Pictures—worth a thousand dollars
With the cost of materials and equipment constantly rising and falling, insureds hoping to have a claim for damaged property settled quickly and hassle-free should consider one word: photographs.
Some say a picture is worth a thousand words. In insurance, a picture may be worth a thousand dollars or more when it comes to disputes on make, model, and condition/depreciation of contents. Ask yourself: When was the last time you took photos or video of your personal property or business inventory?
Photos may be a priceless tool for you to avoid a claims dispute with an adjuster who needs to assess your loss accurately. If damage is widespread, the adjuster may also be dealing with a backlog associated with limited supply and vendor availability.
Photos are not necessarily required by every insurance company as a prerequisite to obtaining insurance. They do, however, play an important role in the proper valuation of damaged property, as well as in satisfying a policy condition that requires that you do everything in your power to assist the company in adjusting your claim.
Furthermore, a home inventory is an essential part of ensuring that any potential claim is settled quickly and properly. The Insurance Information Institute (I.I.I.) has made free software available on its website,
www.iii.org, that allows homeowners to keep records of belongings in room-by-room files. For more information about how to protect yourself, give our office a call today.