How to create a home inventory

Imagine needing to list every possession in your home or apartment, along with each item's worth after your belongings have been stolen or destroyed in a hurricane, tornado, wildfire or other natural disaster. That task may seem impossible, so it may be helpful to make the list before you need it.

Why do I need an inventory of my home or apartment?

A home inventory can be an excellent way to help make home insurance and renters insurance coverage decisions and expedite the claims process. Recording your insurable assets can help you settle a covered loss or claim, verify tax-deductible property losses and determine the insurance coverage amount you need. A home inventory list can also assist you with estate planning or dividing possessions during life changes, such as a divorce.

How do I create a home inventory?

The first step is to decide on what type of inventory would be easiest for you to create. A home inventory can be as simple as a list of all your possessions or a visual record of each item, but an effective home inventory will typically include both for added security. Today, there are even digital tools to help maintain the list.

• Written inventory — a comprehensive home inventory list catalogs your belongings. Try to include the item description (make, model and serial number, if applicable), value, where you bought it and the purchase date. You can create your list using a spreadsheet or fill out a home inventory checklist to help you get started.
• Digital inventory — if you have an iPhone or Android phone, there are apps you can download, some of which are free. These digital home inventory apps usually allow you to record a photograph of the item along with the description, value and purchase date.
• Visual record — a visual record of your possessions can help show proof of ownership. This can be accomplished with a video walk-through of your home or through a series of photographs along with written descriptions.

Once you decide on the type of home inventory you want to create, according to the Insurance Information Institute, there are some simple steps you can take to start the process. Also, consider obtaining appraisals for your most valuable possessions, such as antiques, art, jewelry, collectibles and electronic equipment. If you have any questions about which items may be covered by your policy, contact your insurance agent.

• Record possessions if you pack for a move — when moving to a new apartment or home, take some extra time to record the belongings in each room.
• Pick one area at a time to record — you could start with a hall closet or small kitchen cabinet. Then, after capturing your belongings, move on to the next space.
• Document recent purchases — get into the habit of recording new purchases. Along with the record, try to store sales receipts and appraisals (including the appraiser's name and address) to help verify the value of each item.
• Record important information — provide a detailed description by listing where you purchased the item, date of purchase, the make and model and the amount you paid. Include the serial number if the item has one.
• List the number of each clothing type —  for example, "three black dress pants, two white button-down shirts, one pair of blue sneakers…" Most importantly, document all valuables in detail.
• Include stored items as well —  these could include items kept in your basement, attic, garage, detached structures or a self-storage unit.

A real-life example of why a home inventory is important

When you experience a catastrophic event that completely burned your house, you know better than anybody the importance of having a home inventory for insurance purposes (and how to complete one): documenting the things you own can help make your insurance claim easier if your residence is destroyed. In the following video, you’ll meet Mary Knapp, a survivor of the Jesusita Fire of 2009 in Santa Barbara, CA, and Irene Henry, her State Farm® agent.

How should I store my home inventory?

Don't let your home inventory become part of a property loss. Whichever inventory method you choose, it's important to keep a copy of your property checklist in a fireproof safe, safety deposit box or digitally in the cloud. You can even email your inventory to your insurance agent. Sending the list may have the added value of allowing your inventory to be reviewed by your agent to see if you need extra home or renters coverage or to add a personal articles insurance policy. To help maintain an accurate inventory list, update it annually or anytime you move. This might help save you time and stress in the future if you experience a loss.