Having an Inventory Checklist Can Help Homeowners Avoid a Headache

Indianapolis, IN - Dec. 8, 2016 - When it comes to preparing for a disaster, most people have forgotten one very important thing. Research shows that more than half of American consumers don't have an inventory of the possessions they'd want their insurance company to replace in case of a fire, theft, or other disaster.

"In the aftermath of a fire or other damage to our property, it's like that many of us would be emotionally drained and the last thing we would want to do is make a list of everything we lost," said Greg Seiter, public affairs manager for AAA Hoosier Motor Club. "Preparing in advance for an unexpected disaster could mean a faster return to normal life, and a little less stress along the way, including a more speedy claims process."

Home Inventory Creation - 5 Easy Steps

1. Grab your camera or smartphone and take a tour of your home.
2. Record everything you'd want your insurance company to replace. Don't forget all the stuff in your closets and garage.
3. Pull together copies of sales receipts and any other documentation. Also note model and serial numbers.
4. Store your home inventory and related documents in a safe and easily accessible place, including online, with friends or family, or in a safe deposit box. Don't rely solely on your home computer, which should always be backed up, in case of fire or a hard drive crash.
5. Add up the replacement costs for all of those items to make sure you have enough insurance. Double check, because not all policies cover the actual replacement costs. Also, in some cases, an additional endorsement may be needed for valuables like jewelry, cameras, furs, firearms, trading cards and comics, or other items. The availability of endorsements varies from state to state, however, so find out which endorsements are available in your area.

Creating a simple home inventory helps you track what you own and what it's worth. It can be invaluable in deciding how much insurance coverage you need, to say nothing of ensuring you are adequately protected if you ever need to file a claim.

To find out more about homeowners, condo or renters insurance, contact your AAA agent, your local AAA office or visit AAA online.

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