Creating a Home Inventory Catalog

Creating and updating an inventory of personal possessions is one of the best ways to make the most of your homeowner’s or renters insurance, and makes filing a claim easier and more efficient. It can help policyholders purchase the right amount of coverage and select the best type of insurance for their needs, and can also substantiate financial losses for tax purposes or when applying for financial assistance following a catastrophic loss.

Policyholders can start with a simple, step-by-step process when beginning to take an inventory of their personal belongings:

  • Find an easy place to start so as not to become overwhelmed, like a small closet in the home. Another simple place to start is to begin by filing your most recent purchases.
  • Start with basic details, like a description of the item and the price, and include the model or product number when possible.
  • Create a digital catalog of items for easy reference. Take photos of your items or take a walking video tour of each room of your home. Store the photos and videos in a secure digital file.
  • Document serial numbers for larger and more expensive items.
  • When documenting your belongings, use categories to condense and simplify.  As an example, “ten sweaters” and “twenty pair of jeans.” High-value items should be listed individually.
  • Insurance carriers may request proof of purchase if you have to file a claim, so filing sales receipts, purchase orders, sales contracts, and appraisals in a fire-proof safe or storage container is recommended.
  • Discuss high-value items with your insurance agent. These items may require additional property coverage and may need to be listed separately on a home inventory list. 
  • Remember to add the following items to your inventory: electronics, items in storage, home furnishings, appliances, and phones.
  • While you can document your home inventory list with pen and paper, this list can get lost or damaged during a catastrophic event. Creating a secure, digital file is recommended.
  • As you continue to purchase new items in the future, set reminders for updating your home inventory list, whether once a month, once a quarter, etc.

The agents at Gill Insurance are available to help our clients ensure they have the most homeowners, renters, and personal property insurance for their needs at the best rates available. Contact us today to get started! (843) 388-5021.