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Home Inventory - Not Just For Your Home

Cindy Hartman
 


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The term “home inventory" can be misleading. It is commonly used to talk about “personal property" whether in the home or elsewhere. There are home inventory service providers who document the contents of houses, mainly for the purpose of maximizing an insurance claim. However, some of these service providers also provide inventories of the assets in businesses, storage units, trucks, trailers, RVs and garages.

Most insurance agents stated that they encourage their customers to record their contents, but they know that very few actually complete the task. So to find out what types of inventories our readers have - if any - we conducted a survey. The results showed that only 9% have an inventory of the contents in their homes. Surprisingly, a much larger percentage documents their belongings located elsewhere.

VACATION HOMES

An amazing 71% have an inventory of their assets in their vacation homes. This might be due to the fact that they are also rental properties and the opportunity for damage or theft is high. Additionally, since they are not there often, it is understood that it would be difficult to recall everything if there becomes a need to file a claim.

STORAGE BUILDINGS

The same number - 71% - have documentation of the items placed in storage. The easiest way to record these is when you're loading the items into the unit. If you already have belongings stored, it's worth the effort to pull them out and record them.

BUSINESSES

Unexpectedly, only 34% of business owners responded that they have an asset inventory of their businesses personal property. Insurance adjusters state that if you have an inventory, you can anticipate you'll file your initial claim within 48 hours. Without this information previously recorded, the initial claim normally takes at least 4 months to submit. If you don't have the funds to replace your desks, computers, chairs, equipment, etc. , will you be able to remain in business? Will your customers and/or employees wait that long for you?

Comments on our survey:

A client had a theft claim, had an inventory and got full settlement and was very satisfied.

If we had a disaster, we would be changing our life circumstances significantly.

Take the time to document all your personal property - your home, storage unit(s), vacation home and business. If you can't or choose not to compile the information yourself, and now see the need to have a thorough record of your belongings, contact a home inventory service provider for an efficient, cost effective process that will bring you peace of mind.

Cindy Hartman is President of Hartman Inventory, a woman-owned business. Visit her website at http://www.HartmanInventory.com to discover more reasons you need a business or home inventory. Also view the Turnkey page to learn about the Hartman Inventory Systems, a complete turnkey business package; start and grow your own personal property inventory service. Cindy's blog, at http://www.HartmanInventoryBlog.com discusses marketing, management, entrepreneurship and asset inventories.

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