How to Create a Quality Home Inventory List

When you want to get a personal property insurance policy added to your home insurance, you’ll want to create a home inventory list. 

Start with the Basics 

Start out using pen/pencil and paper for your list. You can look online to see how you should format this list.  

Include the Expensive Items 

You should make sure to have all of your expensive items on your inventory. Some of the more common ones to include are antiques and artwork as well as specialty equipment. Take care not to forget items like musical instruments, firearms and collectibles. 

Keep Your Receipts 

It’s important that you keep documents that involve your large purchases. This helps you to show proof of ownership to your insurance company if anything has been damaged or stolen. Gather your paperwork such as appraisals and sales receipts, then add them to your home inventory. 

Focus on a Small Area 

Start out by focusing on a room or small area of your house for your process. This will keep you from being overwhelmed since you won’t think about your entire house at once. Just like with anything else, the most difficult part is beginning your process. 

Include Your Storage Space 

The standard homeowner’s insurance policy covers items that are in storage. However, there are limits to this. Make sure you take inventory of your storage unit contents. You might overlook this or think that it’s not covered, but you should turn this list in to your insurance agent. 

When you want to get coverage for your belongings, a home inventory is your best bet. Consider talking to an independent agent from Luke Peterson Insurance of the greater Altoona, IA area to get started. 

How to Build a Better Home Inventory

It’s essential to have an updated, complete home inventory, but it’s an easy task to put to the bottom of your list of priorities. It’s tedious and time-consuming. When it comes to picking the right homeowners policy, it’s an invaluable tool to have. It can prevent you from making a costly mistake in judgment down the road should you need to file a claim. Having an updated, robust home inventory can also speed up the claims process and help you get the best reimbursement possible for damaged or stolen items. 

Make use of technology. 

Technology has vastly improved the process of creating and maintaining a home inventory.  Many apps, some even free, can help you build an inventory, store photos and videos, copies of receipts, and item details. You can create your inventory simply with your phone’s camera, recording video and pictures of every item in your home, and capture receipts, appraisals, serial numbers, and more with ease. 

Document in order of importance. 

It’s a big task. It’s easier to begin when moving as you already have to handle all your possessions, but if you can’t do that, start with the most expensive, highest importance items. Then move room by room in order from most vital to least vital. You can survive without your dollar store basket included in the inventory, but it would suck to come out of pocket on your wall-sized 4k television. 

Keep it updated. 

When you make a new purchase, make a note of your home inventory. Apps make this much easier since you can take a snapshot and update it quickly and efficiently. As a bonus, these are more secure than a written list as they can be password protected and remotely stored. 

Know What to Record:

  • Item description
  • Serial number or make and model
  • Date acquired and purchased price, plus receipts or appraisal
  • Any other relevant information to replace the item, should it go missing

If you need additional guidance, please visit or call Luke Peterson Insurance today. We are happy to discuss how your home inventory can help you make the most of your homeowner’s policy in Altoona, IA. 

Tips on Choosing Home Insurance

Whether you are building or buying a home, it is a significant milestone worth celebrating. However, owning a home also comes with the responsibility of ensuring you are protecting it, which is why you need home insurance. For homeowners of Altoona IA who may need help with choosing home insurance, Luke Peterson Insurance explains a few tips that can help.

Understand Policies

Some people purchasing home insurance may not have a good understanding of what home insurance is all about. This can lead to making a wrong decision that will cost them in the event of a loss. You need to understand the policy, the coverage, and the terms and conditions you agree with. Once you have understood the specifics of the policy you are purchasing, you are at a better place to even negotiate with an insurance provider.

Customize Your Policy

Most insurance companies provide various add-ons to top up your policy. The add-ons are for things not covered in your policy, and you want them added. It can be an invaluable asset, like jewelry. It helps ensure that all your important assets are entirely covered.

Assess Your Requirements

Assessing your requirements is almost the same as making a shopping list of essential things to buy. Once you know what you need, it is easy to know what policy will work for you. Research online on home insurance or talk to an insurance agent to better understand various policies. When buying home insurance, research is key.

Window Shop

Once you have understood the different policies and requirements, look into various insurance companies. Please make a list of the different policies you find satisfactory, compare them, and then decide.

When it comes to choosing home insurance, it is all about finding a policy that gives you adequate coverage to be protected from financial loss in case of a disaster. Residents of Altoona, IA, can reach out to Luke Peterson Insurance for assistance in choosing the right home insurance policy.

Who needs to get home insurance in Altoona?

The Altoona, IA area can be a great place for people to move to. If you plan to live in this area of the state, you will want to know that your home is properly covered by insurance at all times. There are many situations when someone in this area of Iowa will need to have a home insurance plan in place.

When Taking out a Mortgage

A lot of people need to get a home insurance plan when they take out a mortgage. Most buyers of homes in Altoona will finance the purchase using a mortgage. With low-interest rates today, there are a lot of advantages that come with financing your purchase. If you finance the purchase of your home with a mortgage, you need to follow your lender’s insurance rules. Normally, this will include requiring that you have a full home insurance plan at all times. 

When Trying to Protect Assets

Even if you are not obligated to carry home insurance coverage by a mortgage lender, you should still get home insurance. Anyone that would like to buy a home will be making a very significant purchase and investment in their future. If you do not have proper insurance, you could be putting your investment in jeopardy. You will know you have the protection needed to repair or replace your home if it is severely damaged by getting coverage. 

Having home insurance is important for any property owner in the Altoona, IA area. If you buy a home, you should call Luke Peterson Insurance to discuss your insurance needs. When you call Luke Peterson Insurance, you can learn a lot about your options and get help picking the right policy for your situation. 

What does home insurance cover?

Homeowner’s insurance is designed to cover many things. However, how much coverage you need is dependant on several factors. Homeowners usually arent insurance professionals, and trying to navigate the ins and outs of homeowner’s insurance can be confusing if you don’t know exactly how much coverage you need. One of our experienced insurance agents at Luke Peterson Insurance understands the confusion that homeowners insurance can often create when there’s a fundamental lack of understanding of what this insurance covers and how much you need. 

Coverage Where You Need it

Homeowner’s insurance is designed to cover several specific things. Dwelling coverage is designed to pay for the rebuild or the repair of your home. However, where you live is going to determine your state minimums for this type of coverage, as well as your premiums and limits. Keep in mind that if you have a mortgage or home loan, homeowners insurance is more than likely, not an option but a requirement. As a point of reference, coverage limits should be equal to the cost of rebuilding your home in your specific city or state. Additional living expenses coverage typically accounts for thirty percent of dwelling coverage. This part of homeowner’s insurance covers your personal; items and how much it would cost to replace them if they were damaged or stolen. This coverage is also designed to cover the cost of housing if you are forced to live somewhere else while your house is being rebuilt or repaired. 

Personal Liability coverage

Home is where the heart is, and many make memories in and around our homes. As a result, accidents can happen. If we are entertaining guests in our pool, and a guest gets injured, we could be held liable for the injuries our guests sustained while visiting our property. Also, as homeowners, we might be deemed responsible for damage to the personal property of a guest while they’re visiting your residence. However, as an Altoona, IA property owner, you should keep in mind that policy limits will vary for this type of coverage. 

No one should navigate something as important as investing in homeowner’s insurance alone. You can benefit from the help of a Luke Peterson Insurance agent as an Iowa homeowner. Give our office in Altoona, IA a call. We’re here to help you pick the best coverage for your situation.