Keep your inventory list safe and accessible. Don’t store it in your house, in case your home is destroyed.
The best way to create an inventory is online – on a cloud server or using an app. That guarantees you’ll have the evidence needed. Organize belongings by room or category. It’s the easiest way to avoid missing things. Once you have an inventory, you can use it to file claims faster.
Maximizing Insurance Payouts
- Document personal belongings by taking room pictures and noting brand names and serial numbers. Keep receipts and record serial or model numbers for expensive items.
- Store your inventory list securely and accessibly outside your home; it is essential for claiming the highest possible payout.
- Use a cloud server or app to create your inventory, and organize belongings categorically to minimize the risk of missing moved items.
- Be aware that insurance providers may only offer 50-70% of your home’s value; a comprehensive inventory supports your case for a maximum payout.