Documenting
Documenting
A well-documented inventory ensures that collectors are sufficiently prepared, in terms of insurance coverage, to deal with a potential loss. A detailed list of all pieces destroyed, damaged, or stolen is required to file an insurance claim.
Proper documentation ensures a faster and smoother claims process, as well as maximizing the insurance reimbursement. Documented proof of ownership is required to receive a settlement covering the full extent of the loss - the burden of proof rests with the collector.
Appraisal - Obtain an appraisal from a qualified horologist and/or gemologist that is certified, documenting the characteristics of each piece and its value. The appraisal should include manufacturer, purchase date, cost, model, and serial number.
Photos or Videos - Take photographs of each piece from various angles, being sure to include markings/serial numbers. A video of each piece is also helpful.
Document Storage - Store all inventory documentation in a safe location outside of your home (i.e. a bank safety deposit box).