Home Insurance and Recording Your Valuable Inventory

Home Insurance and Recording Your Valuable Inventory
  • Opening Intro -

    Taking stock of your home inventory can save you money and avoid headaches should you ever need to file an insurance claim.

    The more detailed you are, the better -- if you suffer total loss, you may need to prove ownership for items that were destroyed.

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You can use an inventory list provided by your home insurance company or find one through your state’s department of insurance. Along with much details, take photos of your valuables and store these pictures online with your important documents. You can also videotape what you own and keep that recording in a safe place off premises.

Once you are done with your inventory, contact your insurer to verify that your coverage is sufficient to cover your losses. Your agent may recommend a rider and ask that you have your collectibles appraised. The following items should be included with your inventory if you have them:

1. Furniture — List your sofas, chairs, coffee table, bookcases, computer stations and lamps. Also, your bedroom furniture including beds, bureaus, side tables and lighting. Don’t forget your area rug, curtains, drapes and decor.

2. Appliances — Your refrigerator, dishwasher, washing machine, dryer and stove are among the major appliances you will want to inventory. Smaller appliances should be listed too and these can include your coffee maker, mixer, blender, toaster, electric can opener and other electric devices. Plates, dishes, utensils, glassware, pots and pans should also be inventoried.

3. Bathrooms — Your bathrooms have fixtures and these are not listed. They also are stocked with towels, rugs and a scale. Include your electric razor, hair dryer and beauty equipment.

4. Sporting Equipment — Quite easily, you can have a variety of sports equipment on hand. Include your sportswear and shoes, as well as a bowling ball, golf clubs, bicycles, fishing equipment, yard equipment and exercise equipment.

5. Jewelry — Take stock of your inventory and include what you wear such as a wedding band and engagement ring. Necklaces, earrings, bracelets, pins, brooches and watches should added to this list. Gold, silver and precious metals that are not jewelry, but are kept for value should be included.

6. Electronics — Our homes are filled with electronics including televisions, audio systems and phones. Many homes also have a camera, DVD players, handheld devices, tablets, computers, video systems, games, smart phones, cell phones, radios, clocks and other devices.

7. Artwork — Look around your home: you may possess as much art as the local museum! Seriously, you do own art and some items may be easy to overlook. Paintings, sculptures, mirrors, wall hangings, pottery and your art supplies should be added to this list.

8. Clothing — Go through your closets and take stock of your clothing. Include what you have hanging up in your closets, what you have stored away for the season and items tucked away in drawers. It may have been years since you wore your wedding dress, but don’t forget to add it to your list.

Special Items

There are other items you can and should include with your home inventory. Walk through your garage and you may find a whole workbench filled with tools, electric devices and battery-operated items. Anything related to your cars such as repair and maintenance equipment should be included. Your shed has your lawn mower, a leaf blower and perhaps a snow blower. If you own a pool, include everything that you have to maintain it. Yard furnishings, children’s toys, books, games, musical instruments and your music collection should be added. Check through the attic for stored items including an old stamp collection or other heirloom.

Now that you know what you own, you also know what to insure. Never skimp on insurance for your belongings as these items may cost you a mint to replace.

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Categories: Insurance

About Author

Matthew C. Keegan

Matt Keegan is a freelance writer and editor as well as publisher of "Auto Trends Magazine", an online publication. Matt covers campus, consumer, business and financial topics on various websites and weblogs, and has been published in the "Houston Chronicle", "Sam's Club Magazine" and "Wisconsin Golfer".