How to take an inventory • Create a spreadsheet or list to track all of your items. Big ticket items should include a description, quantity, model/serial number, year purchased, place purchased and cost. Make sure all valuable items have backup such as receipts, appraisals or serial numbers for electronics and appliances. Keep sales receipts and/or canceled checks. • Take digital photographs of the items on your list and store them with your checklist or computer file. Hartman recommends starting with the outside and documenting tools, furniture and contents of storage sheds. Then move into the garage and finally into the house. She usually takes approximately 75 pictures per 1,000 square feet. • Include overview shots of each room and closeups of any big-ticket items. • For smaller items you can list by category or room. For many items like books, CDs, bed sheets or pots and pans, you can make a general estimate of how many you have.
Hartman also recommends documenting contents of your cabinets, drawers and closets. Take overview shots of the bookcase, pantry and linen closets. If you have higher-end items, for example, Cross pens and expensive calculators or tools, empty your toolbox or drawer and take one photo of its contents. • For clothing, count the items you own by category — pants, coats, shoes, for example — making notes about those that are especially valuable. Put a representative outfit together and take a picture. • Remember to include in your home inventory those items you rarely use (e.g., holiday decorations, sports equipment, tools, etc.). • For more valuable items — jewelry, family heirlooms, antiques, art — consider purchasing an additional floater or rider to your policy. These items may also need an appraisal. Sources: National Association of Insurance Commissioners, Hartman Inventory and apartmenttherapy.com.
cashtalk
May 2010 • she magazine
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