As a former financial advisor, it was my job to help people think about things that we do not usually think about until it’s too late.
One of those things is what if your home caught on fire? Most people think that having homeowners insurance is enough to protect themselves. But in all reality, the most challenging thing people are faced with when their home is damaged in fire or storm is a true inventory of everything they own.
There are two ways to approach this from a planning perspective:
• You can hire a person to comes to your home or
business and takes inventory, including serial
numbers and descriptions of all your possessions.
o This can be very helpful if you own items of
o Its proof to the insurance company.
o This also helps you determine if you have enough
• The other is a very simple thing you can do on your
own–take pictures or video of your home.
o This is probably easiest for most of us without
the expense of a professional.
o We tend to accumulate a lot of stuff throughout
the year, make this part of your new year to-do
lists, and do it annually.
o Be sure to keep a copy in a safe place.
The chances are small that you will be a victim of an event such as a fire or tornado, but it can happen. And being prepared at least helps us when filing an insurance claim.