How long have you been living in your current home? Have you purchased new big tickets items or valuables since moving in? Have you recorded serial numbers of those items or added them to a home inventory list? Do you take the time to review your home insurance to reflect new items purchased or just simply auto-renew your policy each year?
If you have never created a list of your possessions or haven't recently updated it, now is the time. In the event of burglary, fire, or other disaster, would you be able to recall all of your possessions? Recording an itemized list not only helps you determine the correct amount of insurance you need, it also helps you to be able to more efficiently and quickly verify lost items and file a claim.
Where do I start?
Take a room by room approach. Do one room a day if that breaks it down to be more manageable.
Start with the larger items in the room, then look in all closets, cupboards and drawers.
Make it a habit to add items to the list as soon as you purchase them.
Remember to include any items you store outside of your home such as safety deposit items, boats or RVs. While they may not matter in the event of a disaster at your home, they are still your possessions.
What information do I collect?
Include basic information like the make, model and serial number of appliances and electronics. If you have a receipt or appraisal indicating value, keep it. Otherwise, try to remember where you bought it and how much it cost.
Group like items like clothing, shoes, dishes, etc. 5 pair of shoes, 16 plates, etc.
Precious items like jewelry, art or collectibles may require coverage other than basic home owners insurance.
How do I record the information?
A good old-fashioned list. Write down all the info that you have collected above in an organized list and you can add photos as discussed in point 2.
Photos. Take a picture of entire rooms as well as individual or grouped items. You can also take pictures of the model and serial numbers.
Video. Walk through your home and tape and describe the contents as you go room by room. Be as descriptive as possible.
Apps. There are now a wide variety of apps available for creating and storing your inventory. Here are some of 2019's recommended inventory apps.
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