Keeping a home inventory has always been a good idea for insurance purposes, but now technology is making it easier than ever.
If you are the owner of an iPad or iPhone, you may want to check out the free Know Your Stuff App from the Insurance Information Institute (III). If you do not own either of these devices, there is also an online web-based version at the Know Your Stuff website, a free tool to help you keep an up to date list of your home inventory.
The application allows you to set up your belongings by room, making lists of everything you own so you have a good replacement record in the event of a loss or a disaster. Furthermore, you can upload photographs of your belongings, scanned receipts or appraisal forms, and generate several types of reports in case you need to file a claim. All of this information is web-based, very handy to access from anywhere in case you need to evacuate your home in a hurry. This way your home inventory is always secure and easily accessible when you need it most.
In addition to simplifying the process of filing a claim, keeping a home inventory will also help to ensure that you purchase the right amount of insurance. III says, “Having an accurate list of your possessions allows you to have a more productive conversation with your insurance agent or company representative when making decisions about homeowners or renters insurance coverage.”
For comparative purposes, you might also check out the Home Inventory app from the National Association of Insurance Commissioners. It’s called myHOME Scr.APP.book and it’s available for both iPhones and Android devices.