In the event of a disaster or other unforeseen event, having an up-to-date home inventory is key to making an insurance claim. It is this inventory which will help establish the replacement value of your possessions. Your renter’s insurance policy may require a listing and valuation, as well, when you sign up. The list should also bring some peace of mind as a record of the most valuable things you have in your apartment.
How do you get a handle on a big inventory list? One approach is to start with large items and move progressively smaller. You might also compile your list room by room.
List items that fall in these categories:
Be aware of the requirements of your renter's insurance policy, and follow those guidelines carefully. For instance, you may need to record proofs of purchase or ownership. Be sure to list the serial numbers of any electronic equipment, like a flat-screen television or laptop computer. Dated receipts are also valuable corroboration that you purchased a particular item. You might also list brand names and amounts paid for more expensive items, though you likely would only be offered current market replacement value in the event of a claim.
If you don't know if you should list a particular item, ask if you'd want to reclaim its cost should the occasion arise. If that makes sense, then include the item on your insurance inventory.
Pen and paper (copied and saved in more than one place!) will work, but you may find online options easier to use and keep up with. Take a look at tools on websites like these:
You might also want to make a video record or take pictures of each room in your apartment. Keep in mind that you still need a listed inventory, even if you document your apartment’s contents visually. The video is just additional evidence.
It's a good idea to keep copies of your home inventory in a safe place (or two) outside your apartment. A safety deposit box is a great spot that's also secure. You want your list to be available when you need it — not destroyed when disaster strikes your home.
There’s no time like the present! And remember to update your list as you accumulate new stuff — and get rid of things, too.
Photo credits: Shutterstock / benicce, Oleksiy Mark, Petinov Sergey Mihilovich, 101imges, Photosani, elen_studio, ndphoto