J001010 - Lycetts Newsletter Jan 2024 LR - Flipbook - Page 19
W H AT TO E X PEC T
F ROM A N
I NSU R A NCE SU RV E Y
Insurers are increasingly likely to require a
survey of your home to be carried out, so what
does such a survey entail?
Sebastian Pryke MA
(Hons) PhD FSA Scot
Independent Risk and
Valuation Adviser
In no particular order, the surveyor will want an
informal chat about the property, a quick tour of
the house, outbuildings and grounds, after which
they will measure the buildings. Depending on the
size of your property it may take an hour or two. It
is not an inspection, or a structural survey, or an
antiques or jewellery valuation; it is just a general
overview and not something you need to prepare
for in any specific way.
YOUR PROPERT Y
The surveyor will be wanting to gather a rough
overview of your home. How is it heated – oil, gas,
renewables? What are the other services? Have you
restored or extended it, replaced services such as
boilers, re-wired or upgraded the electrics, made
general improvements such as upgrading
bathrooms, kitchens, or redecorating? Do you have
a general programme of maintenance?
If you have outbuildings – garages, stables, garden
pavilions, a swimming pool, tennis court, or
otherwise, they will want to see them, at least in
passing.
LIFESTYLE
Without prejudice, it is helpful for the surveyor to
know who lives at your home, how it is occupied
(are you regularly away for long periods of time, for
instance), if there is any commercial or charitable
activity, whether you have any regular staff and on
what basis they are employed. The latter point is
increasingly relevant in an age of public and
employer’s liability.
RISK MANAGEMENT
Overall details of security and fire protection are
very important. This may include a discussion
about intruder (burglar) alarms, or otherwise;
smoke detection or fire alarms; and whether either
or both are remotely monitored, and details of this.
The means by which your alarm is monitored is
likely to be raised as BT Redcare, which has been
one of the industry’s standard ways of signalling to
a monitoring station, is soon to be withdrawn and
alarm companies are using a variety of alternatives.
Also, physical security measures which you have in
place (do not underestimate these) such as door
and window locks, gates, lighting etc, and details of
your safe, or safes, and their locations, especially if
you have significant valuables sums insured.
Other more practical areas, if relevant, may be
touched on such as leak or ingress of water
prevention, especially if you have a basement, or
are away for long periods, management of trees,
condition of oil tanks, lightning conductors, water
supplies and general access for fire fighting etc. If
you have had a claim, remedial works to mitigate
any future claims will be relevant.
VA LUATION S
As stated previously, the surveyor will not
undertake formal valuations of your contents,
valuables, collections, antiques or fine art, but will
want to have a conversation about the sums which
you have insured – if you have had valuations done,
it may be useful to have them to hand. This is an
important aspect of the survey and can be
extremely helpful; it will help make sure that you
have appropriate cover should you ever need to
make a claim.
BUILDING SUMS INSURED
This is one of the most important aspects of the
survey. The surveyor needs to look around your
property to see what features there are internally
and what cost implications these may have in the
event of a catastrophe. They will measure outside
(external floor areas are used to generate
reinstatement costs) and take photographs as
necessary; these are useful as surveys are always
subject to a sense checking process, to ensure that
they are as accurate and fair as possible.
For more information about Sebastian Pryke
visit www.atthesignofthepelican.co.uk
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