Burden of proof. In case of a fire, flood, wind, or other property damage, it is on you to prove that you owned what you say you owned in order to recover your losses to the greatest extent possible. An itemized inventory assists in providing vital information pertaining to your assets. Your assets includes your home as well as items in your home, shops, RVs, trailers, cabins, garage and outbuildings. Performing this documentation before calamity strikes saves time, money, frustration, and work.