Why Keeping a Record of Your Valuables Can Speed Up Insurance Claims

Losing your personal belongings to theft, fire, or water damage is a deeply stressful experience. In the middle of dealing with the emotional impact, you also have to begin the process of making an insurance claim. Trying to remember every single item you owned, from electronics to clothing, can be an overwhelming task, especially during a difficult time. A detailed record of your possessions can make this part of the process much simpler and faster.

What Is a Home Inventory?

A home inventory is simply a list of your personal possessions, along with details about their value. Think of it as a personal stocktake of everything in your house. The purpose of this record is to provide clear and organised proof of ownership for your insurance provider. Having this information ready helps you confirm you have the right amount of contents cover and can significantly ease the claims process if you ever need to make one.

Without a list, it is easy to forget items, particularly things stored away in cupboards or the attic. A good inventory gives you a comprehensive and accurate picture of what you own, removing the guesswork and pressure of trying to recall everything from memory after an incident.

Making the Claims Process Smoother

When you make a home insurance claim for lost or damaged goods, your insurer will need to verify what you owned and its approximate value. An inventory provides this information upfront in a clear and organised format. Instead of spending days or weeks trying to piece together a list of missing items, you can supply a document you have already prepared.

This simple act of preparation can reduce the back-and-forth communication with your insurer, helping them to process your claim more efficiently. With clear evidence of ownership and value, there is less room for questions or delays, allowing you to move forward with replacing your items sooner.

How to Create Your Record

Creating an inventory might sound like a big job, but it can be broken down into simple steps. You do not need any special equipment, just your phone and a bit of time.

• Go through your home one room at a time to keep the task manageable. Open all drawers, cupboards, and wardrobes to make sure you do not miss anything.
• Use your smartphone to take photos and record a video of each room. For individual items, especially valuable ones, take close-up shots showing any unique features.
• Note down important details for electronics and appliances, such as the make, model, and serial number. This information is often on a sticker on the back or bottom of the device.
• Keep proof of value. This can include digital or paper receipts, bank statements, warranties, or professional valuations for items like jewellery and art.

 

A Practical Example of a Claim

Imagine two neighbours, Tom and Jane, both experience a burglary. Tom does not have an inventory. He spends the next few weeks trying to remember everything that was taken, searching for old receipts and bank statements. The process is slow and stressful, and he worries he has forgotten some items. This delays his claim.

Jane, on the other hand, has a digital home inventory. She can quickly send her insurer a complete list of the stolen items, complete with photos, descriptions, and copies of receipts. Her insurer has all the information needed to assess the loss promptly. Jane’s preparation means her claim is handled far more quickly, reducing the disruption to her life.

Storing Your Inventory Safely

Your inventory is only useful if you can access it after a loss. If your only copy is on a laptop that is stolen or in a notebook that gets destroyed in a fire, it will not be much help. It is a good idea to store your record securely away from your home.

You can use a free cloud storage service to save your list, photos, and scanned receipts. This means your inventory is protected from any event that affects your property and can be accessed from any device with an internet connection. You could also share access with a trusted family member.

Taking the time to create a home inventory is a small effort that can make a huge difference during a difficult time. It provides peace of mind and puts you in a stronger position for a smooth claims process. Taking a fresh look at your policy is also a sensible habit, and there are simple steps to take before switching insurance provider. This preparation ensures you have the right protection in place long before you might need it.