Insuring Your Home: A Comprehensive Guide

Creating a list of your house contents for insurance purposes is a sensible and necessary step to protect your possessions. A home inventory list is a record of your personal belongings, their value, and how much they cost. In the event of a disaster, burglary, or another unfortunate incident, a contents list will help you file a home insurance claim. This list will also help you choose the right amount of coverage and simplify the claims process.

To create a contents list, you can use a pen-and-paper combo, a document on your phone or computer, or a specialised app. Begin by listing each item by room, then organise your list by category. Take photos or videos of your items, and include as many details as possible, such as the item's description, model or serial number, purchase date, and estimated value. Keeping a detailed home inventory list will ensure you're fully prepared if the unexpected happens.

Include item name, description, value, purchase date, and estimated value with a receipt

Creating a home inventory list is a sensible and necessary step to take to protect your possessions. It can be used to document all your valuable and not-so-valuable possessions, and it will help you resolve disputes that may arise about an item's value or even its existence.

When listing your household contents for insurance, it's important to include the item name, a brief description, the date it was purchased, its value, and an estimated value with a receipt.

For example, let's take the item "fridge." The item name is "fridge," and a brief description could be "a white, 200-litre fridge with a water dispenser and ice maker." If you purchased it last year, you'd include the date and value then, and you can also include an estimated value now, with a receipt if possible. You can also include the serial number, any warranties, photos, and the condition.

Another example could be a laptop. The item name is "laptop," and a description could be "13-inch MacBook Pro, 2021 model, with an M1 processor." Again, include the date and value when purchased, and the current estimated value, with a receipt if you have one. Don't forget to include any accessories, like a laptop case or mouse, as separate items.

For items that are part of a set, like a dining table with six chairs, be sure to list each item separately, as insurance may only cover the cost of the individual item, not the whole set.

Finally, remember that you don't need to list every single item, especially for things like clothing. Grouping them into categories is perfectly acceptable.

Take photos or videos of items for proof of ownership

When creating a home inventory list for insurance purposes, it is important to take photos or videos of your items as proof of ownership. This will help you in the event of a disaster or theft, as it will provide definitive evidence that you owned the items in question.

To get started, grab your smartphone, a digital camera, or a video camera. If you're using a phone or camera, be sure to use the flash for clearer images. Take photos or videos of each item on your inventory list, zooming in on brand labels, model numbers, and serial numbers. For commonly knocked-off items, be sure to capture proof of value, such as the inside and outside of expensive luggage. For electronics and power tools, capturing model and serial numbers can aid in tracking down items in the event of theft.

When photographing or filming your items, consider the following:

• Place a card next to the items with the purchase price and date.
• Include a family member in the picture to help substantiate ownership.
• Open closet doors to display clothing items.
• Fan out the contents of drawers and capture them in your archive.
• Use a dark cloth as a background for silverware, china, or jewelry to make them stand out.
• For china, capture the pattern name or manufacturer's signature, along with the overall pattern.
• Include images of expensive power tools, garage equipment, and gardening tools. Don't forget items stored in your basement or backyard.
• If you're short on time, take group pictures of your most valuable items or record whole rooms, ensuring that your most valuable and theft-prone possessions are visible.
• Don't forget to include the camera or phone you're using in your inventory!

Remember to store your visual archive safely. You can use cloud-based storage options like Dropbox, Google Drive, Apple iCloud, or Microsoft OneDrive. Additionally, consider emailing the files to yourself or saving them to an external hard drive.

Keep a hard copy of the list in a fireproof safe

Keeping a hard copy of your home inventory list in a fireproof safe is a great way to ensure that, in the event of a fire, you still have a record of your possessions. While digital inventories are useful, they can be lost if your computer or phone is damaged or destroyed.

A fireproof safe will protect your list from fire damage, and it's also a good idea to keep a copy of your list elsewhere, such as in a safe deposit box or at a friend's house. That way, if your home is damaged or destroyed, you'll still have access to your inventory.

You should also consider keeping a digital copy of your list in the cloud or emailing it to yourself, as this will make it easier to access and share with your insurance company in the event of a claim.

It's important to keep your home inventory list up to date, so be sure to add any new purchases to it and review it regularly. That way, if you ever need to file an insurance claim, you'll have an accurate and current record of your possessions.

By keeping a hard copy of your home inventory list in a fireproof safe, you can have peace of mind knowing that your list is safe and secure, even in the event of a fire.

Store digital copies in the cloud or on an external hard drive

Creating a digital home inventory is a smart way to ensure you're prepared in the event of a disaster or burglary. By storing this inventory in the cloud or on an external hard drive, you can easily access it and provide proof of your belongings and their value when filing an insurance claim. Here are some detailed instructions on how to store your home inventory digitally:

Choose a Cloud Service or External Hard Drive

Decide whether you want to store your home inventory in the cloud or on an external hard drive. Both options have their advantages. Cloud storage offers convenience and accessibility from anywhere, while an external hard drive provides more control over your data but requires physical storage. Some popular cloud service options include Google Drive, Dropbox, and Microsoft OneDrive. These services offer varying amounts of free storage space and additional features like collaboration and integration with other tools. If you choose an external hard drive, consider purchasing a reliable brand with sufficient storage capacity for your needs.

Create a Comprehensive Inventory

Start by taking inventory of your belongings. You can do this room by room or by categorizing your items (e.g., electronics, clothing, appliances). Include as many details as possible for each item, such as its name, description, model or serial number, purchase date, and estimated value. Take photos or videos of each item to provide visual evidence of its condition and existence. You can use your smartphone or a digital camera for this purpose. Organize your inventory using a spreadsheet or dedicated inventory app to make it easily searchable.

Gather Supporting Documentation

In addition to your inventory list and media files, gather any relevant supporting documentation. This includes receipts, contracts, or purchase records that can help verify the value of your belongings. If you don't have receipts for all items, you can include bank or credit card statements that show the purchase. For items you didn't purchase, such as gifts or inherited items, research their estimated replacement cost.

Store and Secure Your Digital Inventory

Once you have compiled your home inventory, it's time to store it securely. If you choose cloud storage, upload your files to your preferred cloud service and take advantage of any additional security features they offer, such as encryption or two-factor authentication. If you use an external hard drive, connect it to your device and transfer your inventory files. Keep your external hard drive in a safe place, preferably somewhere fireproof and waterproof to protect it from potential disasters.

Update and Back Up Regularly

Don't forget to update your home inventory periodically. You can do this annually, monthly, or whenever you make a significant purchase. This ensures that your inventory stays current and reflects the accurate value of your belongings. Additionally, consider backing up your digital inventory in multiple locations. For example, you can store it in the cloud and on an external hard drive, or use different cloud services for added redundancy. This way, if one copy is lost or damaged, you have other options to fall back on.

Update the list regularly, especially after new purchases

It's important to update your home inventory list regularly. You should add new purchases to your list as soon as you can to avoid forgetting to add them. This will also help ensure that you have enough insurance to cover a loss.

If you've recently bought a high-ticket item, make sure to add it to your inventory. This could include items such as furniture, electronics, jewellery, or art. You can also update your list when doing a renovation, as changes to your home will impact your worksheet. Moving house is another opportunity to update your list as you pack and unpack your belongings.

It's a good idea to review your inventory annually, ideally when you renew your insurance policy. This will help you choose the correct plan and ensure you have the right amount of coverage. You can also update your list whenever you make a major purchase or on a schedule that works for you, whether that's once a month or once a year.

Keeping your home inventory list up to date will make it easier to file an insurance claim if you ever need to. It will also give you peace of mind, knowing that you have a strong grasp of the items in your possession and their value.

Frequently asked questions