Home Insurance Top Tip

This is a short article on a simple but practical way in which homeowners can save a lot of time and heartache in the event of a severe loss, such as a large fire at their property.?

Although the writing of this article has been prompted by one of my neighbours suffering just such a loss, the reality is that I have seen similar situations many times over during my 43-year career in the insurance industry.?

As if losing one’s personal possessions is not enough, a long and drawn out claims settlement process is the last thing you want.?

Over the past few years, insurers have streamlined their claims procedures in order to drive efficiencies. In doing so, they have improved the speed at which claims are settled. You would think this was a ‘win-win’ but the reality is often somewhat different.?

The first thing an insurer will want to do once they’ve established you have a valid claim is quantify the loss and ensure that you have adequate cover in place.?

Let’s go back to my elderly neighbour, who suffered a total loss at her apartment following a major fire. The lady concerned had possessions dating back some 50 years or more. Many of the items had been stored in the loft and cupboards since she moved in. Ignoring the fact that our memory tends to fade as we get older, who on earth can remember all the possessions they have accumulated over the years??

"Who on earth can remember all the possessions they have accumulated over the years?"

For readers too young to remember, the BBC launched a show called The Generation Game back in 1971 starring Anthea Redfern. Items would pass in front of the contestants on a conveyor belt before they had to recall as many items as they could in 20 seconds. Many contestants found it almost impossible to remember more than 3 or 4 items.?

I’m telling you this because it demonstrates how difficult it is to remember items seen mere seconds ago. Now imagine having to do that with items you bought 20 or more years ago!

There is, in fact, a very simple but effective way of addressing this particular issue. All one has to do is periodically (say 2 or 3 times a year) take photographs (on your mobile phone if you have one) of each room.?

Where items are stored in cupboards, simply open the doors and photograph the contents. In the case of particularly valuable items, such as works of art, I recommend individually photographing these.?

Once you have a full set of photographs, email them to yourself in case you ever need to access them. One can, of course, back up the photos to an external hard drive or similar, but these devices can fail or be lost. An email or a cloud-based solution is generally the best option.?

This method is by no means foolproof because items in cupboards are not always visible, but it’s much better than relying on your memory, especially following a traumatic event.?

Of course, photographing one’s personal possessions is only part of the solution to a hassle-free claims settlement. Keeping receipts and ensuring that one’s sums insured are adequate are just as important.?

I hope you find this ‘top tip’ useful. If you are ever unfortunate enough to suffer a major loss, it will prove to be one of the best 10 minutes you’ve spent taking photographs!

Robin Plaster is CEO of One Broker, an independent insurance broker with offices in Norwich and Cambridge.