You could check with your homeowner's insurance company to find out what kind of documentation they require.

We had our insurance company come to do a risk management assessment. There wasn't any fee for this and the representative was a specialist in evaluating the home - not only for replacement cost but also to see what could be replaced, repaired or otherwise improved to reduce risk.

The agent took precise measurements and many photographs - especially of those items that were of higher value - custom cabinetry, window treatments etc. He also noted which features we had that lessened our risk and which also enabled us to save money on our insurance policy - alarm system with 24/7 monitoring, smoke and heat sensors, low temperature sensors, whole house generator, proximity to a fire hydrant and fire station, automatic water shut-off in case of a leak, age and condition of roof etc.

The agent also suggested that we take photos of the interiors of the closets and cabinets - he didn't need it for insurance purposes but he said it could be helpful to the homeowner in case of loss. Items of high value such as jewelry, artwork, wine collection etc. should have appraisals and listed as scheduled items on your insurance.

He also said you could video your entire house. Start outside and pan the exterior and then walk inside and go through the entire house - opening closet doors and cabinets. The advantage of a video is that you can narrate as you walk "this is the Monet we bought in Paris last year" or this is my son's collection of rare dominoes" etc).

Make several copies or put them on your computer so that you can access them remotely. You could do the same with your receipts.

One project that I'm in the process of updating is a record of all our bank and investment accounts, credit cards, insurance policies, emergency contacts etc - all those things that you might need in case of an emergency. The last time I did this I made copies and put one in my safety deposit box and gave one to my attorney.