Click the link below for a printable personal property inventory list.
Personal Property Inventory List
Click the link below for a printable household inventory form.
Household Inventory Form
A Record of Your Worth
Your homeowners insurance provides coverage for the contents of your home, up to a limit which you have selected with your policy. In the event of a total loss, you would be expected to provide a list of all of your personal property that was damaged, along with its estimated value.
If a loss occurred today, would you be able to compile such a list? Would you trust yourself to remember every item in your home, and the approximate value of each item?
If you’re like most people, it would be very difficult. That’s why we have developed this Household Inventory brochure. It’s a simple fill-in-the-blank worksheet that takes minutes to complete but could save you hours of frustration if you ever have a loss.
Determining the Value of Your Belongings
The standard homeowners policy is designed and priced to cover the Actual Cash Value of your Personal Property. This is considered the replacement cost less depreciation for age and use or condition. However, for extra protection, you may choose to have Replacement Cost Coverage on Contents added to your policy.
For an additional low cost, Replacement Cost Coverage provides for the repair, replacement of your personal property, regardless of the cost, depending on the coverage provided by your policy.
When entering the “Values” on your inventory, you should use either the Actual Cash Value or Replacement Cost, depending on the coverage provided by your policy.
If unsure whether you have Replacement Cost Coverage, check your policy, or give us a call. If you would like to add this coverage, we ask that you please contact our agency.
The Easy Way to Complete Your Inventory
First, use this form to list the items you own, along with what you consider their value (either Actual Cash Value or Replacement Cost Value, depending on your coverage). By grouping your belongings by the rooms in which they are located, you’ll b less likely to overlook an item.
Next, total the values for each room and enter the information under the appropriate headings on the inventory form. (Use a pencil)
When everything is listed, add up the values to arrive at a “grand total” figure. Then, check your homeowners policy with your insurance agent to make sure your present coverage is adequate to protect you in case of a major loss. If you “grand total” figure is greater than the coverage limit you currently have, you will need to increase your coverage.
A Picture is Worth a Thousand Words
Although it’s not required, we encourage you to take photos of some of the property you list in your household inventory. In particular, photos of higher valued and unusual items, such as antiques, are extremely helpful when it comes to settling a loss. The photos should be identified and stored along with your completed form. You might also consider videotaping these items and storing the tape with your Household Inventory form.
When You’ve Completed Your Inventory
Keep a copy around the house if you’d like, but make sure your original list is put in a safe place – either in your safe deposit box, or filed with your insurance agent. Do not store it on your premises!
Completing Your Household Inventory
* Jot down the items and their value in each room (including closets & storage area) * Itemize the contents of the spaces above * Total cash value contained in each room – or for each member of the family. * Enter the figures in the table below and total.Click the link below for a printable personal property inventory list.
Personal Property Inventory List
Click the link below for a printable household inventory form.
Household Inventory Form