12.08.11
Contents Cover Free Review
Key to contentment
The guilty pleasures of girls' shopping trips in London or
Paris - or the male equivalent of top of the range golf clubs,
hand-made Italian shoes, designer watches or sports accessories -
need to be confronted when contents insurance is reviewed because,
as Sydney Charles Insurance Associate Director Marilyn Greening
knows, the majority of us undervalue the items in our
homes.
'I am never sure whether people deliberately turn a blind eye to
the cost of lots of lovely things they have accumulated in their
homes or if, perhaps, they just forget how quickly the total rises,
but under-valuing contents is the biggest inaccuracy I encounter
when I meet clients to discuss taking on their cover,' said
Marilyn.
The value of a pile of Jimmy Choos in the dressing room and a
tasteful collection of designer handbags alongside them might have
a collective price tag that some of us prefer not to work out (on
the basis that it's less guilt-inducing to ignore the total) but
contents insurance needs to cover absolutely everything which needs
to be replaced in the event of a disaster.
'I sometimes wonder if it's a sense of modesty that stops
people from adding everything up, but the fact is that contents
need to be studied in detail. People will often direct me towards a
beautiful antique piece of furniture, gorgeous dining table or
fantastic artwork on the walls, but as part of our individual
consultation, I see every part of the home and, very often, the
full range of items in it far exceeds the value that they have in
mind. We go into the master bedroom and the walk-in wardrobe is
full of beautiful clothes and Louis Vuitton luggage or the garage
is full of expensive leisure gear and all of that needs to be part
of the valuation,' she pointed out.
The potential pitfalls of under-valuing is multiplied with
clients who have several homes. 'At Sydney Charles, we help a
fairly large number of clients who have houses in different parts
of the world. To make travelling simpler and spending time in
different locations as straightforward as possible, they often
leave large amounts of clothing and so on in each home so that they
can turn up with a minimal amount of luggage. The items in each
property need to be carefully assessed and we are always happy to
do that on an individual basis, not purely under a general formula.
It is all part of treating every client as an individual,' Marilyn
explained.
The expertise required for complex portfolios of property,
luxury yachts, vehicles and personal possessions is at the core of
Sydney Charles Insurance. Whilst the Group now includes several
areas of investment advice, key personnel cover and pension plans,
it was created as a niche insurance business by Philip Lepp. The
company works closely with Chubb Insurance, whose high net worth
household cover includes a complimentary visit by a specialist
(normally costing in the region of £500) and free travel
insurance.
'The HNW policies with Chubb are superb. Contents and valuables
are covered anywhere in the world, at any time so clients do not
have to put in place additional cover for holidays, business trips
or special events. Our clients are extremely busy people so we aim
to make their insurance arrangements as straightforward as possible
from their perspective - although, obviously, that requires huge
attention to detail on our part,' she said.
These policies also incorporate legal expenses and costs,
including cover for identity fraud, employment disputes, personal
injury cover and work legal defence cover. 'It also provides for
family protection and aspects such as accidental death, burglary
child abduction and hijacking.'
Marilyn is highly aware that, should a client have to make a
claim, it is crucially important to deal with it as swiftly as
possible. 'For non-complex claims, that is usually carried out
within 48 hours of the time that it is reported and we are always
at the end of the phone for clients, available 24/7,' she
concluded.
Marilyn can be contacted on 739970 or email
marilyn.greening@sydneycharles.co.uk