When disaster strikes, the last thing you want to worry about is proving the worth of potentially damaged or lost items. With this in mind, a comprehensive home inventory can be a critical lifeline in the aftermath of a catastrophic event, making the insurance claims process smoother and more likely to result in you recouping your losses.
8 Steps to Creating a Comprehensive Home Inventory
Here are some tips and best practices for homeowners to document their belongings and create a detailed home inventory.
- Establish a plan. While creating an inventory may seem daunting, breaking it down room by room can make it more manageable. Consider devising an overall strategy, such as going floor by floor or starting with your most expensive or sentimental items.
- Be thorough. It’s important to document everything, no matter how insignificant it may seem. This includes furniture, electronics, appliances, clothing and even smaller items like books and kitchen utensils. Record each item’s description, purchase date, value and serial number if applicable.
- Use technology. There are numerous home inventory apps available to help you catalog your belongings, store photos and even save digital receipts. Alternatively, you can use a simple spreadsheet or a video walkthrough of your home, narrating the details of each item.
- Retain receipts. Whenever possible, keep receipts of your purchases. This can provide proof of ownership and help establish the item’s value. Credit card statements or bank records may qualify as acceptable proof of purchase for items you no longer have receipts for.
- Keep it updated. Your home inventory should be a living document that gets updated regularly. Whenever you make a significant purchase, add it to your inventory. Similarly, if you sell or donate an item, remove it from your list.
- Protect your inventory. Once you’ve created your home inventory, it’s crucial to store it safely. Keep a physical copy in a safe deposit box or a fireproof safe. Consider storing a digital copy in the cloud to access it from anywhere.
- Enlist a professional. Consider having a professional appraisal of your home. This can provide a detailed description and accurate value of structural elements and built-in features, like cabinetry, that aren’t easily accounted for in a standard inventory.
- Look outwards. Your home inventory should also include items outside your house. This includes patio furniture, grills, and gardening equipment. If you have a shed or a garage, document their contents as well.
We’re Here to Help
At Simple Lane Insurance Agency, we’re committed to helping homeowners and families secure optimal home insurance. Visit our website or call 619-777-7067 to learn more.
This blog is intended for informational and educational use only. It is not exhaustive and should not be construed as legal advice. Please contact your insurance professional for further information.