So you have Homeowners Insurance, What’s Next?
You’ll need to create a home inventory list in Washington. Now that you’ve secured homeowners insurance to protect your property structure and possessions from theft, fire or an accident, you’ll want proof of your belongings. If you don’t have an itemized list of belongings you’d like replaced, you may be out of luck. Without a detailed list, insurance companies have the authority to replace it with a low-price model that can’t compare to what you’ve lost.
To avoid receiving the lowest amounts possible from your insurance carrier, you’ll want to make an itemized list of all the personal belongings that make your house a home. Specifically include what you’d like replaced along with proof of ownership.
Why Create a Home Inventory List in Washington?
1. Claims Process – A home inventory simplifies the claims process by providing proof of ownership and the value of your items.
3. Accurate Coverage – Ensures you have adequate coverage for all your belongings.
3. Peace of Mind – Knowing you have a detailed record of your possessions can reduce stress in the event of a loss.Steps to Complete When Creating your Home Inventory List
1. Take photos of your belongings. Start with your most valuable items, first.
2. Create an itemized list (excel, mobile app, word document, hand-written).
3. Include Color/Make/Model or Serial Number of each item.
4. Include date of purchase and estimated cost to replace if it was replaced today.
5. Include a photo of the receipt if possible.
6. Record a video – further proof of home value.
7. Expensive/priceless jewelry, art clothing: use an appraiser to estimate value.
8. Attach a home appraisal for proof of the value of the structure of your home.
9. Upload it to an online drive. Do not leave in your house. A fire could destroy it or burglars may find it to use as a treasure hunt in your home.
10. Create a back up copy in case something happens to it. Store both somewhere safe, but in unique places.
Steps After You’ve Completed Your Home Inventory List
1. Regularly Update Your Inventory – Add new items to the list as you acquire them. Each year, perform an a thorough review of your homeowners inventory list to ensure it is kept up-to-date.
2. Notify your Insurance Agent once it’s Complete – Ensure your insurance policy covers all your belongings and discuss high-value items that may need extra coverage. You can then provide a copy of your inventory to your insurance agent to keep on file for you in case of an accident, fire, or burglary.
3. Be Prepared for Claims – Ensure you are familiar with your insurance companies claims process and plan to access your home inventory quickly in case of an emergency. Try to submit your claim sooner than later, getting ahead of other customer payouts that may be needed.
About Associated Agents Group
At Associated Agents Group, we are your partner in coverage and advocate when you need it most. As an independent insurance agency, we can shop with over 30 different insurance companies to find the perfect match that fits your budget, needs, and concerns. During challenging times, we ensure your insurance company treats you fairly and accurately responds to your needs. Contact us today for a free homeowners insurance quote at 509-928-7528, fill out the contact form or learn more about homeowners insurance today.
