tee 24 — Wednesday, October 25, 1989 - North Shore News HOME INSURANCE BUSINESS it’s time to take household inventory “INVNTRY: foto/video; update; s.d.box.”’ That cryptic message has been haunting me for as long as I can remember. It’s one of the items on my checklist when I meet with indi- viduals and families to help them with their personal finances. Translated, it says: “Do you have an inventory of your personal possessions for in- surance purposes? If not, I'd sug- gest you take yictures — of everything, not only the valuables. dollars and sense Michael Grenby Lt Ret “Use a camera, or a video cam- era if you have one, and go from room to room. Show each room from every angle to record all fur- nishings, pictures and so on. Open drawers, cupboards and closets to record what’s inside. “Ideally, carry a tape recorder with you. As'the pictures are being taken (by you or somebody else), tell the tape recorder about special features or values. “Process the film and keep the ‘negatives, along with the tape, in your safe depcsit box. If you don’% have a box, then at least make sure the negatives and tape are kept somewhere outside your home.”’ That’s the advice I give people when I review their finances. And every time I say these words, | feei guilty and hope they don’t ask me: “Do you have an inventory like that, Mike?’ There’s nothing worse than an adviser who doesn’t practise what he (or she) preaches. If it’s good enough for the clients, how come it isn’t good enough for the adviser? Few people manage to compile a detailed, written list of ali their possessions. [ know I'll never be among those few. But there’s absolutely no reason why I couldn’t follow my ‘‘short cut" advice at least to take pic- tures. If it is so easy —- and neces- sary — why haven’t I done it? At least the motivation that fi- nally pushed me to do the job was in character. A local photo processing outlet was offering a spate set of prints free for every rol] developed. Last Saturday was the final day of the cffer. I had started a roli of film with some pictures of friends to whom I hed promised extra prints. But some two dozen exposures still remained on the roll. I am far too cheap — er, eco- nomical — to waste film by taking out a roll two-thirds unused. So on Saturday I finished off the roll in the camera by at last recording th2! inventory of our home posses- sions. Honest, it dida’t even take haif an hour, I really don’t know why I waited all these years to do the job. I am just grateful we didn’t have a fire or other major loss in that time. Of course, a picture inventory isn’t as comprehensive as a written list, with descriptions and values. But from those negatives, you can print big blowups. And those pic- tures will jog your memory to heip you make a written list for your insurance claini in case of loss. Photos are actually even better than words as far as any ‘“‘discus- sions’? with an adjuster or in- surance company about quality and value. Uniess you have all your bills, a photo would probably give a fair indicaticn that your couch or stereo was a $2,000 model and not a $249 ‘‘once-in-a- lifetime’’ special. Pictures also indicate the over- all quality of your possessions, another factor insurance com- Panies use to judge your claim. If most possessions are of good qual- ity, the company is more likely to believe your claim for a $1,000 fur coat than if your decor is apple box modern. So, are you ready? Then pick up your camera/video camera right now. And as this column’s readers record their photo inventories, let there be such a series of clicks and flashes across Canada that this (albeit minor) phenomenon will. claim its place in history. Then you will also be able to claim your rightful place in the in- surance company’s Accounts Pay- able files if the need should ever arise. NEXT WEEK: How to make sure your property coverage covers you properly. SPREADSHEETS A must for office workers! This seven-week beginning-ievel course runs November 2 to December 14, 6-10 p.m. Earn credits toward the Information Processing Program or simply upgrade your skills. Enrot! now. Seats are limited. For registration information, please call 984-4959 CAPILANG COLLEGE 2055 Purceli Way * North Vancouver ¢ British Coiumbia viser, Mike will respond to readers’ questions and story ideas through the paper. Write to Mike Grenby, Money Columnist, Based locally, Mike Grenby writes a money column which ap- Pears in newspapers across Canada. Although he also works as an independent financial ad- North Shore News, Nobody beais our rales 1139 Lonsdale, North Vancouver V7M 2H4. 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