While as a homeowner, we all hope never to experience a property loss, property losses do happen and a little preparation now can save you lots of headaches, time, and dollars later in the event your home does incur property damage. As a restoration company, we often discuss ways to minimize or “subrogate” the actual property damage itself, as that is what a homeowner is required to do per your insurance contract and, while that is important, an often overlooked need for preparation is having documentation of your home’s contents, valuables, and documents. When a homeowner can provide proof of a home’s contents and approximate value, as well as proof of valuables and their approximate value, the claim process becomes a much quicker, easier and more equitable process, and relieves a lot of stress from the homeowner. Havoc Heroes Restoration Services has compiled the following simple steps to minimize the stress of property recovery and maximize its accuracy.
Don’t delay and get your preparation done today!
1. Document with photos or video all pieces of furniture, electronics, appliances, artwork, china/silverware/crystal, collectibles, rugs, etcetera, including any receipts showing purchase date and value and/or designate an approximate value. On electronics and appliances, be sure to include any serial numbers. If doing a video, one can narrate a description and value, including sentimental value, and then backup the video inventory with any receipts or appraisals, either in hard form or shown as part of the video.
2. Exterior and interior photos of the home itself should be included, with detailed photos and descriptions of any significant architectural elements, such as light fixtures, built-in cabinetry, crown molding, counter and bathroom finishes like granite, etcetera.
3. Household and personal documents should be photocopied and originals stored in a safety deposit box away from the home or at the very least at a trusted family member or friends home in a secure fireproof safe. Documents should include but are not limited to the following:
- Home: Escrow, title, deed, insurance policy.
- Personal: Birth certificates, medical history, passports, insurance certificates, credit card numbers, Will, Powers of Attorney
- Automobile: Certificate of ownership/title, finance contracts, registrations, insurance policies, drivers’ licenses.
- Financial: Account numbers and banking information for checking and savings accounts, CDs, stocks, bonds, and other significant investments
- Tax: Copies of the first two pages of your state and federal returns for the past seven years with a full copy for the most recent two years.