The grandkids will have a good time helping out

Most people do not fully understand the value of having a completed home inventory. If you ever suffer a loss to your property, whether it is from a pipe breaking, a fire, or even a theft, you will be required to furnish a complete inventory of all damaged property to your insurance company. My professional experience has shown it is much easier, more effective and accurate if you have a home inventory completed, updated once a year, and stored for future use.

Get started now. The first few months of the new year are the best time for you and your family to do your annual inventory. After the holidays, you may have a variety of new possessions and gifts—jewelry, clothing, home electronics, etc. Take stock of your possessions while the memory of where they were bought and how much they cost is still fresh in your mind. Here are a few tips to get you started:

Prepare a home inventory list now before you have any loss. Include a description of each item, its age, replacement cost, where purchased and, if the item was a gift, indicate when you obtained it. Do the best you can. You will find that on the first go through you won’t remember everything, but as you revisit the list, details should start to pop back into your memory. Don’t forget to include items in the garage, attic, backyard, RV, boat or storage facility.

Be sure your homeowner’s insurance policy contains a Replacement Cost Endorsement for your contents. It only costs a few extra dollars per year and is well worth it. If you have any collectables, expensive jewelry, silver, stamps, etc., be sure to let your agent know this when purchasing insurance. It may be necessary to “schedule” some of the items so there is sufficient coverage. Your policy will most likely limit the amount for various items, so be sure to ask your agent to explain other coverages or options if you want to insure those valuables.

Use seasonal catalogs to help remember various holiday items that you had stored and not recently used. This can include Halloween, Easter, anniversary and other unique decorations that you only pull out once or twice a year.

Use your camcorder or digital camera to videotape your house or shoot photos to document your items. Go room by room. Be sure to open drawers and look in closets. Store the video or pictures at an off-site location, like your office, or save to an electronic back-up system. Use your written home inventory list as a script as you go through the house. If you know how, put your photos and video on a USB drive, DVD/CD disk or removable hard drive and then store them away somewhere safe—not in your house. Make copies and store them in a safe deposit box or with a member of your family.

Enlist the aid of your grandchildren, family, or friends. This is a big project. Assign each helper