Household Inventory
Having a household inventory will protect your assets and your sanity in event of a catastrophe. Long after victims have processed the insurance claims following a tragedy, they recall items that were lost but because they were not documented, they cannot be replaced. Your inventory is also a good document for listing specific bequeaths. Please protect yourself by completing your own household inventory.
The Easy Way to Complete Your Inventory
First, use this Excel form called SHJ Household Inventory Form (click here to download) to list the items you own, along with what you consider their value to be. You can use the form to create your personal list of all the items in each room of your home. By grouping your belongings by the room in which they are located, you'll be less likely to overlook something. At the bottom of the form are additional tabs for each room. (Don't forget the closets and storage areas.)
If you would like a more detailed household inventory list to work from, we recommend utilizing the Excel spreadsheet provided by United Policy Holders, a non-profit that offers information to insurance consumers, at: http://www.uphelp.org/library/resource/prepare-and-protect. Under the category Inventory "your stuff" there is an Excel link named UP Home Inventory Worksheet. The document takes a while to download because it is quite large with many pages (tabs) for the rooms and belongings that you may want to inventory.
A Picture is Worth a Thousand Words
Have a camera, camera phone, or even a video camera?
Take a few photos of each room. In particular, photos of higher valued and unusual items (such as antiques, jewelry, cameras and electronics, guns and collectibles) are extremely helpful when it comes to settling a loss. You may document model and serial numbers with photos as well. The photos should be identified and stored along with your completed form. You can make an extra copy to leave with a family member or friend and offer to keep theirs.
When You've Completed Your Inventory
Save your inventory and photographs digitally! You can keep a printed copy around the house if you'd like, but make sure you put a copy in a safe place - either in your safe deposit box or with someone that does NOT live in your neighborhood.
Then once a year, recheck it. What new items have been added to the household? How have the items' values changed? How does the protection of your Homeowners policy measure up against inflation or replacement costs? If it has been over 3 years since you checked, call your agent and ask!
The Easy Way to Keep or Store Your Inventory
We recommend that you save your home inventory and photographs digitally! You can store this on a Flash Drive, another type of portable drive or on a secure online storage site. Store your digital copy away from your home; it does no good stored at home if your home is destroyed.
If you are not computer savvy and need help with this, ask your family or friends to assist you, or you can find professional companies that will come to your home and provide this service to you for a cost.