Market Potential for Home Inventory Service Businesses

What is the potential market for your home inventory service business? In theory, every homeowner, apartment renter, and business owner is a viable prospect.

A news release from the National Association of Insurance Commissioners (NAIC) outlines the number of individuals who do not currently have an inventory -- 48%, according to their survey.

"Of those consumers who reported having a checklist, 32 percent had not taken any pictures and 58 percent had no receipts validating the cost of their possessions. In addition, 44 percent of respondents acknowledged that they had not stored their inventory in a remote location," the survey found.

The insurance industry supports the need for a home inventory. “A comprehensive list of your belongings and their value will help you file an insurance claim after a disaster,” said NAIC President and Kansas Insurance Commissioner Sandy Praeger. “Creating an inventory and storing it in a safe location away from home is one of the most basic — and most effective — disaster preparedness steps anyone can take to help protect themselves and their financial future.”