Does your insurance cover the value of your belongings?

Imagine you could take the roof off your home and turn it upside-down. Everything that would fall out is considered personal belongings in the insurance world.

Putting together a home inventory can help you make sure you have enough coverage. You might not realize just how much your stuff is worth until you start documenting it all. How much would you spend to replace all of your clothing? What is the brand of your couch or oven? How old is your computer? Do you own power tools or medical equipment?

If counting every kitchen towel makes you want to stop before you start, consider a video inventory of each room. Use your smartphone and start at the front door. Walk around the inside and outside of your home, narrating as you go by describing features of your home and personal property items. This will get you a base to help you determine if your coverage limit is enough. Talk to your insurance agent to adjust your limit before disaster strikes.

There are also different apps that can be used to help. NAIC is the one recommended by the Illinois Department of Insurance. There are also AI-driven apps can provide an estimate value while others create a spreadsheet with brand, model, serial number, quantity, and price per line item.

If disaster strikes before you’ve gotten around to creating an inventory, you can try the following to get the most from your home insurance claim:

• Check your phone and social media accounts for photos of the interior of your home. You can also ask family and friends if they have any pictures taken at your house.
• Look for a list of common household items to help refresh your memory.
• Check your order history at the online stores where you shop most often. Your email account may also have receipts for past purchases.