Getting Your Possessions Valued for Contents Insurance

Do you know the value of the possessions you have in your home? If you’re like most of us, probably not, which is why so many people are shocked when they make an insurance claim to replace their possessions after major damage to their home.

So why do we lose perspective over the value of what’s in our home? This is partly because we typically amass our possessions over a long period of time. Even if we’re among the rare people who’ve kept the receipts, we don’t usually keep up with price increases. The replacement cost may be a good deal more than the original price.

And that’s if we’ve actually bought the item. If it was a gift or an inheritance, we don’t usually think about finding out the insurable value.

It helps to have a photograph of the item if its value isn’t known, but a genuine valuation is better. The Insurer usually stipulates an upper limit that can be paid for any individual item, unless its value has been specified in the policy documents. If an item isn’t listed, you may not receive its full replacement cost.

When you’re taking out a contents insurance policy, make sure it includes a list of what’s being covered, including items you may not expect to count as contents, such as flooring and carpets. The Insurer’s Loss Adjuster will always ask for a complete list of damaged or missing items when you make a claim.

New Strategies By Burglars

Have you ever noticed a sticker appearing on your gate, wall or door-post? They usually look innocent enough, just advertising the 24 hour services of a local plumber, locksmith or electrician. Perhaps useful, perhaps annoying, but there can’t be any harm in them, can there?

Sometimes there isn’t, but the company may not have put them there — it may not even exist. Stickers like this are increasingly being used as code by burglars, marking houses for future burglary.

If you find a sticker of this kind:

• Remove it at once.
• Contact the company (if it exists) to find out if they put it there.
• If not, notify the police.
• Make sure that all your locks are secure.

Disposal of Valuables

An occupational hazard of being a burglar has always been the risk of getting caught with your valuables while making a getaway — but the modern burglar is getting around this.

“Cash for Gold” envelopes are intended to allow law-abiding people to post small valuables and be sent cash in return, instead of having to take things to the local pawn shop. Unfortunately, this also works for burglars and their ill-gotten gains. If the envelope is posted at the nearest letter-box, the burglar is carrying no incriminating evidence.

The main things you can do about this are increase your security and mark all your valuables so they may be recoverable. And, always, make sure your contents insurance is up to date.

In the unfortunate event of suffering a loss through burglars and you need to make a claim you can contact us here >>>