You are having a wonderful vacation! Taking pictures of everything, the beach, the historic ruins, the mountains, your friends and family? is fun, fun, fun. Two weeks later, you arrive home. Scenario One ? your house has been burglarised and the back door left open to the elements the entire time you were gone.

Worse yet, the ahem, burglar is claiming that he is going to sue you because he fell down your stairs by tripping on your uneven stair tread during his theft strategy. (Oh, I forgot, that kind of individual lawsuit from a presumed criminal couldn?t happen here, only in the US! Or can it?)

Scenario Two ? Bermuda had quite the storm while you were gone. The house is a shambles, with part of the porch, the roof and a window in pieces!

Where to start, what to do, what is missing, what is damaged, how much is it going to cost, how much are we insured for? The insurance claims adjuster show s up, courteous and willing to help. Do you know the value of anything? Can you document it? Sigh, this is going to be a far longer process than you thought, and the memories of that vacation swiftly fade away.

You take out those pictures one more time, and you know that they are the wrong set. You meant to photograph all those family treasures, but you know how it is?

An easy to read insurance property & casualty policy starts logically with common sense assumptions. What do you own, and how can you protect your assets and your family?

Home

Surroundings, garage, sea wall, docks, etc.

Contents ? every room full of living paraphernalia

Special furnishings, jewellery, sports equipment, generators, heavy lawn equipment, boats, etc.

Liability for visitors and guests

Items and mishaps away from home

You live in a house. It is 1,500 square feet. It is 40 years old; it is near the ocean, surrounded by massive vegetation, and so on. Do you know the replacement value of this home?

If Fabian taught us all anything, it certainly reinforced the message that when disaster strikes, you need all the help that you can get. You home should be adequately insured, not underinsured!

How can you figure that out? Generally, your insurance company will visit your home to establish a replacement value. If you are unsure (pardon the pun) as to the replacement value of your home, ask your insurance representative to provide you with an updated value.

Keep in mind that this request may have unintended consequences, such as a premium increase. In spite of the fact that you may not want to face an additional bill this year, this may be a good thing. Read on.

Documenting what you own

You own (and wear, I hope) clothes, shoes, and accessories. Look around just one room?s contents, beds, chairs, photographs, rugs, appliances, family mementoes. No one saves receipts forever; some, throw every one away, initially. How are you going to prove cost of anything? Two ways:

Start a spreadsheet electronically, or on lined paper. Go through every single room in your house, list every single item. If you don?t know the value, take a guess at the year purchased and the original cost. For every new purchase, list the same way (and try to keep the receipt)

Take a picture of every room in your house, from several angles. Also, take shots of special equipment, jewellery, your car, the outside of the house, the surrounding areas. Every single thing you own, including the dog, if you think it necessary.

Store this list and other personal papers away from your home, or in a watertight, non-flammable box.

Insurance policies are pretty direct in their terms, either it is covered or it is not. The best way to compare policies is to list the benefits that will be offered by each company and compared them on a line by line basis.

Reviewing these coverages and exclusions provides a far clearer picture of what your property & casualty policy really means.

If one policy provides a few additional coverages for the same money, plus the insurance company has a great claims payment record, your decision is easy. Fabian revisted. Hard-learned lessons were learned from this hurricane. Real Bermudian survivors already had Bermuda slate stored just for this occurrence!

And were generous in loaning it out too. There were so many act of kindness shown. We personally again thank our friend and neighbours for coming to our aid. Insurance will often cover stays at hotels and rental income loss when a home is inhabitable, but will not cover the horrendous cleanup outside.

In times of stress, it pays to be extra, extra careful when neighbours, friends and relatives are clearing brush with mechanical equipment (chain saws etc.).

No one wants to escort that great brother-in-law to hospital because he was not wearing safety glasses, leather chaps, and using chain guards!

Insurance companies are prepared to be reasonable; they are there to help you through contingency planning. Help yourself by making their job easier. Take out that policy and review it again ? now. Train your camera inward, before another vacation. Remember, in absence of proof to the contrary, those pictures may be the only thing between you and receiving a reasonable claim on your insurance policy.

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