A complete inventory is important if your home has been damaged by a natural disaster, fire or theft. You can get reimbursed for your property if it is damaged in a fire, natural disaster or theft. It also can help you determine if your homeowner's insurance is adequate.
What is a House Inventory?
Home inventories are lists of all the items you own, such as furniture, electronics, appliances and other personal belongings. It should be in a paper-based or digital format. Include important details like date of acquisition, model, and serial numbers. Update it regularly to reflect important purchases.
How should you inventory your home?
The house inventory is essential for all homeowners, but especially those who own valuable or high-end items. You should create a house inventory every year and update it whenever you make major purchases, like a new TV or computer.
A current inventory is necessary because insurance policies often have limits to what they will pay. For example, if you own valuable jewelry or art work, you may need to insure these separately from your homeowners policy.
Making a Home Inventory can be an overwhelming task
It's intimidating to create either a digital or a physical inventory. To make it easier to manage, it is a good idea for you to break your inventory down into smaller sections.
If you want to create a digital home inventory, for example, you should walk through each room of your house and take pictures of every item. You'll be able to quickly find items and remember their location.
It is also a great idea to add any receipts you have or other documentation for each item. You can easily prove the worth of your belongings if you ever need to make an insurance claim. It will also help your agent and broker determine the value.
Don't Give Up if You Can't Finish Right Away
After you've completed the initial process, it can be tempting to give up and move on with your life. But if you stick with it and don't give up, you'll have an accurate inventory of your belongings in no time.
Start in the kitchen, then work your way to the rest of the house
The best way to start a home inventory project is by tackling a room or area that has been organized. You can start with a room or area that is organized, such as a wardrobe, chest of draws or cabinet.
Don't fear throwing out or donating anything you no longer need or use. This can be a great way to declutter and free up space in your home while making sure you're only storing what you really need.