As we continue to spend more time at home, now is a great time to put together a home inventory list. A home inventory list will help in determining the value of your personal property to ensure you are properly covered.
Items to include:
• Appliances
• Furniture
• Valuables
• Collectibles
• Electronics
What should the list contain?
The list should contain details such as description, appraisals or cost at the time of purchase, receipts or photos, date and location of purchase, make, model and serial number (if available).
How to create an inventory list:
• Take a video – go room by room and open drawers and closets
• Use mobile apps for home inventory
• Create a spreadsheet and take photos
A word about personal article insurance floaters
If you lose your ring in the lake, is it covered on your homeowner’s insurance policy?
Your home policy may protect your valuables up to a certain amount, but if you have expensive jewelry, fine arts, collectibles, etc., a Personal Articles Floater (PAF) may be a good idea. A PAF is an endorsement on your homeowner’s policy that will provide extra coverage to your scheduled items in the event of theft, damage or loss to your valuables.
Items that may be considered valuables include:
• Jewelry
• Watches
• Cameras
• Fine Arts
• Musical Instruments
• Golf Equipment
• Electronic Equipment
• Firearms
Source: HomeServices Insurance