Having an up-to-date home inventory will help you:

• Purchase the right insurance coverage to replace the things you own

• Expedite an insurance claim

• Substantiate losses that are filed on income tax returns

Many insurers provide online tips and web-based programs to assist their customers

with the inventory process. Some even provide cloud-based apps for easy

accessibility and updating.

Perhaps your preference is to conduct a paper or video inventory of your

possessions. Whatever method you choose, these tips will help you capture all that

you own.

HOME INVENTORY TIPS

• If you are just setting up your apartment or household, the inventory

  process may be relatively simple. If you are recently married, include your

  wedding registries to document new possessions.

• Update your inventory regularly, adding new items when you buy them.

  Scan or add digital copies of receipts with photos of electronics and other

  items of value.

• Obtain close-ups of expensive items such as jewelry, fine art, stamp

  collections, china, furs, antiques and silver. NOTE: Older items, like artwork,

  antiques and collectibles may increase in value since their purchase. Some

  may require appraisals for authentication and value. Be sure to scan or

  photograph appraisals into your inventory.

• Don’t forget closets, drawers, cabinets, toys and storage tubs. Inventory

  items in your basement, garage and outbuildings, too.

• Store a backup of your inventory off-site in a safe deposit box (on a memory

  stick or external hard drive) or in a cloud-based back up. Scan the hard copy

  of your inventory for safe keeping.

• Delete items from your inventory when you no longer have them.

• Update your inventory every few years, when you move or when you make

  a major home improvement.

• You may prefer to back up an inventory with video. If using video, walk

  through your house or apartment while taping its contents. Remember to

  open draws and closets. One advantage of video is that you can narrate as

  you inventory, including information on the make and model of home

  electronics and appliances.

Provided courtesy of the Ohio Insurance Institute