Hartman Inventory, LLC

Not A Romantic Topic

February 22, 2012 | Author Cindy

Last week was Valentine’s Day. Romance was in the air and all over social media. Now we’re back to “normal.” Though not a romantic topic, I wanted to share the common-sense reasons for a prenuptial agreement.

Essentially a business document that is created to determine financial equality, many think of a prenuptial agreement only as protection in case of divorce. Not so! It’s a way to enter a marriage knowing you’ve made a fair and honest decision about your financial goals as a couple. You’ll have created a plan for your future as your wealth grows over the years. To know where you are now, and what plans you have for the many years to come, will help you build your marriage on a solid foundation.

A prenuptial agreement will also help with estate planning, as these two documents serve many of the same purposes. You’ll plan for your future together, making financial decisions now that will benefit you in later years.

Another key reason for a prenup is to state what specific items are to be passed on to which child. This is especially important when the happy couple merges two households, which includes children from previous marriages. You can identify the family heirlooms and sentimental items that belong to your family. It will state who should receive these items, which will serve a great purpose whether the need to refer to this document happens due to divorce or death. Knowing your children will have what should be theirs creates a high comfort level for them and trust among all family members.

A personal property inventory is the perfect start to creating a prenuptial agreement, as you will need to list the belongings of each person prior to the joining of households. A nationally certified home inventory professional can provide a thorough inventory for you, as you continue to make the fun, romantic plans for the wedding.

If you’re already married, it’s not too late to create this document. The inventory professional can identify who owned the items prior to the marriage.

Romantic? No. A necessary document? Yes.

Posted in personal property inventory / home inventory | Tags: divorce, marriage, prenup, Prenuptial | No Comments »

Beyond Tradition This Valentine’s Day

February 15, 2012 | Author Cindy

Jewelry. Candy. Flowers. These were the main items that people gave and received on Valentine’s Day in years past. However, the electronic era has arrived, and we found that many people today look way beyond the traditional gifts.

Through input from Facebook and Twitter followers, we found some still want jewelry, manicures, massages and a romantic dinner. A large number, though, are hoping to receive iPods, iPads, tablets, smart phones and even a big screen TV! Yes, the electronic era has arrived!

We take this opportunity to remind those of you who have a home inventory to update your information by adding your new items to the list. If you don’t have an inventory, this is as good a time as any to begin one, starting with your newest electronic gift you received from your valentine.

Why? When these items are stolen – or lost due to a fire or disaster – you’ll want proof of ownership so you can have it replaced with an equal quality product. Be sure to list the model number, serial number and gigabytes. These three pieces of information will help ensure that you receive a maximized insurance claim.

As for the traditional Valentine’s Day gifts…definitely add your jewelry to your inventory and get it appraised if it’s of high value.

Though you’ll totally appreciate flowers and candy, these items will soon be gone. No need to inventory these! Just enjoy them, and count the many ways …!

Posted in personal property inventory / home inventory | Tags: disaster, fire, home inventory, Valentine's Day | No Comments »

Airing Your Dirty Laundry

February 8, 2012 | Author Cindy

This phrase is often used when people tell things about themselves that others might not know. And, it’s usually not-such-great-stuff (therefore, “dirty”) that they share. The intent is to air all of your dirt so you feel better. Thus, “airing your dirty laundry.”

This time, however, we’re talking about real laundry. Dirty clothes that were washed and then placed in your dryer. The next time you do your laundry, consider this information.

According to the National Fire Protection Association (NFPA), dryers and washing machines were involved in one out of every 23 home structure fires reported in 2003-2006 (most recent statistics). Dryers accounted for 92% of the fires, washing machines, 4% and washer/dryer combos, 3%, for a total of $194 million in property damage!

Failure to clean the appliances is the leading cause of these fires!

To help you prevent fires related to washing machines and dryers, here are 5 safety tips:

1. Do not use the dryer without a lint filter.

2. Clean the lint filter before or after each load of laundry.

3. Remove lint that has collected around the drum.

4. Don’t overload your dryer.

5. Turn the dryer off if you leave home or when you go to bed.

For additional washer and dryer safety tips, visit the NFPA website.

No one expects to have a fire. Similar to a car accident – no one anticipates one, but there certainly are a lot of them every day! Take precautions. Also have a home inventory. Then, if you do have a fire, you’ll be able to recover quickly and with a greater insurance settlement.

Posted in insurance, personal property inventory / home inventory | Tags: fire, insurance, NFPA | No Comments »

Dealing With Disaster – Keeping Your Business Afloat

February 6, 2012 | Author Cindy

Catastrophes happen on a daily basis, and all companies must have a plan in place to stay in business. You might be a new company, with just a few months under your belt, and having invested your life savings to pursue your entrepreneurial dream. Or possibly you are a well-established, extremely successful business owner. Either of these scenarios – and all those in between – could be at risk of survival if your business is destroyed. Often the destruction happens in seconds. A fire, earthquake, tornado or other disaster can and does happen.

Are you prepared? A business continuity plan is essential. The Houston Area Research Center cites these statistics in support of the investment of time and money into creating a plan:

35–40% of businesses without a continuity plan never reopen when disrupted by a disaster.
Every dollar spent on disaster preparedness saves $7 in recovering disaster related economic losses.

Your ability to reopen quickly is imperative. The sooner you are back in business, the less you’ll suffer from lost revenues. Customers will be retained because they are aware you’re down time will be minimal. And, extremely important, is how this will impact your employees. As a business owner, you’ll want to get them all back to work so they don’t experience a financial hardship for their families.

When creating your business continuity plan, there are many questions to ask and then answer. Here are my top 10:

What disasters could we face (natural and man-made)?
What operations are critical to open quickly?
Do we have a data backup in place to be able to access our records from any location?
Who are our key resources (utilities, insurance agent, CPA, etc.)?
Who are our key suppliers and do they have a business continuity plan?
Do we have a relationship established to ensure we will be one of the first served if we experience a wide-spread disaster (tornado or flood vs. one-building fire)?
Where can we set up a temporary location, and who will direct the process?
What supplies, inventory and equipment will be needed immediately?
Is our employee call chain up to date, and does each employee know what their role is in our disaster plan?
Do we have an inventory of all of our assets so we can complete an insurance claim quickly and thoroughly, and maximize the claim for proper financial recovery?

Though this is just the tip of the iceberg in business continuity planning, it is a good start to begin the necessary steps for preparedness. Without a plan, the odds are far greater that you will not re-open if you’re forced to close.

Posted in disaster, entrepreneur / small business | Tags: Business Continuity Plan, business owner, disaster, disaster preparedness, entrepreneur, fire, tornado | No Comments »

February Is Bake For Family Fun Month

February 2, 2012 | Author Cindy

According to McGraw-Hill Professional, February is “Bake For Family Fun” month. You’re probably wondering what this has to do with a home inventory. I’m not talking about counting chocolate chips or pounds of sugar or flour (though we do take pictures of food when providing our nationally certified home inventory service).

The big question is, do you know how many pots, pans, mixing bowls and baking dishes you own? During this month, while you’re having fun baking with your family, pay attention to how many of these items you’ve collected over the years. I’m sure you’ll be surprised.

Next, look at your drawers of utensils. Again, you probably wouldn’t be able to list them all, especially after a disaster. And if you have the high-end brands, you’re even looking at the chance for a higher loss than if all were purchased at a discount store.

The last thing to consider is your mixer. Do you own a hand mixer or a top of the line counter top model? And possibly a full set of accessories as well?

Often there is a lot of money spent on kitchen items. They are frequently forgotten because they become part of every day life to where they become “part of the landscape.” On the opposite side of the issue, they are used so rarely that you forget you even own them, let alone be able to name the manufacturer and the model number and serial number.

List all of these items while you have them out, mixing your favorite cookies, cakes and brownies. This will be a good start on creating your home inventory.

Posted in personal property inventory / home inventory | Tags: bake for family fun, home inventory, McGraw-Hill, nationally certified | No Comments »

5 Reasons Insurance Agents Refer Home Inventory Services

January 31, 2012 | Author Cindy

Why would an insurance company want their policyholders to have an inventory of their belongings?

This is a question we’re often asked when talking to people who are interested in starting an inventory business with the guidance and advice through the Hartman Inventory Systems and becoming an member of the Hartman Inventory Group.

We’ve asked that same question to agents, regional managers, area directors and corporate executives. Every single person answered that an inventory will help the policyholder maximize their claim. Visit any insurance company’s website, and you’ll find this information for all to read. They encourage personal property inventories for their commercial and homeowner policyholders. To many, it sounds counter-intuitive. Most suspect that the insurance companies don’t want to pay out, so why suggest an inventory?

You’d think that insurance agents would rather their clients not recover well after a disaster. After all, having an inventory to refer to results in a much higher dollar settlement. Nevertheless, here are the top 5 reasons why they encourage their customers to do so:

1. Honesty When your agent tells you it is important to have an inventory, suggests that you create one, or refers an inventory service professional, they are being honest. They know the company will require a list of the items you want replaced, so you’ll recover better if you have this information. And they also know how difficult it will be if you don’t.

2. Customer Service If you don’t have an inventory, then need to file a claim, there is little they can do to help you remember what you owned. This will be between you and the adjuster, not your agent. Your agent knows that part of good customer service is educating you and making sure you realize the importance of having this information documented before you need it.

3. Saves the agent time and frustration Consider how much smoother a claim will be if you have an inventory. Then think of the stress, strain, and turmoil you’ll experience if you don’t have the photos and written report to help you complete the claim process. Agents spend a great deal of time with disaster victims because of repeated phone calls in which they receive requests for assistance and advice. They also find themselves fielding many complaints when their customers discovered they needed an inventory and state they were never told to create one.

4. Renewals You’ve heard that it costs more to find a new customer than it does to keep a current one. If the agent doesn’t tell their insured that they should have an inventory, they risk losing that customer as soon as the insurance claim is settled. I spoke with a person who had a house and barn destroyed by a tornado. Stating that his agent never told him to compile an inventory of his belongings, he was quite emphatic that he would be finding a new agent as soon as his claim was settled. Unhappy customers don’t remain as customers.

5. Referrals Insurance agents depend on referrals (as many professionals do) to build their businesses. The person I mentioned above believed that his agent, “didn’t care about what would happen to me, he just worried about his own loss when people file a claim.” Though I don’t believe this to be true, perception is reality, and it is heightened when someone is stressed and making quick judgments. He will also be inclined to tell all of his friends and neighbors. He actually even told me, a total stranger. Keeping customers happy brings new customers.

Insurance agents know how busy their customers are, and know the inventory service provider will be of great assistance before and after a loss. Their customers are happy because the agent referred a service that was of great benefit.

(We have arranged to provide a discount with many local insurance agents – ask your agent today! We are bonded and insured and have recently completed our national certification.)

Posted in insurance, personal property inventory / home inventory | Tags: disaster, Hartman Inventory Group Member, Hartman Inventory Sytems, home inventory, home inventory professional, insurance agent, National Inventory Certification Association, nationally certified, personal property inventory / home inventory | No Comments »

Home Inventory Service – The Good News and The Bad News

January 27, 2012 | Author Cindy

“I never heard of a personal property inventory service. What a great idea!” That was often the response I received years ago when I told people about the new business my husband and I started. Then, unfortunately, most people would ask, “Why would I need one; I have insurance?”

First, of course – the good news!

The personal property (home) inventory industry has grown very slowly over decades, and is now becoming acknowledged as a viable and beneficial – if not essential – business. One key reason for the acceptance of this service is public knowledge of the importance of having an inventory of one’s belongings.

The number one reason people are aware of this need is their insurance agent tells them to create an inventory of their contents. Many insurance companies even give a worksheet to their policyholders. As the boomers reach retirement age, and begin their estate planning, they see the value in having this information. If a disaster happens, and there is no document to help remember, the chances of receiving an equitable settlement from the insurance company is very low. Having an inventory will help ensure their estate is worth every penny is it worth now. Not having proper financial recovery after a disaster could mean less money (if any) that remains for the children or grandchildren. If you can’t recover properly from a disaster, you’ll most likely withdraw funds from a retirement fund.

Another reason the inventory service sector is growing is that these boomers want the inventory now so their adult child/executor will not need to compile the information after the parent dies. It’s a great gift to the executor to have already had the inventory created.

And now, the bad news

This isn’t bad news for the inventory professionals. It’s really bad news for the general public and business owners. There are still not enough people who know how their insurance process works. This means that there are a large number of people who believe they will just get a check in the mail for the amount of their insurance. Ask any insurance agent, and they’ll tell you that you need to complete a claim form, itemizing each item you want reimbursed for, when you bought it and how much you paid for it. That includes even items in a junk drawer.

The same is often true for a divorce. When you’re determining value of household items, having a list created prior to “issues” will certainly be a benefit when it’s time to split possessions.

So, the good news is that more people are learning about the need for an inventory, and more are creating one or hiring a nationally certified professional service to do it for them. More are learning why they need an inventory. The bad news is there still are not enough people and businesses with this information. Until everyone learns of all the reasons for this valuable document, people will continue to face the daunting task of creating a list of belongings after the disaster hits, after someone dies, after the divorce papers are served, etc. Waiting until “after” is often too late.

Posted in insurance, personal property inventory / home inventory | Tags: home inventory, insurance, National Inventory Certification Association, nationally certified, personal property inventory / home inventory | No Comments »

Get Organized!

January 23, 2012 | Author Cindy

January is Get Organized month, so I’m guessing that totes and baskets are being purchased in record numbers. But before buying all those containers, check out this article that is posted on WebMD.com. It talks about the most common clutter spots in a house and how to understand the scope of your de-cluttering project before spending any money. Other key topics include the necessity of getting rid of clothes you no longer wear, and discarding duplicates of items.

So what does all of this have to do with a home inventory? After you’ve completed your decluttering, look at the piles and piles of items – or the number of bags and boxes full what clothes and household items that you donated to a charity. Would you have remembered all of those items if you had a disaster? Most likely not.

You don’t need to de-clutter before having an inventory service document your belongings. However, now that you have organized your home, it’s a great time to have your contents documented. You’re in the mode of being organized, and a home inventory is an ideal follow-up to getting organized.

Posted in personal property inventory / home inventory | Tags: de-clutter, home inventory, organize | No Comments »

You Did NOT Just Say That!

January 19, 2012 | Author Cindy

The home inventory industry is fairly new, even though there have been service providers for at least 15 years. Until recently, though, it was just a small number, scattered across the country.

The past few years have seen a change, turning the home inventory service into an “industry.” This is great news, as it’s a very important service for many reasons, from disaster preparedness to estate planning, to pre-nuptials, and even asset management for business owners.

Even the name “home inventory” is a misnomer now, since inventories are being completed for churches, storage units, businesses, rental units, apartments and even boats. Many people now refer to it as “personal property inventory” instead to indicate that they document the contents of commercial buildings in addition to houses.

Whatever you want to call it, it’s a service that is essential for all the reasons noted above. As more people realize the need and see the value in hiring a professional, I have a word of caution. Beware and make sure you’re dealing with knowledgeable, experienced inventory professionals. There are many out there! Visit their websites, read their blogs and ask for referrals. Using a nationally certified professional is just one more way to know they are trustworthy companies. Ask if they are bonded and insured.

While reading a blog post recently, I noticed the grammar was such that I certainly would not do business with the person who offered this information. For example, this is from the first paragraph: “You have finally determined to conduct a home inventory. So, what’s do you do first, you might be probably asking. “How do I do a home inventory?” Properly, I have some nice news for you. ”

This was my first clue that I was not reading a post from a professional home inventory service professional.

Then when I continued to the step-by-step instructions, I read: “STEP 1: Clean your home.”

I said to myself, “You did NOT just say that!”

This was the 2nd clue that told me this is a person who is not offering good advice, and has probably never done an inventory. As you can see, needing to clean before an inventory is scheduled is far from the truth.

So now you might be asking yourself why you should believe what I’m saying. Here are a couple reasons – we are in our 8th year of providing professional inventory services, we are bonded and insured, and have testimonials on our website. To help others learn this industry we have created a turnkey business package and are now sought to train and mentor others. Oh! One more thing – we are nationally certified by the National Inventory Certification Association, and all of our Group Members are certified as well, so you know you can feel comfortable hiring the professionals in your area.

Give us a call – we won’t make you clean your house before we come!

Posted in personal property inventory / home inventory | Tags: home inventory, National Inventory Certification Association, nationally certified | No Comments »

Home Inventories Are Essential For Estate Settlement

January 16, 2012 | Author Cindy

Though not a favorite topic for anyone to discuss, we wanted to share the importance of preparing a home inventory now rather than leaving that task to your executor.

Estate Settlement
Being an executor of an estate is a time-consuming, emotionally draining experience. Most people choose an adult child to take on those responsibilties. Have you considered what you can do to make this easier for him or her?

One required task will be to compile an inventory of the estate’s assets. Consider how difficult this will be for your executor as he or she prepares this document. Emotions aside, they will also need to find the time to document the items and assign a market value to each. One executor stated that he sat for hours staring at a blank piece of paper. He didn’t know where to begin, what he should list, or how to know what value to place on each item. Most prominent was the sadness he felt when thinking about looking through everything in the house. Additionally, he was from out of state and knew it would require him to be absent from his job for a few more days. Having the inventory professionally prepared addressed all of these issues.

How can you prevent this from happening to your adult children/executor?

Estate Planning
Creating an inventory of your personal property now will ease the estate settlement process for your executor. At your death, the inventory proces will have already been taken care of it. The only changes necessary will be making any recent updates and changing the replacement value of each item to the fair market value. That will be a very small task compared to compiling the entire inventory.

Whether you are elderly or just entering your adult life, an inventory is a living document that is extremely important to have prepared. For now, to ensure a maximized insurance claim after a loss. And for later, to ease the stress your executor will face.

Posted in personal property inventory / home inventory | Tags: estate, estate planning, estate settlement, executor, home inventory | No Comments »