What you stand to lose

If you don't have an inventory and have a theft, fire or natural disaster, what do you stand to lose?

Mary Bonelli of the Ohio Insurance Institute states that 58% of American homes were under-insured by an average of 21% in a recent study. That means you'd lose 20% of your home's current value.

So what does the value of your home have to do with the contents? Where does an inventory come into the picture? Personal property coverage is assigned a percentage of the value of your home. If you're one of the 58% who are underinsured, that could mean your contents are underinsured by 20% also.

An inventory will help you know how much your belongings are worth so you can be properly insured. And that same inventory will help you remember and prove what you owned when it's time to file a claim.