When shopping for homeowners insurance, most consumers think about the value of the home, forgetting the importance of their prized possessions inside. When trying to determine the amount of coverage you need, it’s important to remember all the “stuff” that needs protection.

One of the best ways to ensure your possessions are fully protected is to document them with a home inventory. The National Association of Insurance Commissioners (NAIC) has made it easier than ever to create a home inventory by creating a free iPhone application called myHOME Scr.APP.book.

The app lets users photograph images, descriptions, bar codes and serial numbers. It then organizes the information room by room and even creates a back-up file for e-mail sharing. Click here for a video demonstration.

To download myHOME Scr.APP.book for free, visit the iTunes App Store or search “NAIC” in the app store from your phone. You can also print a simple home inventory checklist.

What should I include in my home inventory?

1. jewelry and fine art
2. family heirlooms
3. collections
4. furniture
5. everyday leisure items: flat-screen TV’s, custom guitars
6. commonplace items: toys, CDs, clothing
7. occasional use items: holiday decorations, sports equipment, tools, landscape art, swing sets

Tips to Complete a Home Inventory

1. Attach copies of original receipts and/or appraisal. Be sure to note model and serial numbers.
2. Group your possessions into logical categories, i.e., by room in your home.
3. Take pictures or videotape each item and document a brief description including age, purchase price and estimated current value.
4. Store your home inventory and related documents in a safe, easily accessible place such as a safe deposit box.
5. Review and update your inventory annually and whenever you make a significant purchase.