Don't Wait Too Long to Create a Digital Home Inventory

Challenge: List every possession you own, along with each item's worth. Imagine doing this after your belongings have been stolen or destroyed in a fire or natural disaster. The task may now seem impossible.

Fortunately, there are a number of digital options which make the process a simpler one using mobile devices. If you have an iPhone or Android phone, there are even applications that can be downloaded to your phone, some of which are free in your app store.

Why do I need a home inventory?

A home inventory can be used to help you make coverage decisions. It also can simplify filing an insurance claim, help you secure a settlement and prove useful when verifying property loss for taxes. 

Despite the importance of an inventory, many individuals don't have a detailed record of their belongings. According to the most recent survey from the National Association of Insurance Commissioners (2012), 59% of consumers don't have an inventory. Of those who do, many haven't kept their records up to date or didn't include the necessary documentation.

How do I make an inventory?

1. Making a list: Use this checklist to make sure you don't leave anything off the list. 
2. Creating a thorough record: Add detail to your inventory with product descriptions, including the item's make, model, serial number, date of purchase, and purchase price. Also upload photos of the item along with a copy of the sales receipt or appraisal. 
3. Storing it in a safe place: Print hard copies of your inventory and store in multiple locations or keep it digital.

See more helpful mobile tools from State Farm?.