Where else besides 'home' should you have an inventory?

Yesterday's post discussed home inventory and how few people (9% of our readers) have this information documented, though most know how important it is. The main reason people give for not compiling their asset report and supporting photographs is time - or lack of it.

Surprisingly, though, they reported on our survey that a higher percentage of inventories are documented at other locations.

VACATION HOMES
71% have an inventory of their assets in their vacation homes. This might be due to the fact that they are also rental properties and the opportunity for damage or theft is higher.

STORAGE BUILDINGS
The same number – 71% - have documentation of the items placed in storage. The easiest way to record these items is when you’re loading them into the unit. If you already have belongings stored, it’s worth the effort to pull them out and record them.

BUSINESSES
Unexpectedly, only 34% of business owners responded that they have an asset inventory of their businesses personal property. Insurance adjusters state that if you have an inventory, you can anticipate you’ll file your initial claim within 48 hours. Without this information previously recorded, the initial claim normally takes at least 4 months to submit. If you don’t have the funds to replace your desks, computers, chairs, equipment, etc., will you be able to remain in business? Will your customers and/or employees wait that long for you?

Take the time to document all your personal property in your home, storage unit(s), vacation home and business. If you can’t or choose not to compile the information yourself, contact a home inventory service provider for an efficient, cost effective process that will bring you peace of mind and a maximized claim.