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What is a Home Inventory? A home inventory is a detailed list of the personal property located in your home. You
should also include property that you have stored elsewhere, perhaps in a storage area or a garage on the premises. It should
include your furniture, jewelry, artwork, antiques, appliances, kitchen contents, clothes, carpets, drapes, computer equipment,
electronics, musical instruments, clocks, mirrors, linens, tools, sports equipment, and any other items of value.
Having an inventory of all items in and around your home is an important part of maintaining control over your home
ownership. First of all, for estate and financial planning purposes, it gives you a complete picture of your personal property,
the value of which can be totaled and is a component of your current net worth.
Secondly, a comprehensive home inventory is important should you ever have an insurance loss. Insurance Companies require
information about the circumstance of your claim and detailed documentation of your home's contents as evidence to justify
the amount you are claiming. An up-to-date home inventory complete with video and photographs will save you a great deal of
aggravation should you need to report a loss to your insurance company.
An inventory of your possessions not only helps you determine how much homeowner's insurance you should carry, but it
can also help you get your things replaced (or returned) if they should be stolen. Detailed records of antiques, jewelry,
silver, sporting goods, major appliances, and collector's items are very important, as these items are difficult to value
once they're lost.
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