Archive for November, 2014

Household Inventory

Home Inventory


This week we discussed the importance of creating and keeping an updated inventory of your household items for insurance purposes. Most people these days have access to digital cameras (comes standard on most cellphones!) so there really isn’t any excuse not to have one. Microsoft provides a free template for home inventory and there are plenty of free & low-cost mobile apps to help as well!

The average household spends 7% of their annual income acquiring “stuff” from clothing to furniture to DVDs. Figuring roughly 10% of household items are thrown away, donated to charity, or sold, keeping an updated household item inventory is imperative! Now you don’t have to list out everything in detail – a quick description, condition, age of the item, & approximate replacement value is about all you need to record. Backing up the written list with photos or video is a great companion. Open drawers, closets, narrate as you walk through each room. These videos or photos coupled with inventory sheets will help you remember items which is important when a loss occurs. Losing a home is tragic and with emotions running high, you may not be thinking straight.

Be sure to make multiple copies of the list & videos/photos and KEEP THEM OFFSITE! When your house burns down, you don’t want your inventory list to go up in flames! Give a copy to your hometown insurance agent and update it every 2 years or as needed when you make some major purchases or do some de-cluttering. Talk to your agent as well about the benefits of scheduling items on your home insurance policy.

If you are into de-cluttering & donating your unused items to charity, here is a great article on the dos & don’ts of donating…


Of course if you’re in the state of Michigan and are in need of a hometown insurance agent, we’re always available!

616-396-1497 or toll-free 1-800-968-1497

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