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Ten tips

Document property in case of disaster

By LAURA T. COFFEY
Published September 18, 2005

The damage caused by Hurricane Katrina is utterly mind-boggling and seems almost incalculable. But with this and most other disasters, insurance adjusters must assign dollar values to damaged and destroyed property. The following tips can prepare you to negotiate with your insurance company in the event of any disaster, whether it's a storm, a fire or some other calamity.

1. TAKE STOCK. If all the belongings you've accumulated over the years were destroyed, would you be able to remember them all? Even if you could, that may not be enough for your insurer. That's why it's important to inventory your possessions and consider having some valuables professionally appraised.

2. STREAMLINE THE INVENTORY PROCESS. Any time you move to a new location, take a moment to jot down a quick description of each possession. Write down the make, model, place of purchase and dollar value, and attach any receipts and sales contracts. If you've been in the same house for years, try not to feel overwhelmed. Remember that an incomplete inventory is better than no inventory.

3. BREAK OUT THE CAMERAS. Photograph or videotape each room in your home, including closets, open drawers, storage sheds and the garage. If you opt for the videotape route, you can record yourself describing each of your items as you walk through your home.

4. KNOW WHAT'S IMPORTANT. When documenting your clothing, write down the number of items you own by category (shirts, coats, shoes and so on). Record the serial numbers of major appliances and electronic equipment. The numbers usually can be found on the back or bottom.

5. USE PERSONAL FINANCE SOFTWARE. Several packages include room-by-room inventory programs. One can be downloaded from the Insurance Information Institute (www.iii.org) site. Click on "free home inventory software" in the bottom right corner.

6. BE SMART ABOUT STORAGE. Store your inventory, receipts, photographs, videotapes and appraisals in a secure, fireproof place off site, such as a safe deposit box.

7. HAS A DISASTER ALREADY HIT? If your home's roof, walls or windows have sustained serious structural damage, cover them right away to avoid additional damage. Hang on to receipts for temporary repairs for possible reimbursement.

8. KEEP EVIDENCE. Wait until an adjuster has seen damaged furniture or other expensive items before you throw them away.

9. DOCUMENT DAMAGE. If you must start cleaning up before an adjuster arrives, take pictures or videos of the damage first.

10. CONTACT YOUR INSURER. If your agent can't be reached about filing a claim, reach the company directly. The Property Casualty Insurers Association of America and the Insurance Information Institute have lists of major insurance companies' toll-free numbers. Go to: www.pciaa.net or www.iii.org

Sources: Property Casualty Insurers Association of America; Insurance Information Institute; Associated Press.

[Last modified September 16, 2005, 17:57:02]