If you’ve just created your first home inventory - congrats! But you’re not done just yet. that include the price and purchase date of the item (on a card placed next to it).Plain ol’ phone pics will do if you don’t have alternatives, but a solid home inventory typically features photos: This way, if you have particularly high-value items you’ll know exactly how much to insure them for, and if any cover limits apply.īut be careful not to misplace it when you’re out and about! You’ll need to add optional Portable Valuables Cover for an additional premium if you want to cover your items for accidental loss or damage away from home.Įxplore Portable Valuables Cover Take photos This means getting an expert to verify the item’s value. If you have designer watches and jewellery, or family heirlooms lying around, you should get an appraisal report for them. For more info on limits, refer to the PDS. For example, with AAMI Contents Insurance, a collection of memorabilia - think stamps or coins - has a limit of $5000 per collection, unless you choose to specify the full amount. It’s important to note that there may be limits on what you can claim for a collection as a whole. Just make sure to note any valuable items, like an expensive suit or dress! For instance, six dresses, five blouses, five skirts and three pairs of shoes in a “clothing” category. You can do it by room, type of item, collection, etc.Īnd while you’re obviously not going to have receipts for everything you own, you can still provide a general count in large categories of items to help get an average value. You can categorise your home inventory however you like. Get a Home and Contents Quote How to create a home inventory Categorise We provide new for old replacement too! So, if you need to replace an item, we’ll help you do so with a brand new one of the same type, standard and specification, or as close as we can find. Unsure how to calculate how much insurance you need? Try our Home Contents Calculator to help you estimate the sum insured you may require.ĪAMI provides a range of different Home Insurance options to fit a variety of different lifestyles and demographics. You want to be sure your sum insured will cover your home and belongings if catastrophe strikes, and properly valuing your items is a great way of knowing whether you’re underinsured. It can also help you prove the value of certain items. Referring to a home inventory will help if your belongings are damaged or destroyed in an insured event and you need to make a claim. A simple list of what you own is better than nothing! Why home inventories can be useful if you need to make an insurance claim It can be as simple as just jotting down everything you own sans details, or it can be in-depth enough to include the following info for each item: What is a home inventory?Ī home inventory is simply a list of personal belongings you keep in your home. This is where a home inventory comes in handy. A safety deposit box or even a locked drawer in your office would probably work for an off-site location.Would you be able to remember everything you owned if your home was destroyed? Chances are you’ll remember big stuff like furniture and countertops - but it’s easy to forget smaller items, like appliances and cutlery, or things you don’t use very often, like your Christmas decorations. When you have completed your home inventory, store a paper copy and a digital copy in a secure location outside of your home and/or in a fireproof safe. Record a quick video clip of each room in your home, and store the video clips and digital photos on a flash drive with your inventory. You might even want to do a walk-through video. Taking photos of your property for your home inventory will make working with your insurance company go a lot smoother. For insurance purposes, it would be better to list each item separately so that you can include the price, serial #, and model # for each item. Some of the descriptions in the inventory list, like "Electronics", are just placeholders to remind you to include your electronics. The Inventory Spreadsheet includes some of the common locations and items that you might want to consider when creating your own inventory list.
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