Why Every Homeowner Needs a Home Inventory

A home inventory is a critical tool for protecting your property. Hopefully, you'll never need it, but if you do have to submit a claim, it can be invaluable.

At any given moment, do you think you could list everything you own — and what it’s worth — off the top of your head?

Since most of us would probably answer, “no,” that’s where a home inventory comes in. A detailed, itemized list of your belongings can be an invaluable resource if disaster strikes. Whether you’re the victim of a fire, flood or theft, having a home inventory can make it significantly easier to file an insurance claim.

But a home inventory doesn’t just come in handy after unpredictable emergencies. Having a comprehensive catalog of your belongings can also help you determine if you need additional homeowners insurance coverage or streamline any estate planning you need to do.

The process might sound tedious (especially since you might never have to use the document). But if the time comes when you do need it, the payoff can be huge. Here’s a step-by-step guide to help you get started, with details about what to include and how to keep your inventory secure and up-to-date.

How to create your home inventory

Step 1: Decide on an inventory format

First, you need to figure out how you want to record your home inventory. It can be as simple as using a free online template like this one from consumer advocacy group United Policyholders and creating a spreadsheet in Excel or Google Sheets.

However, there are also apps designed to help you build a home inventory. For instance, the National Association of Insurance Commissioners offers a free home inventory app that lets you scan barcodes and upload photos of your items.

Step 2: Take photos and videos

Ideally, your home inventory should include both written and visual components. Use your smartphone camera to record a detailed walkthrough of every room in your home. Capture close-up images of high-value items as well as model and serial numbers. From there, upload your video or photos using a cloud storage service like Google Drive, Dropbox or iCloud so your inventory is backed up and easy to access when needed, even if you’re displaced from your home.

One important note: If this sounds like a lengthy process, that’s because it is. Don’t rush the task or try to do it all at once.

Step 3: Record essential information

As you go through each room, make sure to document the details that will help with insurance claims. For each item, aim to include:

• Item name and description
• Make or brand, model and serial number
• Purchase date and price
• Receipts or proof of purchase
• Condition and estimated value

Step 4: Categorize your information

Once you’ve logged the key details, the next step is to categorize your inventory by room and sort items into different categories. This helps keep your list organized and easy to scan — especially if you ever need to share it with your insurance provider. Here are some common category suggestions you might use:

• Electronics
• Furniture
• Appliances
• Clothing and accessories
• Tools and equipment
• Jewelry and watches
• Art and collectibles

Step 5: Store and back up your inventory

Once you have catalogued your home inventory, make sure it is stored somewhere safe and backed up in more than one place, so you can access it even if your home is damaged or destroyed.

Start by saving a digital copy using a cloud storage service like Google Drive, Dropbox or iCloud. That way, you can access it anytime from any device. You can also keep a physical copy. If you do, just be sure to store it somewhere secure, like a fireproof lockbox or a safe.

For extra peace of mind, email a copy to yourself, your partner or a trusted family member. That way, you have another backup that is easily accessible in a worst-case scenario.

Step 6: Keep it updated

Unfortunately, a home inventory isn’t a “set-it-and-forget-it” type of task. You should update it at least once a year, or after major purchases, moves, renovations or big closet cleanouts.

What to include in a home inventory

While you don’t need to list every sock or fork, your home inventory will be the most useful to you if it includes the following:

• Furniture: Beds, sofas, dining tables, bookshelves and other large items
• Electronics and appliances: TVs, laptops, gaming consoles, cameras, speakers, kitchen gadgets and major appliances
• Jewelry and valuables: Watches, engagement rings, heirloom pieces and anything that might require a home insurance rider for coverage
• Clothing and personal items: Designer clothing, formalwear and seasonal items like winter coats or sporting equipment
• Tools and lawn equipment: Power tools, lawn care and landscaping equipment, outdoor furniture, camping gear and hobby equipment
• Art, collectibles and heirlooms: Paintings, vinyl records, antiques and other unique items
• Important documents: Passports, birth certificates, deeds, titles and warranties (either physical or digital copies)

Common questions about home inventories

Why do I need to create a home inventory?

Not having a home inventory can delay your reimbursement if you need to file a homeowners insurance claim after a disaster. Most insurance companies require a detailed record of your lost or damaged items before processing and paying out claims, so having a thorough home inventory should speed up the process.

How much does it cost to make a home inventory?

The cost can vary depending on how you create your home inventory. It can cost nothing at all if you use a free spreadsheet template to document your inventory. Some inventory apps can be downloaded and used for free, while others may have a free as well as a premium version for which the company charges a monthly fee. Additionally, cloud storage services used for backup are often free up to a certain storage limit. If you have large image or video files, you might need to pay a monthly fee to store that data.

Update your home inventory annually

It’s best to review and update your home inventory at least once a year. You should also update it after any major purchases or life events like moving to a new home or getting married.