WEDNESDAY, JULY 17, 2013
Blog By: Perian Heffner, CIC
People in Oklahoma were recently faced with the above situation when monster tornadoes hit near Oklahoma City. The folks who had taken some simple steps before the storms are probably having an easier time than those who didn't. You can learn from their experience.
When it comes to personal property, the insurance company will ask you to make a list of everything that was destroyed. They’ll also ask how long you owned each item and what you expect the replacement cost will be. This is a daunting task! The good news is they won’t expect you to have receipts for everything or know exactly when you bought each item. They will take your word for most items normally found in a typical household.
It’s a different story for unusual items. If you have collections or unusually high valued items, it’s a good idea to have some type of documentation that proves ownership and value. It’s also important to safeguard such records in a way that they wouldn't be destroyed along with your other property.
The hardest part for most people is just remembering everything they owned. The solution for this is to take lots of photos. Of course, these need to be kept where they won’t be destroyed, too. But if you have the photos, they will jog your memory and it will be much easier to make your list. Photos also help if the claim adjuster should question ownership of items you are claiming.