Have you ever thought about what would happen if you lost everything in your home? A few years back, a friend experienced a devastating electrical fire that destroyed their home and all their belongings. Everything was lost, from furniture and china to electronics and family photos.
Would any of us be able to recall everything we had in our homes if we were in a similar situation? Chances are, the answer is no. But thankfully, creating a home inventory has never been easier. Here is a simple plan you can follow to create a comprehensive inventory of your possessions using just your smartphone:
Create an album called “Home Inventory” in your phone’s photo app.
Within the “Home Inventory” album, make subfolders for each room (i.e., living room, dining room, guest bedroom, etc.) to make it easier to find specific items, or you can continue with all photos under a single album.
One room at a time, take a photo of each of your items or a video that slowly covers all objects in each room. Be sure to record the articles in all drawers and cabinets. If using video, vocally comment about the value of certain items. Move the photos/videos into the corresponding album.
Take photos of receipts to provide evidence of the cost of expensive items.
Make sure these albums are backed up to iCloud instead of storing them directly on your device alone.
Update as you make new purchases.
You may have to dedicate several hours to the project to ensure you have a complete inventory of your possessions. Consider breaking it up into a few rooms at a time but continue until your home inventory is complete. The result will be peace of mind, knowing you have an accurate record of your belongings in case of a tragedy like my friends experienced. Having the complete inventory can save you thousands of dollars by allowing you to claim all you have lost.
There are also companies, such as PICS, LLC, that offer a service to inventory your belongings for a modest fee. PICS, LLC owner, Mitch Carbonie’s tagline is “Secure what you insure.” He reiterates that for most, “having the correct amount of insurance is still not enough to be properly compensated for a loss.” If you do not want to complete the inventory independently, you can ask your property and casualty representative for recommendations of companies in your area that offer this service.
No matter what method you use, it is important to complete a home inventory to protect yourself from potential loss. Putting in the time and effort to record your belongings today could save you thousands of dollars in the future.
Don’t miss The Welch Group’s Money Tuesday segment every Tuesday morning on WBRC Fox 6 for valuable weekly insights.
