Inventory: do you know what you own?

How much insurance you need depends, in part, on contents. An up-to-date inventory is important to record items and their value in order to help your insurer, police and others in the event of a burglary or fire, for example. Some people like to make a drawer-by-drawer, room-by-room video recording of their possessions; some use a regular camera. An audio cassette recorder could be useful for making a spoken list of collections (books, tools, stamps, and so on); this would capture more detail than you could achieve with a camera. Hand-written or typed descriptions are also useful. Keep purchase receipts for major items. Store your inventory records in a safety-deposit box or other secure location. If you would like an inventory please reference our Residential Inventory Checklist.