Living in Hollywood, FL, we understand that protecting your home is a top priority. When disaster strikes—like a severe Florida storm, fire, or theft—filing a homeowners insurance claim can be stressful. The fastest and smoothest way to get your claim paid is by having clear proof of all your belongings. That’s where a home inventory video comes in. This simple video record of your possessions can save you time, stress, and potentially thousands of dollars when it’s time to file a claim.
- Key Takeaways from "Home Inventory 101"
- What is a Home Inventory Video and Why is it So Important?
- How Can a Video Make Your Claim Faster and Easier?
- What are the Steps to Create a Perfect Home Inventory Video?
- What is the Best Way to Film My Possessions?
- How Often Should I Update My Home Inventory?
- Home Inventory FAQs
- Conclusion
Key Takeaways from “Home Inventory 101”
- A Home Inventory is Essential for Claims Success: The most crucial point is that a detailed home inventory (a list and visual record of your possessions) is the single most effective tool for ensuring a successful and fair homeowners insurance claim after a loss like a fire or theft.
- Video Provides the Best Proof: Using your smartphone to create a video walk-through is the easiest and most powerful way to document your belongings. This visual proof is much stronger than just a written list because it provides undeniable evidence of ownership and the condition of the items before the loss.
- Prevent Delays and Underpayment: The primary reason claims are delayed or underpaid is due to insufficient documentation. A complete video inventory significantly speeds up the claims process by allowing you to quickly provide the detailed information (like makes, models, and serial numbers) that the insurance adjuster needs.
- Simple Steps for a Great Video: When filming, remember to:
- Go room-by-room, including closets, attics, and garages.
- Use narration to describe items, especially expensive ones.
- Film close-ups of serial numbers and any receipts or appraisals.
- Open drawers and cabinets to document contents like clothes and dishware.
- Store It Safely (Off-Site): The inventory must be stored somewhere that won’t be destroyed in the same event that damages your home. The best way to store it is digitally in the cloud (Google Drive, Dropbox, etc.) or on an external drive kept at a separate location.
- Update Regularly: It’s important to update your inventory at least once a year, or immediately after buying any new, high-value items, to ensure your record is always current.
- Proactive Protection is Key: By creating this inventory, you move out of the majority of homeowners who are unprepared (less than half have an inventory) and you take a simple step to protect yourself financially from stressful losses that can lead to large claim payouts (e.g., the average fire claim is around $77,340).
What is a Home Inventory Video and Why is it So Important?
A home inventory is a detailed list and visual record of all the personal property in your house, which you can create using your smartphone. This record is important because after a major loss, it can be nearly impossible to remember every single item you owned, from the big-screen TV to every shirt in your closet.
Why is an inventory key for a successful claim?
The main reason an insurance claim gets delayed or underpaid is often due to insufficient documentation of lost or damaged items (Source: Palker Law Firm). Insurance companies require proof of ownership and value to reimburse you. A home inventory video provides undeniable visual evidence of your possessions before the loss occurred.
The average homeowner’s property damage claim from 2016-2020 was around $13,962 (Source: Policygenius). For major events like fire and lightning, the average claim payout is much higher, around $77,340 (Source: Policygenius). With so much money on the line, you want to make sure you get the full amount you deserve, and a detailed inventory is your best tool for this.
How Can a Video Make Your Claim Faster and Easier?
Does a Home Inventory Really Speed Up the Claims Process?
Yes, a well-prepared home inventory, especially a video, can significantly expedite and simplify the claims process (Source: Florida Peninsula Insurance). By having a clear, room-by-room video, you can quickly provide your adjuster with the detailed information they need, reducing the back-and-forth and preventing delays.
Imagine your home is broken into. Without an inventory, you have to try and remember every piece of jewelry, every electronic device, and even small things like tools in the garage. This is hard to do under stress. With a video, you can look at the footage and instantly identify what is missing.
- Proof of Existence: The video shows you owned the item.
- Proof of Condition: It shows the item’s condition before the loss.
- Faster Submission: You can quickly hand over a comprehensive list, which is often a key document the adjuster needs to start valuing your loss.
What are the Steps to Create a Perfect Home Inventory Video?
Creating this vital document is easy and can be done with a standard smartphone camera. Taking it room by room breaks the task down into manageable parts.
What is the Best Way to Film My Possessions?
1. Go Room-by-Room: Start in one room and finish it completely before moving to the next. Don’t forget areas like your garage, attic, basement, closets, and patio.
2. Turn on All the Lights: A clear video is a helpful video. Make sure every room is well-lit so details are easy to see (Source: Your AAA Network).
3. Film with Narration: As you walk through your home, talk about what you are filming. State the room you are in, and for important items, describe them out loud. * Example: “This is the living room. Here is our 65-inch television, purchased last year. Here are the leather couches we bought five years ago.”
4. Focus on Valuable Items: Stop and take close-up shots of expensive belongings. If you have any receipts, appraisals, or original boxes for high-value items like art, jewelry, musical instruments, or specialized electronics, zoom in on those documents.
5. Open Drawers and Closets: Insurance covers the contents inside these spaces too! Open cabinets, drawers, and closets to film clothes, dishware, silverware, and other stored items (Source: Texas Department of Insurance). For common items like clothing, you don’t need to film every single shirt; you can just list the quantity, such as “eight pairs of jeans and 12 button-down shirts”.
6. Capture Details and Serial Numbers: For large appliances, TVs, computers, and other electronics, make sure to capture the make, model, and serial number. This information is crucial for accurately valuing the replacement cost.
How Often Should I Update My Home Inventory?
How Frequently Should I Update My Video?
You should make it a habit to update your home inventory at least once a year or immediately after purchasing any new, expensive items (Source: Your AAA Network). Set a yearly reminder on your calendar to re-film or update your written list.
It’s easy to forget about new purchases. For example, if you buy a new piece of fitness equipment or an expensive new laptop for school, a quick five-minute video update will ensure these items are covered and documented if a loss occurs. The goal is to always have a current record of your belongings.
Home Inventory FAQs
What Happens if I Don’t Have a Home Inventory When I File a Claim?
If you don’t have a home inventory, you will still file a claim, but you may experience significant delays and you might receive a smaller settlement because it is your responsibility to prove what you lost (Source: SelectQuote). Having to manually create a list of everything from memory after a stressful event can be mentally exhausting and you will likely forget to list many items.
Does a Home Inventory Prove the Value of My Items?
The video proves that you owned the item. To prove the value, you should keep any original receipts, contracts, or professional appraisals for expensive items, such as jewelry or collectibles (Source: Virginia Farm Bureau Insurance). Store copies of these documents digitally with your video inventory.
Where Should I Keep My Home Inventory Video?
The most important rule is to store your inventory somewhere outside your home. If a fire destroys your house, you don’t want your proof to be destroyed too. Good options include:
- Uploading the video to a cloud storage service (like Google Drive, iCloud, or Dropbox).
- Saving it on an external hard drive kept in a safety deposit box or at a trusted family member’s house (Source: State Farm).
What Percentage of Homeowners Have a Home Inventory?
Fewer than half of homeowners have an inventory ready. According to a 2023 survey, only 47% of homeowners said they had prepared an inventory of their possessions to help document losses (Source: Insurance Information Institute). This shows that most people are leaving themselves vulnerable to a difficult claims process. By creating your video today, you are putting yourself in the smarter, prepared minority!
Conclusion
Preparing a home inventory video might seem like a chore now, but it is one of the best forms of protection you can give your family and your future self. In the event of a covered loss—whether it’s a small theft with an average payout of around $4,415 or major water damage averaging $11,650 (Source: Policygenius)—this visual proof ensures you can move forward with confidence and receive the full benefit of your homeowners insurance policy.
Don’t wait for a disaster to discover that you’re not fully prepared. Take 30 minutes this weekend to film a walk-through of your home. It’s a simple step that can make a world of difference.Ready to review your current homeowners policy or have questions about what is covered? Contact Finney Insurance, your local Hollywood, FL insurance experts! We can help ensure your coverage limits match the value of your possessions and your newly documented inventory. Give us a call or stop by our office today!
