Why You Need a Home Inventory and How to Create One

Each year, one of every 20 households file insurance claims due to theft, fire, wind, and water damage. In 2019, losses from natural disasters topped $25 billion, and 2020 is shaping up to outpace that number.

It’s not something anyone likes to think about, but it can and does happen. And after going through a traumatic event, it’s stressful and bewildering to remember all your lost possessions.

That’s why a home inventory is a lifesaver if you experience an unfortunate event such as a fire, storm, or theft.

In this article, we’ll cover why you need a home inventory and how to create one, including how to document your home inventory, what information to include, and tips for getting started.

Why you need a home inventory

If you experienced a significant loss, could you describe each item you lost? Would you recall their details and values?

Even those with the best memories will forget many of their possessions when not in plain view. That’s why you need a home inventory.

What is a home inventory?

A home inventory is a record of your possessions. Most home inventories include descriptions of items, along with a video or photo. The more detailed…