I am looking to cover my jewellery, gold ornaments, silver articles and precious stones kept in my home. Please guide me some good policy which cover the market value of the items. Means in case of loss, the claim would be paid on the value of purchasing a similar new item, minus depreciation
Yes, this cover would be available under any home insurance product. Just choose reinstatement option for claims in proposal.
Just to add - It's bit difficult for insurer to find out the exect cause of loss of gold ornament, so normally insurer won't provide this cover.
It's very hard to prove that theft happen for gold items (moral hazard), big item of silver like plate, glass etc can be covered that too after long term association with insurer.Quote:
Originally Posted by Amit Kaushik
If it is forced theft, the insurance will cover