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Valuation for marine insurance purposes?

Valuation for marine insurance purposes?

Old Aug 10th 2012, 4:51 pm
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Default 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
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Old Aug 11th 2012, 3:41 am
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Default 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
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Old Aug 11th 2012, 8:14 am
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Default Re: Valuation for marine insurance purposes?

Originally Posted by Bo-Jangles View Post
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
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Old Aug 13th 2012, 7:41 pm
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Default Re: Valuation for marine insurance purposes?

Thanks for the replies!
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