A Household Inventory Can Help in Case of a Residential Fire

When you make a fire insurance claim, an important part of the process is putting together a Schedule of Loss. That is a list of personal belongings (including the possessions of any family members residing in your home, but not including tenants) that have been damaged or lost during the fire. They may have been consumed by flames or suffered water or smoke damage.

Your insurance company or insurance adjuster may help with making your Schedule of Loss, but only you can be responsible for making sure that the list fully represents your belongings. Remember, no one else knows exactly what you had, so cooperate with people trying to help, but be prepared to make revisions. Covered belongings include things like furniture, clothing, electronics, and even food.

If you are dealing with a residential fire and insurance claim, it can be difficult to compile a list of everything lost or damaged. Working from memory alone is daunting, and while it’s true that you may be able to recognize items once you are allowed access to your home again, if it is a total loss, the insurance adjuster or restoration specialist probably won’t be able to identify every belonging for you.

Creating a Household Inventory Before a Fire

Although you hope you never have to go through a residential fire, they can happen for a variety of reasons, many of which are out of your own control. It makes sense for everyone to prepare in advance in case they have to make an insurance claim, but even more so if you live somewhere that’s prone to wildfires or similar risks.

A household inventory is a very useful tool for handling residential fire insurance claims. It’s a comprehensive list of your belongings made before any disasters occur, so you’re not left trying to remember or piece together all of your belongings in the aftermath of a loss.

Here’s how you can start creating a household inventory:

• Create a detailed list of possessions;
• Ask your children to contribute their own lists of belongings;
• Include details such as the brand or manufacturer, even the serial number of electronics if you can find it;
• Go through your home room by room;
• Include copies or digital versions of receipts where possible: proof of purchase and purchase price are invaluable if you have to make an insurance claim later;
• Include photos where possible, consider saving photos of large value items, or general room-by-room photos to the cloud;
• Update your household inventory as you buy new things.

Keep a digital copy of your household inventory in cloud storage, or even just in your inbox, so that you can access it anywhere from your phone or computer. Having a digital copy means you don’t have to worry about losing the list if the worst should occur.

Making a Schedule of Loss After a Fire

Only an estimated 50% of all families have and maintain a household inventory. Many families who experience a residential fire will have to generate a Schedule of Loss after the fact. Use some of these tips to make the process easier on you and your family:

• Start by compiling lists of belongings room by room;
• Ask friends and family for help brainstorming lists;
• Send a provisional Schedule of Loss to the insurer to get the claims process started, but don’t sign off on a final version until you are confident it is complete.

If you are making a residential fire claim, working with a lawyer or an independent insurance adjuster can make it easier to ensure that you are creating and submitting a comprehensive Schedule of Loss. However, compiling and verifying the list will largely be up to you. Consider making a household inventory just in case something happens.