I'm in need of some "tips" as to how to stipulate the value of household contents on an insurance shedule.
The insurer rightly states that the total must be suffiient to cover everything, so if one takes the house and turn's it upside-down, whatever "falls out" should be under "contents" with the rest being buildings.
As many on this forum would know, the content's can rack up to quite a bit, thereby increasing the premium. There's only two event's that will see one claim for "everything" and these are Fire or "Act of God (Earthquake, Tsunami, Volcano, hurricane, cyclone) " or a 747 crashing into the house.
How do you evaluate a realistic value of the content's and confirm that you guys insure anything at todays equivalent replacement value ?
Thanks all
The insurer rightly states that the total must be suffiient to cover everything, so if one takes the house and turn's it upside-down, whatever "falls out" should be under "contents" with the rest being buildings.
As many on this forum would know, the content's can rack up to quite a bit, thereby increasing the premium. There's only two event's that will see one claim for "everything" and these are Fire or "Act of God (Earthquake, Tsunami, Volcano, hurricane, cyclone) " or a 747 crashing into the house.
How do you evaluate a realistic value of the content's and confirm that you guys insure anything at todays equivalent replacement value ?
Thanks all
