Interested to know how people deal with security of expensive Naim kit. For example Smart Water marking. Do you add items to your household insurance policy?. I think mine allows up to £8,000 by default
Spoke to my insurance broker about a year ago and while I was a little embarrassed explaining the value, she said it would be covered without a special rider both theft and damages
I had quite a few problems attempting to insure my hi-fi systems and CD/Record collections with previous insurers up until I hit on my current home/contents insurance provider.
Previously, I was expected to list every single item individually, but with a strict limit as to what my insurance would cover for each item. My current home insurer (a large UK wide Financial Services firm) does not require me to list individual items (although I think that I have done so anyway), and I have been promised that the full value of my hi-fi systems and record collection will be covered.
I have been told that a note has been added to my policy to confirm that this is the case.
This does of course rather tie me into my current provider, but I am happy to accept this.
All my property is fully covered by insurance
In the case of the Naim & similar items, its all new for old.
Renewed my home insurance last month, accidental cover, new for old and all my Naim kit is covered provided any individual item does not exceed £60.000.
I didn’t have to list the Naim kit individually only watches , jewerly and artwork over £5,000 need to be notified individualy.
I take photos, the systems photo thread is a wonderful bit of proof for loss adjustors as is boxes and as is registering your product
Same here, and most if not all of the boxes my equipment came in are stored somewhere in my loft.
Hi, you may like to refer to my rather long post in an earlier thread posted in the ‘Padded Cell’ section of this forum:-
It is about number 22 in the thread.
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I have several photos and a spreadsheet detailing all the hifi, TVs computers etc on a spread sheet kept on a USB stick away from the house.
Insurers seem to vary quite widely with regard to what they will cover, and what items you need to declare. It’s simply a question of reading the small print and making sure you comply.
Photos are certainly a good idea, and make sure they include the back panel with model and serial number included.
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Interesting thanks. I hadn’t thought about pictures as proof I have pics for remembering connections anyway. Must admit I do feel a little apprehensive having to inform insurance company of the value of each item but I will check with them.
I think it’s not just about getting them covered, but what you have to do to make a successful claim. So even if you don’t need all the evidence when they write the policy, you may well do if you claim, including that a loss adjuster may wish to be persuaded that you aren’t underinsured, even if you are only claiming for one item that got dropped for example.
Best
David
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Most decent insurers have unlimited contents so you won’t need to tell them the eye watering detail. We went with Aviva Plus this year and it was easy peasy. HiFi is standard contents; it’s only valuables, particularly those you take outside the house, where there are limits.
I spoke to my insurance company a few years back when my (then) system topped £30k
They didn’t want to know the details…just made a note on the policy about it and charged me an extra £20
More than happy with that
I just got back from New Years Eve at my father in law’s house. While there I inquired as to whether his home contents insurance would cover the stuff I have stashed there. He asked how much the boxes of crap in his spare room are worth and I told him there was $60k of hifi in there. Then he told me “well I cancelled home contents two years ago. It’s a scam you know.”
I went into the spare room to check on the boxes. The thermometer on the wall read -1c. Great place to store stuff. No security.
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This is a very good point. I worked for a firm of loss adjusters so I should have known but it was no fun when we made a claim (it was actually two claims - contents and structure) re a Rayburn fire to have to put a value on everything in the house for the loss adjuster to check we were not underinsured and hope it didn’t beat the sum insured. We were ok, fortunately
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