Home Insurance and Home Inventory

Your guide on how to take an inventory of your belongings

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Written By Joel Kranc

Updated November 15, 2023

What is a home inventory?

Home inventory is a list of the personal belongings in your house. Lists would include the item, its value, receipts, and a brief description of each item.

What are the benefits of having a home inventory?

The benefits of having a home inventory help you to choose the right amount of coverage you may need for your belongings. Also, having a record will help you retrieve losses simply by knowing what you own.

Insurers will see it as proof that you actually owned the items in your claim and it prepares you in case of any kind of loss, which can happen at a moment’s notice. Better to be prepared, just in case.

Not having an inventory will make it harder to prove your claims and you may also have forgotten about all your belongings if they’ve been tucked away for some time. A comprehensive list solves those problems and can act as an official record of your belongings.

What needs to be included in a home inventory?

Home inventories should include all hard copies and digital copies of item logs. Photos are also important to have a visual record of items as are videos. If possible, break down the items by room, include date of purchase and keep especially detailed records of high-ticket items.

One of the best ways to log items is by using spreadsheet software such as Excel.

Frequently asked questions about home inventories?

Why is a home inventory a good idea?

If a claim is necessary, a home inventory will provide proof to your insurance provider regarding the possessions you are making claims on. It will also act as a reminder to you in case you had forgotten about certain items.

It also helps you to determine the best insurance coverage you will need for your personal property.

When should I make a home inventory?

Home inventories can be made at any time. However, if upgrades are made to the house or expensive items are purchased, it would be wise to update your home inventory at that time.

When should I update my home inventory list?

It’s a good idea to take stock of your inventory list about once a year and make changes if necessary.

Do I need to submit a copy of my home inventory list to my insurance provider?

No. The list is for your personal records and to serve as an aid in the event you experience a covered loss of personal property. You’ll need it when you are filing a claim.

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