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355,400 Reasons to have home inventory (and how to create one)

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Fire, home invasions, floods, and other disasters threaten your precious (and not-so-precious) possessions. Reclaim them with the help of a home inventory.  

Close your eyes. Now, can you name every valuable item in your home? Our guess is - probably not. While no one expects their home to be involved in a fire, home invasion, flood, or other disaster, it's important to be ready for such an event. A report by the National Fire Prevention Association estimates an average of 355,400 homes suffer a structure fire each year.

A home inventory helps to document and prove the loss of valuables and personal belongings to insurance companies. Creating one is simple and includes a collection of pictures, videos and documents that show the contents of your home and their value. Let's begin! 

​What should be in your home inventory (hint: everything)

When creating a home inventory, you should make sure the following items and information show up on your list:

Description: Include a picture or a short video of your item along with detailed information such as where it is kept, any modifications made, and any additional data that might be pertinent.

Manufacturers, models, and serial numbers: Snap a picture or document brands, serial or model numbers. This can usually be found on electronics, tools, and appliances. Keep this information handy as it will make items easier to identify on claims.

Initial cost and proof of purchase: Retain any documents that address the cost of major purchases. If you have ever gotten anything appraised, be sure to keep that information, too. (vipHomeLink makes this step super easy. Scan any document into our app, and the information is at your fingertips all the time.)

Big-ticket items: Home inventories are not just for artwork and antiques. (Of course, you should include those, too.) Remember important items like power tools, lawn mowers, televisions, collectables, memorabilia, musical instruments, and other valuables. Some of these items may require extra insurance coverage.

Smaller-ticket items: These are equally important, and you probably have more of them. When documenting items such as clothing, shoes, and cookware, you don't need to be quite as specific. Listing these items such as "20 shirts" and "4 baking dishes" usually is enough, unless some items are very high-end designer products. If you have any questions, be sure to check with your insurance carrier or agent.

You might be thinking that your home doesn't contain a lot of valuable items, but you'd be surprised. The cost of replacing everything can be exorbitant and a real financial burden if you don't have the proper insurance.

Keep your eyes open this time and just scan the room you're in right now. Do some quick mental math and add up the cost of replacing everything you see - your TV, and couch, your bed with 1500 thread count Egyptian cotton sheets, those decorative pillows with seasonal sayings. The amount adds up quickly! 

Where to keep your home inventory

At vipHomeLink, we want you to have - but never need - a home inventory, so leverage our reminders, recommendations, and vipTIPs to help reduce the chances you ever will. 

But be ready for the unfortunate event by building your home inventory on our app, which will keep your information in one place, accessible via your smart device. Subscribe today. Already a member? Add to your home inventory or complete yours today. Log in now

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