Prepare a household inventory at the first sign of an impending storm, and preferably well before that. Keep it updated if you already have one.
Make a list of everything you own. If you experience a disaster, your inventory will allow you to: o Establish the value of property that is damaged or destroyed.
o Facilitate a quick, fair insurance reimbursement for your losses.
o Document tax deductions for your losses.
Steps to complete an inventory of your property: o Secure and record all original important documents, financial and family, such as birth and marriage certificates, wills, deeds, tax returns, insurance policies. Keep the originals in a safe place.
o Make a permanent record of all your possessions. Video is the best method, but there is software available to make this an easy task if you don't have access to video. Secure receipts and serial numbers for everything possible.
o Go completely through your home, documenting everything. Don't forget to open drawers and cabinets, and don't forget attic, basement, and garage.
o Don't overlook clothes and linens. These items add up when they must be replaced.
o Include the exterior of your home and its landscaping. Your landscaping might not be covered by your insurance, but it contributes to the value of your property for tax purposes. Document improvements to your home, when they were completed, their cost.
o Video your cars, motorcycle, boat, and any other vehicles.
o Obtain certified appraisals of valuables such as jewelry, guns, art, collectibles, or similar items.
o Update your inventory list annually and your appraisals every two to three years. You'll be glad you did.
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