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Documenting
Your Possessions After A Loss
Your
worst nightmare has just happened! You’ve
had a fire or been robbed.
Can
you document what was stolen or destroyed?
The insurance company will ask you to do just this and it’s your
responsibility to prove what you lost and its value.
Here
are some suggestions to help you cope with this difficult task.
 Receipts
One
of the most important items you can produce to verify ownership of your
property is receipts. They
are often overlooked because they are small, usually tucked away and
forgotten. While a receipt
may not establish the value of the item at the time of the loss, it does
verify ownership and establishes the original cost. If you do not have
receipts, perhaps you retained copies of invoices or appraisals.
If an item
was a gift, a letter showing the value and how it was received may be
submitted. In either
case, be sure to photocopy your documents and keep them in separate
locations.
 Photographs
You’ve
heard the phrase “one picture is worth a thousand words.”
In this case, it could not be more true.
Photographs and videotapes of your property are among the easiest
and most authentic ways to prove the property existed.
It not only shows the item, it places it in its natural
environment. Additionally,
this form of documentation helps you remember some of the smaller items
that you may overlook when compiling a list of your personal property.
Be
sure to photograph both the interior and exterior of your home.
Don’t forget to include your basement, attic, garage, sheds and
landscaping features. If your
home has a special design or ornate feature, pay special attention to this
area so it can be reproduced.
When
photographing the interiors of your home, be sure to photograph each room
from all four corners, making sure your photographs overlap.
Take individual photos of valuable items that would be hard to
replace. Jewelry,
collectibles and small items should be photographed separately.
Be sure to pay special attention to details such as patterns and
other identifying marks.
 Videotaping
Another
method of substantiating your property is by videotaping.
This method not only allows you to scan the entire room visually,
but also to include audio narration as to the item, where and when it was
acquired and its value. When
using this form of documentation, go slowly and be sure to include
everything -- even if it
means moving to a different location.
After you have taped the entire room, zoom in on individual items. Be sure your narration describes all the items in the room.
Remember; don’t forget to include closets along with the contents
of any drawers. As with
photographs, don’t forget the exterior of your home along with the
landscape.
Whether
you photograph, videotape or both, be sure to get double prints and copies
of tapes. Keep one set in a
fireproof safe and the other at an off-site location.
Remember,
it is YOUR responsibility to prove that you owned the item and its value.
Having proper documentation of the property makes it much easier
and quicker to process your claim.
And don’t forget to continue updating your records as you acquire
new property and dispose of old property.
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