A home inventory is a written or digital account of your personal effects along with documentation of their value. Inventorying your personal effects enables you to keep better track of your goods and keeps you up to date on your financial assets. Here are a few ways in which a home inventory can be to your benefit.
If you’re like most people, you probably own quite a bit of material goods, making it difficult to remember them all. A home inventory helps you organize these goods digitally or on paper, so you will have an accurate account of your personal effects. Your inventory should include a list of your belongings, a brief description of each, date and place of purchase, receipts (if you have them) and photos that verify their condition and value. If anything should happen to your property, you can use this document to verify ownership and recuperate items that are lost or stolen.
A home inventory can be extremely helpful in estate planning. Rather than go through every item in person, you can refer to your inventory when deciding what items to bequeath to family and friends and what items to donate after you’re gone. A well-organized inventory puts important information concerning personal assets at your fingertips when you need it most.
Home inventories can help simplify insurance claims. In the event of theft, damage or loss of personal goods from your home, you can present your inventory to an adjuster from Wellspring Insurance Network Inc. in Rockville, MD to verify your loss. Having your valuables documented for proof of ownership and value makes it easy to file your claim and recuperate your losses.
For more information on how to make and use a home inventory, contact us at Wellspring Insurance Network Inc. in Rockville, MD.