![]() Consider giving your insurance agent a copy. ![]() Store your home inventory and related documents in a safe, easily accessible place such as a secured site online, at a family member’s home, or in a safe-deposit box at the bank.Don’t forget to open drawers and closets to document what’s inside.Carefully photograph or videotape each item and document it with a brief description, including age, purchase price and estimated current value.Group your possessions into logical categories, such as by hobby or by room of your home.Be sure to note model and serial numbers of items where applicable. Attach copies of original sale receipts and/or appraisal documents to your inventory.Don’t forget other items that you might use only occasionally, such as holiday decorations, sporting goods, tools and high-ticket items in your yard, like as landscaping or recreational features such as a gazebo or a playground set. Take note of commonplace items, such as toys, CDs and clothing.Also, consider items related to everyday leisure time, from flat-screen TVs to firearms. Think about family heirlooms, collections and furniture.Make a list of possessions, including “celebration” purchases such as jewelry.Even if you don’t have an iPhone or don’t care to use the NAIC’s new app, you can still make it easier on yourself by grabbing a notebook and following these 10 simple steps from the Oklahoma Insurance Department and NAIC. If you don’t have an inventory of your personal property, take time to make one. However, research suggests that almost half of all Americans don’t have that sort of inventory of their possessions. Taking InventoryĪ home inventory assures you know exactly what you own and what it is worth before you ever need to make a claim. The app organizes your possessions room by room, and even creates a backup file for e-mail sharing. Called myHome, the took lets users capture and store images, descriptions, bar codes and serial numbers of their valuables, then stores them electronically for safekeeping. One of the best ways to make sure your personal property is fully protected is to document each item in a home inventory, and the National Association of Insurance Commissioners is making the inventory process easier thanks to a new iPhone application. But might your possessions be worth a lot more than that? Recent data from American Express, for instance, suggests that “fashionistas” spend more than $1,400 per year on shoes, apparel and accessories while “techies” spend some $1,300 annually on computers, video games and televisions. ![]() The average claim payment for damage to or loss of home contents in Oklahoma was $3,262 in 2010. But when determining your coverage needs, it is crucial to understand that your personal property deserves protection, too, and an up-to-date home inventory is a vital part of this process. When choosing a homeowners’ insurance policy, most consumers probably think about the cost to replace their house and not the value of all the items inside.
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