Making a list of all the contents of your home is a daunting task, no doubt about it. But it’s also a necessary one, especially if you have an insurance claim. Every homeowner and renter should have a contents inventory list of their possessions.
Why? To provide to insurers in the event it becomes necessary.
Here’s what a contents inventory list is and why you should make one as soon as possible.
What Is a Contents Inventory List?
A contents inventory list is simply a list of all the items in your home, condo, apartment or business. It’s sometimes called a home inventory list.
The items in your list can be categorized any way you like — by room, type of item, or even from most to least expensive. It’s not important how the list is broken down, just that you have one that contains the items, as well as:
- A brief description
- The model, make, or serial number (if applicable)
- The cost of the item at the time of purchase or an appraisal of its value
- Where you purchased the item
- When you purchased the item
- Any photos or receipts you have of the item
- Estimated replacement cost if purchased today
When Should You Make a Contents Inventory List?
There’s no time like the present. Even a simple, very basic list is better than nothing at all. Having a list can also help you to understand what type and how much insurance you need for your home, condo, apartment or business.
Remember, insurance policies have limits, and some things will not be covered. So, having an item on your list doesn’t mean you will get reimbursed for it if something were to happen to your property and your insurance kicked in.
Contents inventory lists are crucial to help cover potential losses you may face — particularly in terms of ensuring your insurance will cover your losses appropriately. If you ever need to file an insurance claim for a damaged, stolen, destroyed, or lost item, a detailed list will help to make the process of reimbursement far easier.
If you have questions about your insurance or your contents inventory list, reach out to the experienced professionals at Florida Professional Law Group.