Home inventory list for an insurance claim: columns, RCV and ACV explained

A home inventory is a list of what you own, room by room. Before a loss, it is a precaution; after a loss, it is usually the core of the contents part of an insurance claim. A 2023 consumer survey by the Insurance Information Institute and Munich Re found that only 47% of homeowners surveyed had a home inventory. This article explains what a claim-ready inventory contains and how the numbers work.

What insurers usually ask for

The standard ISO homeowners form (HO 00 03, 2011 edition) asks, after a loss, for an inventory of damaged personal property showing quantity, description, actual cash value and amount of loss, with bills, receipts and related documents attached. Insurers may also ask for a proof of loss and may use their own form. Ask your insurer in writing which format it accepts before you start.

The columns that matter

Column	Content
Room or area	Where the item was
Category	Furniture, electronics, clothing, kitchenware
Description	Brand, model, size, color
Line type and quantity	A single item, or a grouped line with a count
Age	In years
Condition before the loss	New, good, fair, worn
Replacement cost per unit	Today's price for a new item of like kind and quality
Total replacement cost (RCV)	Quantity times unit price
Depreciation	Reduction for age and condition
Actual cash value (ACV)	RCV minus depreciation
Proof	Receipt, photo, statement, order history

Replacement cost, depreciation and actual cash value

Replacement cost is what it costs to replace an item without deducting depreciation. Actual cash value is replacement cost minus depreciation. A common way to estimate depreciation is the item's age multiplied by an annual rate, capped at a maximum. For example, with a 10% annual rate and a 50% cap, a 3-year-old sofa would show 30% depreciation. That example is only arithmetic: there is no single industry depreciation schedule, as United Policyholders notes, and insurers use their own methods. Enter the rates your insurer gives you in writing.

Many policies pay belongings at actual cash value unless replacement cost coverage was added. With replacement cost coverage, insurers commonly pay actual cash value first and the rest after you replace the item and send a receipt.

Building it room by room

United Policyholders, a non-profit, suggests working room by room, grouping items by category and using photos and purchase records to jog your memory. A pre-filled list of common items helps: keep what you owned, delete the rest, and add what is missing. For items you own in quantity, a grouped line with a count saves hours. Note where each proof is, and mark lines with no document honestly.

Before a loss

If you are preparing ahead of any loss, walk through each room with your phone, take photos and short videos, open drawers and closets, and photograph serial numbers. Save the files somewhere other than your home (cloud storage or an email to yourself) and update the list after big purchases.

After you send it

Keep a dated copy of every version you send, with a cover letter listing what is enclosed, and ask the insurer to confirm receipt in writing. When you receive the insurer's valuation, compare it line by line with your list and ask in writing for any document you need to understand it.

Rules after a disaster in some states

In California, after a total loss of a primary residence in a state of emergency, insurers must accept an inventory grouped by category where listing each item would be impractical, and cannot require their own form if yours has substantially the same information, though they may ask for reasonable additional information (Ins. Code 2061). After a covered total loss of a furnished primary home in a declared state of emergency, they must offer at least 60% of the contents limit, up to $350,000, without an itemized claim, and you may still file an itemized claim for losses above that payment, up to the contents limit (Ins. Code 10103.7; 60% version in force since January 1, 2026; for earlier losses the prior version applied: 30% of the dwelling limit, up to $250,000).

Putting it together

The Home Inventory for Insurance Claims turns these steps into ready-to-use files, with nothing pre-filled that should come from your records, your policy or your insurer:

• US_Home_Inventory_User_Guide.docx: step-by-step user guide with key terms, rules that may apply, sources and a final checklist.
• US_Home_Inventory_Contents_Inventory_TRACKER.xlsx: room-by-room contents inventory with RCV, depreciation and ACV calculated, summary by room and category.
• US_Home_Inventory_Claim_Diary_TRACKER.xlsx: claim diary: key dates with alerts, contact log, documents sent, payments received.
• US_Home_Inventory_Claim_Letters_TEMPLATE.docx: editable letters to request documents, information or time, to send documents, and to confirm conversations in writing.

Confirm the accepted format with the included letter, fill in the inventory room by room, check the summary for missing prices or proof, then send it with the cover letter and log it in the diary.

Quick checklist

• Accepted inventory format confirmed in writing.
• Contents limit and settlement basis noted in Settings.
• Every room completed; lines not owned deleted or marked Not affected.
• Every line has quantity, age and replacement cost with a price source in Notes.
• Proof noted for each line.
• Summary checks show no line without a price.