Protect what you love: Create a home inventory to safeguard your belongings and simplify the claims process!

**Quick Tip:** How do I create a home inventory for insurance?

You can conduct a home inventory in various ways, such as through video, written lists, or photographs. Be sure to include all your valuables, from art and jewelry to firearms and collectibles. Don’t overlook items in the basement or attic.

Make digital copies and keep a hard copy in a secure location, like a safe deposit box at a bank.

Q: I’m updating my home insurance policy and came across the suggestion to create a “home inventory.” With so much in my home, I’m unsure where to begin. Can you help me understand what a home inventory typically includes and how to get started?

A: After a major incident that results in property loss, your stress levels can soar, making it one of the most challenging times in your life. Now, imagine having to remember every detail about each piece of personal property you may have lost. Stress, anxiety, and grief can cloud your memory, making it tough to ensure that you’ve captured every important item for your insurance claim. Having an accurate and up-to-date home inventory can serve as a valuable record of your belongings and can save you a great deal of heartache during such a difficult period.

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This information is produced on behalf of specific insurers seeking to obtain business for insurance either directly and/or indirectly associated with Rwamashongye Wealth Management headquartered in Vancouver, Washington.

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  • Here are a few effective methods for maintaining a thorough home inventory:

    Written Inventory: Start by walking through your home and compiling a detailed list of your belongings. For each item, record the purchase date, serial or model number (if applicable), and estimated value. If you have receipts, be sure to note them on your inventory and keep them filed.

    Photography: Enhance your inventory by taking photos of each item. Focus on the item itself as well as any important details, such as close-ups of jewelry settings or the artist's signature on valuable artwork.

    Video Inventory: For the most detailed approach, consider conducting your home inventory on video. This method allows you to capture and describe each item in real time. Use your smartphone to walk through your home, zooming in on key details like jewelry settings and serial numbers, and documenting any appraisals you may have. Uploading the video to the cloud ensures it's safely stored with a timestamp, which can be crucial for recordkeeping.

  • First, I recommend documenting every valuable item, which may include art, jewelry, firearms, electronics, sports equipment, heirlooms like grandfather clocks, china, and other collectibles.

    For each major item, include a description, serial number (if available), purchase date, and the purchase price or estimated/appraised value. Keep copies of receipts with your inventory, as any extra details can be helpful when working with your insurance company on a personal property claim.

    Don’t forget to check your attic and basement, as these areas often hold overlooked items. We tend to store things in boxes and forget about them. When inventorying, label the outside of each box with its contents and take pictures of the items inside.

    Once your home inventory is complete, remember to keep it updated by adding new purchases and periodically re-evaluating older items.

  • In addition to providing a record of your valuable items for insurance claims, a home inventory can be a useful tool for accurately assessing your property coverage needs. In my 20 years of helping customers with video inventories, I’ve observed that many people realize they aren’t comfortable with the level of personal property coverage they have. Over time, we tend to accumulate more belongings than our policies initially covered. Be sure to review your home inventory with your agent to ensure you have adequate coverage for all your important items.

    Also, consider how you store your inventory. If you choose a written inventory with photos, make sure to scan and save a digital copy or keep a hard copy in a safe deposit box outside your home. Your inventory won’t be helpful if it’s lost in a fire or another unexpected event along with your valuables.