Alexandoy
VIP Contributor
This type of insurance is usually availed of by warehouses and other businesses that have their stocks in their store. For homes only the wealthy get this type of insurance. When there is a fire the damage is covered by the fire insurance that can also include the coverage for the contents.
However, the contents of the home are listed and valued on the time that the premium is paid. For a claim on the losses it is a complex procedure because the Insurance Adjuster would be asking for so many documents for proof of the loss. A friend in the insurance business said that more often the items would not be paid in full because of the lack of solid proof. Think if jewelry is insured or a valuable painting then how can the claimant present solid proof that those items were gobbled by fire?
However, the contents of the home are listed and valued on the time that the premium is paid. For a claim on the losses it is a complex procedure because the Insurance Adjuster would be asking for so many documents for proof of the loss. A friend in the insurance business said that more often the items would not be paid in full because of the lack of solid proof. Think if jewelry is insured or a valuable painting then how can the claimant present solid proof that those items were gobbled by fire?