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Every time that I issue a house insurance policy I tell my client it is in their best interest to create a home inventory. House insurance claims don’t happen often but when they do they can be quite chaotic. When you have a traumatic event like a fire or robbery occur, it is difficult to sit down and think of what you’ve lost and what you will need to order to make everything right. This is why you need to have an up-to-date list of everything in your home.
If you have never created a home inventory list don’t worry, we’re going to teach you how to compile a home inventory.
How To Compile A Home Inventory
Creating a Google Drive Account
Up until recently one would need to get a safe of safety deposit box to store their home inventory, that is until the wonder’s of cloud computing. Google Drive is a free service that gives users 5 Gigabytes of hard drive space absolutely FREE! Unlike your laptop of PC hard drive, your Google Drive is maintained and stored by Google, so there is no worry of loosing your uploaded files if your computer crashes or gets stolen.
Your Google Drive will work as a safe for your home inventory.
Organize Your Google Drive
Before you start taking pictures and notes you’re going to want to organize your Google Drive into separate files. To help keep everything organized created a different folder for each room. Example
Start taking Pictures
To save time I recommend purchasing a decent sized memory card (16 Gig+) for your digital camera. Once you have your digital camera set up start systematically going through each room of the house and take pictures of;
-Every item in each room
-The serial number of item.
Create a separate list of your belongs as you photograph each room. Be sure to include an notes of where you acquired each item and what its original purchase price was.
House insurance policies place limits of each item in your home and it is you’re responsibility to purchase Personal Article Floaters on higher value items. If you have higher valued items like jewellery, sports memorabilia or artwork, have it appraised and purchase a P.A.F.
One you have finished taking pictures and notes of everything in your house, it is time to upload everything to Google Drive. This is going to be the most time consuming step of the entire project, but without it you’re in for a lot of frustration in the event of a major claim.
-Don’t try to rush things. Creating an organized home inventory list will take hours to do.
-Stay organized. Make sure you completely finish a room before moving onto the next room.
-Don’t procrastinate! Nobody every schedules an insurance claim.