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Anderson, Bagley & Mayo’s Guide to Creating a Home Inventory

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Anderson, Bagley & Mayo’s Guide to Creating a Home Inventory

Here in North Central Massachusetts, we are spending a lot more time at home to help flatten the curve. While our normal routines may have been disrupted, it is a great opportunity to find the silver lining and enjoy spending quality time with our families, trying out new recipes, getting ahead of spring cleaning, and even protecting our valuables in our home. One of the easiest ways to do this is to make a home inventory. We’ve put together the following insights to help guide you through this helpful stay-at-home project.

What is a home inventory and why do I need one?

Every homeowner, condo owner, or renter should consider having some form of a home inventory. It simply is a way to document everything you own along with details about how much each item is worth. In the event you suffer an insured loss, this list can help expedite the claims process, especially when our memory may fail us. Here at Anderson Bagley and Mayo, we believe reviewing your homeowner’s policy and creating a home inventory list go hand-in-hand.

What should I consider when taking inventory?

Your home inventory should include a comprehensive list of the items or personal belongings you have in your home, condo, or apartment. The list can be categorized by room, type of item, collection, or other relevant criteria. Each item should also have as much of the following information as possible:

  • Description
  • Make, model or serial number
  • Where and when the item was purchased
  • What it cost to purchase the item and what you think it will cost to replace the item “today.” (What you bought on sale, may not be on sale at the time of loss).
  • Appraisals of valuable items like antiques, jewelry or collectibles.

Receipts or photos in an attachment if relevant

If you have any expensive jewelry, paintings, rare keepsakes, or electronics in excess of

$1,000-$2,000, we recommend that you record those in a separate section of your home inventory list. These big-ticket items may need additional coverage. Below is an extensive list of items that may best be insured under separately:

  • Valuables (jewelry, silver, furs)
  • Antiques, collectibles, fine arts
  • Cameras
  • Musical instruments
  • Golf equipment
  • Firearms
  • Boats, jet-skis, ATV’s, and snowmobiles
  • Drones


How should I make my home inventory?

There are several ways you can take inventory. You can make a physical list, create an organized spreadsheet, compose a digital inventory by taking photos and videos, or you can use a home inventory app. When creating your home inventory, go from one room to the next and include all household items from couches to appliances. It is, however, important to remember, in the event of a loss like a fire, having a hard copy of your inventory inside your home may not be of much use. We recommend having a backup copy outside of your home, at your office, in a safety deposit box, or stored digitally.

We hope these tips help you get started on creating your home inventory. If you have any additional questions about home inventories or your home insurance policy, your ABM agent is here to help.

There’s no place like your home. Let Anderson, Bagley & Mayo help you protect it. Contact us today!

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