Make a list and re­duce the stress

The Coffs Coast Advocate - - STARS -

NAME the brand and model of the tele­vi­sion(s) in your house or apart­ment.

How much did your com­puter cost, and where did you pur­chase it?

What is the se­rial num­ber on your cam­era?

Could you an­swer those ques­tions with­out look­ing?

Now imag­ine how dif­fi­cult it would be to come up with this in­for­ma­tion for all of your be­long­ings while deal­ing with the stress of a fire, bur­glary, or nat­u­ral dis­as­ter.

In such a case, you may spend count­less hours try­ing to re­mem­ber ev­ery­thing only to re­alise what you for­got af­ter your in­sur­ance claim has been pro­cessed.

You might not even be able to pro­duce the re­quired proof for the in­sur­ance claim to be ac­cepted.

Whether you own your house or are rent­ing, house con­tents in­sur­ance should be on your “must have” list, not on your “I’ll get around to it” list.

When tak­ing out house con­tents in­sur­ance, it’s vi­tal to do a thor­ough in­ven­tory.

Many peo­ple “guessti­mate” the value of items only to find out, too late, that they are un­der-in­sured when it comes to the un­for­tu­nate event of a ma­jor loss.

Hav­ing a com­plete in­ven­tory will not only as­sist with in­sur­ance claims, but also if you file a po­lice re­port for stolen items, hav­ing the model and se­rial num­ber will im­prove your odds of re­cov­er­ing the stolen prop­erty.

A com­plete in­ven­tory list of your pos­ses­sions should in­clude a de­scrip­tion, brand/ model, se­rial num­ber, con­di­tion.

In ad­di­tion you’ll need to record in­for­ma­tion about the value of each item.

De­pend­ing on whether your in­sur­ance com­pany pays claims based on “re­place­ment value” or “cur­rent value” you’ll need to record de­tails such as pur­chase price, re­place­ment cost, cur­rent value, when and where pur­chased.

Tak­ing pho­tographs and/or video­tape to doc­u­ment the ex­is­tence and con­di­tion of your pos­ses­sions can also be in­cluded in the in­ven­tory

Photo: Oleksandr Biloze­rov

MUST HAVE: House con­tents in­sur­ance is not a lux­ury, it's an es­sen­tial

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