Making an Insurance Record with Pictures and Videos

Consider your home or apartment and the contents of each room in it; you probably own a lot more items than you realize, once the final analysis is complete. Do you know the total value of everything you own? What if a fire or tornado leveled your home and destroyed everything; would you be able to itemize all the losses?

If you have homeowners or rental insurance, having a record of all your possessions may help immensely, should disaster occur. If you need motivation to get started and complete this project, realize that having a current inventory of your possessions will help you get the most value from your insurance coverage.

Start with Photographs

Begin by photographing each room. Take a picture of the room from each angle to get a sense of the “big picture” first. Then begin photographing in earnest by taking a photo of every item of value in the room, if possible, particularly antiques or collectibles that are irreplaceable. Remember that it would cost money to replace all items in the room, so anything of value to you should be photographed.

Consider also documenting items that you might overlook, such as interior doors. Other examples of such items might be the fixtures in the bathroom or decorative lamps. Keep in mind that everything may need to be replaced if your house is destroyed.

Don’t forget the garage, pool or hot tub, or any outbuildings (such as a barn or shed) on your property.

If possible, use a digital camera. Digital images can later be burned to a disc for compact and safe storage. Use the following tips for more effective photography:

-- Photograph valuables individually and, if possible, against a white background.
-- Try to photograph in good natural light, as the flash from a camera can obscure the detail of an object.
-- Small items can be photographed using the zoom control on the camera. You might place an object like a ruler next to the item, for a sense of scale in the photo.
-- Photograph serial numbers on all electronics.

Add a Written Narrative

Photographs are a good inventory of possessions, but it may also be a good idea to include a written description of each item. The following information can help you describe each item:

-- State what the item is.
-- Write down other identifying features such as color, size, brand.
-- Write down model and serial numbers, if applicable.
-- Keep a receipt, or write down the original cost of item (if available).
-- Keep a note of the current cost to replace the item.

Knowing the current cost of an item is particularly important, especially if your insurance policy covers losses based on current value.

Video Works Well for Added Narrative

If the idea of taking photos of everything you own, and following up with written narrative, sounds like a monumental task, consider using a video camera instead. You can describe the items as you film them. You may still have to do additional research, such as identifying current replacement costs of items.

Complete Your Inventory Now

This may seem like an overwhelming project that you can put off until another time. Consider, though, what might happen if you were the victim of theft or a disaster. You might have a very difficult time recalling what was lost. Instead, be prepared should you need to file a claim for losses.

The added benefit of having this information is that you might be able to adjust your insurance coverage. Perhaps you are covered for too little or too much. An inventory of your possessions will show you what coverage you need.