Tips to Inventory Your Home

Your house is where you keep your most valuable possessions. If someone broke into your home, or if it were devastated by a fire or natural disaster, would you be able to remember everything under your roof? Having a household inventory to file an insurance claim can greatly help you through the claims process and get you back to normal as soon as possible.  

A home inventory for insurance also has the power to save you money. With it, you will know how much homeowners insurance to buy. And if you need to file a claim, a home inventory list will help you speed up the claims process and verify losses for your income tax return.

What Is a Home Inventory?

A home inventory is just what it sounds like: It’s a detailed list of everything in your home. Everything you purchase for your home goes on the list. 

Making a home inventory for insurance isn’t difficult, but it requires a little planning. If you’re wondering how to create a home inventory list, here are some steps that can help you.

Step One: Get Organized

To know what you have, you need to get organized — and that means spending a little time bringing order to your home. You’ll want to document things like the contents of your toolboxes and closets. Take a little time to tidy up. It’s easier to see what you have if your possessions aren’t in piles on the floor of your closet or crumpled up in a junk drawer.

Step Two: Bring Method to the Madness

Before you start making your home inventory list, plan your starting point. Map your course through your household and move room to room methodically. By plotting your approach in advance, you’re saving yourself time and decreasing your chances of missing important inventory items. For an insurance home inventory, remember to include your attic, garage and even detached structures, like your tool shed.

Step Three: Document Everything

The way you document your household inventory for insurance is important, and it can save you from confusion in the future. Think like a reporter and pull out your camera. Moving from room to room, take pictures — or even video with your own narration — as you go. Stay focused and make special note of your most valuable items (jewelry, antiques, electronics) and where you keep them. 

What Types of Items Belong on a Household Inventory List?

1. Furnishings (bookcases, cabinets, couches, tables, drapes, lamps)
2. Appliances (stove, washer/dryer, hair dryer, scale, vacuum)
3. Electronics (flash drives, gaming systems, tablets, chargers, computers, DVD collection)
4. Lawn and Garden (patio furniture, lawn mower, snow blower, hoses, bikes)
5. Antiques and Collectibles (baseball cards, dolls, signage, toys, stamps, coins, art)

What Details Should Be Recorded on the Home Inventory List? 

1. General Description: Provide a clear description of the inventory item.
2. Quantity: List how many of those items you own.
3. Purchase Date: Note when you bought each item. 
4. Cost: Specify how much you paid for each item on your inventory list.

Make the Process Painless with Household Inventory Apps

Consider using an app to help you catalog your possessions, note quantity, record original cost and create your home inventory. Apps can make the process simpler, though you’ll need to think about your needs. Do you want to scan bar codes and include serial numbers? What would be the best way to organize entries: alphabetically? Or perhaps by room? Do you want to be able to search for an item later? Remember, it can also be helpful to keep receipts for your items and note serial numbers for your gadgets.

Step Four: Secure Your Home Inventory List

You’ll be tempted to keep the inventory list in your home, but that’s probably not the safest place. You need to store the inventory list safely so you can access it in case of disaster or displacement. Create a private album on an online site like Flickr, Google Photos, iCloud or Dropbox and label it “Home Inventory.” Print your inventory and keep it in a safety deposit box. Whatever you do, don’t keep your only record of your possessions on your property!

Step Five: Update Your List Frequently

Revisit your list whenever you make a big purchase, or regularly check it every few months or years. You might even decide to make it a time to declutter and donate, sell or give away items you no longer need to keep around. The important thing is to keep the list current. Remember, an out-of-date home inventory could hold up the claims process at a time when that’s the last thing you need.

Be Ready

A home inventory can save you time and money if you ever need to file a claim. If you have questions on the best way to do a home inventory, or what you should include to make a claim easier to file, contact your Farm Bureau agent. They will be able to answer your questions and help ensure you have the right amount of homeowners insurance in place.