Keeping valuations current after changes
After buying a major item or getting an appraisal, update your inventory promptly so coverage and records remain accurate.
Steps to update:
- Edit the item entry with new purchase price or appraisal value
- Attach receipts, appraisals, and photos reflecting current condition
- Note the date and reason for the update in a change log field
Insurance and documentation:
- Notify your insurer if new purchases materially change your coverage needs
- Reappraise items periodically or after significant market shifts
Practical tips:
- Schedule annual reviews to capture multiple changes at once
- Use exported snapshots of the inventory for versioned records
Timely updates ensure your inventory remains a reliable tool for claims, resale, and estate planning.