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Do You Have a Home Inventory?

Close your eyes. Now, can you name everything in that room? What about the most valuable items? How about your entire house? Our guess is most likely not. If you have a home inventory, not being able to complete this exercise is not a problem. But, if you don't have a home inventory, imagine what would happen if a fire broke out and destroyed portions of your home. How would you be able to document and prove your loss of valuables and personal belongings to your home insurance company?  

No one expects their home to be involved in a fire, home invasion, flood, or other disaster, but it is imperative that every homeowner plan for such an event.One of the best ways to do this is to create a home inventory. A home inventory is simply a collection of pictures, videos and documents that show the contents of your home and their value. It can be a huge help when making an insurance claim.

When creating a home inventory list focus on the following:

Description: Include a picture or short video of your item along with some descriptive information such as where it is kept, any modifications made, and any other information that might be pertinent that you can not easily see in the picture.

Manufacturers, Models, and Serial Numbers: Snap a picture or document brands, serial or model numbers. This can usually be found on electronics, tools and appliances. This will make it easier to identify the exact item you have in your home.

Initial Cost and Proof of Purchase: Keep any documents that have to do with the cost of major purchases. If you have ever gotten anything appraised be sure to keep that information too. vipHomeLink makes this step easy. You can scan any document into our app, and you know it will be securely saved in an easy-to-access location.

Big-ticket Items: Home inventories are not just for artwork and antiques (of course include those too!) but remember to include your other big-ticket items like power tools, lawn mowers, televisions, collectables, memorabilia, musical instruments, and other valuables. Some of these items may also require extra insurance coverage.

Smaller-ticket Items: Don't forget to include smaller-ticket items, too. When documenting items such as clothing, shoes and cookware you don't need to be quite as specific. Listing these items such as 20 shirts and 4 baking dishes should usually be enough, unless some items are very high end designer products. Of course we also recommend you check with your insurance carrier or agent if you have any questions.
You might be thinking that your home does not contain a lot of valuable items, but you would be surprised. The cost of replacing all the items in your home can be exorbitant and a real burden if you don't have the proper insurance. To make this point, take a look at the room you are sitting in right now.Do some quick mental math and add up the cost of replacing everything in that room – and not just the sales price, but the actual cost of replacement. It adds up quickly!

Creating a home inventory can seem like an overwhelming task, but it doesn't have to be. Today's technology and smartphones really help make it much faster and easier. Plus, you could use an app to help – especially the one from vipHomeLink.

When you log into the vipHomeLink App, there are two ways you can build information relevant to a Home Inventory.The Profile is designed to help you log all the information about your home including make and model of appliances, dates of maintenance or renovation and other details.There are sections for plumbing, electrical, appliances, etc.Within the vipNotes sections of each home profile category, you can upload images, documents, receipts and other elements important for building a home inventory.

If you go into the vipHomeLink Journal section of the App, you can create individual posts in social media format. You can jot down a description of any item, attach an image, upload a receipt, and immediately post it to the Journal. The beauty of this system is you can tailor how quickly you want to build your home inventory. Do it all in one day or little by little, the choice is completely up to you. No matter how you choose to build your inventory you can rest assured that it is all in one secure location.

The genius of the vipHomeLink App is that all of your documentation and information is kept in one secure location. So, if disaster does strike, and you need to make an insurance claim, you have access to everything you need right inside the App.

At vipHomeLink, we want you to have, but never need your home inventory. We strongly recommend that you leverage our reminders, recommendations, and vipTIPs to help reduce the chances of you needing your home inventory.

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