On of the smartest things your church could ever do is completing a personal property inventory of your church.
In the unexpected event that a disaster strikes and your church files an insurance claim, you might have to provide a church inventory to highlight the damaged items. Think about it, could you list and value the major items in the sanctuary from memory? Could you list the valuables in the church nursery or kitchen? What about the personal property of others that are stored in the church?
If your church suffers a loss, a detailed inventory not only helps you determine adequate amounts of coverage for personal property before a loss, but it also speeds the insurance claim process.
I also have Inventory Form Instructions available to make sure you are doing your church inventory correctly to secure your church property.
There should be two copies (original and working copy) of your inventory stored at separate locations. The master or original copy should be stored in a safety (fire-proof) deposit box or somewhere where it could not unexpectedly get destroyed in some way. The working copy on your church or business computer hard drive may be kept at the church with deletions or additions made as necessary.
When was the last time if ever did your congregation do an inventory? Usually the answer I get is NEVER. Well, how in the world can anyone tell you how much to purchase if you Don't know? Had one congregation go from a $40,000 limit to a $140,000 limit based on just a couple of comments: A $20,000 computer/printer the library contained more than $38,000 in replacement cost and finally - finished product of the print shop which was stored in a room. These three items were valued by elders at just over $100,000. With a serious loss the real deductible would have been all of that amount.
Now, let me ask again please: When was the last time?
Both copies of your inventory should be updated at least once a year.
There are several different types of church or business inventory templates or forms free on the previous page. Just pick out the form that you need along with these instructions and get started.
Preparing an inventory of church contents is clearly one of the best ways to obtain better value from your insurance coverage. The contents of your property have great accumulated value as personal property. In the event that your inventory is lost, stolen or destroyed, an inventory helps to validate the existence of items and the cost to replace them. Questions will arise such as:
These are just a few questions out of many that will arise in the unexpected event of your inventory loss.
Below are forms that can be used for accomplishing the inventory. Also download and keep the Instructions. Do a websearch for "Asset Tags" to find a supplier who can provide you with pre-numbered tags to place on items such as tables, chairs, bookcases, etc.
Phone: (936) 202-2661