Cindy Hartman's Page

I planned to do it. It's on my to-do list. I promised myself this year I would get it done...

These are only some of the comments we hear when talking about a home or business inventory. It's a task people know they need, but just don't seem to get it completed (or even started, for that matter).

There are only a few more weeks remaining in 2009. Have you documented your inventory yet? Will another year come and go without this important information? This project just never makes it to the top of your list; by now you realize that you're never going to get to it.

You can still check it off your list, though. Call an inventory service provider near you; most likely they can get it done before your year-end deadline. 

The clock is ticking!

First in line. First to apply. First to receive a settlement. These are very important reasons to have a personal property inventory for your home and business. The ability to be first!

When some insurance companies closed their doors after hurricanes Rita and Katrina, two things happened. 1 - The policyholders received a settlement. 2 - They didn't. The father of a woman who lived in Louisiana told us she had an inventory of their belongings, and when they evacuated, she took it with her. As soon as she was able (just a couple weeks), she sent the inventory to her insurance company and the claims process began. A friend of hers did not have a portfolio of her contents. By the time she pulled all the information together - from memory - that she needed to file her claim, the insurance company had folded. Gone. Doors closed. She received nothing.

BE FIRST! - A very small, but compelling reason to have an inventory.

Picture yourself sitting in the middle of your kitchen floor, digging through the wet, slushy muck left behind by the fire department. You're looking at a melted pile of plastic, attempting to determine what it was.  OR

Picture yourself coming up from the basement after a torndo into bright sunshine - and nothing left but splinters of wood and a few personal items blown throughout the back yard.  OR

Picture yourself walking into the house, remembering how neat and clean it was when you left but now in total disarray - drawers left open, mattresses thrown off the bed, jewelry drawer empty, artwork no longer hanging on the wall, and many other items missing.

Now, the big question of the day is this ... what's it worth to you to have a document that you can refer to when it's time to file the claim?

A 2nd question ... NOW what's on your agenda for the weekend? 

A very casual "and what do you do?" conversation with a stranger earlier this week turned into a serious discussion - and quite educational for the others at the table. When learning that we provide personal property inventory services, she stated, "I wish I knew you 2 years ago!"

She was burglarized, and experienced a huge financial loss. There are 3 reasons for her loss. First, the inability to remember everything that was missing/stolen. Second, she didn't realize that there is a jewelry limit in all insurance policies. Her policy's limit was $1000, which means that the most she received on jewelry not covered on a rider was $1000. And third, the value of her gold jewelry that WAS appraised had increased by over 50% since the last appraisal years ago.

So, what does that mean? The price of gold has been climbing for quite some time, and her appraised value was less than 1/2 of what her jewelry was worth. Therefore, she her insurance claim provided less than 1/2 of what she needed to replace it, resulting in either a huge out-of-pocket expense or just do without.

The Insurance Institute of America recommends having your jewelry appraisals updated every two years. When is the last time you had yours appraised? It's worth the time and money to do this. You'll be happy you did if you experience a burglary, fire or natural disaster.

Remember, the responsibility to prove ownership and value is on you, the policyholder.

I remember going to Cleveland Indians games in the summer with my Dad when I was in grade school - still have the photo of me in my Chief Wahoo t-shirt and cotton candy all over my face. I loved it when someone hit a home run - to me, the most exciting thing to happen in the ball park. I used to think baseball was boring unless there were a bunch of runs being scored.

Fast forward a few years (OK, a few decades) when, tired of hearing me whine about a "boring" shut-out, my son Brian explained the defense to me. All those years prior, I just thought men stood in a set spot and would catch a ball if it came their way. After my baseball lesson - many lessons, actually - I must say I never looked at the sport the same way again. I am now a fan of baseball - both offense and defense. Understanding the thought process that goes into where a player "stands" when on the field puts the entire game in a different context. For example, there are bunt coverages depending on if, who and where players are on the bases; and most baseball fans know of the Barry Bonds Shift. Everything they do - even where they stand - is how they prepare for each batter.

I see a home inventory as your defense in the game of life - maybe the boring part, but extremely vital, nonetheless. Preparing for what is apt to happen will help you win if you have a fire, theft or natural disaster. It will help you receive a maximized claim, faster and with less hassle. And the defense (home inventory) will very quickly turn into your offense - your out of the park home run - your bases loaded home run - when you need it.