This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Protect Your Possessions

You have homeowners insurance, and you've made sure that the contents of your house are covered in case of an disaster.

Or have you? If you lose all the possessions in your home due to a fire or other incident, the insurance company will not simply reimburse you on your word.

One of the biggest mistakes that people make when insuring the items in their homes is simply failing to document all of them. Without documentation, one of two things will usually happen when you file a claim; both are to your disadvantage:

  1. You simply can't remember all of your possessions and file a claim based on what you can remember at that time. Since this is a time of high stress, you will most likely forget a large number of the items you owned and won't receive the full amount you are due. (This can become even more frustrating as time goes by and you remember more things you owned but forgot to claim.)

  2. You try to claim everything that you owned, but because you have no documented proof, some of your claims are denied by the insurer. This could happen to you even if you are covered by the largest insurers, such as The Travelers Companies (TRV) and Allstate (ALL).

With today's technology, taking a careful inventory of possessions is relatively easy. One of the biggest reasons people delay documenting all their possessions is that they believe that it's going to take a lot of time and effort. While the more detailed the documentation the better, having something is better than having nothing.

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
AAPL $132.65 1.82%
FB $81.91 0.47%
GOOG $555.37 -1.71%
TSLA $231.55 6.01%
YHOO $44.36 -0.36%


DOW 18,037.97 -42.17 -0.23%
S&P 500 2,108.92 -8.77 -0.41%
NASDAQ 5,060.2460 -31.8390 -0.63%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs