| I just handled a burglary loss for a very nice woman | | | | You have a legal contract with the insurance |
| in Atlanta. She decided to go to the market at about | | | | company. Part of that legal contract requires you to |
| 8:30 pm on a Wednesday evening in late May. She | | | | provide proof of ownership of your contents. The |
| began to drive toward the market and noticed four | | | | insurance companies give a lot of latitude in these |
| teenage boys standing in a park very near her home. | | | | matters, but remember that they don't have to. |
| She hesitated for a moment, then continued to the | | | | Most people are not going to create a master file of |
| market. | | | | all their receipts for the stuff they buy, and then |
| When she returned at 8:55 pm, she found that | | | | keep that file in a fireproof box or off-site. So, most |
| someone had broken through her back door and | | | | people who have a fire, flood, burglary, hurricane or |
| stole jewelry, cash, a TV, a laptop and some | | | | water loss are going to be faced with proving |
| expensive handbags. Her claim totaled over $20,000. | | | | ownership of their personal property. |
| Only $1,500 of that were for repairs to the back | | | | So, remember this: The NUMBER ONE most |
| door. | | | | important thing that you can do to prove ownership |
| I provided a Contents Inventory Worksheet so she | | | | of your personal property is to PHOTOGRAPH IT. |
| could list all the items stolen. She submitted the | | | | Get a camcorder, or digital camera, or even |
| worksheet quickly. Unfortunately, she had no receipts | | | | disposable cameras. Go through your home or |
| or any other kind of documents to prove that she | | | | business and capture your personal property "on film." |
| actually owned the stolen items. Even photos of her | | | | Do it once a year, and then remember to update |
| stuff would have helped to prove she owned it. But | | | | after every major purchase...like a new computer or |
| no photos either. | | | | flat-screen TV. Don't leave anything out. Even photo |
| The insurance company wanted to pay some of the | | | | inside drawers and closets. |
| claim, but insisted that she provide some | | | | Take the photos or video and place them off-site. I |
| documentation. She could not. The insurance | | | | recommend a safe deposit box. Then, in case of a |
| company denied the Contents portion of the loss, | | | | disaster, you have some visual proof of your loss. |
| and paid her only $500 after assessing her $1,000 | | | | You could review the video or photos and compile |
| deductible. | | | | your inventory list. You could submit a copy of the |
| Gentle readers, this is not an isolated incident in the | | | | photos or video as proof of ownership. |
| claims process for property claims. Insurance | | | | The photo/video process takes me an hour when I |
| companies are serious about holding down their claims | | | | do it. And that's filming in average sized home. Don't |
| cost. And it is YOUR responsibility to prove your | | | | take a chance by being unprepared. It could cost you |
| claim. | | | | tens of thousands of dollars at claim time. |