A Comprehensive Guide to Taking a Home Inventory for Updating Homeowners Insurance


Your home is more than just a structure; it’s a sanctuary filled with memories, cherished possessions, and valuable assets. Homeownership comes with its fair share of responsibilities, and one of the most crucial tasks is ensuring that your homeowners insurance is up to date. A key step in this process is taking a thorough home inventory. A home inventory is a detailed list of all your personal belongings and their estimated value. This inventory serves as a record that can be invaluable in the event of a disaster, theft, or damage covered by your homeowners insurance. An up-to-date home inventory ensures that your insurance coverage accurately reflects the value of your belongings.


Steps for Taking a Home Inventory


  1. Decide on the method that best suits your needs for creating your home inventory such as a physical list, spreadsheet, or images.


  1. Begin with one room and systematically work your way through the house.


  1. For each item in a room, document the following details:

– Description of the item (brand, model, color, etc.)

– Purchase date

– Purchase price

– Estimated current value (consider depreciation)

– Serial numbers or unique identifiers

– Save receipts, if available

– Take clear photographs or videos of the items, showing their condition and any distinguishing features.


  1. Research the current market value of your items.


  1. Gather receipts, warranties, and any appraisals to show ownership and value.


  1. Keep a copy of your home inventory in a secure location outside of your home.


Benefits of a Home Inventory


  1. With an up-to-date home inventory, your insurance coverage accurately reflects the value of your belongings. This means you’re more likely to receive fair compensation in case of a covered event.


  1. In the event of a disaster, the claims process becomes significantly smoother. You can provide your insurance company with a comprehensive list of items, making it easier to prove ownership and value.


  1. A home inventory can be a valuable asset for estate planning. It provides a clear record of your possessions, which can be helpful for beneficiaries and executors in the future.


Your home inventory is not a one-and-done task. As you acquire new items or dispose of old ones, be sure to update your inventory accordingly. Set a reminder to review and update your inventory at least once a year to ensure its accuracy.


With more than 55 agents and 60 locations across the state of Montana and northern Idaho, Farmers Union Insurance is equipped to guide you in important insurance decisions to protect what matters most to you.  To find your local agent, click here.


Disclaimer: The content provided in this blog is for informational purposes and should not be considered an offer for coverage. Each insurance policy is unique and may have varying terms, conditions, and exclusions. It is essential to consult with a qualified insurance professional or licensed agent for personalized advice tailored to your specific needs. This blog does not constitute a contract, policy, or guarantee of coverage. Always refer to your individual policy documents for full details.