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The importance of preparing a household inventoryWithout looking, do you know how many pairs of shoes you own, when you bought them and how much they cost? Or, how many tapes, CDs or DVDs you have?That may seem pretty trivial, but if you lost some or all of your personal belongings in a fire, burglary or other disaster, would you be able to provide a list of everything that was missing? Probably not. That’s where a household inventory can help. A household inventory can provide you with a record of your household furnishings and belongings, when you purchased them and their original cost. Putting together an inventory involves just three basics steps: List all of your belongings, room by room. Record the serial numbers, purchase dates, purchase prices and estimated current value. If you have them, attach your receipts. Keeping receipts, canceled checks and appraisals can help you to prove ownership and value of expensive items such as stereo equipment, furniture, cameras, appliances and jewelry. Take photographs of your possessions to back up your written inventory. Take pictures of each wall of every room, with closet or cabinet doors open. On the back of each picture, write the date, contents shown and location. You may also want to videotape the contents of your home. Do a commentary on your belongings as you go from room to room. Store the inventory, photos and videotape in a safe place away from home. An obvious choice is a safe-deposit box at a bank. You may also want to keep a copy of your inventory at home so you can revise it from time to time—at least every other year. And, don’t forget to update your inventory to include new purchases! Contact your independent insurance agent if you have any questions. Your agent can give you a booklet for your inventory (ask for Form No. Z-18b), or send us a note and request a copy of our inventory booklet.
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