Most people who have purchased homeowners or renters insurance policies are aware that they should keep an inventory of all their personal belongings in the event they have a claimable insurance loss occur such as a theft or fire, but few people actually take the time to make an inventory. Technology has finally caught up with the process of documenting your belongings in the form of smart phone apps.
Several apps are now available that allow you to use your phone to easily make a detailed inventory of your belongings that includes pictures and organizes them by category and room.
Keeping an inventory of your belongings can help you settle the reimbursement amount for your claim very quickly with your insurer , especially if many items were damaged or stolen in the loss. An inventory can provide the brand, year and model of the items you own from appliances to clothing. Having this information not only proves all the items you own but, also helps to determine their value so you are fully compensated at the time of your loss.
While there are many free and paid home inventory apps available, I like the Liberty Mutual Home Gallery app, it is simple and easy to use.
-Once you have created the home inventory on your phone send it to your personal email account for safekeeping.
-Update your home inventory annually and when you make a major purchase.
-Be sure to keep the receipts of valuable items, if possible take pictures of the receipts.
-For older valuable items, get signed appraisals.
-Be sure to record the serial numbers of power tools, electronics, bicycles and collectibles. Having the serial numbers on file can help police get these items back to you if they are stolen.