How to Make a Home Inventory for Insurance Claims

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Why do you need a home inventory checklist? Let's take a look and find some help along the way to get you started.

a couple goes over their home inventory checklist

Starting a Home Inventory Checklist

It’s always in your self-interest to have a home inventory checklist for insurance claim purposes.

Your home is one of the biggest investments you will ever make, and it’s essential to protect it. In the event of a disaster, fire, or theft, a home inventory can help you get back on your feet. From filing a claim to compiling a shopping list, it goes miles with relatively little effort.

So, what is a home inventory? A home inventory is a detailed list of all your possessions and their value, but there’s more to it than that. Let’s dive in.

Table of contents

a woman sits at a laptop with a pad, doing a home inventory checklist

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The Benefits of a Home Inventory

A home inventory is a crucial document that can help you protect your home and its contents.

It can assist in calculating the replacement value of your belongings in case they are damaged or stolen. With a home inventory, you can easily provide your insurance company or insurance agent with a list of your possessions and their value, making it easier to file an insurance claim. It can also help you determine how much insurance you need to cover all your belongings.

Having a home inventory can also aid in estate planning. By having an updated and detailed record of all your assets, you can better plan for the distribution of your belongings to your heirs in the event of your passing.

Moreover, a home inventory can serve as a tool for decluttering and organizing your home. As you create your inventory, you will likely take stock of items that are no longer needed or wanted, allowing you to free up space and simplify your life.

Another advantage is that it can help you keep track of the condition of your belongings. By periodically updating your inventory and noting any damages or wear and tear, you can better maintain and repair your possessions, potentially extending their lifespan and saving you money in replacement costs.

Overall, a home inventory can provide peace of mind knowing that your possessions are documented and protected. It is an easy and straightforward way to safeguard your assets and ensure that you are adequately covered in the event of an unexpected loss or damage.

a couple sit on a couch and go over a home inventory list

Why Do I Need an Inventory of My Home or Apartment?

Disasters

Disasters can happen at any time, and it’s important to be prepared.

A home inventory can help you prepare for the unexpected. If your home is damaged or destroyed, you can use your home inventory to prove what you owned and how much it was worth.

It can also help you remember what you owned if your memory fails you.

Moving

In addition to preparing for disasters, having a home inventory can also be useful in a variety of other scenarios.

For example, if you’re moving, a home inventory can help you keep track of all your belongings, making it easier to pack and unpack.

Similarly, if you’re renting your home or apartment, a home inventory can serve as a record of the condition of your belongings before you move in and after you move out, potentially helping you get your security deposit back.

Insurance

Furthermore, a home inventory can be beneficial for home insurance claim purposes.

By documenting all your possessions and their value, you can ensure that you have adequate insurance coverage for your belongings. In the event of a claim, having an up-to-date home inventory can also make the claims process smoother and faster.

Insurance companies typically require proof of ownership and value for any items being claimed, and a home inventory can provide that information.

Estate Planning

A home inventory can also be a valuable tool for estate planning.

By keeping an inventory of your assets, you can better plan for the distribution of your belongings to your heirs.

This can be particularly important for items with sentimental value or high monetary value.

Security

Finally, a home inventory can help you identify any gaps in your home security.

As you document your belongings, you may realize that you need to take additional measures to protect certain items or areas of your home.

For example, you may decide to install a home security system or purchase a safe to store valuable items.

What Should Be Included in a Home Inventory List?

A home inventory list should include everything you own, including furniture, appliances, electronic equipment, jewelry, and other valuable items. Recent purchases should then go down as they’re made.

You should also include a description of each item, the date you purchased it, its value, and its serial number if it has one. If possible, saving store sales receipts, even digitally, can come in clutch and could get your insurance claim settled faster.

It’s also important to take pictures or videos of your possessions and include them in your inventory.

Here are some tips on what to include:

  1. Create a room-by-room checklist: Begin by creating a checklist for each room in your home. This will help you organize your inventory and ensure that you don’t miss anything.
  2. List all items: Record all items, including large furniture pieces, appliances, electronics, household items, and personal belongings such as clothing, jewelry, and collectibles.
  3. Note the purchase date and cost: It’s important to include the date you purchased each item and the cost. This will help you calculate the value of your possessions and determine the amount of insurance coverage you need. Include sales receipts for that extra level of proof.
  4. Include serial numbers and model numbers: Note the serial and model numbers of electronics, appliances, and other valuable items. This information will be helpful in the event of theft or loss.
  5. Take photos and videos: To supplement your inventory list, take photos or videos of your belongings. This will provide visual proof of your possessions in case your inventory list is lost or destroyed.
  6. Update your inventory regularly: Your inventory list should be updated regularly, especially after major purchases or changes in your home. Consider setting a reminder to update your list every six months to ensure that it remains accurate and up-to-date.
  7. Keep a copy in a safe place: Make sure to keep a copy of your inventory list in a safe place, such as a fireproof safe or a secure online cloud storage service. This will ensure that you can access your list in the event of a disaster or emergency.

By including all the necessary information in your home inventory list, you can better protect your house and your possessions and be prepared for any unexpected events.

a woman sits at her laptop doing a home inventory checklist

How Do I Create a Home Inventory?

Creating a home inventory may seem like a daunting task, but it’s a simple process that can be broken down into the following steps:

  1. Start by making a room-by-room record: Begin by creating a list of all the rooms in your home. Then, make a checklist for each room that includes all the items in the room.
  2. Record all items: Go through each room and record all items, starting with large furniture pieces and moving on to smaller items. Be as detailed as possible and include the brand, model, and serial number of appliances and electronics.
  3. Note the purchase date and cost: Record the purchase date and cost of each item. If you don’t remember the exact cost, estimate it to the best of your ability.
  4. Take photos and videos: To supplement your inventory list, take photos or videos of your belongings. This will provide visual proof of your possessions in case your inventory list is lost or destroyed.
  5. Store your inventory list in a safe place: Keep a copy of your inventory list in a safe place, such as a fireproof safe or a secure online cloud storage service.
  6. Update your inventory regularly: Your inventory list should be updated regularly, especially after major purchases or changes in your home. Consider setting a reminder to update your list every six months to ensure that it remains accurate and up-to-date.

There are also several tools available that can help you create a home inventory, such as inventory software and apps. These tools can make the process quicker and more streamlined by allowing you to easily add items, attach photos, and generate reports.

Creating a home inventory is an important step in protecting your possessions and being prepared for any unexpected events.

By following these simple steps, you can create a comprehensive inventory that will give you peace of mind and ensure that you are adequately covered in the event of a disaster or emergency.

When to Make a Home Inventory List

The best time to make a home inventory list is as soon as possible. It’s never too early to start taking inventory of your belongings, especially if you have just moved into a new home or apartment.

However, there are certain events that should prompt you to create or update your home inventory list, including:

  1. Moving to a new home: Moving is a great time to take inventory of your belongings, as you are already going through everything to pack and move. Take the opportunity to create a comprehensive inventory list of everything you own.
  2. Major life changes: Major life changes, such as getting married or having children, can significantly increase the value of your possessions. This is a good time to create or update your inventory list.
  3. Renovating or remodeling your home: Renovating or remodeling your home can change the value of your possessions and may require you to adjust your insurance coverage. Take inventory of your belongings before and after the renovation to ensure that you have adequate coverage.
  4. After a major purchase: If you make a major purchase, such as a new piece of furniture or a high-end appliance, make sure to add it to your inventory list and adjust your insurance coverage accordingly.
  5. Annual insurance policy renewal: Your home inventory list should be updated annually when you renew your insurance policy. This will ensure that your coverage reflects any changes in the value of your possessions.

By creating or updating your home inventory list regularly, you can ensure that you are adequately covered in the event of a disaster or emergency.

a mother and son go over a home inventory list

The Easiest Way to Start a Home Inventory

The easiest way to start a home inventory is to use a home inventory app or software. There are many options available, both free and paid, that make the process quick and easy. Here are some steps to get started with a home inventory app or software:

  1. Choose an app or software: There are many options available, such as Sortly, Encircle, and Magic Home Inventory. Choose one that suits your needs and budget.
  2. Download and install the app or software: Once you have chosen an app or software, download and install it on your computer or mobile device.
  3. Create an account: Most apps and software require you to create an account to use their services. Follow the prompts to create your account.
  4. Start adding items: Once you have created your account, start adding items to your inventory. Many apps and software allow you to add items by scanning their barcodes or taking photos.
  5. Include all relevant information: For each item, include all relevant information, such as the purchase date, purchase price, and serial number. You may also want to include a description and photo of the item.
  6. Save your inventory: Make sure to save your inventory frequently to avoid losing your progress. Some apps and software also allow you to save your inventory to the cloud for added security.

Using a home inventory app or software can save you time and make the process of creating a home inventory much easier. Additionally, many apps and software have features that allow you to easily update your inventory as needed, such as when you make a new purchase.

Don’t Forget to Add These Items to Your Home Inventory

When creating a home inventory, it’s important to include all of your possessions, big or small. Here are some items that people often forget to include in their home inventory:

  1. Jewelry: Jewelry can be expensive, and it’s important to include it in your home inventory. Make sure to include all of your pieces, including earrings, necklaces, bracelets, and watches.
  2. Artwork: If you have any artwork, such as paintings or sculptures, make sure to include them in your home inventory. Artwork can be valuable and may require additional insurance coverage.
  3. Electronics: Electronics can be expensive and should be included in your home inventory. This includes items such as TVs, computers, and gaming consoles.
  4. Musical instruments: If you own any musical instruments, such as a guitar or piano, make sure to include them in your home inventory. These items can be expensive to replace.
  5. Sports equipment: If you have any sports equipment, such as a bicycle, golf clubs, or skis, make sure to include them in your home inventory. These items can be expensive and may require additional insurance coverage.
  6. Collectibles: If you collect any items, such as coins or stamps, make sure to include them in your home inventory. These items can be valuable and may require additional insurance coverage.
  7. Clothing and accessories: Clothing and accessories, such as handbags or shoes, can add up in value. Make sure to include them in your home inventory.
  8. Appliances: Appliances, such as refrigerators, ovens, and washing machines, should also be included in your home inventory. These items can be expensive to replace.

Remember, the more comprehensive your home inventory is, the better prepared you will be in the event of a disaster or emergency.

a man sits at a notepad and laptop and does a home inventory

Home Inventory Apps and Technology

Home inventory apps and technology can make the process of creating and managing a home inventory much easier. Here are some popular options:

  1. Sortly: Sortly is a popular home inventory app that allows you to easily create an inventory of your belongings. You can add items by scanning barcodes or taking photos, and the app allows you to categorize items and add detailed information.
  2. Encircle: Encircle is another popular home inventory app that allows you to create an inventory of your belongings. The app allows you to add photos, descriptions, and values for each item, and you can also create reports and export your data.
  3. Magic Home Inventory: Magic Home Inventory is a free home inventory app that allows you to add items and categorize them by room. You can also add photos and receipts, and the app allows you to export your inventory data.
  4. Google Sheets: Google Sheets is a free spreadsheet program that can be used to create a home inventory. You can create a template with columns for each item, and add information such as purchase date, price, and serial number.
  5. Insurance company apps: Some insurance companies offer their own home inventory apps, such as State Farm’s HomeIndex app. These apps may allow you to easily create an inventory and provide it to your insurance company in the event of a claim.

In addition to apps, there are also smart home technologies that can assist with home inventory management.

For example, smart security cameras can capture footage of your belongings and track when they are moved or taken.

Smart home assistants, such as Amazon’s Alexa, can also be used to manage your home inventory by adding items verbally or through compatible apps.

Keep Your Home Inventory List Safe and Accessible

Once you’ve created a home inventory, it’s important to keep it safe and accessible in case you need to reference it. Here are some tips on how to keep your home inventory list safe:

  1. Store it digitally: Consider storing your home inventory digitally, either on a secure cloud-based service or on an external hard drive that’s kept in a secure location. This will help protect it from damage or loss due to a disaster, theft, or other unforeseen event.
  2. Keep a physical copy: While it’s important to store a digital copy of your home inventory, it’s also a good idea to keep a physical copy in a safe or other secure location. This can serve as a backup in case your digital copy is lost or inaccessible.
  3. Use a secure password: If you store your home inventory digitally, make sure to use a strong, unique password to protect it from unauthorized access.
  4. Update it regularly: Your home inventory should be updated regularly, especially after you acquire new possessions or get rid of old ones. This will ensure that your inventory remains accurate and up-to-date.
  5. Share it with your insurance company: Make sure to share your home inventory with your insurance company so that they have a copy on file. This will make it easier to file a claim in the event of a disaster.

Remember, the purpose of a home inventory is to provide you with peace of mind and help you protect your belongings. By keeping your inventory safe and up-to-date, you’ll be better prepared to handle any unexpected events that may arise.

a woman sits with a pen and pad, writing a home inventory

Photos vs. Video: Create a Digital Home Inventory List

When creating a digital home inventory list, you have the option to use photos or video. Here are some considerations to help you decide which method is best for you:

Photos:

  • Pros: Photos can be easily taken with a smartphone and provide a clear picture of individual items. You can also zoom in on details or specific features of an item.
  • Cons: Photos may not capture the full scope of a room or space. You may need to take multiple photos from different angles to get a complete picture.

Video:

  • Pros: Video can provide a complete overview of a room or space and capture all items in one take. You can also narrate the video to provide additional details about each item.
  • Cons: Video may not capture specific details or features of individual items as well as photos. It may also be harder to locate a specific item within a video.

Ultimately, the best method for you may depend on your personal preferences and the size and layout of your home.

You may also choose to use a combination of both photos and video to create a comprehensive digital home inventory.

Whichever method you choose, make sure to store your digital inventory in a safe and secure location.

Conclusion

a couple goes over their home inventory checklist

In conclusion, a home inventory is an essential document that can help you protect your home and its contents.

It’s important to have an inventory in case of a disaster or theft, and it can assist in calculating the replacement value of your belongings.

To create a home inventory, start by going room by room and making a list of everything you own. Take pictures or videos of each item and include them in your inventory.

If you have a home inventory, and those items are covered under your homeowners insurance policy, you will be very thankful.

When in doubt about if your home inventory is sufficient for claims or anything else related to an insurance matter, you should consult a licensed insurance agent. Looking for one? We are one of the fastest-growing Allstate agencies in the nation and would love to help you with your insurance needs.

Just fill out the form in the footer below and we’ll be with your ASAP.

Andrew Filar
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