LACEY, Wash. -- After this winter's storms, now is the time for homeowners and renters to prepare an inventory of all of the items in their homes, according to state and federal officials.

The U.S. Department of Homeland Security's Federal Emergency Management Agency (FEMA) and the Washington Emergency Management Division (WEMD) remind people that with a home inventory list, an insurance agent can provide owners and renters with a policy that matches their needs. In addition, after a disaster, an inventory can help provide proof of personal property loss.

Release Date: January 26, 2007
Release Number: 1671-036

FEMA and Local Officials Stress the Importance of Home Inventory

Release Date: March 16, 2006
Release Number: 1603-402

BATON ROUGE, La. -- Now is the time for homeowners and renters to begin the process of starting and maintaining an inventory of all of the items in their homes, The U.S. Department of Homeland Security's Federal Emergency Management Agency (FEMA), the Governor's Office of Homeland Security and Emergency Preparedness and the Louisiana Department of Insurance (DOI) said today.

With a home inventory list, an insurance agent can provide homeowners and renters with a policy that matches their needs. Also, when filing a claim, that inventory can provide proof of personal property loss.

According to Louisiana Insurance Commissioner Jim Donelan, keeping a good inventory of your personal things can be one of your most valuable investments. "As Louisiana's Insurance Commissioner, I have been saying every spring it is a good idea to keep an itemized inventory, including some kind of pictures, of all the contents of your home, and to keep a copy of that inventory in a safe place away from the house.

"After seeing firsthand what Hurricanes Katrina and Rita did to the homes of so many of our people, I will also say that everyone needs to have pictures of the outside of the home, the comprehensive inventory can be one of the most valuable investments in peace of mind we will ever make for ourselves and our families," Donelan added. "If a catastrophic event does disrupt our homes and their surroundings, a home inventory will at least eliminate the need to piece that information together in the aftermath of the event."

Source: Insurance Information Institute

Homeowners Insurance Losses By Cause, 2003-2007 (1)

HOMEOWNERS INSURANCE LOSSES BY CAUSE, 2003-2007 (1) (Percent of losses incurred)

(1) For homeowners multiple peril policies.  Excludes tenants and condominium owners policies.
(2) Includes vandalism and malicious mischief.
(3) Includes coverage for unauthorized use of various cards, forgery, counterfeit money and losses not otherwise classified.
(4) Less than 0.01 percent.

Source: ISO.

• After the March 14, 2008 downtown Atlanta tornado insurers may have to further consider tornado outbreaks that hit urban areas. That EF2 tornado was part of an event that caused $560 million in damages in Georgia and South Carolina, according to ISO/PCS. 

• Although tornadoes can occur at any time of the year, 83 percent of annual tornado activity occurs in March through September.

• Four tornado and severe thunderstorm events in the 2006-2008 period represent the insurance industry’s highest in terms of insured losses. 

• On average, tornadoes and related events have accounted for nearly 57 percent of all catastrophe losses per year since 1953. 

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