Insurance Insights – July 2025

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Any large-scale loss of property is devastating. However, if you’ve taken an inventory of your personal belongings, it can make the process of recovery and filing an insurance claim much easier.  A detailed inventory will help ensure your settlement comes close to covering your actual loss.

To make a claim under your insurance policy, you need to be able to report what has been lost, stolen, or broken. If you are unlucky enough to have suffered a devastating loss event, such as a flood or fire, you could be facing the prospect of having to account for all your worldly possessions.

Even if you don’t think you own a lot of things or that they’re not expensive, think again. Look at your home, apartment, or condo from the perspective of a total loss. What if everything were gone and you had to start over? You might get an approved claim from your insurance provider. But will it cover all that you own, from your entire wardrobe to your custom drapes? Are your coverage limits high enough to replace everything at current market prices?

Creating a comprehensive inventory of all your possessions is a daunting task even before a loss. It’s unlikely you’ll remember everything if you wait until after the loss to make an inventory. It’s even less likely that you’ll remember supporting details, such as model numbers and brand names. Keep in mind that any delay in getting information to your insurance company will hold up the settlement of your claim.

You can create a handwritten list of your items if you prefer, but there are tools available to make this task easier and quicker.

Photographs are a great way to quickly record many items. They’re also helpful for accurately capturing the condition of your items. Take pictures of serial numbers and model numbers for the most accurate representation of your property. (This can also be useful for documenting proof of any household item warranties.)

Applications specifically designed to help with home inventories are available for download. Choose one with positive reviews and the proper privacy settings. Don’t include your home address!

When compiling your inventory, gather all receipts and other relevant documents. Even if you don’t have the original receipt for your beloved flat-screen TV, the manufacturer’s warranty or operations manual might still be useful if you ever have to make a claim. All too often, these documents end up in a drawer in the kitchen or languish in a box in the attic or basement. Gather all those documents now and save yourself a headache later.

Once you have completed your inventory, store it off-site. This will ensure that even if you cannot gain access to your home, you can still get to your inventory.

• Provide your insurance company with a copy of your inventory to help with the claims process.
• Place a copy in a safety deposit box, along with any supporting documentation.
• Keep a digital copy in the cloud, along with scans or photographs of useful documents, such as receipts.

Even if you have a reasonable idea of what your more expensive items are worth, you might be surprised to learn the total value of your clothing, dishware, or jewelry. You could vastly underestimate their value and remain underinsured. This can result in a very unpleasant surprise if you should ever suffer a total loss.

When you provide BayCoast Insurance with a detailed inventory of your personal belongings, they can alert you if you need extra coverage for high-value items. You’ll have the peace of mind of knowing you are covered if the worst happens.

Start your home inventory today. Remember, even a partial list is better than no list at all. Your insurance professional is there to help draft your list and suggest digital tools that can make the process easy for you.

If a fire or another disaster destroyed your home, would you be able to account for all your belongings? Probably not. It’s hard enough to recall everything you own in normal situations, but it’s even more challenging when tragedy strikes.

An up-to-date home inventory makes filing an insurance claim much more manageable.

Creating a complete inventory of your possessions might seem overwhelming, but there’s good news – technology can turn this tedious chore into a much easier activity.

The best home inventory apps make it simpler and more intuitive to categorize your possessions and sort items by room.  Scannable barcodes and QR codes help you upload photos and videos of your property. And you can add new purchases throughout the year, so you’re always up to date.

Your inventory is automatically backed up in the cloud, ensuring it remains safe even if you lose or damage your devices.

Here are a few options to get you started, courtesy of Apartment Therapy:

• Encircle Home Inventory
• Sortly
• Skyware Inventory
• Itemtopia
• Blue Plum Home Inventory
• Nest Egg – Inventory
• NAIC Home Inventory

Cybersecurity and data sharing considerations may influence your decision when selecting a home inventory app. Its preview page will have a “data safety” or “data linked to you” section. It should provide an overview of its data collection and cybersecurity practices, as well as whether it shares your data with other companies. Be sure to do your homework, so you can choose the best inventory solution for your unique needs.

In addition to helping you organize, document, and track your belongings, inventory apps also help you calculate the value of your items. Once you know the value of your belongings, you can choose coverage limits with greater confidence. (Remember to include the stuff you have in storage or other locations.)

Keeping your home inventory up to date is essential. Review your inventory annually to ensure it accurately reflects your insurance needs. As you purchase new items, add them to the app. When you downsize, delete items you no longer own from the app.

If taking an inventory still feels overwhelming, consider hiring a professional home inventory company. You can also call your insurance agent and see what services they offer.

You can’t predict the future, but you can protect your most precious belongings with a comprehensive home inventory. Contact your insurance broker if you have questions. They can also help you explore other ways to safeguard your home from damage or loss.