Just a PSA for those who may also be worried about losing anything.
okay, but can we also appreciate that this came from Florida’s own ambulance chaser? who also campaigned heavily for legalizing medical marijuana? Morgan & Morgan: actually kinda for the people.
also, extremely good advice. make sure to include furniture and appliances.
It’s sound advice, but goes against my experience actually working for an insurance company in contents.
You know what would drag your contents payout down? The lack of specificity.
Take a mixer. Standard kitchen fair. You have a insurance thing and you write in your contents inventory: Mixer.
It got to me, who would look at that and assign it to be replaced or valued as a hand mixer, maybe $20.
But it wasn’t a hand mixer, it was a stand mixer. That’s $50.
But it was actually a Kitchenaid Stand Mixer, So I’d put it in at $200, which is on the lower side for one.
But then you come back with a photo or receipt showing it’s a Kitchenaid Pro600 6 Quart lift stand mixer – and that’s $600 right there.
So based on the level of detail, one single item in your home went from $20 to $600.
so, if you can’t make a detailed list between now and the storm arriving, would it be good to take close-ups of labels and serial numbers if you can find them?
This is always a good idea, particularly of the more expensive stuff.
Another good idea is to take a video inventory. Upload it to the cloud. Proof of ownership will go a long way.
awesome. so:
•pics–whole room, whole items, most detailed label you can find
•vids–same as above, with your face and commentary
•upload to the cloud/file share site (Dropbox, etc)
that sound right?
In a pinch, yeah, that works great. At the very least, watching it can help trigger your memory about details.
Also, it may not be too late, I don’t think moratoriums have started yet for Florida. Make sure your policy language says “Replacement Coverage” and not Actual Cash Value for contents.
ACV is replacement cost minus depreciation. Replacement cost is just that, the amount it would cost to replace the item with something of like, kind, and quality.
Basically its “I had a kitchen aid Classic Stand Mixer in white”
Replacement Cost: Great, here’s $200 to replace it with another one.
ACV: Great! Here’s $100 because it’s 10 years old.
Steel Phoenix Studios 