How to Prevent Money Troubles After a Disaster
Learn how to keep track of valuables and their worth—just in case you ever need to file a claim with your home owner’s insurance company.
Uh-oh. A pipe breaks and floods your basement. Bad enough, right? But if you can’t prove the value of what was destroyed in an accident (or what was stolen in the case of theft), things could get even worse. Having an inventory of your goods—along with supporting materials, such as photographs and receipts—to present to your home owner’s insurance company is crucial. First use the handy guide on the following pages to learn how to document your valuables properly. Then store this information electronically in an online (read: waterproof) e-mail account. Be sure to update it every two years and after you make a major purchase. Keep pictures in a bank safe-deposit box or save them in an online photo account, like Snapfish. Financial crisis averted.