With many of us spending more time at home, we’re tidying our closets, basements and storage spaces. While you’re doing this, it’s a great time to calculate the value of your belongings with a personal inventory.
Over the years, we accumulate a lot of things, and it’s easy to lose track. However, all belongings are worth a price, and you may be surprised. That’s where a personal inventory comes into play. To create your own and ensure you will be adequately compensated for your possessions if they are stolen or damaged, here are some tips to follow:
Do your research
Shopping addicts will be thrilled because an important step to creating your personal inventory is to identify the retail price of your goods. Do some online sleuthing at your favourite stores to have a better idea of what it would cost if you had to replace everything.
Clean out your closet
You don’t have to wait for a change of season to tidy up your wardrobe. Go through your clothes and accessories one by one in order to have an accurate count and take the opportunity to donate what you don’t want anymore. This will help you develop an estimate of what your closet is worth. In the future you can save your receipts to update your inventory with new items.
Use online tools
Some insurance providers such as Belairdirect offer user-friendly forms to help you. They will speed up the process and make it easy to keep it updated, organized and accessible.
Rent with peace of mind
Even if you are a tenant, it is important to make an inventory of your belongings. Whether it’s the fridge your aunt gave you when you moved out, your grandmother’s sofa or your parents’ old bed that furnishes your home, all your belongings must be listed so that you have an accurate replacement cost for all your household goods should anything happen.
After all the hard work you’ve done, it’s important to stay on top of your list with check-ins every year or each time you make large purchases.
Find other tips and learn more about the importance of an up-to-date personal inventory at belairdirect.com.
credit – newscanada.com