September 17, 2006
Inventory: The Why And How
I know I’ve been focusing quite a bit on floods and storms of late. In the recent past, they were quite a bit of a reality and so you really cannot ignore them. That said, we’ll move onto other things. It’s not only floods and storms that can wreck a home. Fires and other natural disasters can also be quite dangerous and we need to be equally prepared for these as well.
According to the Insurance Information Institute (III), one way to prepare for such a possibility is to maintain a home inventory. An inventory can help you recognize the amount of homeowners insurance you'll need. It also can help you settle insurance claims faster after a disaster strikes and verify your disaster losses on income taxes. Nwtimes.com reports:
Since taking the inventory initially can appear as an overwhelming task, the III suggests that you organize the work. You might begin the process one room at a time, one category at a time (e.g. electronics first, furniture second, etc.) or from the newest or most expensive items on down.
Read more: Inventories help with homeowners insurance
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