Sneakers have evolved from practical footwear to coveted fashion accessories, making them the biggest-selling category in the online luxury market. The market was valued at approximately $79 billion in 2020 and is projected to reach $120 billion by 2026. However, collecting sneakers, like any fashion item, can take years of effort and investment, making it devastating to lose them in natural disasters.
ServiceMaster Restore recognizes the importance of accurately documenting one’s belongings before unforeseen circumstances occur. Unfortunately, a survey by ValuePenguin shows that 45% of Americans do not know what their insurance covers related to natural disaster claims, and only 26% have additional natural disaster insurance policies.
Without proper preparation, dealing with the loss of unique and irreplaceable statement pieces can be emotionally stressful and incredibly costly.
To avoid such losses, policyholders should have a household inventory list that includes a detailed account of everything in their home, from the closet to the attic. Creating a comprehensive inventory list might require some time and effort. Here are tips to help individuals build an inventory list for their closet:
- Consider all items inside and outside of the closet
- Walk through the closet and record each item’s age, make, model, serial number, and estimated value
- Take photos or videos of all significant fashion items to include with the written list
- Keep receipts, purchase contracts, and appraisals with the inventory list
- Consider using an app or a document within a cloud-based system to store the inventory list
- Make copies of the inventory list and back it up online or on an external drive
- Keep the list updated as new purchases are made
- Check insurance coverage for high-value items
Sneakers have become a highly sought-after fashion accessory, and their value in the luxury market continues to grow. However, the loss of such items due to natural disasters can be emotionally and financially devastating.
To mitigate these losses, individuals should develop a comprehensive household inventory list that includes their closet’s contents, take photos or videos, and keep receipts and appraisals. Storing the list online or in a cloud-based system and updating it regularly will ensure that it remains current and useful.
Additionally, checking insurance coverage for high-value items can provide policyholders with peace of mind.