How do I inventory my house?

People lose millions of dollars each year because they do not prepare for water damage, fire, burglary, or some other type of disaster.  In order to ensure that you possessions are protected, you need to follow a couple of steps.

STEP 1: Keep accurate records.  You need to make sure that you keep track of the items in your home.  Your records need to include a description of the item, model number, serial number, original purchase date, and original purchase price. 

STEP 2: Keep receipts.  Keep as many receipts as possible.  This is a good way to show ownership of the product.  The receipts will show the original purchase date, original purchase cost, and the serial number.  You insurance company will want proof that you owned the items.

STEP 3: Take photos or video tape.  Another good way to show ownership is by videotaping or taking photos of the items in the house.  For items of high worth, you can take individual close ups.  For smaller items and furniture, you can take photos from several angles of the whole room to get full exposure. 

STEP 4: Have two copies of your records.  Make sure that you keep a record inside the house and one outside the house.  The perfect place outside the house is in a safety deposit box at a bank.  Surprisingly, these boxes are fairly inexpensive.

To better help you get started I have included a copy of the Home Inventory Document I created.  This document not only allows you to inventory your home, it also includes a part for you to keep track of your homeowner’s or renter’s insurance information.