It depends on what type of valuation you’re having. With a jewellery valuation, a valuer will come to your house and work piece by piece through your jewellery collection. You don’t have to worry about transporting your jewellery anywhere, and the valuer can take a very detailed inventory of the items covering things like colour and type of stones, clarity and carat size. I feel it’s an important one, because it allows valuers to check the condition of clasps and settings to make sure they're not loose or damaged.
"When it comes to contents or Fine Art valuation, there are a couple of different types. You can have an inventory - this is where a valuer comes in to just do an inventory of the things that are important to you. They might just be looking at your furniture and paintings, for example. Or, you can have a complete inventory of your whole home. That's really useful as it will tell you exactly what you’ve got and what it should be insured for. In this uncertain world we live in, we've all suddenly realised that our health is so important and that we cannot live for ever and I think a lot of people are taking stock of their possessions. So, in many ways, people are having an inventory done because it gives them that great level of detail and reassurance too.
"We also have something called a home contents appraisal. With this, a valuer is not doing a complete inventory, but they're taking an overview of what all the contents in the home amounts to. It’s useful because people lose track of what they’ve got over time. One of the most common reasons for underinsurance is people forget to include the daily items - the paperbacks on the bookcase, the pots and pans in the cupboard, the clothes and carpets and all those things we take for granted. With a home contents appraisal, you get a professional valuer in your home and they will go around the whole house, assessing what you’ve got. In the end you don’t only get the category breakdown and overall total that you need for your insurance, but it gives you peace of mind. If something does happen and your possessions are damaged, if you have an independent valuation you’re not going to have those arguments with the insurance company. It saves a lot of stress at an already stressful time.