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Know Your Worth: How To Do Inventory For An Insurance Claim With Only Your Smartphone

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You have a lot of stuff. Do you know what it's worth?
When it's time to make a homeowners claim, you can optimize your chances of getting your money's worth back if you have an updated inventory of your belongings. All you need is your smartphone.

Published in: Law
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Know Your Worth: How To Do Inventory For An Insurance Claim With Only Your Smartphone

  1. 1. K N O W Y O U R H O W T O I N V E N T O R Y Y O U R P O S S E S S I O N S F O R I N S U R A N C E W I T H Y O U R S M A R T P H O N E Courtesy of DarrasLaw W O R T H
  2. 2. W H Y T A K E I N V E N T O R Y ? Your stuff is important to you. If theft, fire, or a natural disaster ravages your home, you'll need an updated list and video footage of your belongings if you hope to recover their true worth. It's worth more than you think.
  3. 3. S W I T C H T O V I D E O . H I T R E C O R D .
  4. 4. START OUTSIDE. Film your swimming pools, hot tubs, water features and the equipment What about the roof? Do you have an unattached garage or shed? What about a tree house or activity court? Record the state of the exterior.
  5. 5. AND WHEN OUTSIDE... Record the landscape, too. What trees/plants do you have in your yard? It's easier to assess damage for a claim when you have a "before" image to reference.
  6. 6. GO THROUGH YOUR HOME ROOM BY ROOM CLOSET BY CLOSET DRAWER BY DRAWER (AND DON'T FORGET THE GARAGE)
  7. 7. SERIOUSLY, CHECK YOUR GARAGE AND SHED, TOO. Tools are expensive to replace, and we often keep forgotten valuables in the garage. Like that bicycle your kid just HAD to have.
  8. 8. BACK EVERYTHING UP Back up your videos and images from the inventory onto cloud storage so you'll have guaranteed access to them, even if something happens to your phone. Try iCloud, Dropbox, Google Drive, or something similar PRO TIP: Send a copy of your video to a friend in another area of the country and ask them to store it, too.
  9. 9. WHAT ABOUT YOUR HIGH-PRICED AND COLLECTIBLE ITEMS? Consider a special rider to cover expensive items that may exceed the limits of your homeowners insurance policy Be sure to include replacement cost coverage for these items The cost for a rider is fairly inexpensive
  10. 10. CONSIDER A RIDER FOR... Flatscreen TVs Laptops, cameras, and other high-priced electronics Expensive jewelry Antiques/heirloom collectibles If you have a lot of expensive items, you may want to consider separate riders Have your high-priced items appraised regularly A 20-year-old appraisal won't reflect current value and will hurt your claim
  11. 11. DON'T FORGET TO UPDATE. Make a habit of updating your video inventory at least once a year. ALSO: Update your video inventory when you make any major changes or additions to your home.
  12. 12. W A N T T O K N O W M O R E ? S U B S C R I B E T O O U R B L O G F O R T H E L A T E S T N E W S A N D T I P S O N H E A L T H , D I S A B I L I T Y A N D I N S U R A N C E M A T T E R S : F O L L O W U S O N T W I T T E R

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