Creating a Home Inventory for Storm Insurance Claims: A Step-by-Step Guide

5/15/2024 (Permalink)

In this blog post, we will explore how to create a home inventory for storm insurance claims and provide a step-by-step guide to follow.

No one wants to think about the potential of a devastating storm emergency, but preparation is essential, and planning can make a significant difference in the aftermath of storm damage. In addition to having a storm damage plan in place, it's crucial to create a home inventory to ensure you are properly covered by your insurance policy. In this blog post, we will explore how to create a home inventory for storm insurance claims and provide a step-by-step guide to follow.

What is a Home Inventory?

A home inventory is a detailed record of all your possessions and their value. It includes information on the make, model, age, purchase price, and current value of each item to give you an accurate understanding of your belongings' worth. This inventory is essential for insurance purposes as it allows you to provide a comprehensive list of items if you need to file a storm damage claim and can assist your insurer in calculating your reimbursement.

Step-by-Step Guide to Creating a Home Inventory

Step 1: Choose a Method

There are several methods to create your home inventory, from old-fashioned pen and paper to modern smartphone apps. Choose the method that works best for you and ensures you can easily update it as needed.

Step 2: Go Room by Room

Start by taking inventory of one room and move on to the next. Identify and document all the possessions in the room, including furniture, appliances, electronics, and personal items.

Step 3: Record Details

For each item, record the make, model, serial number, purchase price, and date of purchase if possible. Additionally, take photographs or video footage of each item to provide visual documentation of the condition of the objects.

Step 4: Update Regularly

Ensure that you regularly update your inventory list whenever you make new purchases or get rid of existing items. Keep all receipts for significant purchases, as these can be used to verify the value of the item.

Step 5: Store Securely

Store your home inventory list and any corresponding documentation, such as receipts and photographs, in a secure location, either in a safe deposit box, cloud storage, or a fire-proof safe.

Understanding Storm Damage Claims

After a storm emergency, it's common to experience damage to your property and belongings. To receive compensation for the damage, you should file a storm damage claim with your insurance company. When you file a storm damage claim, the insurer assigns an adjuster to assess the damage and determine the appropriate compensation based on your policy.

It's essential to review your insurance policy and understand what is covered and the limits of the coverage before filing a claim. Some policies may have exclusions or limitations that you should be aware of. Also, keep in mind that deductibles vary and will impact the amount of your reimbursement.

After filing a claim, the adjuster will arrange for an inspection of the damage to your property and assess the value of the loss. They will then use the information you provided in your home inventory list to calculate the value of your belongings to determine the reimbursement amount.

In conclusion, creating a home inventory is a crucial component of any storm damage plan. By documenting your possessions and their values, you can ensure that you receive fair compensation from your insurance company in the event of storm damage. It's essential to regularly update your inventory and to store it securely. If you experience storm damage to your property, contact your insurance company immediately and provide them with your home inventory and documentation to expedite the claims process. At SERVPRO®, we are here to help with any storm damage cleanup and restoration needs.