You need to have a recorded inventory of your valuables in the event of a natural disaster, theft, or fire in your home. Of course, your list of valuables is likely to change over the years so you will need to ensure that your list is updated regularly.
To begin your list, start going through your home room by room and evaluate the valuables in each room as you go. Start off by simply making a rough list of each item. Once you have listed each item, you can always go back later and start assigning dollar amounts to them.
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In fact, in addition to a basic inventory list, you might also want to create a spreadsheet on one of your home computers containing these same items. This will make it very easy for you to make changes when you purchase or get rid of something. You should also make a back up copy of your inventory list and spreadsheet on a flash drive or cd because you never know when your computer might crash. Just don't forget where you put your backup!
It is most important that you list items that are worth in excess of 0 on your inventory sheet. Once you have everything listed and itemized, you will need to record evidence of your inventory with a video or digital camera. Make sure you upload all of the photos to your computer and label the file so you will remember where you stored them.
Once your inventory sheet is complete you will need to consult with your homeowners' insurance representative. You should provide this person with a copy of your inventory so he or she can evaluate your current coverage and determine if you need to add to it. It is important that you obtain adequate insurance coverage before some disaster occurs, so do not put this step off assuming that nothing will ever happen.
If you have difficulty determining the value of some of your items, try looking them up online to see what they are currently worth. You should also take some extra precautions when it comes to securing your valuables in your home. You should never assume that it is safe to leave your valuables lying around out in the open at home, even if you have a good security system in place. The reason for this is that it is impossible to know whether you might someday have a break-in.
To help keep your valuables secure at all times you might consider purchasing a safe to store some of your smaller items such as jewelry, passports, legal documents, and other valuables.
If you feel a little overwhelmed about trying to maintain your personal inventory, there are some other options that might make things a bit easier for you. There are some web-based inventory management systems which allow you to enter your valuables into their online systems for a modest fee (usually to per year). Choose an online inventory system that comes with guarantees of privacy and security.
If you are simply not comfortable with keeping an inventory of your personal possessions online, regardless of the security measures implemented, there are also some desktop storage systems you can use to keep track of your valuables. These are software systems that you purchase and install on your computer, similar to financial software, so the content is only contained on your computer and not on the internet. Prices on these systems generally range from to .
