How to Take Home Inventory

After years of accumulating numerous household items, many of us see creating a home inventory as a tedious task. But insurance, security and disaster-relief experts say it's worth the effort. According to the Federal Emergency Management Agency, giving a complete home inventory to your insurance agent after a natural disaster provides proof of ownership for property that has been lost. Creating an inventory is a simple process when you follow these steps.

Difficulty: Moderately Easy

Instructions

1. Make a list of your possessions. Include a description of each item on the list and attaching to the list any receipts or appraisals you may have for those items.

2. Take pictures. Taking photos of your home's contents and keep them with your home inventory. Keep the photos and inventory in a safe place away from your home, such as a safety deposit box.

3. Put your home's inventory on videotape and gain the advantage of being able to describe your possessions as you are taping.

4. Use software to make creating home inventory easier. Such software allows users to easily update inventory as items are added to and removed from the list. Several home-inventory software packages are available; however, the Insurance Information Institute offers free software through the website Know Your Stuff.

Tips & Warnings

• Compiling a complete home inventory can help people to get an insurance policy that more completely covers risks.
• Separate clothing inventory into categories, such as coats, pants and shoes. Document serial numbers for major appliances.
• FEMA encourages property owners and renters to schedule an appointment with an insurance agent to discuss the best way to protect possessions.

Resources

• Federal Emergency Management Agency.
• Insurance Information Institute.
• Insurance Information Institute free inventory software.