How to create a home inventory

Photo by Getty Images. Illustrations by bankrate

Whether you’re at home or own a condo or rent an apartment, you probably have a lot. And we don’t just have clothes, appliances and electronics, but we also have big ticket items such as kitchen utensils, picture frames, and even jewelry and artwork. Creating a home inventory can be daunting, but it can prove to be invaluable if you are upgrading or replacing your belongings, or if you need to file an insurance claim. Analyze the process of how to create a home inventory and how to make it faster and easier.

How to start stocking your home

A simple, step-by-step process will help you get started and go smoothly when creating your home inventory.

1. Go to one room at a time.
   It’s overwhelming to understand where and how to start the home inventory process, especially in a larger area with more. Instead, choose small, limited spaces like closets to allow the process to proceed without intimidation and heartache. Choose one small space and work at home.
2. File your recent purchases.
   If you look like you have too many closets, switch tactics and look instead to the latest purchases. Checking recent credit card statements is a good place to get started. Alternatively, if you emailed receipts, you can start by compiling them.
3. Let’s start with the basic details.
   There are some basic details that each item should be included in your home inventory, including a brief description of the items, prices, and other identification characteristics such as make and model and product numbers.
4. Take photos and videos.
   Whenever possible, use your phone or digital camera to capture photos of each item for easy reference. Walk around and record the video, explaining the details of each item. Close-ups of serial numbers or product numbers are also optional. Use a cloud storage program to catalog and store each photo or video using an easy-to-access, secure cloud storage program.
5. Document serial number.
   Additional details such as serial numbers and product numbers are useful reference points when submitting a request. Whenever possible, make sure to include these in your home inventory.
6. Classify your belongings.
   When recording each possession, use categories to condense and simplify it. For example, instead of listing each shoe you own, you simply add “7 pairs of sandals.” You can also place them together and take a photo if you don’t want to break down the details of each pair. Make a note of the most valuable items and list them individually.
7. Save the receipt.
   Your insurance company may require proof of purchase on your claim, so be sure to maintain and submit sales receipts, purchase orders, sales contracts and valuations.
8. Check for valuable coverage.
   If any of your belongings are of very high value, you should be aware of the additional value of your inventory. Discuss these items with your insurance agent and buy as much insurance as you need. These items may be listed individually and may be able to guarantee them based on value based on scheduled personal property compensation.
9. Update as needed.
   You also need to keep your inventory up to date when you add purchases and belongings to your collection, or replace old items with new models. Do this every time you make a purchase, or update your home’s inventory by placing reminders on your phone once a month or quarterly. Remember: The home inventory is most useful when it’s up to date.
10. Please give it more details.
    The more details are included in your home inventory, the better. For example, consider placing “diamond earrings” as well as “place a 1 carat round diamond stud in a white gold setting.” Provide the details will help you get everything you qualify from the policy.

Don’t forget to add these items to your home inventory:

Things you can’t see can be bothering you. Unfortunately, items that are easily forgotten can also affect the inventory of your home. These are some of the commonly overlooked in average home inventory.

1. electronics: This includes not only television, but other entertainment accessories as well. Add your sound system, speakers and gaming systems to your list and don’t forget about small electronic devices such as portable music players, cameras, earphones and more.
2. Items in storage: Don’t forget to consider the items you find in offsite storage. Some items in storage may be covered by the homeowner’s insurance contract, but you should discuss whether additional insurance is required with your agent.
3. furniture: Rugs, curtains and blinds are all items that need to be included in your home’s inventory. They can be quite expensive to replace as well as beautiful your home.
4. phone: Mobile phones, especially smartphones, can cost hundreds of dollars to replace them. Add your mobile phone or house phone to your home inventory.
5. musical instrument: The piano may stand out as an obvious item in stock, but other instruments such as the flute and violin should also be included.
6. Appliance: Appliances can become some of the most expensive items in your home. Stoves, fridges, microwaves, dishwashers, etc. are all important to add to your inventory.

Make your home stock easier

There are several tools you can use to make your home inventory process more manageable. Of course, you can document everything with pen and paper, but there is a risk of losing stock along with your belongings in events such as fires and floods. Creating your home inventory in digital format can be a better, faster, and safer option.

Fill out your home inventory worksheet and store it in the cloud is one easy way to create and maintain your home inventory despite the growing collection of property each year.

Home Inventory Apps and Technology

Thanks to today’s digital age, several apps and software platforms can help you create your home inventory. From capturing and saving photos to organizing things by category, these are some of the best apps we have found that might help your home inventory.

Rental help

If you feel overwhelmed or don’t have time to stock your own home, there are experts who can help. Professional stock experts are generally available in many locations and provide an experienced touch to your home inventory.

You can find the right experts to help you stock your home with the National Association of Inventory Inventory Professionals. Be sure to look for client reviews and ask your provider about how to best customize your process and service.

What to do after creating your home inventory

Once you have completed your home inventory, you will need to make a digital and physical copy. Store your digital copy on your hard drive, in the cloud, or elsewhere. It can be accessed remotely. If you lose your home due to a natural disaster, you must be able to obtain a copy of the home’s inventory.

You can also send a copy of your home inventory to your insurance agent. That way, if you need to file a claim, some of the legwork has already been done. To do this, you can send a physical copy, an email attachment, or a shareable link. If you have a copy of your home’s inventory on the premises, keep it safe with a fireplace.

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