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amit_kumar09
07-04-2009, 08:50 PM
How is the value (Sum Insured) of the house, and its contents assessed?

PolicyWala
10-04-2009, 04:12 PM
The value of your house is assessed as per the area of your home multiplied by the rate of construction per. sq. feet, as on the date of taking the policy. For example, if your home is 1000 sq. feet and the construction rate per sq. feet is Rs. 800/-, then the sum insured for your home’s building structure is Rs. 8,00,000.

The contents are assessed on the market value of the items. This means that if there were a loss, the claim would be paid on the value of purchasing a similar new item, less depreciation for the usage.

amitz
03-03-2010, 08:05 PM
Do we need to provide a list of all the content?
If yes, could you please tell me the format of the same (if possible please attach the format here).

Manish_Kumar
03-03-2010, 09:47 PM
Do we need to provide a list of all the content?
If yes, could you please tell me the format of the same (if possible please attach the format here).
Yes. Provide list (if you can provide photos, it is best and very easy at the time of claim). Just make a simple list - Name, Make/Model, Year of purchase, current market price. Hope it helps.

CONFUSED
03-03-2010, 10:13 PM
Make an excel sheet with the details as mentioned by Manish in the above thread. It would be useful for present and future home insurance and also help you in case of claim. Just to add in the above list mention any serial no or specific no to any content, would be useful in the claim.

amitz
04-03-2010, 05:15 PM
I have some home contents like Iron, IPod and Electric Kettle etc., these are been gifted to me. So I don't have the receipt of these. Do in claims, it is necessary to submit the receipt?

Manish_Kumar
05-03-2010, 12:38 AM
Receipt are not necessary, You just provide photos and other details like serial no etc.

Just to add in the above list mention any serial no or specific no to any content, would be useful in the claim.

provide photos, it is best and very easy at the time of claim