Without a quality inventory of your personal property and scheduled property that is current, the agent has only a guess of what your need should be for a covered loss.  This could mean you are over insured and paying to much premium or underinsured for a possible loss. Lack of inventory control could mean lost or misplaced property or unnecessary duplication of property.  An inventory of scheduled property is critical to establish its value and to provide coverage.  Personal property coverage is connected with a building, those items when removed will lack coverage with few exceptions. Sample forms and a suggested plan to accomplish this follow.