How To Complete a Total Loss Inventory List After a House Fire?

After a fire destroys your house, one of the most challenging aspects of filing a claim is accurately documenting your personal belongings to ensure you receive full compensation for what you've lost. To avoid leaving settlement cash on the table, completing a total loss inventory list is a stressful task that must be completed accurately. Recognize beforehand that it will be dirty, time-consuming, and demand a lot of patience as you methodically catalog the numerous belongings you've amassed throughout your lifetime.

Ensure Its Safety

Before entering your fire-damaged home, you must receive explicit permission from the fire service. Wear protective equipment, such as a long-sleeved shirt, long pants, rugged close-toed shoes or boots, work gloves, a hard hat, safety glasses or goggles, and a certified face mask or respirator (marked NIOSH, N95, or P100) to avoid inhaling ash, soot, and other harmful pollutants.

Creating a total loss inventory entails going through your entire home/buildings, room by room, taking several photographs/videos, and then creating a list of your assets, noting their age, condition, and replacement cost worth.

One Room by One Room

Draw a diagram of the house and label each room. This will assist you in recalling the contents of each room. Bring in large goods, such as furniture and electronics.

Beginning with one room, photograph multiple smaller objects placed on a level surface, such as a tabletop. Ensure that you can view the photographs well. Continue until you have shot everything in that room, then go to the other rooms and repeat the process until you have documented everything.

Once all images have been taken, you may begin the laborious task of looking through them and listing every item depicted, being as descriptive as possible with the brand, age, amount, price, and condition.

Include the purchase price of each item in your inventory. Include receipts for the original purchase of your property whenever possible. If you do not have receipts or they have been lost or damaged, the merchants may be able to provide duplicates. You can also study comparable items' values on the Internet. Notate the price of replacing your damaged item with a new one of the same kind and quality.

Visit the department store's website and use the wedding register feature to recreate a list of the items lost in the fire. If the lost item is no longer available, list the closest alternatives. Download a price-scanning app and scan the damaged items to generate a list of new items and their costs.

Attribute Replacement Cost Values to Your Possessions

As there are hundreds of items of personal property that need to be replaced, you must be thorough and methodical when creating your complete loss inventory list. Some plans provide Replacement Cost Value (RCV) coverage for damaged personal goods, but insurers require their insureds to jump through a few hoops to receive full reimbursement. While many policyholders find the procedure complicated, it ensures that your items are replaced in a manner that prevents the insurance company from overpaying.

As you perform your inventory, provide as much information as possible, including receipts, photographs, and a replacement cost for each item. The insurance company's adjuster will reduce each item to its Actual Cash Value (ACV) depending on its age, condition, and wear and tear (which is negotiable). Your carrier will withhold the depreciated amount until you prove that a particular item has been replaced.

Keep all invoices and receipts for refund purposes.