Why You Need a Home Inventory
Think of everything that you own in your home from your kitchen pots and pans, appliances, TV, computers, furniture, art, antiques, clothing and shoes, to garage tools – it all adds up! Homes are filled with memorabilia, daily essentials and items you work so hard for that give you a comfortable lifestyle. Now, imagine a worst-case scenario. You have a home fire, natural disaster or theft and lose your belongings. By having a list of your belongings, a home inventory can aid in the insurance process to save you time and headache during a time of devastation. It can help speed up the claim process as well as make sure you get the claim payment you deserve by not forgetting anything.
How to make a home inventory
There are different options to create a home inventory, just make sure it’s detailed and organized.
- Record a video/take photos – If you have a smartphone, this is an efficient way to narrate details while recording.
- Use an app – There are several home inventory apps with different functions based on your needs.
- Make an Excel spreadsheet – Organize your items and add in photos for a visual if possible.
You can organize your inventory by room such as kitchen, living room, garage or by item such as art, electronics, furniture.
Store your home inventory outside of the home or in a fireproof safe. Remember, if it’s lost with the home, it isn’t any help. Give a copy to a trusted family member or friend, or if it’s electronic store it in the cloud.
What should be included in a home inventory
Including as much detail as possible can benefit you come time to determine the value of an item.
- A description of the item, including brand name or make and model
- Estimated value of the item
- Purchase date
- Serial number
Focus on larger, valuable items such as art, antiques, collectables, jewelry, and electronics to start. Remember to include items in the basement, garage, or tool shed. Don’t forget to open cabinets and drawers too. It’s ok to group smaller items together, such as 5 pairs of dress pants or 10 yard tools (shovels, rakes, pruner, etc).
Your home inventory should be updated periodically to include any new items you’ve acquired or remove any items you’ve gotten rid of. It’s also a great check-in to review your homeowners or renters insurance to make sure you have enough coverage for your belongings and if you need to schedule any additional items that go beyond your limits, such as jewelry.
A couple hours of work today could benefit you in the future. Share your home inventory with your Rural Mutual agent to make sure your coverage fits your needs.
The information provided in external website links is for general informational purposes only and does not form any recommendation or warranty by Rural Mutual Insurance Company or its affiliates.