Taking inventory

Making an insurance claim can be a time-consuming exercise, but taking inventory before you buy your policy makes the the claims process simple and speedy

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When it comes to making an insurance claim, you can save a lot of time if you can retrieve the details of lost and stolen items quickly. Keeping a record of valuable items can help you through the claims process so that you can get back on your feet sooner.

There are a number of methods you can use to record your inventory including:
Computerised documents and spreadsheets
• Photographs and digital records
Apps available for use on your smartphone or tablet
• As a written document

Records should always be backed up and stored at a location away from the items being insured, in case of an event that causes destruction to original documents. Copy and store electronic documents onto a CD or USB (external electronic storage device), or save in a ‘cloud’ application such as iCloud or Dropbox. If your document has been handwritten, photocopy it and keep the original at a separate location.

Have you thought about what you would need to replace if the unthinkable happened?
Items to consider when creating an inventory include (but not limited to)*:
• Electronic equipment such as televisions, sound systems, computers and cameras etc
• Appliances
• Carpets, blinds and furnishings
• Bed linen and manchester
• Clothing
• Household goods including furnishings and furniture
• Luggage
• Sporting or recreational equipment
• Documents
• Money or un-set gemstones
• Jewellery and watches
• Antiques, coins, stamps, artwork and paintings
• Business tools, office equipment, and office or business supplies used in your occupation
• Small boats
• Private motor vehicle parts and accessories not attached to a vehicle
• Above ground pools and free-standing spas.

Details that you should record include but are not limited to:

  • Images
  • Description (include brand, material type, dimensions, special features, weight)
  • Location
  • Serial numbers
  • Cost
  • Place of purchase
  • Receipts.

For further information on WFI’s insurance and services, contact your local WFI Area Manager on
1300 934 934 or visit their insurance products pages.

*Please note that all insurance policies are different and may not cover items in this list. In addition limits may apply to certain items, so please check with your insurer.

Brought to you by insurance specialists WFI