A Home Inventory – The Basics

Some of the most common questions clients ask when discussing home insurance and renters insurance at Isch Insurance are about a home inventory.

  • Do I need a home inventory?
  • How do I get started creating a home inventory?
  • What should I include in my home inventory?
  • How will a home inventory affect me if I have a claim?
  • What happens if I don’t have a home inventory?

These are all great questions that come up often. So where to begin? Let’s start with the basics.

A home inventory is just what it sounds like – It’s a detailed list of everything in your home. Basically, if you bought it, it should go on your list. A full home inventory can do wonders for your home insurance.It can:

  • Help you figure out how much insurance to buy
  • Speed up the claims process if a loss occurs
  • Help verify losses for your income tax return the following year

If you are creating a home inventory, you will ideally want to include a description of the item, serial number, purchase date and estimated value. Keeping receipts can help in this process too.

That being said, we all have good intentions of creating a detailed inventory, but everyday life can get in the way. One suggestion we always make at Isch Insurance is to take pictures or videos of all your rooms, closets, cabinets and drawers. Many people forget about their food or the little things in your junk drawer, but replacing all of those things can get costly.

Also, take specific pictures of any “special” or “high-value” items. These could be jewelry, antiques, designer bags, firearms, collections and special electronics. If you have a loss and don’t already have a home inventory, you will need to create one after the fact. Taking pictures is a great way to help you remember what you had.

If you’re a bit overwhelmed, it’s ok. Download a home inventory app. It will help you get a little more organized and hopefully make the process a little easier.

When you get your pictures or list complete, don’t forget to save it in a safe place. At Isch Insurance, we often keep home inventories in our client’s files, just in case of a claim. And if you get stuck or have any questions, call us at 765-838-2781. We know you’ll be glad you did.