On Your Holiday List: A Home Inventory (What It Is and Why You Need One)

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Iscential Agent Drew Stewart gives some sage advice on how to prepare yourself and protect your possessions this holiday season.

It's essential to get a Home Inventory done before the unthinkable happens. You need to be able to show what you have and what it's worth.

The holidays are here and unfortunately this time of year is prime for theft and other crimes. Iscential Managing Agent, Drew Stewart outlines some simple steps to help protect his clients' homes and belongings in case the unthinkable happens, staring with a Home Inventory.

What is a Home Inventory?
"A Home Inventory is simply a list of the items in your home: what you own, how much it's worth, and your ability to prove possession/ownership (receipts, photos, etc.)," says Stewart.

What does a Home Inventory include?
Everything! The first items that come to mind are usually the most obvious: furniture, appliances, electronics, artwork, jewelry and treasured keepsakes. But don’t forget the occasionally overlooked draperies, carpets, toys, clothing, etc. "Document every item in your home," says Stewart. "Video tapes, photographs and receipts are invaluable records in a home inventory as well."

Although documenting the contents of a home may be time consuming, having this information is critical when filing an insurance or police report. If a natural disaster or burglary occurs, an insurance company will require documented proof of possessions that are stolen, damaged or destroyed. They will want an itemized list that is not easily created from memory, especially during or after a crisis. And they will ask for proof of possessions. A Home Inventory will also help determine the amount of insurance coverage that is needed.

Stewart gives details and tips on how to create a Home Inventory on Iscential's blog: http://iscential.blogspot.com/

Drew Stewart manages Iscential’s Memorial location. He has more than 10 years with the firm, is a Certified Financial Planner and MCE instructor. To contact him, call 713.468.5331.

Iscential provides a full range of risk management, insurance and financial services for families and businesses, including: auto, motorcycle, boat, homeowners, life, farm, flood, commercial, Texas Workers Compensation, administrative services, annuities, mortgages, mutual funds, pensions, long-term savings plans and health and productivity services.

For more information, call 713.856.5533 or visit iscential.com

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Angie Goings
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