List It Before You Lose It: Spring Is a Good Time to Organize Your Possessions

Spring is here! That means it’s time for many people’s least favorite chore: spring cleaning. Though it can be time-consuming, it gives you a chance to organize, go through your belongings, and know exactly what you have.

For insurance purposes, it’s also a good time to take inventory of your possessions.

In the event of a disaster, creating a home inventory can make the insurance claims process easier and may also help you replace your covered losses sooner.

In other words, list it before you lose it!

Tips for Making a Home Inventory:

• Make a list of possessions, including ‘celebration’ purchases such as jewelry and fine art.
• Think about family heirlooms, collections, and furniture. Also, consider items related to everyday leisure time, from flat-screen televisions to custom guitars.
• Take note of commonplace items such as toys, electronics, and clothing. Do not forget items you may only use occasionally, such as holiday decorations, sports equipment, tools, and high-ticket items kept outside your home, such as landscape art and swing sets.
• Attach copies of original sales receipts and/or appraisal documents to your inventory. Be sure to note the model and serial number.
• Group your possessions into logical categories (e.g., by room in the house).
• Carefully photograph or videotape each item and document a brief description, including age, purchase price, and estimated current value.
• Store your home inventory and related documents in a safe, easily accessible place such as a secured site/file online, a fire-proof box, or in a safe deposit box.
• You may want to share a copy with your insurance provider so they can help you make any necessary updates to your coverage.
• Items like jewelry and artwork can appreciate in value. You may need optional coverage, also known as “scheduled personal property.” By having them regularly appraised helps make sure that they are always insured for what they are worth.
• Review and update your inventory annually and whenever you make a significant purchase.

There’s an app for that

Getting started is as simple as downloading the free NAIC Home Inventory app on your smartphone. This app:

• Allows you to photograph and describe product information, including barcodes and serial numbers;
• Will store all information electronically
• Gives you the option to categorize things by room

While spring cleaning may be a chore, keeping a home inventory, especially with the app, can be a breeze.

For additional help, contact the Department’s Consumer Affairs Division at insurance@ct.gov or call (800) 203-3447 or 860-297-3900 or on the Insurance Department Website.