What is a home inventory and why do I need one?

A home inventory is a detailed list of all your personal belongings with descriptions, photos, serial numbers, purchase dates, and estimated values. It serves as the evidence you need to prove what you owned when filing a claim. Without an inventory, you may forget items or struggle to prove their value, leading to a lower settlement. Create a digital inventory using a smartphone app or spreadsheet. Store a copy outside your home, such as in a safe deposit box or cloud storage, so it survives a fire or flood.