Here's a test: Think about all the stuff you have at home. Now write it all down. Every. Single. Item. Impossible, right?  Or, if you had a house fire would you be able to accurately account for all of your belongings?  More than likely the answer to that question is "No" as well. 

Creating and updating an inventory of your personal possessions is one of the best ways to make the most of your homeowners or renters insurance, and makes filing a claim easier and more efficient.

A home inventory is simply a list of your personal possessions along with their estimated financial value. You can create such an inventory in a simple, low tech manner by writing down everything in a notebook and keeping receipts in a folder. Or you can take advantage of technology and use a digital camera or smart phone to take pictures and/or videotape your belongings in order to have a visual record. The I.I.I. also has free home inventory software to make the process easy and efficient. Know Your Stuff® – Home Inventory, is a free mobile app—available in the iTunes store or on Google Play—and Web-based software that enables you to record your inventory and store it securely online, giving you access to it anywhere, anytime.

No matter how you choose to do it, the important thing is to take action: create a home inventory and update it when you make major purchases. An up-to-date home inventory will:

1.Help you purchase the right amount and type of insurance. Having an accurate list of all your possessions allows you to have a more productive conversation with your insurance agent or company representative when making decisions about homeowners or renters insurance coverage. After all, if you don’t know what you have, how can you insure it adequately?
2.Make filing a claim as simple as possible. Most people cannot remember what they had for breakfast much less  recall the contents of their attic, kitchen cabinets or downstairs closet after a fire, storm or other catastrophe. Disasters are scary and stressful, which can make trying to list damaged property for a claims form even more challenging.
3.Substantiate financial losses for tax purposes or when applying for financial assistance. Following a catastrophe, the only way to determine whether you may qualify for a tax break or disaster assistance is to substantiate your financial losses. A well organized home inventory can be an extremely useful tool in this process.

With technology these days there are websites and/or apps for your phone that can be of use.  One website offering free storage is:
https://www.knowyourstuff.org/iii/login.html

You can also search your phones app store for one compatible with your mobile device.

For more information or questions don't ever hesitate to contact us directly.  877-277-9036 or email us.

Source: iii.org    

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