Renter's Insurance and Your Home Inventory

When I bought my first renter's insurance policy, the agent asked how much my things were worth. I had no idea. I guessed. Later I made a home inventory, and I was surprised. My things were worth much more than I thought. Here is why an inventory matters, and how to make one.

Why Make a Home Inventory?

A home inventory is a list of what you own. It helps in two big ways.

• It helps you pick the right amount of coverage. You can see what your things are really worth.

• It helps you file a claim. After a fire or theft, it is hard to remember everything. A list makes the claim faster and easier.

It also gives you peace of mind. You know you are ready.

How to Make One

Start small. You do not need to finish in one day. I did one room each weekend.

Go Room by Room

• Walk through each room with your phone.

• Take a slow video. Open closets and drawers.

• Say what things are out loud as you film.

• Take photos of bigger or valuable items.

Gather Receipts

• Save receipts for big purchases.

• Look in your email for online orders.

• Snap a photo of paper receipts so they do not fade.

Write Down Serial Numbers

• Electronics like laptops, TVs and phones

• Appliances you own

• Bikes and tools

Serial numbers help with theft reports and claims.

Note the Details

• What the item is

• Brand and model

• When you bought it

• What you paid

Back It Up in the Cloud

Your inventory does no good if it burns with your home. Save it somewhere safe.

• Upload photos and videos to a cloud account.

• Email a copy to yourself.

• Share a copy with a trusted family member.

Try a Free App

The NAIC offers a free Home Inventory app. It lets you snap photos, scan barcodes and group items by room. You can export your list anytime. Learn more on the NAIC Home Inventory page.

Update It Every Year

Life changes. You buy new things. You give old things away. Pick one day each year to update your list. I do mine when I renew my policy. Then I check if my coverage still fits.

Also update it after big purchases, like a new laptop or a couch.

A Quick Inventory Checklist

• Room-by-room video and photos

• Receipts saved

• Serial numbers listed

• Copies backed up in the cloud

• Reviewed once a year

My Last Word

A home inventory takes a few hours. It can save you weeks of stress later. Start with one room this weekend. Your future self will thank you.