Creating Proof of OwnershipMake insurance claims easier by documenting what you own.

It's not enough to have insurance. If you file a claim, you need to tell the insurance company exactly what you've lost and how much it was worth. "An insurance policy is designed to protect what you have, but if there is no way to define that, [it's] a nightmare," says Lance Mayfield, a Farmers insurance and financial services agent in Viburnum, Missouri.

Providing a detailed record of your furnishings, equipment, supplies, inventory and raw materials will expedite your claim, ensure you're paid everything you're entitled to, and speed up the disaster recovery process, Mayfield says.