How to Take Inventory of Your Possessions

Make a permanent record of your possessions for insurance purposes, in case of theft or loss due to a natural disaster.

Instructions

Difficulty: Easy

Things You’ll Need:

• Safe-deposit Boxes
• Notebooks
• Pens
• Cameras

1. Divide possessions into two categories: "theft-prone" items and "other" items.
2. Make a list of theft-prone items and record serial numbers.
3. Mark theft-prone items with your Social Security number or other identifying mark, using an engraving tool.
4. List all other items and include brief descriptions.
5. Take photographs of items.
6. Invest in adequate insurance - home owners' or renters' insurance coverage.
7. Put the completed inventory in a safe place outside your home, such as a safe-deposit box.

Tips & Warnings

• Most insurance companies have specific inventory formats to simplify processing of claims.
• Include mundane possessions such as linens, clothing, kitchen utensils and decorations when taking photos of your possessions. The cost of replacing these items can add up if they're not insured.
• Update the inventory regularly to include new acquisitions.
• Talk to your insurance agent regarding coverage of valuables that may require extra policy "riders."
• Protect possessions from theft by installing locks on all doors and windows.