Taking inventory isn’t much fun. In fact, the process can put shepherds right to sleep. Businesses find it essential to track what they have, but what about our homes?

Most of us don’t think about a home inventory until it’s requested. Usually that means something stressful has happened—a fire, flood, theft, divorce, etc. During those events, it’s not as easy to think clearly and concisely.

As with most projects we’d rather not do, we need a little motivation to get us going. Consider the cost verses benefit. The cost doesn’t need to be more than the time it takes to create it. If you choose to use an inventory app, you might have a financial investment as well.

Benefits include accelerating the claim process after an incident, maximizing your claim payment because you won’t be relying on your memory, ensuring that your insurance coverage is adequate, and general peace of mind.

If your scale tips on the benefits side, here are some Timely Tips to get it done.

Timely Tips to create a home inventory

RESOURCES:

Go to your homeowner’s insurance website or contact your agent to see what resources they offer.
For a digital method, check out this list of home inventory apps at www.BobVila.com.

FOR HIGH TICKET ITEMS INCLUDE:

A description of the item--make, model, serial number, as applicable
Value/appraisal
Purchase place and date
Receipt

Unless you’re already a meticulous record keeper, you may not have or know all that. At least you’ll have the item listed and can choose to record these things for new, incoming purchases.

CREATE YOUR LIST

Google "home inventory spreadsheets" for templates you can use digitally or print out and use on paper. Your Excel program offers templates as well.
Or, go old school with a yellow pad and clipboard--either works!
Label each page either by room or category.
Make columns for Item Name, Location, Description, and Price. Include high ticket information columns, as needed.
Include in your inventory the contents of outside sheds, attics, basements, off-site storage units, and safe deposit boxes.

PHOTOS & RECEIPTS

Photograph the items and store them in a digital folder labeled with the room or category name.
If using paper, print the photos and store with the paper inventory list in a sheet protector.
You may choose to photograph an entire drawer or shelf rather than individual items and, for instance list the total number of pants, shirts, and shoes. List expensive items separately.
Scan and name coordinating receipts and save in the digital folder or keep hard copies in the sheet protector with the inventory list. A photocopy of the receipt will be less likely to fade over time.

VIDEOTAPE YOUR INVENTORY

An alternative method is to videotape your inventory while describing the items and zooming in on details such as serial numbers and accompanying receipts.

***Photo by*** *Immo Wegmann* on *Unsplash*

STORE A COPY

Upload your home inventory digital files or video to an email folder or cloud storage.
Or, transfer them to a flash drive and/or external hard drive. Keep one off-site.
Photocopy your paper inventory sheets/photos/receipts and create and label two binders.
Keep one and place the other in a safe deposit box or at the home of a trusted friend or family member.

UPDATE

Update when significant changes are made.

INSURANCE CHECK:

Confirm with your agent that your policy is adequate to cover the replacement value rather than cash value of your belongings.
Inquire about sub-limits as some policies have coverage limits i.e., theft coverage for jewelry and watches. In this case you may need to do an add-on to ensure you’ll receive their full value.