One option to take inventory of your home is to hire the services of a professional company. Alternatively, you can choose to do this job yourself with the use of a home inventory booklet or a software that allows you to record your home inventory. Several individuals include digital photos, pictures, and video tapes while inventorying their homes.

Irrespective of the chosen method, you will require some basic information while creating the home inventory. These include the description, brand or model number, the serial number, and the condition of the item.

Moreover, a record on the cost of buying the item must be included. Insurance companies pay against your claims based either on a replacement value or on the current value. Based on the insurance provider, you will require details, such as the purchase price, replacement cost, current value, and the date and location from where the item was purchased.

In addition, to provide more weightage to your home inventory, it is advised that you include pictures or tapes of the items to see the status of the inventories. It is important to note that some programs provide you the option to import digital pictures to store the photographs of every item. Most of these software enable users to backup the data on a disc and take a printout for safe-keeping in a locker, office, or with a friend.

How to conduct your home inventory

The following procedure must be adopted to commence your home inventory process.

Take a stock of every room in your house in a systematic method.*

Make a list of every item placed in the room, which includes desks, drawers, closets, and all other items.

Using the above-mentioned tips, include a detailed description of every item found in the room.

When you've finished all the rooms in your house, don't forget the garage, patio, outside buildings, etc.

After inventorying the rooms, follow the same procedure for the garage, patio, and outdoor buildings.

*Often there is a temptation to record only the high-value items in a room and move on to the next room. However, it is important to note that small items can add up to a substantial amount. Moreover, you may forget these smaller items in the catastrophe of a huge disaster that may destroy your entire home.

What's next?

Once you finish making a list of all the items in every room, you are aware of your possessions and their value. The next step is to review your home insurance cover. You must determine if you are over-insured or under-insured. This can be easily achieved by comparing the policy amount with the total value of all your household items.

Another important point that you must remember is that it is unsafe to store this list of your home inventory within your home. You risk losing the list along with the other items in case of an untoward accident. You can store your home inventory information in several formats, such as a list, disc, cd-rom, paper report, pictures, or any other method. However, be sure that the information is stored safely in another location, which can include your office, a friend’s house, or a safe-deposit locker.

Don't put it off!

After reading this article, you may be considering creating your own home inventory list. Don’t delay the process and start while it is still fresh in your minds.

For those individuals who have just moved in a new home, it is simple to create a home inventory list and is good time to start organizing your home inventory. However, if you have been living the same house for a few years, the task may take some time. Therefore, it is important you start planning your home inventory. Taking the inventory of at least one room in this week should be targeted. Then continue this process until you complete all the rooms and other areas of your home.