How prepaired for a burglary, or house fire are you?

This is clearly not directly related to motorcycling.

I recently ran across a post on Unbreakable bonds , where someone’s home was burglarized. It made me think about sharing some good advice to all my friends/readers out there in internet land.

I am an insurance adjuster, and I have a lot of claims that I handle for losses of this nature. In cases of a burglary or a house fire, you run the potential to loose a lot of personal property at once. Remembering what was stolen, or in case of a fire loss, what was burned can sometimes be difficult, especially if the list is long, let alone try to remember how much you paid for it, how old it was, where you purchased it, and trying to prove you actually owned it. My best advice to folks is to take an hour or so, get a camcorder, and do a video diary of each and every little thing that you would claim in case of a major loss. I mean everything! I know this will sound silly, but even include all of the little things like your underwear. You don't need each and every piece, but a general shot inside each drawer, etc. It gives you and the insurance adjuster a good idea of what you had, and also helps to discredit that you might be exaggerating your loss. Be sure to take close ups of model #'s on electronics, etc. This will help when looking for a comparable replacement.

Furthermore, watching the video after a loss while filling out a personal property loss worksheet with your adjuster, will help jog your memory and help you realize what might be missing that you would maybe not realize until much later when you go to look for it and use it. Many times these types of things get brought up long after the claim is settled because people forgot they had it until they went to use it and it was gone. You can’t possibly remember everything. As best as possible, getting all or most of your items listed right away without forgetting anything is important, because insurance claims do have statutes of limitations for coverage. Sometimes claims are limited to one year from the date of the loss for replacement cost coverage to apply, and two years for coverage to apply at all. Such is the case for the state that I'm in, and for the company that I work for.

Once you have the recording done and burned onto a CD, give the disk to your insurance agent to put in your file for safekeeping, or put it in a safety deposit box, or better yet, make an extra copy and do both. Saving receipts and owner's manuals is also a great idea.

Finally, remember to do an update disc about once a year. You don’t have to do the whole thing over, just video newly purchased items. Also, if you know you no longer own something previously recorded, make a verbal or written note for your file. This is also good for putting credit to your honesty in settling your claim.

I know this may sound like a headache, but believe me, if you ever have one of these losses, you'll be thankful you put the time in on this.

I know I spoke plenty of insurance jargon, and if you don’t understand something, please feel free to ask. You can ask me through comments, or my e-mail address is 1mrmotorcycle@gmail.com. Though I admit I don’t have all the answers, I’m happy to solicit any advice I can for free on what I do know.

Mr. Motorcycle

Posted in: being prepaired, insurance