Family and Consumer Sciences

If you were asked to make a list of your possessions -- clothing, household furnishings and appliances, gardening and automotive equipment, jewelry, and so forth -- could you do it? It's not easy to do from memory.

But, if your home was destroyed or damaged, you would need to complete such a list to be compensated by homeowner's or renter's insurance. To recover stolen items or settle insurance claims, it's important to have a detailed list of losses, proof of ownership, and documentation of value. This information also can help if claiming losses on income tax returns.

A list of possessions can come in handy when estimating the market value for net worth statements and estate plans. It might serve as a reminder of heirlooms or other possessions that you plan to give to family members or others as gifts.

Household managers could take a clue from business managers -- who close up shop at least once a year to take stock of what they have -- and make a household inventory.

An inventory should clearly identify the item and include the brand name and a brief description of each item (color, size, style, features, dealer's name, etc.) Where applicable, also include the model, serial number, or other identification number.

The date items were purchased or acquired is needed to help identify the item as well as establish value. For used, inherited, gift, or other items not new when acquired, note date acquired and approximate age.

Several methods can be used to create a household inventory Be systematic and develop the inventory room by room. Don't forget to open closet doors and drawers, and check the attic, basement, garage, and automobile trunks.

A picture inventory might be a place to start. Still photos or a videotape would be a reminder of what was in each room.

A written inventory can be made using a loose-leaf notebook, with a page for each room. Photos could also be added. Another option is an electronic inventory using a computer. There are software programs available, or develop your own using a spreadsheet or word processing program.

Once the inventory has been developed, make several copies. Keep one copy in a safe deposit box. A home safe that is both fireproof and burglar proof is another option, but it may not be tornado-proof. Keep a second copy of the inventory at home. Ask if your insurance agent also wants to keep a copy on file.

It will take some time and effort to complete a household inventory. But once done, it will only be a matter of updating as items are acquired and marking off as items are disposed of. In the event of a loss a household inventory would be very valuable.

The Extension office has a publication on protecting your household possessions. It includes a sample inventory form which can be duplicated. The publication is available by stopping by the office on first floor of the courthouse or by calling (620) 223-3720. The publications can also be downl't www.oznet.ksu.edu/library/famec2/. Scroll down to the section "Getting Your Household in Order" and click on "Taking Inventory--Protecting Your Household Possessions."

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Editor's Note: Ann Ludlum is a K-State Research and Extension Agent assigned to Bourbon County. She can be reached at (620) 223-3720 or by e-mail at aludlum@oznet.ksu.edu.