Example: 14 pairs of jeans, 30 pairs of shoes, etc. If you want to take it a step further, you can write down when you purchased each item and take notes of the model and make including how much you paid for it at that time. You can estimate the approximate value later, you only need the names of the items. How many couches and tables do you own? How many electronics are in the living room? Are there any art pieces hanging? Write all that down. Start with an easy spot such as the living room or the kitchen. All you have to do is write down all the items you own by walking around your house. The insurance company uses a home inventory list to pay you, and if you miss one of those items you might miss compensation because it’s difficult to remember everything that was damaged or stolen. If they identify you lack sufficient coverage for a certain item, you can upgrade your policy to get full coverage. You can make a list of everything you own really fast and show it to your home insurer to get the assurance you’ll get the coverage in case the items are stolen or damaged in your home. Do you own a $2,000 e-bike, a $1,000 iPhone, a $5,000 wedding ring and a $700 flat screen? Write all of that down. The inventory list helps you keep track of how much the insurance company owes you. However, it’s easier to estimate the damage caused if you kept an inventory in the first place. Make no mistake, it’s still possible to file a claim without a home inventory list. However, if you have valuable items you could increase the coverage on your personal belongings. This coverage should be enough to replace your clothes and electronics. Typically homeowners get coverage in the $30,000-50,000 range for personal property. This extends to renters insurance as well. Your home insurance policy doesn’t only cover the structural damage to the home but your personal belongings too. If one of them got stolen or burnt down in a house fire, you could file a claim to get them replaced. Take a look around your house: the laptop, TV screen, furniture, clothes, jewelry.
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