Could you list, and accurately value, all your personal property from memory? If you needed to file an insurance claim, how would you prove your loss?

The best way to protect yourself is to make a complete inventory of all your possessions. A written description should include the date of acquisition, original cost, and any improvements. Serial numbers, if available, should be recorded, and any receipts you have should be attached to the list. To make the task more manageable, you may want to tackle one room at a time. Be sure to cover items that may be stored in closets or storage boxes.

If you have a video or digital camera, you can establish additional documentation of your home and belongings for insurance purposes. This record, which can be used as evidence in case of theft, fire, or damage, should include the following:

Never allow an unknown individual to record your belongings. Store the visual images, along with your comprehensive written list, in a safe place away from home, such as a locked file cabinet at your office or your bank safe deposit box. For extra safety, you may want to make copies and store them in separate locations.

Once you have established a complete inventory, it should be fairly easy to do periodic updating. Finally, be aware that visual documentation alone may not be enough to prove the loss of valuable items. Contact us for additional suggestions on how to protect your possessions.