The process of taking a home inventory is priceless.
In the aftermath of having physical damage to your home such as a fire or if you are the victim of a burglary.
The date you purchased your lamp and the price you paid for it will probably be the last thing on your mind, but when you file a claim it will be the first thing on the insurance companies mind.
Taking an inventory of your home consists of taking pictures or video of all of your personal belongings that are valued at $50 and greater.
Along with the pictures you should write down all of the items and list the date purchased and price or value of the item.
Once your list is completed put the pictures and the list in a safe place.
I don't suggest saving this information on a computer because if your home is burglarized the thieves will probably steal the computer and your inventory list will be useless.
I generally suggest that you give your inventory list to a friend or close relative that doesn't live in your home.
If you don't have any relatives or friends that you trust with this valuable list, it's a good idea to let your insurance agent hold onto it.
A home inventory may take you 30 minutes to complete, but it will save you hours of headaches if you were to have damage to your property and have to file a claim.
Accidents are a part of life but recovering from these accidents can be made a little easier by preparing a home inventory.