Keep it simple

Buying insurance is tough enough. How to make it more simple? I mean easier - not less effective. For example, you are getting Homeowners insurance. In case of a fire or burglary one of the requirements is to create an inventory of what was lost or destroyed, including any receipts. What a nightmare! Can you imagine coming home after stressful day at work just to find your home destroyed or torn apart by a burglar. It is terrible emotional trauma. I would say I’d be in shock! But then you have to remember every little (or big) thing that’s missing because you only get paid for what you can remember.

To make it easier you can make an inventory with price and description of personal property you own. Better yet, videotape or take pictures of the whole house. Then store the tape or photos off-premises (if the house burns down so will all your records).