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The Value of a Personal Property Home Inventory

If your home were burglarized or damaged by a fire, would you be able to give your insurance company a complete list of all the items that were damaged, destroyed or taken?


Having an up-to-date personal property home inventory will help. Here are some home inventory tips:

  • List every item of value in your house.
  • Include the serial numbers of all items that have them.
  • Keep receipts, along with a description of the item.
  • Keep a detailed record of antiques, jewelry, major appliances and collector’s items.
  • Update your inventory as you acquire new items.
  • Consider including a video or photographs of the items in your inventory.
  • Keep a copy of your inventory in a safe deposit box or fireproof container, or give a copy to a trusted family member who doesn’t live in your home.

“Keep in mind that your homeowner’s insurance policy covers valuable items such as jewelry, furs, art and antiques, only up to set dollar amounts,” notes Kimberly Smith, a BB&T Insurance Services Family Risk Manager. “If the cost of replacing them exceeds these limits, you should consider scheduling your valuables.”

Your Wealth Management Advisor and BB&T Insurance Services Family Risk Manager can provide a convenient format for your inventory and can assist with a complete personal insurance risk management review, Smith points out.

This article originally appeared in the Summer 2010 issue of Wealth magazine.

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The information provided should not be considered as tax or legal advice. Please consult with your tax advisor and/or attorney regarding your individual circumstances.

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