The Top 11 Tips for Creating a Tool Inventory

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Get your Motor Running

The journey of a thousand miles, starts with the first step. The same goes with making an inventory of any of your household items. At the beginning it might seem like Everest, but just start. Open the tool box in the closet and make a list. Pull out the socket set in the basement. Get those first few items listed and that can be the impetus to keep on going until you’ve got a complete tool inventory.

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The List

Write down the tool, categorize it and snap a picture on your phone. A simple handwritten list (as long as you remember where you put it and it doesn’t get lost in a fire) or spreadsheet will work fine. Some insurance agencies provide inventory templates, although most of these are associated with a general household inventory. Keep a copy of the handwritten tool inventory nearby, say in the garage. Keeping it ever-present with your tools will remind you to update it as you add tools to your collection. Also, snap a picture of the inventory every time you update it so you always have a copy.

And better yet, use an inventory app to maintain your tool inventory. Here is good information on seven good apps to consider.

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The Details

Recording the brand, model and serial number of your tools; particularly power tools and high-end hand tools. This information is helpful if you have to file an insurance claim. In addition, it makes it easier to buy replacement parts, and it may be necessary if there is a replacement plan available with the tool.

Don’t bother with level of detail for inexpensive, generic tools.