|Re: Insurance Appraisal|
Subject: Re: Insurance Appraisal
by laurel on 2012/2/22 0:09:15
You are mixing two elements here-Policy Proposal and Claiming.
When you take out insurance you can pick any amount you want and with exception your insurer will not ask for evidence.
However when you claim I am not saying they will always ask for evidence I am saying that they may and have the right under the policy and my knowledge of the industry confirms this.
Clearly the value is a factor and in your example, no they are not likely to ask for a receipt/photo evidence of a phone and something like furniture but if you claimed for an expensive book/ ring/ watch etc they will ask for evidence of its existance and ownership and thus my recommendation best be safe than sorry.
I am afraid in the world we live there is every reason an insurer would ask for evidence when we suffer £millions of fraud every year. That is the reason why they should - to protect all us honest folks premiums.