Taking stock of possessions

Why take an inventory of family possessions, or be concerned about what inflation has done to increase the value of your home and its contents?

A public information organization, the Insurance Information Institute, at l 025 Vermont Avenue NW, Suite 370, Washington, D.C. 20005, offers two free publications that could help answer those questions. Only a self-addressed, stamped, No. l0 return envelope is required.

One, ''Taking Inventory,'' is available in both English and Spanish. It explains how to list and describe, room by room, all your belongings, with dates of purchase and original costs. It indicates how such inventories help determine the value of possessions and establish personal insurance needs. And it describes how they assist in the establishment of income-tax deductions.

The second free document, ''Your Home Insurance and Inflation,'' lists the dangers of underinsuring in a period of rising real estate and property values.

George Kaveney, Washington representative of the institute, strongly recommends that people review their insurance coverage with their insurance agents at least once a year to make sure they are adequately covered. Consumers should be aware, he says, of the limitations of the average homeowner's policy. He points out that additional floater-type policies are often necessary to cover such things as expensive furs, jewelry, silver, and antiques.