Did you ever wonder, "What would I do if I lost everything I own?" Your personal possessions are something you have worked hard to acquire and you need to assure they are properly protected. But, this is easier said than done. Take a look around your home. If your family is like the average family there is lots of stuff. You may realize "Everything I own" has value. Estimates project that most families have a minimum of $10,000 worth of possessions. Imagine if you had to replace all that? Replace everything I own? Ouch!
This home was the dream home for Brad and his family. They had purchased five acres of land outside of Orlando and spent years making their plans for this home. They had designed every room with loving care. They picked out the appliances, the floors, paint, and all the light fixtures. It took them over a year to build this house.
They lived in the home one month. The investigation found that the drywall installer had driven a nail through an electrical connection. Poof! Everything was gone.
But Brad was an insurance professional, right? Oh, he had the insurance. Plenty of it. Everything would be replaced. No problem. All the insurance company needed was an inventory list of everything in the home. That list needed to include a description of the asset, date purchased, purchase price, current market value, serial number, make and model. Last but not least the insurance company needed to see the original receipt from the purchase. Really?! The original receipt?
Brad was well organized and managed his household very well. He did not, however, have a home inventory system.
Let me ask you something. Could you produce the original receipt for all the major assets in your home? Where is that receipt for the fine china you received as a wedding gift? Could you prove what you paid for your five-year old TV? How about your jewelry? Stop and think for a minute "Everything I own?"
Brad spent months, yes months, hunting down receipts. Remember, everything burned, including the receipts he did have. He ended up having to go back to stores where he purchased certain items. And remember, some stores are out of business, like Circuit City for instance. He paid an incredible amount in fees for the credit card companies to send him statements that were years old so he could prove the purchase price. It was a very bad situation for him. If only he had a home inventory system.
Thankfully it finally did get all straightened out. He rebuilt his home and they started over. But it took lots of his time and money to get there.
Have you ever lost everything and had to start from scratch? Did a fire, tornado, hurricane, or flood take everything from you? What was it like to deal with the aftermath. Did you have problems with the insurance company? Share this with us so we can all benefit!
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Could you recover from something like this? Living here in Florida, hurricane season looms large for us. As we remember from the experience with New Orleans and Katrina, it only takes one good storm to wipe out everything. Do you live in a place where you have to worry about natural disasters? What about tornadoes, earthquakes, and fires? Have you ever thought how you would recover from being robbed?
These situations show you why you need a personal home inventory system. You need to take care of "everything I own". This type of system would compliment a Home Filing System because it adds more detail regarding the possessions in the home.
A home inventory system can also be called a home inventory management system. How it actually functions in your particular circumstances will depend on how much inventory you have, it’s overall worth, and other circumstances such as location.
So what is the best way to go about this? Keep in mind we are talking about all your home inventory.
I have written a simple 5 step process for you to complete your home inventory, document "everything I own", cross reference by categories and items and make sure you can recover all your possessions.
Here are the 5 steps of this inventory process. Take each step independently and complete it. Don't skip around or skip steps altogether. Once you are through the process you will have your home inventory completely organized.
Have you done a personal home inventory? Share your tips and tricks with the rest of us!
There is a very easy way to get this done. Try the Easy-PIM Home Inventory System. With a few step by step instructions you will have everything documented, managed and safely stored in case you need it. Buy it now.
Before we start to talk about personal home inventory and how to do this, let's talk a little more about your inventory and how you may want to assess it.
As you will remember from my story of Brad, keeping details and knowing what you have is very important and will pay off if you have any type of emergency. Take a look at the Basic Inventory Considerations to get a good start on your home inventory.
In this discussion is a list in downloadable format to help get you started.
Its time to start documenting. This will guide you through the process of creating that documentation you will need for your home inventory. Make sure everything is complete and properly recorded in "everything I own."
Go to My Home Inventory
Do you have items of value in your home inventory? How about some antiques, or collectables, or original artwork?
Step 4 is all about getting good appraisals for your home inventory. The Do's and Dont's of appraisals.
Go to Home Inventory Management to learn more about appraisals.
Once you have a complete inventory list of all the property in your home, you will need to record this in a system.
Inventory systems are essential so you can have the documentation you need in case of death or disaster.
Go to Home Inventory System to learn how to put it all together.
When you look at the process of creating a home inventory, it looks like, and it is, a lot of work. However there are easier ways to get this accomplished.
Home Inventory Program
Maybe you would rather keep your home inventory on a computer and manage it from there. Fortunately there are lots of inventory software available on the internet. Take a look at the Easy-PIM Inventory System. This system is simple, easy to use, and very effective. And, you can buy it here.
Some of them are freeware and some can be pricey. Take a look at Home Inventory Program to see if one of the pieces of software may suit your needs.
Home Inventory Service
Another way to make this really easy is to get someone else to do it for you! There are several home inventory service companies available that will come into your home, conduct a through home inventory, give you a report, and some will store the information on their computer systems. Depending of how much inventory you have, these services can cost around $400, but would go up and down based on size of your home and inventory. If you think this is the way you want to handle this, visit Home Inventory Service and check out some of the companies.
So there you have it. A complete, easy to accomplish home inventory system that will help you manage all your personal possessions.
It is so important you complete this. I can't impress upon you enough how quickly we can lose everything. Please make sure you are ready with an inventory of "everything I own."