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Consumer Alert: Home Inventory

Commissioner Miller is reminding consumers about the importance of keeping a home inventory checklist. Having an exact record of the belongings in your home makes it easier to submit a claim on your homeowners insurance policy for replacement or actual cash value in the event of damage or theft.

Spring is here, and many Pennsylvanians are in the process of spring cleaning. This is a great time to take note of your belongings and either start your inventory or make changes to it.

It’s a good idea to record enough information about the items in your home that would make them easy to replace. This could include the brand name, model, the price at which you purchased it, and when you bought it. This is particularly important with electronics.

The more details you have about your possessions, the easier it is to make an exact, detailed insurance claim, and to replace the items in question. Taking photographs of your belongings and keeping receipts or documentation that provide proof of ownership is also helpful.

Once you complete your inventory, it is a good idea to talk with your insurance agent or company to confirm what your policy covers, and to determine if you need additional coverage for any of your belongings, like expensive jewelry or instruments.

The National Association of Insurance Commissioners (NAIC) has a printable inventory checklist that you can fill out, as well as apps for iPhone ® and Android ®.

For more information, visit our Homeowners Insurance page.