Insuring your donated items

 

Following the theft of many donated items from the premises of a local charity, how can charities or voluntary organisations ensure they are properly insured?  We asked one of our SkillShare partners….

For donated stock for sale:

Stock ledger – You must
•  maintain a ledger detailing the offer price of all donated stock held for sale, and
•  you must ensure that the ledger is updated at least monthly, and that
•  a copy of the ledger is kept away from the premises.

If you fail to do this your claim may not be covered or the amount the insurance company pays you may be reduced

For general contents/equipment not for sale but used by the charity:

Damage to property
If the property, or any part of the property is damaged during the period of insurance shown in the policy schedule, insurers will, at their option, either
•   pay you the value of the property at the time of the damage, or
•   repair, restore or replace the property or any part of the property that was damaged.
However, unless the property is a building, insurers will only pay you if the property is damaged within the buildings at the premises.

Definition of property is property owned by policyholder or for which they are legally responsible.

If you are in any doubt, please contact your insurance company.