If you ever needed a reminder to create (or update) your home inventory, the onset of hurricane season in Louisiana is certainly one of them. Creating a home inventory today is one of the smartest things you can do to make future property insurance claims much easier.
What is a Home Inventory?
A home inventory is not complicated and it doesn’t have to be formatted beautifully. A simple spreadsheet will do. A home inventory is simply a list of your personal possessions spelled out along with their corresponding financial value. Photos and videos should also be included in your inventory, as should saving receipts and other documentation.
Home inventories are important for many reasons, but when it comes to the insurance claims process, having a detailed home inventory can greatly expedite the insurance claims process and offer the proof of loss you need when filing a claim. Because your inventory serves as concrete evidence of what you owned, there are generally fewer disputes when it comes to compensation questions.
Where to Start When Creating Your Home Inventory
Creating a home inventory can be overwhelming, so it helps to be methodical about the process. Many people find it easiest to go from room to room taking pictures and documenting specific items of value. Don’t forget outdoor items as well. It’s also advisable to include model and serial numbers for your records.
If a spreadsheet isn’t working for you, there are several home inventory apps you could consider using, including one from the National Association of Insurance Commissioners.
It’s a best practice to update your home inventory annually or whenever you make a new purchase or home improvement. Just like other important documents, save your inventory in the cloud or offsite away from your home.
A home inventory is not just a nice-to-have — it’s a must-have for every homeowner, especially those of us at risk of hurricane damage. It provides peace of mind, simplifies insurance claims and ensures accurate valuation of your belongings.
To learn more about the insurance claims process in Louisiana, contact our team at Kandell, Kandell & Petrie. We have more than 50 years of combined legal expertise and are here to ensure you receive the relief you deserve for your insurance claim in New Orleans and throughout the state of Louisiana.
