9 Steps to Complete a Home Inventory
We talked about a great article we came across by Jim Guidry of the Wisconsin Office of the Commissioner of Insurance that talked about a way to protect your personal property by using your iPhone® or iPad®, he also gave some pointers on how to complete a home inventory.
(Hint) A suggestion from our staff is to hire your teenager to do this for you.
Take these 9 easy steps to complete a home inventory:
- Make a list of possessions, including “celebration” purchases, such as jewelry and fine art.
- Think about family heirlooms, collections and furniture. Also, consider items related to everyday leisure time, from flat-screen televisions to custom guitars.
- Take note of commonplace items such as toys, CDs and clothing. Do not forget items you may only use occasionally such as holiday decorations, sports equipment, tools, and high-ticket items kept outside your home such as landscape and swing sets.
- Attach copies of original sales receipts and/or appraisal documents to your inventory. Be sure to note model and serial numbers.
- Group your possessions into logical categories. (i.e., by hobby, by room in your home)
- Carefully photograph or videotape each item and document a brief description, including age, purchase price and estimated current value.
- Remember to open drawers and closets to document what is inside.
- Store your home inventory and related documents in a safe, easily accessible place, such as a secured site/file online, a fire-proof box or in a safe deposit box. You may want to share a copy with your insurance provider to make necessary updates to your coverage.
- Review and update your inventory annually and anytime you make a significant purchase.