The Perfect Day to Do An Insurance Documentation Walkthrough

by Kevin on December 27, 2008

It’s the weekend after Christmas. Your home is likely full of new stuff. Gifts for the kids, gifts for each other. Random packages sent to you from distant relatives. If you are smart you’ve done a home inventory in the past. Now all of this new stuff is not in that documentation. It’s time for an update.

I’ve written several posts on home documentation in the past:

A quick review: the process is fairly simple. Document — write down, type up, take photos or videos of — everything you own. That is, everything of value.

New LCD TV? You probably want to take a photo of it as well as the serial number. New Christmas tree ornament? Unless it’s huge and made of pure gold you don’t need to document it.

You need to document everything of value that you own that can be replaced by insurance. An heirloom in the dining room that is simply priceless to you is only worth as much as the insurance value of the item. “Priceless” isn’t exactly insurable.

So grab a camera — hey, maybe you got one for Christmas — and get to work. It’s tough to think about, but if the unthinkable (flood/fire/other act of God) occurs you will be glad you’ve got documentation.

{ 1 comment }

Cindy Hartman December 28, 2008 at 9:49 am

Great post! Though it isn’t difficult, people are often too busy to create their own inventory. Don’t let this stop you if you are in that category. There are inventory service providers who will document your contents for you. The cost is minimal – especially when you consider the huge loss that you could encounter.

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