Is a Home Inventory Necessary?

What's Hot


2 Types of Black Marks Might Vanish From Your Credit File SoonBorrow

5 Surprising Benefits of Exercising Outdoors in WinterFamily

6 Ways the Obamacare Overhaul Might Impact Your WalletInsurance

7 Dumb and Costly Moves Homebuyers MakeBorrow

Obamacare Replacement Plan Gets ‘F’ Rating from Consumer ReportsFamily

Beware These 12 Common Money MistakesCredit & Debt

17 Ways to Have More Fun for Less MoneySave

This Free Software Brings Old Laptops Back to LifeMore

30 Household Uses for Baby OilSave

Nearly Half of Heart-Related Deaths Linked to These 10 Foods and IngredientsFamily

10 Ways to Save When You’re Making Minimum WageSave

Boost Your Credit Score Fast With These 7 MovesCredit & Debt

7 Painless Ways to Pay Off Your Mortgage Years EarlierBorrow

Considering a Fixer-Upper? 15 Ways to Avoid a Money PitGrow

This Scam Now Tops ID Theft as the No. 2 Consumer ComplaintFamily

6 Stores With Awesome Reward ProgramsFamily

6 Healthful Treats for Your DogFamily

6 Ways to Save More at Lowe’s and The Home DepotSave

20 Tips for Buying a Home in the Best Location, Location, LocationGrow

30 Awesome Things to Do in RetirementCollege

New Study Ranks the Best States in the U.S.Family

6 Overlooked Ways to Save at Chick-fil-AFamily

The Most Sinful City in the U.S. Is … (Hint: It’s Not Vegas)Family

House Hunters: Beware of These 6 Mortgage MistakesBorrow

Ask Stacy: How Do I Start Over?Credit & Debt

Secret Cell Plans: Savings Verizon, AT&T, T-Mobile and Sprint Don’t Want You to Know AboutFamily

10 Ways to Save When Your Teen Starts DrivingFamily

The True Cost of Bad CreditCredit & Debt

You’ll Soon Pay More to Shop at CostcoSave

Marijuana Stocks Flaming Out Under TrumpFamily

21 Restaurants Offering Free Food Right NowSaving Money

Nobody thinks it will happen to them. But every day in every city across America, families lose everything they have to fire, flood or other disaster. Of course, that's why we have insurance. But according to Stacy Johnson, there's one key ingredient that can hurt your ability to collect.

Every day in every city across America, families lose everything they have to fire, flood or other disaster. Of course, that’s why we have insurance, but without a home inventory, your insurance company might not pay for everything.

“I’m a fire restoration contractor and I go to on average 5 to 7 losses every day. And every single time I go to them… every single time… they say to me, ‘Man, I didn’t ever think this could happen to me. I just cannot believe this happened.'”
-Rich Connette, Property Loss Consultant

Of course, that’s why we have insurance. But according to Rich, virtually zero homeowners are prepared to make their insurance company pay.

“I’ve yet to meet one in 17 years that knew exactly everything that they owned. The insurance company wants you to write down everything… down to the sock.  If you don’t remember it, the insurance companies, they like that because that’s just less money that they have to pay out.”
-Rich Connette, Property Loss Consultant

Imagine if tomorrow morning you woke up to this. Could you remember every thing you had down to the last sock? Everything you forget is money you lose and your insurance company makes.

So here’s the most important thing you can do today: create a home inventory. One way is to download free software specifically designed for the purpose. Another is to videotape your possessions while dictating price you paid and date you bought them. If nothing else, at least take pictures of your stuff… all of it. Then store it on the web… in a safe deposit box… or at a friend’s house.

Bottom line? You can do something really simple today that could keep you from having a whole bunch of stress sometime down the road. So take a few minutes and do it.

To start your home inventory today, the Insurance Information Institute’s KnowYourStuff.org can help you create a home inventory for free.

Stacy Johnson

It's not the usual blah, blah, blah

I know... every site you visit wants you to subscribe to their newsletter. But our news and advice is actually worth reading! For 25 years, I've been making people richer without making their eyes glaze over. You'll be glad you did. I guarantee it!

💰🗣📰

Read Next: 7 Things Worth Paying More For

Check Out Our Hottest Deals!

We're always adding new deals and coupons that'll save you big bucks. See the deals to the right and hundreds more in our Deals section.

Click here to explore 2,027 more deals!