It’s that time of year; love is in the air! While some of us may receive a card with thoughtful sentiments or a gift of delicious chocolates, others may receive something a little sweeter. If you do receive a piece of jewelry, a new technology device, or even a flat screen TV from your Valentine, you’ll want to be sure the item is properly insured in the event something unfortunate happens. One of the best ways to protect the things you love is by performing a home inventory. By documenting all of your valuable possessions, your homeowner insurance policy can help pay for items in the event of a loss, such as theft or a fire.
Here are our tips on how to perform a complete home inventory of your important belongings:
1. Document Your Valuables
To complete a full home inventory, walk through every room in your home and identify all of its contents. Creating a record of everything you own is the first step of your home inventory. Use our checklist to assist you in documenting all of your valuables. For everything in the inventory, you’ll want to include the following information for each item, if available:
2. Take Photographs of Your Possessions
By taking photographs or videos of all of your possessions, you’ll have visual proof of the items you own.
3. Place the Checklist & Photos in a Safe Place
After completing your home inventory, place the information (if printed) in a fireproof safe or, if you have one, a safety deposit box at your bank. If your record is digital, store it on your computer or phone so that it can be accessed without connecting to the internet, and back it up in the cloud. This record will be invaluable should the need for details arise.
4. Update Your Homeowners Insurance Policy
Please contact Eastern Insurance with any updates to your inventory so we may assist you in determining if your items are properly covered. Your coverage should equal the cost of your valuables at current prices. Additionally, some items, such as expensive jewelry, may require additional insurance coverage to be properly insured. Reviewing your inventory with a member of the Eastern Insurance Customer Service Team will help make sure you have appropriate insurance coverage..
5. Update Your Checklist Periodically
As you redesign or update your home over the years and purchase additional items, update your list to reflect the full value of your home. In addition, items such as jewelry, furs, and fine arts should be appraised on a regular basis or every three years. Please let us know if any items increase or decrease in value to ensure that you are properly protected.
Once you have completed your home inventory with our checklist, contact us so we may review your homeowner’s insurance needs. Give us a call at (800) 333-7234 or contact us on our website.