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Why Should You Have a Home Inventory?

Why Should You Have a Home Inventory

Taking a house inventory may seem like time-consuming and dull work, but there are several reasons why you should do it. Keeping a home inventory is suggested by many insurance carriers as a way to ensure that you have an up-to-date record of all your possessions. It’s recommended that you save multiple copies of this (think digital back-ups) since a physical list will most likely be destroyed or lost in the course of filing a claim.

1. You can tell if you have adequate coverage.

A home inventory can determine whether or not you have enough personal property coverage whether you’re purchasing Renters Insurance for your first apartment, or if you’ve been living in the same house for years. You may now know that you require at least that much personal property protection after adding up all of your belongings and discovering they amount to $150,000.

2. If you have a claim, it will save you time.

A list of what was destroyed or stolen might make a claim less stressful if there is a fire in your house, or you are the victim of theft. If you have valuable stuff like antiques, collectibles, weapons, or jewellery at home, provide as much information as possible.

3. The small things add up over time.

You’ll likely recall the bigger things, such as furniture, but what about the smaller things? Shoes, clothing, sports gear, and movie collections can all add up rather quickly. Taking a comprehensive property inventory might ensure that you are compensated for everything you own if there is a fire in your house.

4. It’s simple to use because of technology.

If spreadsheets make you nervous, don’t be concerned. There are several methods to keep track of the items in your home that don’t need hours on a computer. There are numerous smartphone apps accessible for download that make conducting a house inventory simple. Recording a video is another option for keeping track of your possessions and is easy to do. Documenting a video may be beneficial if you have to file a claim.

5. It is a great tool for getting rid of clutter.

Take this opportunity to downsize and declutter any objects you no longer find necessary while you’re already devoting time to assessing all of your possessions. Maybe you have five winter coats but only wore two last year. Maybe you have a kitchen gadget stashed away in a cupboard that you haven’t thought about since Thanksgiving 2003. Taking inventory may assist you in determining what items should stay and what should go.