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As I go along in life it seems I am responsible for more and more “stuff” some of it is the sacred and special memories, photos and family heirlooms which need to be passed down one day. Other things, are the investments I have made into decorations, furniture, and tools to make my house a home. It can be very hard for most people to remember all the little things when there is a total loss of everything.
It’s important to consider our worst case scenarios and remember that it can happen to us, because it happens to someone all the time. Planning for the worst can in some cases make it easier to recovery. Insurance is all about planning for the worst nightmares life offers. We don’t want to ever need–hate to pay for it–and are either happy or not when we do find ourselves in a situation of needing it.
It’s important to update your personal property inventory often, and to keep records of everything. I find that I tend to update things seasonally rather then only thinking about it once a year. I like to make my holiday decorations inventory during the holidays, and the same is true for the Stuff of the summertime. This week I am updating the following items for my Personal Property Inventory.
Outdoor Patio:
- ___ Furniture as I clean up my outdoor area I just make a little note of any new patio furniture as well as the condition of any “stuff” I have in this category.
- ___ Barbecue equipment and accessories. If it is some kind of fancy Gas Grill or other equipment of value make a note of serial numbers, maintenance records, and warranties information. Keep a digital photo record of any high-value equipment.
- ___ Exterior features, fountains, awnings, and landscape details.
- ___ New fencing or out buildings.
Summer Equipment:
- ___ Lawn maintenance equipment and tools. Record the make, model, and serial number of any lawn mowers or tractors. Keep warranty and instruction paperwork on file. Be sure to keep a digital photo of any high end equipment.
- ___ Check power tools and record the make, model, and serial numbers of any new power tools, yard tools or household equipment. (I always try to do this when I’m doing the garage cleaning.)
- ___ Recreation equipment such as coolers, camp gear and beach equipment. These things will be taken out of the house, it’s important to have a record of the “stuff” you take out on day trips, camp out’s, and vacations.
The important thing is to keep your Personal Property Inventory updated and copies outside of your house. The records we keep can and will make a big difference if or when there is an insured loss.
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Related Blogs:
- Household Inventory–Getting Started.
- Household Inventory–At Least Make A List.
- Is Your Personal Property Insured For Replacement Value?
- Insurance Appraisals
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