4 Steps to Creating a Home Inventory Checklist

A home inventory is essential for protecting your belongings and ensuring a smooth claims process in case of fire, theft or other disasters. Here’s how to create and maintain an effective home inventory:

1. Divide your home into sections
2. Keep your home inventory in a secure place
3. Understand your policy limits
4. Review and update your home inventory regularly

Think quick: Are you able to name the complete contents of your living room along with their cash value? Now imagine trying to do this with your entire home following a fire or a robbery. This is why it’s important to create and maintain a home inventory — so that you can be prepared in case disaster strikes.

Whether you are a homeowner or renter, a home inventory helps to simplify insurance claims and ensure your valuables are covered. Here are four steps to take when creating your home inventory:

1. Divide your home into sections

Take the time to thoroughly go through each room of your home and create a detailed list of its contents. Each item should include:

• Category (electronics, appliances, furniture, clothing, etc.)
• Brief description
• Serial numbers for appliances and electronics
• Receipts with purchase date and price
• Photos or videos of the room and items
• Group lower-value individual items together with their estimated value (e.g., workout clothing – $500, nonfiction books – $650, etc.)
• Appraisal or valuation documents for high-value items
• Any additional notes that are relevant to your insurer

2. Store your home inventory securely

Choose a method that works for you, whether its Excel, a home inventory app, or pen and paper. The key is to keep your inventory safe. You can do this by:

• Backing up digital files to the cloud or emailing them to yourself regularly
• Storing handwritten lists and paper receipts in a fireproof safe
• Keeping more than one copy in different secure locations

3. Understand your policy’s special limits

If you own expensive items such as bikes, handbags or jewelry — it’s a good idea to consider additional insurance coverages. Review the special limits in your policy to ensure you’re not underinsured. For example, if your policy only covers jewelry up to $10,000 and your collection is valued at $15,000, connect with your advisor to discuss updating your coverage.

4. Don’t forget to review and update your home inventory regularly

Every time you make a major purchase, you should add it in your home inventory with the details listed in step one. Aim to review your inventory at least once a year to ensure it’s up to date. Don’t forget to update your insurance policy as soon as possible if there are any significant changes.

Questions? Contact your Acera Insurance advisor

If you have questions about what is covered under your home insurance policy, contact your Acera Insurance advisor. They can provide insights into your current policy limits and make sure that you are properly covered in the event of a claim.

Contact us today!