Valuation for marine insurance purposes?
Aug 10th 2012, 4:51 pm
#1
Just Joined
Thread Starter
Joined: May 2012
Posts: 14
Valuation for marine insurance purposes?
Hi
We will probably go with LP, based on the reviews here and the price, for marine insurance.
I am slightly daunted though by having to give them a value. How did you do it, did you work out the replacement cost of each item individually? Is there any kind of guide for the value of the contents of a regular 3 bed house?!
Thanks in advance - so many things to do and so little time!
Vicky
We will probably go with LP, based on the reviews here and the price, for marine insurance.
I am slightly daunted though by having to give them a value. How did you do it, did you work out the replacement cost of each item individually? Is there any kind of guide for the value of the contents of a regular 3 bed house?!
Thanks in advance - so many things to do and so little time!
Vicky
Aug 11th 2012, 3:41 am
#2
Lost in BE Cyberspace
Joined: Jun 2005
Location: In a large village called Auckland
Posts: 5,249
Re: Valuation for marine insurance purposes?
I would look at the replacement cost of all big ticket stuff in NZ Dollars as it can be substantially different on some things.
Obviously some stuff you would never replace if you lost everything. e.g if you have 100 books and you lost them all, how many of those would you actually replace? Similarly with clothing - you just need to put a value you would be happy to receive, should all your stuff end up at the bottom of the ocean.
We got a form from the shippers that had a room by room list of main things and you just put the cost beside each item and add on any other extra things you might want to insure
Obviously some stuff you would never replace if you lost everything. e.g if you have 100 books and you lost them all, how many of those would you actually replace? Similarly with clothing - you just need to put a value you would be happy to receive, should all your stuff end up at the bottom of the ocean.
We got a form from the shippers that had a room by room list of main things and you just put the cost beside each item and add on any other extra things you might want to insure
Aug 11th 2012, 8:14 am
#3
you dewty owld maan!
Joined: Oct 2005
Location: is practically perfect in every way
Posts: 5,565
Re: Valuation for marine insurance purposes?
I would look at the replacement cost of all big ticket stuff in NZ Dollars as it can be substantially different on some things.
Obviously some stuff you would never replace if you lost everything. e.g if you have 100 books and you lost them all, how many of those would you actually replace? Similarly with clothing - you just need to put a value you would be happy to receive, should all your stuff end up at the bottom of the ocean.
We got a form from the shippers that had a room by room list of main things and you just put the cost beside each item and add on any other extra things you might want to insure
Obviously some stuff you would never replace if you lost everything. e.g if you have 100 books and you lost them all, how many of those would you actually replace? Similarly with clothing - you just need to put a value you would be happy to receive, should all your stuff end up at the bottom of the ocean.
We got a form from the shippers that had a room by room list of main things and you just put the cost beside each item and add on any other extra things you might want to insure
Aug 13th 2012, 7:41 pm
#4
Just Joined
Thread Starter
Joined: May 2012
Posts: 14
Re: Valuation for marine insurance purposes?
Thanks for the replies!
