Home inventory claim tips

Filing a claim for personal property losses can be the result of a variety of disastrous situations. From theft to fire, there are a multitude of reasons why one may suffer a personal property loss that could constitute filing an insurance claim. Fortunately, regardless of the reasonings for filing, there are many proactive measures that one can take to save headaches down the road. When you file a personal property claim, you’ll be asked to take inventory of all of the items you’re filing for, and just the thought of doing so can be overwhelming to many, especially those who have lost everything. Here are some home inventory claim tips to keep in mind should you ever need to file a personal property claim.

Create an Inventory Spreadsheet

It can be difficult to find where to start when you need to take an inventory of your personal property, but before you begin, set yourself up for success. Plan and organize your method of attack by creating a simple spreadsheet for your items. Separate your spreadsheet into different groupings based on rooms in your house or by item type to further organize your list. Include the following in your spreadsheet:

• Item
  
• Brand or Model
  
• Serial # (if you have it)
  
• Cost of Item
  

Be sure to take pictures as well, and add a column where you can attach the photo of each item accordingly. This can be especially helpful for damaged goods that may get discarded. Don’t forget to use your friends and family to help you remember items that you may have forgotten.

Create a ‘Registry’ to Help Organize

When you’re tasked with estimating the costs of your items (that you may have purchased many years ago), it can be difficult to put a price on your goods. Hit up a local department store, and create a registry. Then, take your inventory list around to comparable items, and scan them to get the price. In this manner, your registry is actually an inventory list for your items that includes the cost of those items as well!

You can also create these registries on online shopping websites as well to cut down on the time that’s spent navigating a brick-and-mortar store. Plus, you’ll be more likely to find the exact items you had when you have the internet at your disposal as opposed to what’s in a store.

Consider a ‘Cash Out’ Settlement

Sometimes creating an inventory list is simply unmanageable, especially for those who are experiencing a total loss of their goods (such as can happen with fires, for instance). Instead, consider a ‘cash out’ settlement, or negotiate a settlement just below the claims maximum or contents policy limits in order to remove the need for a complete inventory list. You’ll need to consult with your insurance company if you want to negotiate this type of settlement.

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