Property insurance protects more than your home: It also protects everything within the house damaged by a covered occurrence, such as a fire. To ensure a plan is sufficient for the value of your belongings, you must perform a home inventory. Below is a brief guide to doing so and why it matters. 

Why Take Inventory for Property Insurance?

1. Pictures or Video 

A visual inventory of your belongings is useful when purchasing property insurance. Not only does it help document your items, but it also provides the agency with more insight when determining depreciation. You can also store the visual inventory digitally, so it will still be accessible if the home computer equipment is damaged.

2. Details

List all serial numbers for your items when possible. If not, save other details, like the brand name and a description that includes the date of purchase and current condition. Having this information makes it easier for your insurance company to tally the total value of your possessions in a worst-case scenario. Items are typically covered based on their replacement or cash value—which is the former amount minus depreciation.

3. Receipts for New Items

Always update your list as necessary. Whenever purchasing new items, keep the receipts—especially for high-value products, such as TVs or home appliances. Coverage limitations may fall short with these expensive items. Jewelry or antiques often require additional personal property insurance, so check in with your agent as you acquire assets.

If you need property insurance in Texas County, MO, Mitchell Insurance Agency LLC will help you find effective and affordable coverage. With over 65 years of experience, these agents offer quality customer service. In addition to this plan, they also assist with life, auto, and business insurance. Call (417) 967-2140 today to schedule an appointment to discuss your situation. For more information about their products and services, visit them online.