Standing in front of a group of people at a networking event, I confidently and proudly state that I am an Asset Inventory Specialist. Before continuing to describe my business, I wait a few seconds to receive feedback via facial expressions.
This exercise immediately tells me a few things about my fellow business owners at the meeting. It is obvious who really knows what an asset inventory specialist is. Usually these are the insurance agents, accountants, and financial planners in the group. Also, savvy business owners nod their heads, appreciating the fact that they know and have hired an Asset Inventory Specialist.
It is also quite apparent who has no clue what I do, as they either have a blank stare or quizzical expression they are sharing - usually unknowingly - with me.
Often, rather than telling about my home and business inventory company, I will tell them what I do, instead. This actually explains a personal property inventory business, and also removes any questions about what I inventory and what I do not. Understanding the difference makes it much easier for people to refer the proper type of inventory company to meet the needs of a specific potential client.
AN ASSET INVENTORY SPECIALIST DOES NOT:
Hang tags and record items that are waiting to be sold in retail stores.
Provide you with the annoying beep-beep-beep of the retail scanner.
Count bubble gum and other consumable goods in convenience stores.
Count and record the raw materials coming into a manufacturing facility.
Count and record the finished product leaving a manufacturing facility or distribution center.
AN ASSET INVENTORY SPECIALIST DOES:
Create a document that helps assure financial security.
Develop relationships with their clients.
Create a video or album of digital photos of the personal property.
Count and record the contents of homes and businesses.
Create a detailed list of many items in the home or business.
Understand all the reasons for a home or business inventory.
Provide updates to the previously created document.
Work with after-loss clients to help them lessen the loss they are facing.
Asset Inventory Specialists do not count and record consumables. Their focus is protecting assets through the process of insurance claim recovery, remembering and proving what a business or a company owns, helping people when faced with the post-loss daunting task of creating a list of their belongings, creating an estate inventory for the executor of the deceased, and many other life events.
The demand for asset inventory specialists is growing as the industry gains momentum. There are requests coming in to inventory companies that cannot be fulfilled. As the number of inventory companies continues to grow, these demands will be met. It won't be long before it will be general knowledge as to what an Asset Inventory Specialist does.
Imagine trying to make a list of your property after you are hit by a storm, fire or even burglarized. Most people think that having insurance is enough. But it's not! Insurance companies can only pay you for losses on property that you can prove you had! Would you be able to and not miss anything of importance?
People tend to think, oh that will never happen to me but the truth is it happens to people everyday. Insurance companies, agents, financial and estate planners highly recommend a through documentation of your home's belongings to ensure your financial protection in the future. You need to remember that it is your responsibility to prove damage or loss if you are ever affected.
Insurance companies recommend keeping an inventory for the most obvious reasons; storm, fire or burglary. Keeping an inventory makes the process go smoother if you ever need to file a claim. An inventory is also beneficial in determining the value of your belongings, which would help you decide on your insurance needs. Financial and estate planners can use this information to help determine your net worth and would help in creation of a will. Another reason to keep a home inventory is when you move in the event you need to prove damage or theft.
Creating a home inventory can be done a few different ways. You can make a list of all your possessions on paper, including brand name, color and serial or model number depending on the item. You can also create it on a computer database and then store it on a CD, take photos or even video. The best is to have a combination of written records, video and digital photos of your property.
Once you have completed a home inventory you need to make sure you keep it in a safe place, such as a safe deposit box, but do not keep it at your home. It is also best web site to update your records annually to keep track of any new additions or deletions.