Frequently Asked Questions

Answers to common questions about home inventory and business asset inventory services

A Home Inventory is a comprehensive accounting and documentation of the personal property that is located in your residence. A Home Inventory report is supported by digital photographs, printed documentation and can include video (optional service). Personal property stored outside of your home, such as in a storage facility, should also be considered.

For a home your list should include: furniture, jewelry, artwork, antiques, appliances, kitchen contents, clothes, carpets, drapes, computer equipment, electronic equipment, musical instruments, clocks, mirrors, linens, lawn mowers, snow removal equipment, tools, sporting goods and any other items of value.

A Business Inventory is comprehensive accounting and documentation of the fixed assets of a singular business address or location. In the event of multiple offices or locations, each location requires a separate inventory and documentation. A business inventory should include office, computer and electronic equipment, furniture, machinery, vending equipment, cash registers, security equipment, and any other items of value.

Our services do not include merchandise or stock inventory services for retailers.

A detailed asset inventory is an essential tool for any home or business owner in the event of fire, flood, theft, natural disaster or loss of any kind. In addition, an asset inventory is a valuable tool for estate planning purposes, divorce or prenuptial agreements or asset liquidation.

Our comprehensive asset inventory report provides you with:

  • Essential Insurance Documentation to maximize recovery after a loss
  • Written and Visual Archive of your personal property or business assets
  • Proof of Property Ownership for your insurance company
  • Documentation of Stolen Property to assist with the return of stolen property
  • Estate Planning Documentation
  • Pre-Divorce Inventory to help provide an equitable division of marital assets
  • Moving or Storage Records of your property
  • Prenuptial Inventory to document non-marital assets
  • Asset Documentation to assist with Business Valuations

The short answer is yes you can, and if you have the time, equipment, necessary software and data storage capabilities you certainly should create a property inventory for your home or business. But the fact remains that over 80% of home and business owners do not have a detailed asset inventory of their personal or business property.

Conducting a detailed home or business inventory is a very time consuming task and even though we all know it’s a good idea, most people do not have the time to do it themselves.

A professionally documented home or business inventory adds credibility to insurance claims, police reports, divorce cases and estate settlements. Our inventory services are efficient, comprehensive, affordable and confidential.

Since we will be photographing your home and documenting the contents, it would be a advisable to have the interior clean and orderly.

We suggest you make available all personal property of value in your home paying special attention to high-value items such as fine furniture, antiques, collectibles, art, jewelry, musical instruments, hand-made rugs or other valuable items, as well as any appraised property already listed on your insurance policy. It would be beneficial to have your homeowners’ insurance policy available so we can properly document any item that is appraised and listed on your policy and make record of any pertinent receipts. This will help you determine if an item should be added to your policy rider that isn’t currently covered.

An average size home or office (up to 2000 sq. ft.) can be inventoried in just a few hours. Larger properties, extensive collections, specialty inventories, outbuildings, garages, basements and attics, depending on their contents, would require additional time.

Because we are prepared to document your assets quickly and efficiently, our services are surprisingly affordable. In addition, you can customize our services to meet your particular needs.

Yes, we do require that the owner or an authorized representative be present while we are working in your home or business. Since we will be gathering information on property that you own, your presence is necessary so you can provide necessary information for each item documented.

No, we do not move furniture or any heavy items. We will obtain make, model or serial numbers from electronics, computers and appliances if they are easily accessible without moving furniture or heavy items. We can collect the model & serial numbers from your owner’s manuals, product documentation or sales receipt when available. Heavy items will be documented and photographed in place.

We can inventory anything that you may require; however, we generally only inventory items that you determine to have significant value. In an effort to preserve privacy we will only photograph the inside of closets, boxes, cabinets, dressers and drawers at your specific request. If you have extensive apparel collections, expensive suits, dresses, coats, shoes or purses that you would like to be included in your inventory report, please have them readily available to be photographed.

Your property inventory will include digital photographs, digital video (optional service) and will be electronically cataloged using special software. Property photographs will be uploaded to our inventory software and be integrated with detailed descriptions, location, make, model & serial number (if available). Once your inventory is complete, we will create, and provide you with, a digital copy of your inventory on CD as well as a printed inventory report for your records.

There are a few things that you should do immediately after receiving your inventory data.

  1. Download the digital inventory report (CD version) directly to your PC.
  2. After downloading to your PC, you should store your inventory CD in a safe, offsite, third party location. A bank safety deposit box is a good option as well as a trusted friend or relative that does not live in your immediate area.
  3. Online Storage – another option for offsite storage is to upload your inventory data to an online cloud storage account. These accounts can provide safe and secure storage of digital files.
  4. Lastly, we suggest that you keep your printed inventory report in a safe location so it will be readily available if and when you need it.

We also suggest that you update and maintain your property inventory on an annual basis. We offer affordable service plans that can update your property inventory annually making sure that you are properly protected.

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Top Reasons You Need a Detailed Property Inventory

Fire Damage

Each year fire damages more than 384,000 homes in America. Don’t get caught without an inventory.

Insurance Documentation

You buy insurance to protect your assets; doesn’t it make sense to have a documented inventory to support a claim?

Moving and Storage

Before hiring a moving company or placing property in storage, make sure you have a complete inventory record.

Theft or Loss

According to FBI statistics, a burglary occurs every 10 seconds. That’s over 2,000,000 homes annually.

Estate Planning

A detailed inventory can provide your executor with guidance on how to distribute your assets and property.

Prenuptial Agreements

A detailed inventory of pre-marital assets can help define non-marital property and limit future uncertainties.

Natural Disaster

Tornados, floods, hurricanes and other natural disasters account for $43B in damage every year.

Divorce or Separation

A well-documented inventory of personal assets can streamline valuation and distribution of marital property.

Business Valuations

Creating an inventory of tangible business assets can assist in determining the valuation of a business.
Home inventory and business asset inventory services Lake County IL

WILL YOU BE PREPARED WHEN DISASTER STRIKES?

Would you be able to provide proof of ownership and value to substantiate your insurance claim? After the fact can be a challenging time to reconstruct this information. The best time to do an inventory is now! Don’t wait until it’s too late. Our efficient, professional service is here to help you.

SCHEDULE A FREE CONSULTATION

See What Our Clients Have to Say

“I have been an insurance agent in Illinois for over 30 years and I urge all of my clients to create and maintain a detailed inventory of their personal and business property. I highly recommend Spyglass Home Inventory service to all of my clients!”

Scott R.
Insurance Agent

“We just lost our house to a fire in April, and we can’t stress enough the importance of an inventory, which we didn’t have. It’s been 4 months, and we will be wrangling with our insurance company for a long time yet. They really don’t care about you. We’ve been living in our leaky pool house garage because they won’t pay living expenses until they settle.”

Julia H.
Fire Damage Victim

Spyglass Home Inventory offers Home Inventory and Business Asset Inventory Services throughout Chicago’s North Shore suburbs including both Cook County and Lake County in Illinois. We provide our residential property inventory, business asset inventory, asset protection inventory, estate planning inventory, divorce inventory and prenuptial inventory services to families and business owners in Barrington, Barrington Hills, Deerfield, Deer Park, Glencoe, Glenview, Grayslake, Gurnee, Hawthorn Woods, Highland Park, Highwood, Inverness, Kenilworth, Kildeer, Lake Bluff, Lake Forest, Libertyville, Lincolnshire, Long Grove, North Barrington, Northbrook, Park Ridge, Vernon Hills, Wilmette, Winnetka and other Northern Illinois communities.

Home inventory and business asset inventory services lake county il