everything you own in your living room. That's the list you'll have to work with if a disaster destroys the contents of your
living room. Since most people have a hard time recalling exactly what they have in every room of their house, a
documented home inventory helps to easily identify exactly what was lost. Insurance experts say taking full, detailed
inventory before disaster strikes is the best way to protect everything you own in the event of a disaster. If your home
insurance policy has replacement value coverage designed to restore your home to its pre−disaster condition, you may not
get all you are due if you don't know what you own. An inventory is also necessary for reporting tax−related losses. It can
also help you determine the value of your belongings and, with that, your exact insurance needs. Today, technology makes
taking inventory easier than ever and, by using some of the latest technologies, creating, storing and updating a home
inventory is easier than ever.
Taking inventory
To take a complete inventory for each item, whenever possible, include:
· Item name and quantity.
· Description of the item.
· Manufacturer or brand name.
· Serial number or model number.
· Where the item was purchased or obtained.
· Receipt or proof of purchase.
· Date of purchase or age.
· Current value and or replacement cost.
Next, provide an additional documentation of everything your own by creating visual images of your belongings. If you're
doing a digital video inventory with a motion or still camera, start in one corner of the room and work your way around until
you cover the whole room. Don't forget to inventory closets, the attic, the basement and other storage areas. Don't forget to
include items such as mattresses, luggage, clothing, small appliances, sports equipment and garden tools. Even carpets,
drapes and flooring should be listed on the inventory list and photographed. Update your inventory list and image files after
your make new purchases. Store your inventory in a safe place, away from the insured property. If disaster strikes and your
list is at the disaster site, it could be destroyed. A secure Web server provides you with the means to store your inventory
away from home. Digital photographs or videos can be uploaded into cyberspace for safekeeping. Internet service providers
often include free Web space. Using digital technology to create and store a home inventory also helps speed the process
when it's time to update your inventory once a year or after subsequent purchases. In the event of a fire or other household
catastrophe, an inventory is only as good as its most recent update. You can visually document your inventory without using
digital technology. Conventional photos can be developed and delivered on a compact disc. Older 16 millimeter and
videotapes can been transferred to digital−video−discs (DVDs). Tax experts suggest using the same inventory−taking
techniques after a disaster to record the damage and to compare the condition of your home to its pre−disaster condition.
Steve Hoogenakker, CIC Midwest, Multi Housing Association, CAI Minnesota, Showcase Landscape, Delano Minnesota, Minnesota
