Doing A Home Inventory

If your home is burglarized or destroyed by a fire or some other disaster, would you be able to make a list of all your belongings from memory? Odds are, the answer is no. That’s why taking a home inventory is one of the most important things you can do. First of all, it helps you make sure you have the right amount of insurance protection. Even more important, having an up-to-date home inventory is the best way to ensure you’re paid quickly and fairly if you have a claim.

The idea of doing a home inventory can be intimidating – but it’s a task that’s well worth the effort. Here are some tips to get you started.

Choose your method. There are a number of ways to do an inventory. You can videotape it, do a written inventory with photos or use one of a number of new home inventory computer programs.

Go room to room. Don’t forget the garage, attic and basement. Make a list of anything you’d want replaced if it was destroyed. To keep the task manageable, consider doing a room a week.

Update your inventory on an annual basis. Add new items and remove items you no longer have. Be sure to include any improvements you’ve made, such as a kitchen renovation or new addition.

Store your inventory in a safe place away from the house. If you don’t have a safety deposit box, consider storing copies with a friend or family member.