By Faye Griffiths-Smith, UConn Extension Family Economics & Resource Management Educator

A home inventory is a tool you can use to document your ownership of personal property. Homeowners and renters can benefit from having an up to date household inventory in several ways. You can:

• estimate the value of your possessions. Use these figures to calculate how much home owner’s or renter’s insurance coverage to purchase.
• provide necessary documentation of possessions to process an insurance claim as quickly and accurately as possible.
• verify losses listed on an income tax return.
• document what you have accumulated over time.
• prepare for a move.
• gather information that will be useful in completing a net worth statement.
• plan for the distribution of an estate.

Over the years, families and households can collect a variety of possessions. They may accumulate clothing, jewelry, electronics, furnishings, collectibles, workshop tools, hobby supplies, sports equipment and other items. Imagine the challenge it could be to document your ownership of valuable possessions following fire, theft, or a disaster. In addition to the physical loss of property, people sometimes find it can be emotionally devastating and very stressful. It may be difficult to recall all the items you might hope to replace.

What You Will Need

A video camera or camera can help you provide documentation of ownership. Another option would be to make copies of the forms included here to catalog your belongings. Working with a partner can help speed the process. Photos or video recordings that include a family member with the possessions are also helpful. Receipts provide valuable documentation. Some may find it helpful to use a three-ring binder for their inventory. Receipts may be included in notebook by inserting pockets or sleeves. Recent appraisals of valuable items such as jewelry are important to include. There are also apps which can help you catalog your personal property.

Where to begin?

There are several different strategies you can use. One option might be to start with the smallest rooms or areas first such as a closet or pantry. Another idea would be to begin with the first room to the right when entering the home’s front door and then proceed to the next room to the right. Another method would be to focus on most valuable items first.

Remember to include places where you keep items of value. Open cupboards, cabinets, closets, and drawers. Be sure to catalog items in the attic, basement, deck, patio, garage, toolshed, and lawn. Also, include rented storage facilities.

List all items of value that you would need or want to replace. Provide details about the specific item so that it can easily be identified. Include the brand name, model and serial numbers, material type, color, size, condition, and features.

Where to Keep Your Inventory

Keep a working copy of your household inventory at home in a fireproof safe. Another copy should be kept off site in a safe deposit box or with a relative or friend. It is wise to keep both paper and electronic copies. A flashdrive or the cloud can be used for storing the inventory.

Keeping Current

It is wise to update your home inventory regularly. You may want to add new items to your inventory as they are purchased. Some may find it helpful to update it annually at a specific time such as the first of the year, wedding anniversary or anniversary of the purchase of your home or move in date, or daylight savings time.

Sources:

Document and Insure Your Property, FEMA, July 2018

Disaster Preparedness: A Smart Disaster Preparedness Plan Includes Insurance Protection, National Association of Insurance Commissioners Consumer Alert, May 2009

Get Financially Prepared: Take Steps Ahead of Disaster, Kansas State University Agricultural Experiment Station and Cooperative Extension Service, August 2012