#Home inventory categories serial

Taking inventories to the next level is easier with the help of apps that specifically track personal assets. Photos also work well to digitize paper documents such as auto titles, health and vaccine records, diplomas and authenticity certificates for original art, which may be on the backside of a canvas, leaving them vulnerable to damage.

#Home inventory categories serial

Smartphone cameras can zoom in on serial numbers, brand names, artist signatures and other identifying marks used to establish replacement values. Insurance companies prefer photos of specific items-and isolating one image from a video can be a tedious job. Videos are quick and comprehensive, but photos offer more detailed documentation. This quick and easy method is helpful for renters and homeowners alike, especially before moving to a new location.

Upload the videos to the cloud or online storage instead of on the phone to protect against damage or device loss.

Spend time working through every room-especially basements and garages, where gear like fishing rods, camping equipment and paddleboards reside. Open closet doors and cabinet drawers to document the contents. Videos take just a few minutes to make: simply pan the room, while recording a spoken description of important items. The simplest way to begin is to walk through every room with a smartphone, taking photos or videos. The home inventory serves as a backup for the claims listed on that year’s income tax form. Only the amount that was not reimbursed by an insurance policy is considered. When homes, vehicles or personal property have been damaged or destroyed, the losses may qualify as tax deductions. What about the items that are not totally covered by insurance? Home inventories can make a difference in these cases, too. With a current inventory in hand, homeowners can talk with their insurance agent to fit their coverage to their needs, in case of a major loss. Unique artwork or jewelry may need an appraisal by an independent expert who can set the true value for insurance. Growing families add sports gear, electronics and personal items that all add up recent trends in home gyms and offices can involve expensive new equipment and furniture to consider. A differential between what a person owns and what their insurance covers often happens over time. The process of creating a home inventory can highlight gaps in insurance coverage. However, an inventory is useful before any disaster even happens, to know whether you’ve got the right coverage,” he said. That process goes much more smoothly with documentation. “The primary use is to expedite insurance claims, of course. Whether a homeowner goes about the process by way of a photo collection, a video or a written list, home inventories serve multiple purposes, explained Jim Ignozzitto, Vice President, Insurance at AAA Oregon/Idaho. Three Ways Home Inventories Make a Difference While it may seem like a chore that most of us are all too willing to postpone, taking the time now to assess and document possessions can bring the peace of mind of knowing that you are prepared and resilient in case the unexpected happens. Imagine the ordeal of trying to recreate your possessions from memory, room by room: clothing, furniture, kitchenware, linens, tools, bikes and skis…it would be a daunting challenge. Maybe we’re waiting to really organize our closets and cupboards, or finally have that garage sale we’ve been talking about for years.īut should disaster strike, insurance companies require documentation for each item lost, along with its brand, age, and value, before they can reimburse the insured. We can all find excuses to put off the task of going through our belongings and documenting what we own for insurance purposes. There is no time like the present to create a home inventory strategy.