This weeks post could be one of the more important ones. Having all of your insurance information in one spot will save you immense pain and time trying to get that information. Insurance info is one of those things I do not have memorized. Half the time I don’t even know what insurance we have or what it covers. It would be great to have all that info in one spot.
So, here is what should be included in this spot. And yes, it is more than just insurance policies.
Copies of your life insurance. Having proof of it is always good. Also, with this information written down you will have access to your policy numbers as well as who to contact and how and when to best contact them.
Copies of home, auto, etc insurance. This would include renters insurance, boat insurance, any policies you might have for quads or dirt bikes, motorbikes, and the like. If you get into and accident, or if your boat sinks, you will definitely want to have that information readily available. If you rent instead of own, you should definitely have contents insurance. If your residence burns down, you don’t want to lose everything you have. Not owning the home would mean your landlord gets to cash in on his policy and you get nothing. With contents insurance, you can at least get money to replace your stuff which just happens to be everything you own.
Jewelry appraisals. If you have a lot of jewelry in the home, you will want to get them appraised so you have an idea of how much they are worth. If you get broken into and they get stolen, depending on what insurance you have, they will cover the cost of the jewelry. I know that wont replace any that had sentimental value but at least you get something for it. Better to replace it with the insurers money than your own.
Another good idea is to take an inventory list of items in your home. This would include televisions, computers, art, books, beds, things with sentimental value, anything of high value, and anything you would want replaced if destroyed or stolen.
You will want to write down:
Description of item. Describe what it looks like as best you can. If there are any scratches or dents that will help make it easier to identify, include them.
Make/model and version of products
Serial number. This is specifically in case items get stolen. This is why you will want to list those two 75″ TVs separately. Having the serial number written down can prove that that specific TV is yours.
Purchase date. You will want to keep receipts and attach them to this sheet. Having proof of purchase will save you time and the headache of trying to prove you had that 75″ TV.
Price you paid. Again, keeping the receipts handy will help. Often the receipts will have the price as well as the serial numbers for your items. Depending on your policy, your insurance may cover 100% of purchased price. This will be good when the value of the TV goes down, but your policy pays your out at your purchase price.
One last thing I think deserves a mention in this area is receipts for any major repairs. This includes repairs to the home, car, or items in the house like computers and laundry machines etc.
The idea behind this Go-Book isn’t only for the zombie apocalypse, but also for small things like making a claim about your missing computer, or adding your new born to your life insurance policy.
In your Go-Book, it is a good idea to staple a copy of each of your policies on the back of the page that has the details written down. This is the book you want to put everything into. It will not only be the Go-Book, but the Go-To-Book. The book you go to for all your important information.
Next week we will be going over your finances and what should be included. I keep saying on each topic that it is the most important one. I have to laugh because I’m basically saying the whole book is the most important thing. We love our money, and when we’ve worked as hard as we have to get it we don’t want to let it get away because we simply didn’t write its information down.
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