What is an Insurance Asset Inventory?
If your home burnt down, could you prove what you owned?
Have your valuables been undervalued at the point of claim in the past?
Do you want to right size your contents insurance policy?
Has your insurance policy been voided due to underinsurance in the past?
Do you want proof of of your contents in case of a burglary or flood at home?
If your answer to any of the above is YES, Gayle Inventory can help!
Our Insurance Asset Inventories record the contents of your home and can be used to prove what you own in the case of a claim. It's not down to us to decide which items are valuable to you so our reports include everything from kitchenware, furniture and tools to artwork, jewellery and electronics. We record in excess of 500 items in the average family home, guaranteeing you a full 360 overview of your valuables. Each item is photographed and documented with an accurate description. We list serial numbers of electronics and appliances where possible and photograph purchase receipts and valuation certificates when they are provided.
When things go wrong and your personal possessions are lost, stolen or damaged beyond repair, the first thing an insurer will request is proof of purchase. Having an Inventory created by an experienced third-party company is the best way to prove what you own; especially in the case of a fire, theft or flood. Ensuring that in the case of a future claim you can get back to normality as quickly as possible.
Without an Inventory, an insurance company may estimate the cost to reimburse you for your loss based on a post incident inspection or the information you've provided (from memory or photographs). Potentially replacing lost or damaged items with the cheapest alternative, leaving you in a financial hole. With an Inventory you can make sure that you are reimbursed with like for like items; or the equivalent value of, meaning you don't have to recall everything from memory at a stressful or difficult time.
What are the Benefits?
Frequently asked questions
Insurance Asset Inventory
Why do I need a professional Insurance Asset Inventory?
Your home which holds years worth of belongings and family heirlooms of high sentimental and monetary value, are vulnerable to loss on any given day. But unfortunately, you can’t recover what you can’t recall. In the case of a claim, insurance companies are not obligated to replace items which you cannot prove you owned. A home asset inventory ensures that you can have proof in the case of a crisis, giving you immediate access to a visual record of what you own, eliminating the burden of having to remember it all at an emotional and stressful time. This greatly speeds up the claim process toward maximizing reimbursement of losses.
How can I prove ‘proof of purchase’ to my insurer?
Your Home Asset Inventory is the ideal solution for providing ‘proof of ownership’ and will document the contents of your home at a specific moment in time. If you have receipts or invoices for items you have purchased in your home, we can include photographic evidence of this in your inventory, this will provide evidence to prove when it was purchased and how much it cost.
Why should I hire you when I can do it myself?
A DIY home inventory is a time consuming task. It requires commitment, proper planning and conscious execution. And that’s without including estimated values, serial numbers, model numbers and accurate descriptions (if you could). Regardless, many DIY home inventory apps fall short of what a trained professional can cover—and uncover—on site in order to get a true and complete understanding of your possessions.
Do you appraise or value property?
Gayle Inventory is an asset documentation service only. We are not licensed or certified appraisers, we are not professionals in any type of cloth, artwork, antique or jewellery. We partner with reputable, local valuation experts who are qualified to appraise these items. All property values listed in your Home Asset Inventory will come from original receipts, certified valuations or estimated values.
Will I need to be present?
Yes, the homeowner or a representative will need to be present at all times.
Will I need to have a new Home Asset Inventory done every year?
No, we can simply conduct a re-inspection of your home and add receipts and photos of new purchases the following year, keeping your records up to date and valid. We recommend doing this yearly, so you can reap the full benefit in the case of an insurance claim.
Do you document everything including clothing?
As standard we itemise wardrobe 10 items per bedroom, e.g. 10 dresses, suits or a mixture of clothing pieces. A full wardrobe itemisation can be conducted but must scheduled in advance. Overview photos of remaining clothing items are taken.
How does a home inventory help me get the right insurance coverage?
A home inventory can help you “right-size” your insurance coverage by aligning it with what you actually own, and not just what the insurance company assumes you need. You may also discover you are actually “under insured,” and possibly find what may be critical gaps in coverage.
Can I trust you in my home?
All our inventory inspectors are DBS cleared and fully insured. We will only move, handle or acess rooms, wardrobes boxes etc with your permission. Our inspectors will remain professional at all times and it is company policy for our team to cover their shoes with clean shoe protectors as well as wearing gloves when handling items which are easily smeared or marked whilst in your home.
How much will it cost?
Our prices start at £400 and are based on the size of your home. We will conduct a detailed telephone consultation to determine the cost of your inspection and can schedule a home
visit for especially large or stately homes. If you have any large collections including clothing, wine or memorabilia that you would like itemized, please inform us during your consultation so we can give you an accurate quote.
How can I justify the cost?
An Insurance Asset Inventory costs about the same as just ONE valuable item in your home such as a mattress or TV. Our reports have enabled our clients to prove 40% more of their home contents, which without our help, wouldnt have been possible. Also consider the fact that you have priceless and items of sentimental value which wouldn’t otherwise be recorded.