The Importance of a Home Inventory
"So, how much is your personal property worth?" (We in the insurance business often get a blank look from the couple across the desk). Putting a monetary value on all of the "stuff" one accumulates over the years is definitely a challenge. How much would it cost to replace all of the clothes, kitchenware, electronics, furniture and everything that is jammed in every closet, your attic, basement and every other nook and cranny in a home? It's a daunting task, especially for people who have lived in a home for many years, have had kids come and go, and tend to lose track of what they own.
One suggestion that we at Menath Insurance recommend is either video tapping or taking pictures of the contents of your home, and keeping it in a fireproof safe or other location. Often, if there is a catastrophic loss, we forget everything that we had during the tramatic time that follows.
The attached article from the Insurance Information Institute outlines a simple way of determining your valuable personal property.
