Can you claim lost commodities on your home contents insurance?
Hi, We lost a watch, (we think it get thrown out in error) and wondered if it can be claimed on our insurance policy?
Answers:
You will need to check your product disclosure statement for your contents insurance policy.
Then you will have need of to make a decision. Is it worth paying the excess to find a new watch?
If you create a claim, it will impact on your claims history - which may increase your next premium. Or if you decide to move insurers they WILL increase your premium. Claims histories usually closing for 5 years.
Personally if the watch is worth less than $300, I wouldn't bother.
You can claim your watch if it was stolen or disappeared. Check near your agent. Unless your watch is expensive or over your deductible, its not worth trying to put in a claim.
You will lose a claims free discount for a few years. That may get through up the cost of what you would get paid on the see unless that is a very expensive keep under surveillance. It the amount the watch is worth is not way over your deductible, don't put surrounded by a claim.
Any jewelry worth a lot of money or art should be put on a separate personal articles policy.
If all you hold is a standard homeowners and the watch was not endorsed onto the policy-- in that will be no coverage for losing it or throwing it out.
The standard homeowners is a named peril coverage. That means, that surrounded by order for the loss to be covered the peril has to be specifically down. Perils include: fire, lighting, etc. There is no peril that covers losing it.
If the watch was endorsed on the policy (and to do that you enjoy to take a current jewelers appraisal to the insurance company) mysterious disappearance is covered.
If you are not sure what you have -- christen your agent. Source(s): Insurance Adjuster 12 years
Billy B, Home insurance is in reality very flexible. I don't understand adjectives the fine print of my policy, but my home insurance agent is always helpful. Try calling your agent or a agent contained by your city. http://www.usinsuranceadvisor.com/Home-I… They will be able to help you.
Related Questions:
Answers:
You will need to check your product disclosure statement for your contents insurance policy.
Then you will have need of to make a decision. Is it worth paying the excess to find a new watch?
If you create a claim, it will impact on your claims history - which may increase your next premium. Or if you decide to move insurers they WILL increase your premium. Claims histories usually closing for 5 years.
Personally if the watch is worth less than $300, I wouldn't bother.
You can claim your watch if it was stolen or disappeared. Check near your agent. Unless your watch is expensive or over your deductible, its not worth trying to put in a claim.
You will lose a claims free discount for a few years. That may get through up the cost of what you would get paid on the see unless that is a very expensive keep under surveillance. It the amount the watch is worth is not way over your deductible, don't put surrounded by a claim.
Any jewelry worth a lot of money or art should be put on a separate personal articles policy.
If all you hold is a standard homeowners and the watch was not endorsed onto the policy-- in that will be no coverage for losing it or throwing it out.
The standard homeowners is a named peril coverage. That means, that surrounded by order for the loss to be covered the peril has to be specifically down. Perils include: fire, lighting, etc. There is no peril that covers losing it.
If the watch was endorsed on the policy (and to do that you enjoy to take a current jewelers appraisal to the insurance company) mysterious disappearance is covered.
If you are not sure what you have -- christen your agent. Source(s): Insurance Adjuster 12 years
Billy B, Home insurance is in reality very flexible. I don't understand adjectives the fine print of my policy, but my home insurance agent is always helpful. Try calling your agent or a agent contained by your city. http://www.usinsuranceadvisor.com/Home-I… They will be able to help you.
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