Home Inventory 101: How to Document Your Belongings for Insurance
If your home and belongings are damaged, destroyed, or lost because of a bad storm, fire, or theft, do you really want to rely on your memory to make a list of things you lost when filing a claim?
You’ll save yourself and your loved ones a lot of frustration if you already have a detailed home inventory for insurance. Home inventory can help you file a claim and receive the payout faster while reducing disputes.
What Is a Home Inventory?
A home inventory is documented proof of your personal belongings. More than a list of “stuff,” a detailed home inventory includes information that validates proof of ownership, value, and condition for each item, including:
- Age
- Photos or videos of the item
- Model number or serial number
- Colors and materials
- When and where purchased
- Cost at the time of purchase
- Current retail value
- Appraisals (art, jewelry, collectibles, etc.)
- Warranty and owner manual
In addition to being prepared for the unpredictable, creating and updating your home inventory could alert you to high-value items that you should consider covering in your insurance policy.
How to Make a Home Inventory List for Insurance Purposes
We’re talking about possibly hundreds of items, so approach your home inventory strategically.
- Choose the right tool. Google Sheet? Excel? A mobile app? Use a tool you feel comfortable with, and make sure you back up your home inventory in the cloud so it’s safely stored off-site.
- Record all relevant details listed previously. You’re basically creating a profile for each high-value item and creating a full list of everyday items in your home inventory. Add as much documentation as possible with invoices, receipts, emails, order numbers, etc.
- Take multiple photos and videos. Take photos and videos from multiple angles and include unique identifiers and features. Record yourself describing certain items as you shoot videos to add valuable context.
- Check everywhere. This is the time to go through every corner of the garage, attic, closets, and under the beds. You’ll probably uncover valuable items you had forgotten!
Creating a home inventory for insurance may feel overwhelming at first. That’s normal. Cleaning out things you no longer want and need before you get started will make things easier. Then start small with a single closet or cabinet. Get used to the process before you move on to larger closets.
If you’d like to review your policy and discuss adding a rider to cover certain valuables, schedule an appointment with Stanton Insurance Group today!
