You should keep an inventory of everything you own, especially if you are a homeowner. You may be able to claim compensation if your home is damaged due to a natural catastrophe, a fire or theft. It can also be used to help determine whether your homeowner's insurer is adequate.
What is a House 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. Update it regularly to reflect important purchases.
What is the Best Way to Inventory Your Home?
A house inventory can be a valuable tool for homeowners who own expensive or valuable items. Create an inventory annually at the very least and update it every time you buy a big item, like a computer or television.
It is important to keep an inventory up to date because many insurance policies have limits on what they will and will not pay out for. For example, if you own valuable jewelry or art work, you may need to insure these separately from your homeowners policy.
A house inventory can be a daunting task
It can be daunting to create an inventory, whether it's digital or on paper. To make it easier to manage, it is a good idea for you to break your inventory down into smaller sections.
If you want to create a digital home inventory, for example, you should walk through each room of your house and take pictures of every item. You will remember where the items are and also have a quick guide when you want to finish your list.
It's also a good idea for you to include any receipts, or other documentation that you may have, with each item in your inventory. This will allow you to easily prove the value of your possessions in the event of an insurance claim and also help your agent or broker assess the value of your property.
Don't Give Up if You Can't Finish Right Away
It can be tempting after you have completed the first process to quit and move on. It's important to persevere.
Start in the Kitchen and Work Your Way Out
To get started, it is best to focus on an organized space or room. This could be an organized closet, chest-of-drawers or cabinet that contains your most important papers.
Don't hesitate to donate or throw away anything that's no longer useful or necessary. This can be a great way to declutter and free up space in your home while making sure you're only storing what you really need.