Jennifer walked into her best friend’s kitchen and stopped. “Carrie, what are you doing?”
Snap. Snap. “I’m taking pictures,” she replied.
“I can see that. Why are you taking pictures of your jewelry?”
“Oh, I’m taking pictures of everything. I’m backing up my computer and all my financial records too.”
“Obsessed much?” Jennifer said laughing. She grabbed a mug of coffee and sat at the table. “So, spill. Why are you taking pictures and backing everything up.”
Carrie h anded her a cookie and sat down with her own cup of coffee. “Well, I just got an insurance rider for this jewelry and Doug’s collection of Civil War Memorabilia. I want to document all of our important items and even the not so important ones, like the televisions and the computer itself. I’m saving it all to a flash drive and locking in my fireproof/waterproof safe. It’s for my homeowners insurance.”
“Yep, you’re obsessed. I can’t imagine an agent told you to do that.”
“No, but he said it was a good idea. It’s important to document the serial numbers so in the event of a tragedy they can be more easily replaced, except for the jewelry and the collection of course. How will they know exactly what you have if you don’t have a record of it to show them? It’s also helpful if you get robbed. You’ll have a list of the items taken for the police.”
“You’ve really given this a lot of thought haven’t you?”
“Of course I have. I worry all the time about the ‘what if’. What if something happens to your house? Don’t you have that collection of first edition books? Are they worth more than the st andard replacement coverage you have for your belongings? You really should think about a separate rider for those you know.”
“I’m sure our coverage is just fine,” Jennifer assured her.
“Are you really? Have you read the policy?”
“No, why would I?”
“Jennifer, do you even know if you have coverage for the rising cost of building materials, or just the replacement value of your house when you bought it?
“Oh, I’m sure we do. I’ll ask Bob when he gets home.”
“I get a new copy of my policy every year and I read it to see if things are covered that we no longer have or need coverage for things that aren’t covered. You should do that too. Does Bob do that?”
“I don’t know,” Jennifer answered. “I should know it too though, in case something happens.”
“Now that’s a good idea. Oh, I need to get my gr andmother’s recipes copied onto the computer so I don’t lose those either.”
You don’t have to be as obsessed as Carrie, but knowing what is covered and what is not is important. Ask your broker for a copy of your policy if you don’t have one. Changes may have been made you need to know about. Ask if you have enough coverage and how you can get extra if needed. You don’t want to find you’re underinsured when you are already stressed by events.