The Benefits of Creating a Home Inventory

If you live in and around Centennial, CO, the insurance specialists at Compass Insurance offer the following guidance regarding the importance of creating a comprehensive home inventory. Conceptually, this advice provides a simple yet effective way to protect your investments should an unfortunate event (i.e., fire, theft, fire, hurricane, etc.) occur that causes damage.

The Value of Creating a Home Inventory

A home inventory can be created simply by a written list, a photo catalog, or even a digital app designed for this purpose. It is not a complicated process as all it requires is that you systematically evaluate your personal belongings and note important details that include:

  • Item description
  • Purchase price
  • Model number/serial number
  • Receipts

Store the inventory safely, preferably with a trusted friend, a family member, or a cloud-based storage service. Be sure to update the list routinely because it is only as useful as it is accurate. In addition to smoothing out the claims process, creating a home inventory offers these benefits:

It Offers Firm Proof of Ownership

Without a proper inventory, collecting a claim without proof can be challenging.

It Offers an Accurate Valuation

With an accurate estimate of value, you will know how much insurance coverage you need.

It Helps Maximize Compensation

With a detailed and up-to-date inventory, you will be less likely to overlook or forget to include an asset in a claim after you sustain a loss by a covered event.

It Reduces Stress After an Unexpected, Stressful Event

A home inventory prepares you for complex or challenging life moments.  

Contact a Leading Insurance Company

For additional information about home insurance by Compass Insurance, contact our licensed professionals at 303-996-9000 or online