Tips for Making a Home Inventory
A home inventory, as the name would suggest, is a list of all of a homeowner’s possessions kept inside the house. At first thought, taking record of almost everything you own may seem overwhelming. Nonetheless, it is important to do so and it doesn’t have to be hard. Keep reading to understand why you need to keep inventory, and save yourself some stress when you do.
Why You Need an Inventory
By making a home inventory, you are protecting yourself in the event that home or renter’s insurance needs to be used. If your property is damaged by a natural disaster or your home is burglarized, having a home inventory handy will speed up your insurance claim and maximize your payout because your belongings are already accounted for. The same is true if you need to file a claim with your home warranty. Your claims process will typically be much easier and go much smoother if you have an updated record of your appliances with the make, model, and year.
How to Make a Home Inventory
Making a home warranty in 2022 is easy thanks to all of the technology available. If you have a smart phone, the simplest way is to download a mobile home inventory app and snap photos to upload to the app. Taking a long video walking through your home is also sufficient. For you old-school homeowners, you can make a written list- just be sure to describe each item in detail including when you acquired it and the estimated value.
Once you’ve determined how you will compile your list, focus on how you will organize it. Many homeowners categorize their belongings either by room or by item category. For example, you can break up your list by living room, dining room, kitchen, etc. Or, you can itemize things like technology, furniture, jewelry, and so on. There’s no “correct” approach here- as long as it’s organized in a way that makes sense to you.
Keep it Fresh
Now that you have your home inventory ready and all of your belongings accounted for, remember to keep it updated. An inaccurate or incomplete list is no good to you as a homeowner, or to your insurance agency. Remember, it’s always easier to add an item or two to an existing list rather than adding dozens at a time after items have accumulated.