Documenting your personal property via a home inventory is the best way to keep track of what you own and its value. A home inventory can serve many purposes to include the following:
Documentation of Personal Effects
A home inventory is a great way of keeping track of your personal effects and their value. In addition to making a list of your goods, you should photograph expensive items such as heirlooms, costly paintings, and antiques, posh jewelry, furs, electronic equipment, etc. to document their value. Keep all receipts from the purchase of expensive goods as well as any documentation proving an item’s historical or cultural value. Your inventory should include a detailed description of personal effects that are important to you. In the event of theft, damage or loss, you will have a written account of your goods and a good idea of their intrinsic value.
A home inventory can be extremely useful in estate planning as it provides you with an up to date current of your personal assets. You can use this inventory when making decisions on what items to bequeath to family or friends upon your demise or what to donate to a good cause. A home inventory can help streamline the estate planning process.
A home inventory can help simplify an insurance claim in the event of damage or loss of valuable goods due to fire, theft, flood, etc. Providing written (and photo) documentation of lost goods and their value to your Martin Insurance Team agent in Evergreen Park, IL will help facilitate your claim and enable you to receive a fair settlement.
Learn more about how a home inventory can aid in making an insurance claim by talking to a Martin Insurance Team representative in Evergreen Park, IL today.