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Householder Insurance Primers
Wednesday 02 January 2008
How to assess the value of the belongings in a home
Wednesday 02 January 2008
| The value of the various belongings in your house is assessed as per their individual market value i.e. the cost of buying a similar new item, after deducting appropriate depreciation based on the age of the item. This includes domestic and electronic appliances, furniture, jewelry, and personal effects. For example, if you were to claim against the theft of a household appliance, the claim amount would be the value of purchasing a similar new item after deducting depreciation based on the appliance's age when it was stolen. See also: How to assess the value of a house |
