Assets ID is a concept that was developed in late 2001. It was inspired by a total loss fire where the homeowner had all personal property consumed by a fire. When it came time to process the claim with the insurance company it became very clear that there would be no way the homeowner’s could recall all of their personal assets. The insurance company insisted that the homeowner’s do the best they can to generate a list of assets. Any items not on the asset list the insurance company obviously will not pay.