What would you save first?

If your house is on fire, what would be the first thing you would grab? If you only had time to save one item, what would it be? For you it could be a comic book collection, your pet, the emergency fund stash or even some of your designer clothes.

It is interesting to note that when Chubb Corporation did a recent poll, the results revealed that nearly 50% of people would first save the family photo album, while about 20% would save the money.

The results were based on a phone survey of 1,000 Americans. Saving the laptop was the answer from 13%, 2% said jewellery, and 7% said they would save their pet.

One third responded "no" when asked about storing valuable papers in a fire-resistant safe or at an off-premise location. Other questions asked included replacing the batteries in smoke detectors and 20% said they have not done so. Clean up of dead or flammable plants and trees from around their homes, has been done by 70% of the respondents. Fully 73% said that the gutters and roof have been cleaned up for Spring, with leaves and debris removed.

What is important to you? Have you got an inventory of your possessions, to help you if you have a claim? If you do have a major claim you will be required to provide an accurate list of what was damaged or destroyed. This list will include a clear description, cost at the time of purchase and current replacement value. When you look around your home this task can be quite daunting. When you are stressed out it will be even worse. At least do a video of your home and store it somewhere safe and off site.

Talk to your broker or agent about high valued items that you might wish to insure with specific values. Know your options and take control of your insurance.