How to Make a Home Inventory

August 30, 2017
Written by C&S Insurance

The stories of loss coming out of Houston and the surrounding areas are heartbreaking. Sadly, Hurricane Harvey is not the only major loss event U.S. homeowners will experience this year. Every day, thousands of families lose their homes or the valuable possessions inside due to fires, burglary, or extreme weather.

Having adequate home insurance (MA renter’s insurance or MA condo insurance) is a good start. Keeping track of what you own is essential, too. And yet, most American families aren’t doing that. Consider these home inventory statistics from the NAIC:

  • Nearly 6 in 10 consumers don’t have a list of their valuable possessions.
  • Among those who do have home inventories, half do not keep receipts to back up their list items.
  • Roughly 30 percent don’t have photos or a back-up copy of the inventory itself.
  • Most people have not updated their inventories within the past 12 months.

The following outlines simple steps you can take, right now, to protect the things you care about. Here’s how to make a home inventory, and how to report lost property to your insurance company after a loss event:

 

Step 1: Do a walk-through

  • Walk through all the rooms of your home (basement, garage, tool shed included)
  • Take note of any valuable items on paper or a digital spreadsheet

Step 2: Make a visual record

  • Use your phone to take photos or videos of your walk-through to show proof of ownership

Step 3: Digitize paper receipts

  • Scan receipts for big ticket items (TVs, jewelry, furniture)
  • Place the receipts in a secure location

Step 4: Protect your inventory

  • Store copies of your inventory in a safe, accessible place
  • Ask an insurance agent about options for online portal storage

Have questions about home insurance? Give us a ring at 508.339.2951