For those of you who are just beginning your personal property inventory here are a few tips
- Start now: The longer you wait, the more you will forget.
- If your adjuster gives you an inventory form with several columns of information to fill out about each item, review your policy to determine which are required and which aren’t.
- List everything (itemize as much as possible): You will end up with thousands of dollars of items that each cost less than $5. Yes, we mean everything.
- Never use the original cost of the item. Always use today’s replacement cost.
- For antiques or collectibles, ask an expert to give you a written estimate. Find a dealer who will be sympathetic to your cause and appraise the items from the photographs and your description
- Potted plants can be claimed as personal property.
- Use catalogues, the internet and gift registries to your advantage.
- If you are a member at a warehouse store, ask them for a copy of your purchase history.
For more tips, download: Handout04-PersonalProperty.pdf
Don’t forget about our sample inventory! PPInventory.xls