How to Create a Home Inventory Video

This month at Everyday Money Management, we are focusing our Whole Life List efforts on documenting our clients’ stuff – that is, their physical possessions such as cars, furniture, art, jewelry, etc.

A couple of years ago, my friend’s home was severely damaged by a flood caused by a broken pipe. After two years, many disputes with the insurance company, a period of rebuilding, and a lot of stress, her house is beautifully remodeled. When I asked her what could have made this process easier she said – “I wish I had better records of what we had so that I could prove the value to the insurance company.” And I said, “You needed a home inventory!”

What is a home inventory video?

A home inventory video is a way to document the valuable possessions in your home, in case they are destroyed or stolen. It can be done as a video or just in photos, with written documentation about the values and descriptions of the items shown.

Why you need it:

There are many unfortunate situations in which you could lose some or all of your possessions: they could be destroyed by a fire, flood, hurricane or tornado, or be stolen. In any of these stressful scenarios, the last thing you’d want is more stress, and having documentation of your belongings can make things easier. In the event that you need to file an insurance claim, this documentation can allow you to be reimbursed appropriately for covered items. If you need to file a police report, a video would be very helpful for detectives trying to track down a thief. Photo or video documentation is also a good idea for anyone who plans to leave any valuable items to their heirs, so that there will be a record of each item and to whom it should be given.

How to get started:

First, decide how you will document your possessions: through video, photos or written descriptions. The best plan would be to use a combination of visual and written records. Take a look at the bottom of this article for some helpful tools to get you started.

Next, brainstorm a list of the most valuable items in your home. These will be the most important objects to document. Then, plan out how you will walk through your home, and how you might describe each object as you encounter it.

After this, start filming! Make sure you’ve turned on the lights in every room, and that you open closets and cabinets to view their contents. Hold small items up to the camera and be sure to list the quantity of any sets of dishes or silverware. Take your time, and feel free to redo any portions that you felt were unclear.

Finally, review your video or photos to write down each item you viewed, along with its value and a description that could include the brand and age of the object. If you have any receipts or appraisal forms, these are also great to include. Then, be sure to save these records in a safe place. This could be in a digital format like Google Drive or Everplans, and physical copies on a flash drive should be kept in a safe that won’t be destroyed in a natural disaster. You can also give extra copies to relatives or your insurance broker if they will take it. Lastly, remember to update your inventory every few years or whenever you purchase any new, valuable items.

What kinds of items to film:

● Jewelry and watches

● Electronics, such as TVs, computers, and cameras

● Art

● Kitchen and laundry room appliances

● Furniture

● Curtains and rugs

● Yard equipment, such as lawn mowers and snow blowers

● Heirlooms and collectors’ items

● Fine china and silver

● Valuable clothing

● Musical instruments

● Cars

● Bicycles

● Sporting equipment, such as skis and fishing gear

● Firearms

● Books and records

Remember to film in these places:

● Basement

● Garage

● Attic

● Offsite storage

● Deck or patio

● Safes

Handy tools to use:

● HomeZada app: this amazing tool will walk you through the steps of making a home inventory through video or photos, and allow you to tag each item with a value and description. It’s easy to update and access and is a great way to make sure your inventory doesn’t get lost.

● Household Inventory Form from Arbor Insurance: this printable form provides a comprehensive list of everything that could be of value in your home, from suits to air conditioners. This is a great companion for a video, so you can write down everything as you film it.

● Inventory Video Demonstration from R&R Insurance: this short YouTube video will show you how to make your own home inventory video, with a demonstration of how to display and describe each item.

● Learn more from AARP: if you’d like more information, this article by AARP is a great resource for learning about the benefits of making a home inventory video.

If you are in the metropolitan Washington, DC area, Everyday Money Management can do a home inventory for you. We can create a video and take photos in a very short period of time, and then work with you online to annotate these. Call us at 301-801-2294 and get your home inventory done today!