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Compile a home inventory now for your Colorado home insurance claims later

Category: Our Blog

It’s astonishing how many possessions you amass over the years.  If you need to make a Colorado homeowners insurance claim, it’s likely to be a lot easier if you’re prepared with an up-to-date inventory that lists your possessions and includes proof of possession and their value. 

Your inventory should include:

• a description of your belongings, including details of place of purchase and purchase price;
• serial numbers of electronic equipment and major appliances;
• purchase records such as credit card transactions and store receipts; and
• valuations or appraisals for items such as artwork, jewelry, antiques and collectibles.

A picture is worth a thousand words, so videos or photographs are a very useful way to supplement the inventory list; go through each room of your home and photograph its contents, including valuable items that are stored in drawers and cupboards.  

Don’t put off starting your inventory because you don’t have all the receipts from years ago – an incomplete inventory is much better than nothing at all!  Make it a habit to update the inventory each time you acquire a new possession, while the details are still fresh in your mind.  

In case your home is badly damaged or destroyed in a disastrous event, keep a copy of your inventory (and copies of the other backup documents like receipts and photos) in a secure place away from your home. If you ever need to make a claim on your Colorado home insurance, you’ll be glad you took the time to compile an inventory – without one, you may not be able to prove to the insurer that you owned the items you’re seeking reimbursement for, and that might result in a reduced payment.

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