Singapore - Inventory List
Why do you need it?
Moving is always a stressful experience. Now imagine transferring the contents of your home - prior to moving - onto a piece of paper… with all the hundreds of other things to do!! But in order to insure your shipment, this is what is required of you.
And even if you are not moving, this inventory is useful, in case your home or any other property is damaged or stolen. In such a situation it comes in handy having a photograph of the items and their values stored somewhere to refer to for the insurance claim (if you are insured of course!).
Some policies pay for items that are lost, stolen or damaged outside the home; this type of policy pays if: you lose a diamond ring, you damage your computer while travelling or someone steals your wallet from a hotel room. If you own a home, personal property insurance can be part of the homeowner's policy.
In any case, lost, stolen or damaged household possessions can be more easily replaced or identified if you keep the purchase receipts and the items recorded in on a video tape or in photographs. This practice is called "creating a household inventory" and it's something that you should do regularly if you own anything of value, such as jewelry, furs, rugs, art, computers, furniture and collectibles. If you don't have receipts, get a written appraisal or a value estimate for each item.
A household inventory will also make it easy to determine whether you have sufficient insurance coverage and, in the event of a claim, helps to verify losses easily. Updating a bit at a time is easier and more efficient than doing it all at once at the time of relocation.
Store this list and documents (receipts, photos etc.) in a safe place (if you can, purchase a fire resistant safety box, if not you can use the bank safety deposit box). Keep an additional copy at home. As you compile the list, save it on your home computer and e-mail a copy to your office or to a person you trust.
You can have your copy of the documents and inventory list safely saved on you private space on 'MY PAGE' here at Paguro. So if you have not yet created your inventory household list, you can do so here.
To get started, you might want to organize your work by rooms (kitchen, bathroom, living room, master bedroom, child bedroom, garage etc.). For appliances, tools and other instruments, write down the serial numbers of cameras, computers, TVs, and stereos, together with the model number and year of purchase. Go through wardrobes, closets and drawers. For clothing, go by category (coats, dresses, suites, shoes etc.) and list the overall number, making a separate recording of more expensive items, such as furs or unique designer clothes.
It’s better to keep a list of your general household items and a list for valuables, since - for the latter- you can consider having a separate insurance policy and you might wish to update the policy, should the value increase significantly over a period of time.
Added or optional coverage may not cover the increased value of your valuables.
Also do not overlook the difference between the “contents’ actual cash value insurance” and the “replacement value insurance”. If you insure only the contents’ actual cash value, depreciation will affect your insurance claim settlement amount. For example, a dining table you paid $2,500 for five years ago, will cost you $2,900 to be replaced. If your policy covers the replacement value, you get $2,900.
The depreciated value on the other end is lower, because the table is older; its value being around $1,200.
If your insurance policy covers only the contents' actual cash value (i.e.: the depreciated value) you receive a refund of $1,200.