Tuesday, October 09, 2007

Personal Property Inventory

An inventory lists your personal possessions and their value. Home inventories make it easier to substantiate your claim in case of fire, natural disaster or robbery. It also determines if you have the right type and amount of insurance.

You can record the list of your possessions in three ways:
**Notepad or binder with photographs
**Video Camera
**On the computer with a program like Quicken Home Inventory Manager

Living room and Home office- note when and where you purchased electronic equipment such as computer and televisions. Include receipts if you have them. If you lost the receipt look online for a similar model, print out the page and attach it to the inventory. The more documentation the better.

Kitchen - write down the make model and serial numbers of appliances, include dishes, flatware and stemware.

Bedrooms - take pictures of open closets and estimate how much you paid when items were purchased.

Attic and basement - don't forget to include other valuable possessions you don't use everyday.

Garage - include sports equipment, tools, bicycles, and lawn mowers.

Keep a copy of all information in a Safe Deposit Box.

Courtesy of Linda Gesicki - Personal Insurance Department