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Inventory of the Household

Publication Number: P0633
View as PDF: P0633.pdf

A household inventory can help you:

  • know how much property insurance to carry;
  • determine your net worth;
  • decide future needs and replacement costs; and
  • know what claims to make if property is destroyed or lost.

This inventory is formatted to allow you to enter pertinent information regarding the property you own. For example, the following sheets contain columns to identify the purchase date, original purchase price, current value, and replacement value. Keeping original receipts is beneficial (and a good practice for larger purchases) as they will help provide this information. However, if receipts are not available, you may need to leave some columns blank or estimate some purchase dates and prices.

The cost of furniture and other household items will increase over time, so both current value and replacement value columns are included in this inventory. Some insurance policies may only compensate the current value of property (original purchase price minus depreciation), rather than the full replacement value. Please check your policy for confirmation. When possible, obtain a replacement-guarantee insurance policy that will provide a full replacement of a similar item as the item lost.

Please note also, this inventory includes sheets for a home with four bedrooms and two bathrooms. You can print the number of sheets that reflect the configuration of your home.

Once completed, keep this inventory with your homeowner’s insurance policy and other important papers. Taking a picture of this document and/or scanning it into your electronic files adds another layer of security if the hardcopy is lost. You should update this information yearly to keep your records accurate.

Disclaimer: While this guide is intended to provide an easy-to-create inventory of household items, homeowners should take additional steps to ease the process of submitting an insurance claim. For example, attach to this inventory list receipts for larger purchases (like appliances) or appraisals for collectibles; record model and serial numbers; and create a digital inventory by photographing or video-recording rooms to document possessions. Some insurance companies may require digital “proof” of ownership before paying insurance claims.

Download the PDF in the link above.

Publication 633 (POD-10-17)

By Brandan Wheeler, PhD, Assistant Professor, Human Sciences, and Becky Smith, PhD, Assistant Extension Professor, Agricultural Economics

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