Property Insurance Can your documents or important files be insured

Phabbyfundz

Valued Contributor
I have been making enquires on the matter mention above and I wanted to throw this as a general question to us. For a property insurance this cut across all property that is valuable and means a lot to the insured , I would like to state that does this property online stop at houses ,lands or cars or even jewelries as the case may be.
Yes, jewelries included in parts of the world people who acquire really expensive jewelry item often get them insured with an insurance company in case they of damage of loss of this aid jewelry the insurance company compensates for the loss .
In property insurance are important documents or files of value to the client insured or would the insurance companies insure someone's document or important file.
 

btaliat

VIP Contributor
There is ways institutions for everything. Saving of documents is not really the functions of the insurance company. They don't save at all. They only protect against risk. The institution that saves documents is the banking institutions. However, insurance can insured the house togethern with the properties in it which may include documents.
 
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Chibson

VIP Contributor
Like someone up there have stated you can save your documents in Banks. There was a time my uncle went to the bank and they saved his important files and documents in order to protect it from harm. Insurance companies may not totally ensure your certificates or documents as the case may be.
 
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btaliat

VIP Contributor
Now I know the reason why the poster may think it is possible to insure documents. You may be thinking documents is also part of property. You are quite right but the fact is that let assume it is even insurable, what will the insurance company do in case of theft or lost of these document?
 
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Wisdom01

VIP Contributor
Its best you just take the documents to the bank and save it there , I haven't heard of such but I know that it's a property and you could insure it under property insurance policy , but someone keep paying premiums for such would amaze me I think tho ,
 
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btaliat

VIP Contributor
Its best you just take the documents to the bank and save it there , I haven't heard of such but I know that it's a property and you could insure it under property insurance policy , but someone keep paying premiums for such would amaze me I think tho ,
Paying premium on document that can be saved through many ways is nothing but waste of money or let me say act of stupidity. But it is good as we are enlightening ourselves on this forum. This may serve as an eye opener for any one who wants to go for any insurance policy in the future.
 
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Wisdom01

VIP Contributor
Paying premium on document that can be saved through many ways is nothing but waste of money or let me say act of stupidity. But it is good as we are enlightening ourselves on this forum. This may serve as an eye opener for any one who wants to go for any insurance policy in the future.
Yeah exactly it's probably a waste of time , the person would start accruing lost paying premium that's not worth the amount he have spent , where he could just save it and prevent it from any danger that might want to happen to the document at the end of the day I think
 
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Mandy96

Valued Contributor
Well I think there should be an insurance policy for this but the question is, is it worth it to insure a document?, although the document might be a very worthy one but instead of going through that stress, why don’t you just go to the bank, get a deposit box and keep it there
 
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Augusta

VIP Contributor
I don't think it would be wise to start wasting money on premium to start insuring documents or files. I doubt the insurance company would even consider such as insurable object. Instead it will better to save the.documents. In a place that it wouldn't get missing like the bank safe.
 
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btaliat

VIP Contributor
I don't think it would be wise to start wasting money on premium to start insuring documents or files. I doubt the insurance company would even consider such as insurable object. Instead it will better to save the.documents. In a place that it wouldn't get missing like the bank safe.
The funniest most time is that most time when people come to insurance company to insure things that don't even need to be insured in the first instance, those insurance company may not even enlighten the person that insurance policy on such things is not necessary. They are only after their money.
 
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Good luck

Valued Contributor
Important files can be kept in a bank for safety or future purpose.you can also keep such with a reliable source like keeping it with your lawyer.I don't think such can be insured because you will be charged a premium on that.since you have insured the business not company.there is no need to start insuring the documents or files that are vital again.
 
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Wisdom01

VIP Contributor
Important files can be kept in a bank for safety or future purpose.you can also keep such with a reliable source like keeping it with your lawyer.I don't think such can be insured because you will be charged a premium on that.since you have insured the business not company.there is no need to start insuring the documents or files that are vital again.
Exactly they are kept in the bank , but I think most people actually insure it , just to proof that the documents are containing millions and should be watched well , but it's still not Making sense for them because if they keep paying premium it might surpass the worth of the documents
 
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Good luck

Valued Contributor
Exactly the point,what is the need of paying a premium monthly when your company is insured already.i don't see any need for that.All vital documents should be kept in the bank for proper care or safety.You can't just be paying for that and also be paying for the insurance plan of the whole company.it may be a waste of funds.
 
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btaliat

VIP Contributor
The only thing I cannot forget in a hurry is the fact that this forum is just a place for learning. There may be some people that don't even know that banks keep document, there may be some people who may have been nurturing the ideas of insuring documents if not for this thread.
 
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Alexandoy

VIP Contributor
This reminds me of a movie that a rich fellow insured a rare stamp. When the stamp got lost he filed a claim and the story goes that the insurance made an investigation. I just want to say that you can insure the important documents that cannot be replaced like that stamp. But for the title of the property it can be replaced so it would not be accepted by the insurance company.
 
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