Creating a home inventory offers the best protection

Do you know if you have enough homeowner’s insurance coverage for everything in your home? If you had to file a claim for a total loss could you list the value of every one of your destroyed possessions? The investments that you make in your personal hobbies and homes can have a great influence on your insurance needs. The Division of Insurance recommends that you create a home inventory to help you decide on the type and amount of home insurance you need and to expedite the claims process in the event of a loss.

The National Association of Insurance Commissioners (NAIC) offers free resources to help homeowners and renters create their inventory. A home inventory checklist can help you get started.

You can also download the free NAIC myHOME Scr.APP.book app for iPhone and Android here. The apps guide you through capturing images, descriptions, bar codes and serial numbers, and storing them electronically for safekeeping. The app also creates a back-up file for email sharing. After completing the home inventory, you should talk with your agent to make sure your policy is adequate to cover your property and possessions.

Tips for creating a home inventory

  • Start by recording “big ticket” items such as jewelry, art, family heirlooms, collections and electronics.
  • Document your possessions room by room.
  • Collect copies of receipts and appraisals, including model name and serial number.
  • Take video or photos of every possession and document its age, current value and purchase price.
  • Store your home inventory in a safe, easily accessible place online or in a fireproof box. Consider storing a copy with friends, relatives or your insurance provider.

If you have any questions, you can use the Nevada Consumer's Guide to Home Insurance as a guide when making decisions about home insurance. It contains valuable information about purchasing and understanding coverage for your home and your personal belongings.