How to Create a Home Inventory
In the event that you need to file a claim, having a list of your belongings will make the process much easier. It might be daunting to think about how to create this list, so we’ve broken it down into a few easy steps to get you started.
- Choose an area to start – Selecting an easy smaller location is a great place to get started, such as a kitchen or a closet.
- Bring your tablet, phone or a camera along with a piece of paper and pen. – You can easily create a written home inventory, but pictures and making notes in the files can be very effective as well. Additionally, photos and notes that can be stored electronically and/or in the cloud are the safest method to ensure that in the event of a home fire or other damage that your home inventory data is not also destroyed.
Within each area of your home, you will want to gather photos and make note on them or in addition to them on quantity, recent purchase price, etc.
Use Technology to Easily Capture Your Home Inventory
A simple pencil and paper will do the job, but technology such as smart phones or tablets and even apps can make the process much easier. There are many mobile apps available to help you create and store room-by-room records of your belongings. Additionally, storing them in the cloud ensures that they are safe even when your home might not be.
Take Your Home Inventory in 2 Easy Steps!
In each room complete the following before moving to another room.
- Take Photos – Take a photo of the room, then take detailed photos of larger items, photos of the inside of every drawer or cabinet.
- Take Notes – In general, describe each item you record, make note of where you bought it, make and model if applicable, if it’s a rare or expensive item note how much you paid for it. For clothing or kitchen items, making note of how many of each item was in the photo if not easily shown.
The more detail you can provide to the claim adjuster will ensure that your claim is processed faster and easier, while getting you the money that you need to be able to rebuild.
Do I Have the Right Homeowners Coverage?
The next thing you should do with the photos from your new home inventory is to create a list of items and value and review your homeowner’s coverage with your insurance agent. As we accumulate items over time, this might be something you should consider evaluating with them annually at your renewal time. You’ll be surprised by home much value you have inside your home!
Keep Your Home Inventory Up-to-Date
Your home inventory is only useful if the data is accurate, and you can access it to provide the information to your insurance company in the event of a loss. Regardless of the medium you choose to create or capture the home inventory list, here are few things to keep in mind.
- Add significant new purchases to the list – Make is a habit to add the item information, receipts and photos to your home inventory as you purchase them. This is especially important if you are a collector of rare and expensive items that are likely to not be replaceable or the value easily found. This simple habit will also ensure your inventory is always up-to-date.
- Store a copy of your paper inventory outside your home – If you choose to keep a written inventory or physical pictures, keep a copy of this inventory in a safe place outside your home, like a safety box at a bank. This way if you have an event in the home and can’t get to your go box in time, you still have a copy for insurance purposes.
- Backup Digital Files – If you are not storing your backup on the cloud initially, you need to make a backup and put it in the cloud or have a copy on an external drive that maybe you store in an offsite location or a fireproof safe in the home.
- Understand your App – Technology is constantly changing. If you decide to take your home inventory via an app, make sure that your data in the app is backed up by the app developer so you can continue to access it should the app be sold or closed in the future.
Next steps: After you have taken your home inventory, talk to your agent to learn how much homeowners insurance you need.
Bancorp’s insurance experts are available to provide you with a free review and consultation. Contact Us – Bancorp Insurance Call 800-452-6826
Disclaimer: This content is provided for general information purposes and is not intended to be used in place of consultation with our agents.
