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Clark videos all his possessions once per year and uploads the video to the cloud. He says you should too. Find out why later in this email.

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📹️ Why You Should Make a Video of All Your Possessions

Insurance companies are not your friends. They make it hard for you to get the money you should when you file a claim. Shocking, I know.

What if I told you there’s something you can do to better protect the value of your possessions in case of a catastrophe such as a hurricane, tornado, earthquake, fire, flood or burglary?

First, know what to expect from your insurer.

“The insurer is going to fight you like you’re in UFC,” Clark says on the Nov. 30 podcast. “But they’re both kicking and punching you and you’re just standing there as the punching bag.

“Because the insurers are going to be really, really harsh and hard to deal with. Not every insurer, not every time. But it seems the general trend in this area is not your friend.”

The answer? Take a video of your home, apartment or condo once per year. And note every item that you own. If possible, provide proof of the price of each item in the video as well.

Clark and his wife do this annually.

“You get a lot of things over the course of your years. But you’re never going to remember all of them,” Clark says. “Especially with the emotional upset you’ll have about whatever catastrophe.

“Let’s hope that nothing ever happens in your life that harms your possessions. But if it does happen, you’ve been paying for insurance. You might as well get the money you’re entitled to.”

If your insurance company offers replacement value coverage, buy it.

“Because the other game insurers play is they depreciate out your stuff so much,” Clark says. “They’ll say, yeah, you may have paid $383 for that last year. But now this year we think it’s worth $0.12.”

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🎙️ Podcast

If you lose your possessions to a burglary or other unfortunate event in your home, it can be really difficult to work with insurance companies. Clark shares his process to document the items in his home and how frequently he creates their digital inventory. Also, Americans are living longer and longer. While this is great news, the probability grows that we’ll need long term care. Clark explains what we need to do to prepare for the cost.

☎️ Need Money Help?

The Team Clark Consumer Action Center is a free helpline that can help you navigate your money questions. Call 636-492-5275. Visit clark.com/cac for more information.

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