Preparation is the best way to handle a loss. Being prepared means documenting and taking inventory of belongings and property before losses occur. When property owners incur losses due to fires, tornados or floods, it is extremely difficult to rely on memory when taking inventory. These types of occurrences are often stressful and chaotic. Property owners have to document damages, make sure loved ones or employees are unharmed, move to temporary housing or locations, find reputable contractors to perform repairs or provide estimates, and deal with the insurance companies. Having a complete inventory is an instrumental tool needed to receive full compensation for all damages. Documenting belongings is as simple as listing items in a notebook or videotaping personal property located on and around the premises. It may seem like a tedious task, but preparation now leads to peace of mind later in the event of suffering unfortunate and unforeseen losses and damages.