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Inventory “your stuff”
Losing a home in a disaster is one of the most devastating experiences a person can have. So in addition to buying enough insurance and taking steps to make your home more damage-resistant, there is one simple thing you can do to protect yourself and your family: Create a home inventory. Why?
Because United Policyholders has seen time and time again in our 20 years of working with disaster victims that preparing an inventory after a total loss for insurance or taxes is often the most painful and time-consuming part of recovery. And, especially after a traumatic loss, it’s impossible to remember everything you had, so most people never collect their full insurance benefits.
Our easy-to-use UP Home Inventory will help you list the contents of every room in your house. We created our inventory tool from the most comprehensive lists that past disaster survivors created and used to get paid in full on their insurance claims. Benefit from lessons that others learned the hard way.
UP Home Inventory Worksheets (Excel) - Complete and save on the computer.
There are two ways to fill out the UP Home Inventory. You can fill in the contents of the spreadsheet on your computer and save it on this flash drive, or you can print out the individual sheets and complete it by hand. Either way, you will be making the right start toward disaster preparedness and “Insurance Assurance”.
The UP Home Inventory includes common items that are found in most homes, but you can add any additional items or change the items listed to personalize your inventory. Remember that insurance fraud is a felony, so be sure to include only items you actually own. While we encourage you to complete every column, if you only have limited time, complete the description, quantity and age of each item, and add cost information in later. .
Don’t worry about filling in the “% value” column unless you are using the inventory to file an actual insurance claim. This column describes the current value of the item. It is helpful to know if your insurance policy pays Actual Cash Value (ACV) or Replacement Cost (RC) for personal property items. Most policies these days are RC and are supposed to cover the cost of replacing an item (present day value), but if you have an ACV on contents policy, you will need to estimate current values.
We also offer an example of a personal property inventory that was created by UP volunteer Julie Robinson whose home was destroyed in a 2003 wildfire in San Diego. You can find this example in Sample Claim and Proof of Loss Forms.
- Use your UP Home Inventory flash drive to store scanned copies of important documents. If you don’t have equipment to do this, email email@example.com to find out if UP will be offering an “Insurance Assurance: Does Your Safety Net Have Holes?” workshop in your area. At these workshops, a UP representative will help scan your insurance documents onto the flash drive. For more information or to schedule a workshop in your community, email firstname.lastname@example.org or call (415) 393-9990.
- Update your inventory over time. Add new items as you acquire new items, remove items you no longer have. Scan and add upload receipts.
- Photograph the inside and outside of your home and upload the images onto this flash drive.
- Store your inventory in a secure place away from your home, such as your office, or a safe deposit box. Or, email your inventory to a trusted friend and ask them to save it for you. This way, if you ever need the information for insurance or tax purposes, it will be easy to access.
Lastly, remember that doing at least something to prepare is always better than doing nothing at all.
Additional steps you take to prepare for a disaster will help stretch your insurance coverage
Protecting yourself, your family, your home, business, income and property by buying insurance makes economic sense. Use our buying tips to benefit from lessons learned by disaster victims on where they came up short and what they wish they’d known about insurance before they had a loss.
If you’re going to spend money buying insurance, spend time buying the right coverage from a reputable company, and do what you can to reduce the likelihood of damage. Most insurers will reduce your premium if you make your property more resistant to damage. UP believes insurers should offer bigger discounts so people can afford to make their property more damage resistant. When you’re comparison shopping for insurance, find out which company offers the biggest discounts for “mitigation” and/or “retrofitting”, and;
- Clear brush from around your home
- Clean out gutters and roof drains regularly
- Invest in fire resistant building materials
- If you live in earthquake zones, read this Homeowner’s Guide to Earthquake Safety (pdf)
- Alarm and sprinkler systems generally get you a premium discount
And, make sure to keep emergency supplies on hand in a location that will be accessible to you in the event of a disaster. Consider buying a kit such as the one sold by Your Safety Place: When you buy a kit from Your Safety Place, enter promo code: UPH20 and receive 20% off your purchase.
• For additional information on Apps for Taking Home Inventory read this article in the New York Times.
• Here’s a link to the Red Cross basic earthquake preparedness information.