How-To: Take Stock of Your Home

This spring, as many homeowners are cleaning, there is no better time to take stock of your belongings. Putting together a home inventory can help individuals and families track important items in the event of a future loss.

"Unfortunately, you never know when a disaster may strike and you might suffer the loss of a home," says Mitchell H. Jawitz , vice president, personal lines marketing at The Hanover. "In that time of need, it's difficult to recall all of the personal items one may have lost. Having a home inventory can help you to replace everything in your home in a fast and efficient way if you have a covered loss."

Tips for creating a home inventory:

• List Everything: First, go through each room, listing major items. Include purchase date and price, if known. Save, store and make copies of receipts –keeping them outside of your home. Include serial numbers for appliances, electronics, and cameras.
• Take Photos or Videos: Open all closet and cabinet doors. Stand in the center of each room and take one picture of each wall or scan the room with a video camera.
• Let Technology Help You: Visit Hanover.com to find a link to the Insurance Information Institute (III)'s program, Know Your Stuff, which allows you to use your computer or smartphone to inventory your possessions and store it in a safe online account. 

Once the home inventory is created, it is best to keep it up to date. List and photograph new purchases and gifts as they arrive in your home. Delete items you no longer own.  Make it a habit in the spring and the fall. And, it is good practice to check in with an insurance agent about whether items on the list are insured. Some homeowners' policies will have limited coverage on jewelry, collectibles, or other expensive valuables. These items need to be insured separately. An independent insurance agent can offer valuable advice and help you distinguish between what is covered and what is not.