An Asset DocumentationCan save you Thousands of Dollars

Why and How

Why?

If a disaster strikes you and you have lost everything, what do you have to do in order to deal with the insurance companies?

First find out what kind of insurance you might have. Do you remember?

You will have to fill out long forms and create a list of your belongings

From memory you will have to reconstruct all what you ownedHouse and CarFurnitureJewelry, Luxury itemsHousehold goodsBoats and other toysMedical records

How do you prove that you owned the items you are listing?

You lost all your photos?

Did you loose your PC?

Do you have any receipts

Do you have ownership documents for home and car?

What is the value of the items that you are listing?

Do you know what are they were worth?

Can you get any appraisals now?

Market value versus emotional value?

Will the insurance company accept your claims?

What’s the smart thing to dobefore the disaster strikes??

The ability to document your possessions and furnishings in the event of a loss can save your thousands of dollars

Imagine you prepared an asset documentation ahead of time and all you have to do, pick up that CD from your bank deposit box, or your friends house and give to the insurance company.

Uses for a documentation of all of your assets

Help you prove the value of what you owned if those possessions are damaged or destroyed.

Make it more likely you'll receive a fast, fair payment from your insurance company for your losses.

Provide documentation for tax deductions you claim for your losses.

Helps to create your will and helps to distribute your possessions to your hairs in a just manner.

Support in divorce settlements

How to do it???

Take classes in your computer clubLearn about handling digital photographyLearn about video taping and editing.Learn PowerPoint, or ExcelLearn burning CDs or DVDs

Locate important documents: such as birth and marriage certificates, wills, deeds, tax returns, insurance policies, and stock and bond certificates. Make visual or written report on all your household items. Note when you bought and what you paid for it.Open closets and storage areas to record valuables.Electronics: write down model numbers and serial numbers for electronics and, include copies of receipts in the inventory. This will also help police identify your property if it is stolen and later recovered.Record and include less expensive items, such as bath towels and clothes. Their costs add up if you have to replace them. Be sure you include items in your attic, basement, and garage. Note the quality of building materials, particularly for such furnishings as oak doors or expensive plumbing fixtures. Photograph the exterior of your home. Include the landscaping--that big tree in the front yard may not be insurable, but it does increase the value of your property for tax purposes. Make special note of any improvements, such as a patio, fencing, or outbuildings.

Be sure you include items in your attic, basement, and garage.

Note the quality of building materials, particularly for such furnishings as oak doors or expensive plumbing fixtures.

Photograph the exterior of your home. Include the landscaping--that big tree in the front yard may not be insurable, but it does increase the value of your property for tax purposes. Make special note of any improvements, such as a patio, fencing, or outbuildings.

valuables: record invoices for expensive jewelry with the item, that shows date and price. Update the appraisals every two to three years.

Antiques, find old photographs showing an antique item being in the family for generations and showing it today. Get professional appraisals of jewelry, collectibles, artwork, or other items that are difficult to value.

Home Appliances, receipts

Your vehicles, receipts, mileage meter, conditions

Furnishings, each with proof of purchase

What to do next?

Update your documentation yearly.

Record your documentation on CDs and make several copies.

Put 1 copy in your bank deposit box and give others to you relatives out of state for safe keeping.

You realize now

How much your actually own

You need to update your insurance coverage for better protection

Better: Don’t be a victim of any kind of disaster!!