Force Majeure

force majeureIf a meteorite were to hit your house today and blow it to bits, would you be prepared? Could you give the insurance company a comprehensive list of your home’s inventory. Would you be able to recover your family heirlooms and old photos? Could you list off all of the stuff you have in your closets, basement, garage, kitchen cabinets, and under the bed? Would you know what’s all in your kids rooms? Could you replace it, even if you wanted to?

The fact is, fires, floods, robberies, tornados, hurricanes, sewer back ups, and occasionally meteorites create a vacuum for hundreds of thousands of people a year. Left with the clothes on your back, you have to go about the onerous process of pulling all the pieces back together. If you had an inventory however, you would be much further ahead then the average bear. So what stops you? What stops you from simply taking your iPhone and shooting a video of your house, inside and out. Shooting the inside of your drawers, closets, and cupboards. Visiting the basement, the garage, and maybe even the storage unit you rented for all the overflow. Why not really dig in and take a photo of your possessions, then add a note in an inventory sheet outlining quantities and approximate value. Then you would know if you were under or over insured on your property and possessions, right?

In your business, you would want to know your inventory for accounting purposes, but also to ensure you aren’t taking losses from theft, damage, or rot. You would want to protect your assets then. So why not in the most important spot of your life, your home.

BUT WAIT!

What about your important documents? Did you leave them in your house that was just hit by a meteorite? Did you have a back up copy? Ugh. Think of where your important documents are right now:

  • Power of Attorney
  • Will
  • Deeds
  • Life insurance
  • Funeral arrangements
  • Donor information
  • Living wills
  • Do not resuscitate¬†orders
  • Blood type
  • Important medical information
  • Passwords
  • Credit card and financial information

The reality of life is that we are all vulnerable. Take it upon yourself to get a count of your possessions, and to collect and put all your important documentation in a safe place and a safer back up. Finally, never underestimate the value of memories. Protect your old photos, heirlooms, and special items, because once they’re gone, they’re gone forever.

 

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