5 Simple Tips to Help You Create A Home Inventory

In most homeowner policies, when disaster strikes, the policyholder will need to make a claim that includes any items that have been damaged or lost. It is important that this claim includes the model number and the brand or design of each item so that you receive the correct compensation — and having an inventory list will help make the claims process easier.

On average, 52% of homeowners say that they have prepared an inventory list of their possessions to help document potential losses. That means 48% of homeowners don’t have a list of their valuables in the chance that an unexpected disaster occurs. Without a home inventory list, your insurance agent may not reimburse you for the correct amount when an item is damaged, lost, or stolen.

For many, protecting your assets from unexpected disasters is a necessity, and having a home inventory is a way to make the claims process a bit easier during a chaotic time. Your home inventory should include the model numbers, serial numbers, brands, quantity, receipts, and more — the more information you can gather, the better your situation will be. Here are some tips from your local Doherty Agent that you can use to create an inventory list for all of your home items, so that if the unexpected should happen, you’ll receive the proper reimbursement.

1. Take photos or videos 

• If creating a written home inventory list seems overwhelming, we would recommend taking pictures of your household items or taking a video of each room. For each photo, make sure to focus on the brand of the item in the picture. If you choose to record a video, you can mention relevant information in the video. This would include the brand of the item and how long you have been in possession of it. We also suggest taking photos of any receipts so that you know the purchase date and price of the item.

1. Go room by room 

• When creating your home inventory list, create a list of items based on each room. If you have the time, describe each item and include the quantity and serial number. To make the process easier, we recommend starting at the bottom of your house and working your way to the top floor. 

1. Start with your most expensive items

• If you don’t have time to complete an inventory of your entire house at once, we recommend documenting the most valuable items first. Expensive items, such as computers, cameras, and televisions should be documented first, as well as anything else that may be relatively expensive like power tools, fine china, and designer clothes.

1. Make a copy

• Keep multiple copies of the inventory that can be accessible from anywhere. It may be helpful to email yourself, and your insurance agent, a copy of your inventory list. If you choose to also do a video that showcases your inventory, make sure to share the video as well. 

1. Update your inventory regularly 

• Remember — it’s also important to update your inventory periodically, especially after making a major purchase or receiving an expensive gift. When you update your inventory list, remember to send a copy to your insurance agent.
  

We hope these tips help you create a home inventory. If you have any questions or would like to learn more about your homeowners policy, contact Doherty Insurance today to learn more.