Scheduled personal property is an add-on to homeowners, condo or renters insurance to insure high-value items for their full value. If you have valuable items, you can “schedule” them. That’s because homeowners insurance might put a special sub-limit on certain types of items.įor example, a common homeowners insurance policy puts a $1,500 limit on theft coverage for jewelry and watches. While you’re documenting all of your stuff, it’s a good time to take a look at high-value items such as jewelry, musical instruments, artwork and electronics. Re-Evaluate Your Insurance on Valuable Items Please see our Privacy Policy for more information and details on how to opt out. Some apps may not be available on all operating systems and may require in-app purchases.īy providing my email I agree to receive Forbes Advisor promotions, offers and additional Forbes Marketplace services. Review information about filing insurance claims.The National Association of Insurance Commissioners recently launched a home inventory app (available in the App Store or through Google Play) that has the ability to: You can use an app for your smartphone or tablet to list items, store photos and video. If you’re taking a video, it’s a good idea to describe the item, its estimated value and the date of purchase. If possible, get a clear shot of the serial number. Take a walk through your house and capture each item. If you have a smartphone, you have the tools you need to record your personal belongings with photos or video. Or, group together items like antiques, artwork, clothes, collections, jewelry, kitchen items, furniture, musical instruments and miscellaneous items. Organize your list by groups of items.Don’t forget the small stuff, like books, knickknacks and decorations on your shelves. For example, start in your living room and list everything, like your TV, coffee table, recliner and sofa. Pick a room and record all of the contents. Here are some organizing tips to get you started: Make a ListĪ list can be as simple as a pen and paper or a spreadsheet on your laptop. That way you can add any items you’ve acquired or delete items you’ve gotten rid of. It’s a good idea to update it every year. You’ll also want to update your home inventory on a regular basis. For example, you can store an electronic copy in a cloud service or keep a hard copy with a relative. However you decide to create a home inventory, the key is to be as detailed as possible and to store a copy of the inventory outside your home. As you inventory your personal belongings, don’t forget all of your drawers, closets, attic, basement and if you’re brave, take a look under your bed. Or use a home inventory app to help you compile your list. How Do I Make a Home Inventory?Ī home inventory can be as simple as a written list, pictures or video. Your homeowners insurance policy may cover items at off-site facilities from problems like theft and fire. For example, “Six pairs of jeans, 10 dress shirts, two pairs of sneakers.” But make sure to note any valuable items, like an expensive suit or dress.Īnd don’t forget off-site items, such as belongings you keep at a storage facility. But for general categories, like clothing, you can provide a count. You’re obviously not going to have receipts for everything you own. A description of the item, including the make and model (if applicable).In order to calculate crucial details about the stock, the predefined formulas in Excel are used that save a lot of time.A good home inventory should have the following information: When you want to drill down how every item in the inventory is performing, you can do it simply by using the inventory template. The best thing about Excel inventory template is that it can easily be converted to PDF format. Excel software has many built-in features that are easily collaborated with the template.ĭue to this, the majority of people want to use this template in Excel file format. The inventory template is usually prepared in Excel file. These templates have been designed with the intention to make your life easier. You can simply download the inventory list for your home or office and can keep track of all the items that you are holding. It also lets the user know if the particular item has been discontinued. It also includes columns for tracking all the reordering, time of reordering, the quantity of reordering information about all the items in the inventory and a lot more. The template includes a separate column in which the user can track all the stock. Excel inventory template is one of the best pre-designed spreadsheet(s) that has been prepared to serve people in a number of ways.Īpart from counting all the products in the inventory, the inventory log also enables the user to perform multiple tasks.
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