Why you need a home inventory checklist and how to make one

Could you list every item in your kitchen cabinets, closets, or garage right now — without looking? Most of us don’t have a photographic memory that can catalog everything we own. That’s why creating a home inventory is so valuable, especially if you suffer a loss after a disaster.

A home inventory not only helps you document your belongings, but it also makes filing insurance claims easier and ensures you have an adequate amount of coverage. Let’s take a deeper look at what a home inventory is, why it’s beneficial for your insurance coverage, and how to make one.

Learn more: Homeowners insurance: What it covers and how much you’ll pay

A home inventory is a record of your possessions, including furniture, clothing, appliances, and valuables. It can be as simple as a written list or as thorough as a spreadsheet paired with photos, videos, and descriptions of each item. No matter how you choose to create your inventory, the goal is to have clear documentation of everything you own.

Since there are several ways to create a home inventory, the best place to start is by deciding which method works best for you. You can write a list of your belongings, take photos or videos, or combine multiple strategies for extra peace of mind.

Writing everything down is a simple first step. Using tools like a spreadsheet or checklist can also help keep everything organized and categorized. But an easier way might be creating and storing a digital inventory in an app or on your computer in the cloud. A digital inventory makes it easy to add photos and videos of your items, along with descriptions, costs, and purchase dates.

Your insurance company might even offer an app for creating a home inventory, and there are also standalone tools and resources you can use, such as the free NAIC Home Inventory app or home inventory templates.

When building your inventory, think beyond just the obvious or highest value items. A solid inventory covers specifics for each item and a big-picture overview of everything you own.

Types of items to include:

• Furniture

• Clothing and shoe collections

• Kitchenware and appliances

• Electronics and entertainment systems

• Tools

• Musical instruments

• Sports equipment and bicycles

• Holiday decorations and seasonal items

• Off-site belongings in a storage unit or safe deposit box

• High-value items such as antiques, art, jewelry, and collectibles

Details to include for each item:

• Name of item

• Make, model, and serial number (if available)

• Cost and purchase date

• Where it was purchased

• Photos or videos of the item

• Receipts, warranties, or appraisals

• Where it’s typically located in your home

Expert tip: It’s also helpful to include details about the design elements of your home, such as paint colors, lighting fixtures, faucets, and tile. This way, if you need to rebuild a portion or all of your home, you’ll have the design details ready to restore it to its original condition.

Creating a home inventory list can seem overwhelming, so try to focus on one area at a time before moving on to the next area. You could begin with one room or even narrow it down to just one area at a time, like a closet or cabinet. Another option is to start with your most recent purchases, then move on to older items.

Expert tip: If you’re not ready to go through all of your belongings so tediously, you can start by recording a quick video walk-through of your home. Pairing your visual records with written or typed notes can help you prove ownership if you ever need to file a homeowners insurance claim.

Once you create your home inventory, make sure it’s stored in a secure location. Back up your list and save a copy on an external drive, upload it to cloud storage, or keep it in a fireproof safe or safe deposit box. If you only have a paper copy of your home inventory, it’s recommended that you keep another copy somewhere outside of your home to avoid it getting lost or damaged.

It’s also a good idea to keep receipts and appraisals with a copy of your inventory and make at least one backup, like snapping photos of your paper list (and receipts) with your phone. If you use an app, check that your information is backed up and easy to access when you need it. You might also want to share your list with your insurance agent, so they have it available and on hand as well.

Don’t just make the list and forget about it. Make sure to review and update it regularly. It’s best to keep your list up to date by adding new items and purchase details while they’re still fresh in your mind — like right after a new purchase.

When your insurance policy renews each year, take a few minutes to review your inventory. This helps ensure your insurance is still enough to cover all of your belongings.

Learn more: What does homeowners insurance cover?

Once your list is complete, it’s time to put your home inventory to work. Add up the value of your belongings and compare it to the coverage listed in your insurance policy. This helps you see whether your coverage is enough or if you’re underinsured.

Example: If your home inventory totals $300,000, but your policy only covers $200,000, you’ll need to add an extra $100,000 in property coverage to make sure you’re adequately insured.

Keep in mind, most renters, condo, and home insurance policies put caps on coverage, called sub-limits, on certain valuables like jewelry, antiques, art, or collectibles.

Example: A wedding ring might only be covered up to $5,000, even if it’s worth much more. If that’s the case, your insurance company may suggest adding extra coverage, often called scheduling, for these high-value items.

It also helps to understand the difference between actual cash value vs. replacement cost value coverage. The type of coverage you have can make a big difference in the amount your insurer pays out when you file a claim.

Here’s a simple way to think about it: With replacement cost, you can buy a new item of a similar type and quality. With actual cash value, you only get the item’s value after subtracting depreciation for wear and tear. Replacement cost coverage may cost more, but it often saves you stress and extra out-of-pocket costs if you have to file a claim.

Learn more: How to get paid after a homeowners insurance claim

While creating a home inventory can be tedious work, or just another task on your never-ending to-do list, having one matters more than you might think — and here’s why.

Creating a home inventory gives you a clear record of your belongings that provides your insurance agent with what they need to recommend the right amount of personal property insurance for your policy. Without it, you could end up underinsured.

With homeowners insurance, part of your policy covers your personal property like appliances, clothes, and electronics. This amount is usually set as a percentage of your dwelling coverage, like 20%, 50%, or 70%. For example, if your dwelling coverage is $500,000 and your policy sets personal property coverage at 50%, that gives you $250,000 to protect things like furniture, clothes, and electronics.

For renters insurance, personal property coverage is usually listed as a dollar amount, often starting at $10,000 and going up from there.

Expert tip: After creating a home inventory, it’s a good time to ask your insurer which option your policy includes and make changes if needed. That way, you’ll know what to expect if you ever need to file a claim.

Learn more: How much homeowners insurance do you need?

After a fire, storm, or other catastrophe, stress can cloud your memory. This can make it even more challenging to list every damaged or destroyed item for your claim. From winter clothes tucked away in the back of your closet to expensive kitchen gadgets stored in your top cabinets, it’s easy to forget all the details.

But with a home inventory, you already have the documentation ready when you need it, ensuring your belongings are adequately covered.

Shows proof of what you lost for tax and relief purposes

A home inventory list isn’t just useful for insurance purposes; it can also make a big difference when it comes to qualifying for tax relief and disaster assistance. Preparing a home inventory ahead of time gives you the records you’ll need if you ever have to apply for disaster relief.

If your community was hit by a sudden, unexpected event like a wildfire, tornado, flood, or earthquake that’s declared a federal disaster, you may be eligible for IRS relief or aid programs like FEMA assistance. Available relief benefits include things like tax return extensions, faster refunds, or deductions for losses.

Supports estate planning and major life changes

Beyond disasters and insurance, a home inventory can also help with estate planning and during major life transitions like marriage, divorce, moving, and even death. When you create a clear list of your belongings, it’s easier to combine households, understand the full scope of your estate, divide property fairly, or stay organized during a relocation.

In other words, it helps reduce confusion during stressful times and gives you a reliable point of reference when emotions or logistics run high.

Learn more: How to shop for homeowners insurance in 5 steps

The best time to create a home inventory is before you ever need it. Starting now, whether you make a full list or just begin with one room, ensures you’ll have documentation ready if disaster strikes or when you review your insurance coverage. Life events, such as moving into a new place, are also ideal times to create or update your inventory.

How often should I review and update my home inventory?

It’s a good idea to update your home inventory whenever you move, buy or rent a new home, or purchase something valuable. Once you create a home inventory, you should review it at least once a year and update it if you need to adjust your coverage with your home, renters, or condo insurance.

It’s best to keep more than one copy of your home inventory in different safe places, such as a fireproof safe, a safe deposit box, or stored digitally in the cloud. Sharing a copy with your insurance agent is also a good idea, since they can review it and make sure your coverage is adequate.

Yes, as a renter, creating a home inventory is a must. It’s simply a record of your belongings that helps you prove what you own if something unexpected happens. Having this list makes it easier to confirm you have enough personal property coverage and can make filing a claim much easier — and faster.

Jamie Young and Tim Manni edited this article.