Don't even bother with the spreadsheet unless you're compulsive. You won't
need the list unless you have a loss and if you do, you'll have your
photographic documentation. Besides, you're going to have to re-verify the
"going price" if you have a loss anyways so just do it once.
I took a picture of every drawer in the tool boxes, a picture off all the
stuff hanging on the walls. If I had a vidcam , I would have taken a
semi-narrated video. I had also done this with all the stuff in the house:
closets, appliances, furniture, art, etc... Also, did the cars and stuff.
I took the pix and burned it to two CDs. One in the house in a fire-proof
safe and one in the garage.
At 03/02/2004 at 16:17, Shakespearean monkeys danced on Wayne Farrington's
keyboard and said:
>Spent the better part of the last two days trying to update my
>tool/equipment inventory list to check insurance levels etc. I am
>currently using an excel spreadsheet which works ok, but I'm wondering
>if one of those home inventory programs might be better? Like the ones
>packaged with MS money or Quicken.
>
>I have a column for the item description, the value for a single item,
>quantity, extended value, purchase date etc. I am using categories like
>major equipment (drill press, welder), hand tools, supplies etc. Much of
>the stuff I don't have purchase dates for because I bought it long ago,
>or inherited it from my father. I've put guestimates for value on these.
>I originally did this list just from memory. I suspect I'm missing a
>quarter of the stuff I have in the shop. I've not opened every tool box
>drawer and checked to make sure it is on the list. I also have not been
>very disciplined about taking digital photos of said tools.(:
>
>I'm struggling a bit with how to value each of these items on the
>inventory list. If I buy a power tool on sale, do I put the sale price
>or the regular retail price? That value of course will change a bit over
>time. I do have replacement value insurance, but I was just wondering
>how to properly document this stuff?
>
>What are you guys doing in this area?
>
>As a side note, I also updated my race car/racing equipment inventory
>value list..... I sure hope my wife never finds either of these two
>lists!:)
Cheers!
|