How to Complete a Home Inventory

How to Complete a Home Inventory

At some point in your life, you will probably be faced with the prospect of moving. It’s an exciting time, but it can also be a scary time because your home is filled with years upon years of memories—and stuff. You need to know what you have and have a way to quantify that for your insurance carrier.

Sell it, donate it, or pass it down to your children, you still need to make distinctions that help you purchase effective homeowner’s coverage. If you are looking to complete a home inventory, use these tips to make the right choices and protect your belongings thoroughly.

Why Complete a Home Inventory?

A home inventory serves several purposes when you move:

• You know what you have so that you know it made it to the new house
• You know the value of everything in your home
• You have an inventory you can use during recovery after a storm

While no one wants to think of the worst, it’s best to be prepared. Plus, a full inventory of your home is easy to update as you add and subtract items from the space. Plus, you can assign a value to these items, attach receipts to the inventory, or have these items appraised when necessary.

So, if something happens to the house, you can easily explain to you’re adjuster what was in the house, what was lost, and the value of all those items. Without this information, you’re left to guess. Plus, you can update your coverage each year using this information, especially as the price to replace certain items will always rise.

For some, this may also be helpful in estate planning, especially if you want certain items to go to particular individuals. At the very least, it’s a good place to start.

How to Complete a Home Inventory

The best way to complete a home inventory is to start by:

• Listing the key items in each room of your home. You can, effectively, work from large to small—by room. These items typically include furniture, appliances, collectibles, and artwork.
• Then, you can begin to list the contents of each drawer and drawer space.
• Finally, you will want to list the contents of each cabinet and shelf.

As you can see, the inventory for each room will be quite extensive, but it will be easy to skim because the list has categories that break down the items into easy to digest chunks.

For every item, assign the value you paid, it’s appraised value or research the approximate cost of the item.

Reach out to Our Team at DSI for Help With Your Home Inventory

There are many reasons to complete a home inventory, but no matter the purpose, it’s best to start today, Making plans for the future, protecting your belongings, and speaking the language of insurance carriers will always work to you’re advantage. Reach out to our team at DSI for more information on home inventories and homeowner’s insurance at any time. We’re happy to answer your questions and help you save money.