When did you last perform a home asset audit?

Johannesburg - Despite ongoing pressure on household finances, recent StatsSA data[i] reveals that South Africans are continuing to invest in their homes. Sales figures from retailers specialising in household furniture, appliances and equipment increased by 8.8% year-on-year in April 2026, making the category one of the strongest contributors to retail growth.

So, while the average South African may not feel wealthier in 2026, many households are steadily accumulating value through electronics, furniture, appliances and lifestyle purchases.

“A new television here, a laptop upgrade there, a coffee machine, air fryer or portable power station added over time - it all adds up,” says Sherry Sibeko, Executive Head of Personal Lines at Miway Insurance. She adds that consumers often underestimate the total value of the contents inside their homes.

“Most people don't purchase all their household items at once. They accumulate them over many years, which makes it easy to lose sight of what everything would cost today to replace if it were stolen, damaged or destroyed.”

Sibeko believes a home asset audit is one of the simplest yet most overlooked ways for South Africans to ensure they remain adequately protected and that their insurance cover keeps pace with the value of their belongings.

“It is fairly standard to review your insurance when you buy a new vehicle or move into a new property, but household contents cover typically receives far less attention,” she explains. “This becomes particularly important as replacement costs continue to rise in South Africa’s inflationary environment. Replacing household contents after a burglary, fire, or other unexpected event can quickly become far more expensive than anticipated.”

Household items that are commonly forgotten

One of the biggest challenges when assessing household contents is that people frequently focus on their largest purchases while overlooking the many smaller items that collectively carry significant value. To maintain proper cover, insurers also require you to consider the value of your contents collectively, rather than item by item.

Sibeko says commonly forgotten items include laptops that rarely leave the house , gaming consoles, cameras, power backup devices, sporting equipment, jewellery, and premium kitchen appliances.

For homeowners who have embraced remote or hybrid working arrangements, reviewing home office equipment is especially important, as these items can represent a substantial investment.

When should you conduct a home asset audit?

While an annual review is a good rule of thumb, Sibeko recommends revisiting your household contents whenever there are meaningful changes to what you own.

This could include:

• Purchasing new furniture or appliances;
• Upgrading electronics;
• Receiving valuable gifts;
• Completing home renovations; or
• Investing in backup power solutions.

“Any time you acquire items that would be costly to replace, it's worth reviewing your cover to ensure it remains aligned with your circumstances,” she says.

Keep it simple

Conducting a home asset audit doesn't need to be complicated. Sibeko recommends working through your home one room at a time and compiling a basic inventory of major household items. Photographs, purchase receipts, warranty documents and serial numbers can all help create a useful record. Storing this information digitally can make it easier to access should it ever be needed.

“Protecting what you've worked hard to acquire is just as important as building your wealth – and a home audit is key in this process,” Sibeko concludes. “It not only helps you understand the value of your possessions and ensures your insurance cover keeps pace; but can also make the claims process smoother if an incident occurs.”