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How Do I Create a
Home Inventory Checklist?
A home inventory checklist can be invaluable when
deciding how much insurance coverage fits your
life situation. The checklist makes sure you are
adequately protected should you need to file a claim.
The National Association of Insurance Commissioners
(NAIC) offers the following advice on how to create a
home inventory checklist.
• Group your possessions into logical categories,
i.e., by hobby, by room in your home, etc.
• Your list should include celebration purchases like
jewelry and art, as well as everyday leisure items
such as televisions and guitars.
• Don’t forget items you use rarely such as holiday
decorations, sports equipment, tools, etc.
• Pull together copies of original sales receipts and/
or appraisal documents. Also note model and serial
numbers.
• Carefully photograph or videotape each item and
document a brief description, including age,
purchase price and estimated current value.
• Store your home inventory and related documents
in a safe, easily accessible place online, on your
computer or in a fire-proof box or safe deposit box.
Consider sharing a copy with friends, relatives and
your insurance provider.
• The NAIC’s free myHOME Scr.APP.
book downloadable app lets you
quickly photograph and capture
descriptions of your possessions room
by room, then store electronically for
safekeeping. The app is available for
iphone® and Android devices. Click
here to watch the demonstration video.
If paper checklists are better for you, feel free to print
out the checklist from the NAIC on the last page.
What is Not Covered?
The coverage provided depends upon the type
of policy you buy, but there are some common
exclusions found in most homeowners policies. They
include but are not limited to earthquake (for which
coverage can typically be separately purchased);
collapse; flood; mold; fungus; wet rot; wear and tear;
mechanical breakdown; smog; rust; corrosion; dry
rot; smoke from agricultural smudging or industrial
operations; discharge, dispersal, seepage, migration,
release or escape of pollutants; settling, shrinking,
bulging or expansion, including resultant cracking of
bulkheads, pavements, patios, footings, foundations,
walls, floors, roofs, or ceilings; birds, rodents, or
insects nesting or infestation, or discharge or release
of waste products or secretions by any animals or
animals owned or kept by an insured. Be sure to
talk to your agent or insurance company about
exclusions.
What Should I Know Before I
Start to Shop?
You should know what coverage you need, as well as
the limits and deductible amounts that are right
for your situation. Also, you should have
the following information available:
Lender contacts and mortgage
documentation
Information on home improvements,
i.e., new roof, repairs, etc.
Home inventory, with photographs
Appraisal for any special items, such as jewelry,
furs, antiques, coins, guns, art, etc.
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Be sure to talk to your agent
or insurance company about
exclusions.
Be sure to talk to your agent
or insurance company about
exclusions.