9 Steps to Complete a Home Inventory

Written by
May 20th, 2011

Home InventoryWe 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:

  1. Make a list of possessions, including “celebration” purchases, such as jewelry and fine art.
  2. Think about family heirlooms, collections and furniture. Also, consider items related to everyday leisure time, from flat-screen televisions to custom guitars.
  3. 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.
  4. Attach copies of original sales receipts and/or appraisal documents to your inventory. Be sure to note model and serial numbers.
  5. Group your possessions into logical categories. (i.e., by hobby, by room in your home)
  6. Carefully photograph or videotape each item and document a brief description, including age, purchase price and estimated current value.
  7. Remember to open drawers and closets to document what is inside.
  8. 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.
  9. Review and update your inventory annually and anytime you make a significant purchase.

More information on home inventories can be found on our website. Wisconsin residents who have more questions on home inventory or homeowners insurance, please contact KnowledgeBroker, Dan Wolfgram.

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