You should keep an inventory of everything you own, especially if you are a homeowner. It can be used to get reimbursement if you have property damaged by natural disasters, theft or fire. It will also allow you to assess whether your homeowners insurance is adequate.
What is a Home Inventory?
It is a list that includes everything in your home, including electronic devices, personal items, and appliances. It can either be on paper or in digital format, and it should include all important information such as date of purchase, model number and serial number. The document should also be regularly updated to reflect any major purchases that you've made.
How to properly invent your home
A house inventory is an essential tool for homeowners, especially if you own high-end or valuable goods. You should create a house inventory every year and update it whenever you make major purchases, like a new TV or computer.
You should keep your inventory updated because many insurance policies limit what they pay for. If you have expensive jewelry or artwork, for example, you might need to separate your policy from the homeowners' insurance.
Creating a House Inventory Can Be an Overwhelming Task
The process of creating an inventory can be overwhelming, regardless if you are using a paper or digital version. To make it easier to manage, it is a good idea for you to break your inventory down into smaller sections.
For example, if you're looking to create a digital inventory, it's a good idea to walk through your home room by room and take detailed pictures of each item. You will remember where the items are and also have a quick guide when you want to finish your list.
You should also include receipts and other documents for each item. This will help you prove the value in case of an insurance claim, and it can also be used to assist your agent or broker with assessing the value of the property.
Don't Give Up if You Can't Finish Right Away
It's tempting to just give up after the initial step. Keep going and you'll soon have an accurate list of all your items.
Begin in the Kitchen. Work your way Out
A well-organized room or enclosed area is the best place to begin a home inventories. You can start with a room or area that is organized, such as a wardrobe, chest of draws or cabinet.
If you have a lot of clutter, don't be afraid to throw out or donate anything that isn't useful or necessary anymore. It's a good way to free up some space and declutter your home.