You’ll Lose Money On Your Household Claims If You Don’t Do This

A photographic inventory is helpful in the event of an insurance claim, but it’s important to get it right.
 
A photographic inventory does more than simply jog the memory and prove you actually owned the product. It also provides important information about condition and value and even helps in establishing replacement value in the event an updated appraisal is required.
 
Learn how to show it rather than blow it, with the following quick tips:
 
1. Plan Ahead: Keeping good records is critical to a good inventory, and the more the merrier. If possible, obtain a copy of the blueprints to your home along with receipts for major appliances, improvements and other additions. Permits, bid sheets and photographs all assist in documenting the condition of the home or belongings at the time of the claim. Be sure to include general photographs of the home as well as close-up pictures of personal belongings, including jewelry, electronics and other valuables.
 
2. Light Up Your Life: Photographs are a great idea, but only if the quality of the pictures is adequate. Take photographs during daylight or invest in a good flash to ensure that enough detail is visible. It’s also a good idea to take several photos from various angles.
 
3. Share and Save: Make copies of the photographs and store them in a safe location. Safe-deposit boxes and online storage are popular options. Send a copy to your insurance agent for safekeeping, but be sure to revise and update annually in order to ensure the latest acquisitions are included.