You can do everything right.
You can have cover in place.
You can pay premiums on time.
Then a fire, theft, or storm hits your home.
And you could learn a tough lesson: This is why checking your insurance values matters more than you think.
The real risk
Most households add value quietly over time. A few small purchases each month. A new laptop. New sunglasses. A few bottles added to the wine or whisky cellar. A bike upgrade.
It doesn’t feel dramatic. Until you have to replace it all at once.
At Barkers, we work hard to guide you, offer expert insight, and risk management solutions to ensure that your cover is well-suited to your needs. But the most crucial step lies with you, regularly reviewing your cover as things change.
Why your contents inventory matters
Most people underestimate the total value of what they own. Without an inventory, it’s easy to overlook items, which can leave you underinsured. An up-to-date inventory helps you calculate the correct total value, so we can cover you accurately in the event of a loss.
An inventory makes it clear if you own high-value items that may need additional cover, such as jewellery, electronics, or collectibles. This ensures there are no surprises when you submit a claim.
After a burglary, fire, or major loss, remembering everything you owned becomes extremely difficult, especially when you’re stressed.
Underinsurance and average in plain English
If your contents are insured for less than the true replacement value, you may be underinsured.
It is a common misconception that, because content may be old, it is worth less than it actually is. If disaster strikes and you’re underinsured, payouts are reduced proportionally, and “average” may apply. An accurate inventory helps prevent this costly mistake.
A simple worked example
- True replacement value of your contents: R1 000 000
- You insure for R700 000
- You are insured for 70%
- A claim happens for R100 000
- Average may reduce the claim to about R70 000
- You may need to fund the shortfall
This depends on your policy wording and the section of cover involved. We’ll help you check what applies to you.
Two scenarios we see in real life
- The bedroom cupboard fire
A fire damages a bedroom and cupboard contents. The household insured for what felt like enough. But underestimated the real value of handbags, sunglasses, shoes, watches, and jewellery.
The schedule number looked fine. The inventory was not.
- The R30 000 estimate
A client believed a handbag collection was worth about R30 000. When we walked through replacement values, it was closer to R300 000.
That gap matters. Not because anyone did something wrong. Because many of these items are acquired gradually. And prices rise.
Current landscape reality
Homes face real loss events. Fires. Severe storms. Flooding. Power-related incidents.
When entire rooms are damaged, underinsurance becomes apparent quickly. That’s why we recommend small, regular updates, not just once every few years. Household contents may seem like irrelevant cover, but these are assets you’ve acquired over time that have value, and if lost, can have devastating financial consequences.
I don’t know where to start
Start small. Make it easy.
The 15-minute inventory session
- Choose one room.
- Start small. Stay focused.
- List big items first
- Then list what you see
- Include quantity
- Include make and model where relevant
- Use today’s replacement cost, not what you paid
- Note any valuation certificates you have
As you go, also:
- Mark high value items for a discussion with your Barker consultant
- Check that specified jewellery has an up to date valuation
- Note any inherited or sentimental items that may not be replaceable
If you are considering marking something as “exclude”:
- Use this mainly for sentimental or non replaceable items such as an inherited piano or grandfather clock
- Do not use “exclude” simply to reduce your insured value on everyday items like beds, appliances, or furniture
- Remember that excluded items are not covered at claim stage
If you are unsure:
- Flag the item
- Leave it included for now
- Ask us before finalising
- Your inventory is the foundation of your cover
- Do the next room tomorrow
Use our Barker inventory checklist (click here)
We built a room-by-room template you can use. It’s practical. It’s simple to update each year.
How Barker can help
You don’t need to figure this out alone.
- Email your updated list or book an annual review with your Barker consultant
- We can go through your inventory together
- For more complex or specialised inventories, chat to your Barker consultant
Next step
Ask your Barker consultant to book a review.
