Abstract: The present invention provides for a method of assessing lost property after a catastrophe which would be covered under an insurance policy and overcomes the deficiencies of prior methods to provide an improved method for identifying property at the time of loss for both commercial and residential policies. A legal review provides a policy customized for the individual policy holder. Maintenance of a digitized detailed record of all items covered under the insurance policy is established and verified at the beginning of coverage or at a time point prior to a catastrophic event so that if a catastrophic event results in complete loss of covered property or property is destroyed beyond identification, 100% of the covered property is accurately and verifiably recorded for replacement/reimbursement purposes.