To assess the total value of the contents of the dwelling. This value is based on the current replacement costs of the entire contents. Accurate completion of the inventory will avoid Condition of Average being applied in the event of loss.
· Using the printable Householder's Inventory form, move methodically from room to room in your home, and assess item by item.
· Record the make, models and serial numbers of major household appliances. Retain your original purchase documents such as invoices and operating manuals.
· Most policies limit cover for expensive items such as jewellery, artworks, stamps and coins, furs, rugs and loose carpets. You may need to have these items more specifically insured.
· To determine the value of the items it may be easier to use the store catalogues, or to visit an online shopping site.
· Once you have completed the inventory form, submit the form to your broker or insurer as a permanent record of your current value at risk. A video recording or photographs makes it easier to record and identify your household items. Your inventory should be updated annually or alternatively periodically on the acquiring of additional household goods.