Advise needed

Sage

I have a ground floor flat that I rented out. It ended up with 4 feet of sewage in it after the floods. The contents were insured for £12,000 and as everything in there was condemed will the insurance company pay out £12,000 or will I have to list everything and find prices for it all.

mattymoo

Insurers will (or should have done by now) appointed a loss adjuster to look at your case.
They will first of all check to ensure you were not underinsured otherwise they may apply what is called the average condition.
This means the claim payment is pro-rata to the amount of underinsurance. So for example:-
True value of contents = £24k.
You insured for £12k.
Claim is for £12k
You will receive £6k

Not all policies have the average clause but many do so worth checking the policy wording.

They will then arrange for suppliers to replace the damaged items, i.e. national carpet firm to fit new carpets commensurate quality wise with the old one. Electrical supplier to handle TV / DVD etc, again same quality or modern nearest equivalent.
Some firms issue vouchers to spend at suppliers of their choice. Some use Amazon for instance for replacing DVD's and CDs.

I'm afraid that it's highly unlikely you will ever hold a cheque for £12k.

Sage

Many thanks for your reply mattymoo, but the problem I have is Im over insured. There is no way I can get the replacement value of the goods over £8,000 .

jazzt1

In that case, that is what you will get - the replacement value less the excess.