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Do You Know What You Own?

Create a home inventory – it can be a valuable tool after a disaster strikes!

After recent disasters such as Hurricanes Katrina and Rita, most financial and insurance experts recommend a "home property inventory" as an invaluable tool for homeowners seeking to obtain insurance compensation after a catastrophic event or natural disaster. Although few people will dispute the value of a having a complete and up-to-date inventory of their possessions and property, most people admit that it’s on their “to do” list, right below getting that root canal or paying taxes. And yet, as recent tragic weather events have shown us, having a detailed home inventory can be the single most important action you can take to protect yourself in a time of crisis.

Creating a list of the things we own that are important to us needs to be a task we take seriously.

"The complete inventory, including photos, may be one of the most valuable investments for peace of mind we will ever make for ourselves and our families," said Gail Haubrich, FEMA (The Federal Emergency Management Agency) individual assistance housing supervisor. "If a catastrophic event disrupts our homes and surroundings, a home inventory will eliminate the need to piece that information together in the aftermath of the event."

FEMA has created a web page with resources available to those wishing more information on creating a home inventory or for those facing the aftermath of a storm or disaster (http://www.fema.gov/news/newsrelease.fema?id=33513).
Published Apr 14 2010, 05:25 AM by moneycoach
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