An complete household inventory consists of:
• a description of each item owned (include model and serial numbers)
• the date you acquired it and how much you paid for it if you purchased it
• its current value.

The more detailed the information, the better. To complement your written record, you could include digital camera files, photographs, or videos. One method would be to film from one end of your house to the other, providing information and commentary on your possessions (this is also an opportunity to collect a family history).

A written record is easy to update. A copy should be kept in a safe place, such as a safe deposit box, in the event that your possessions are destroyed.

We would like your feedback on this Personal Finance Frequently Asked Question.