How can we calculate the value of contents?

[Praveen]

I am looking to cover my home. Agent told me to prepare home content list with the value in Rs. How can we calculate the value of contents in home insurance, because they are very old and in some case the models are not available now? Please help.

Thanks in advance!

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[CA_Amit]

It is very simple write down all the content and put the market value in front of them. Market value is suppose if you want to sell or buy the same thing in the market than you would be able to buy that. Just to point out here, Market value doesn't mean value of new good.

Hope it may helps you.

[>take]

If you cannot do it yourself, call the valuers. They will do for you. But they will charge you

[Praveen]

Thanks you guys, I will make an excel sheet of all the items with make, model and year. And put try to put the current market value of the item. But some of the electronic goods like National VCR is no more in the production. So in case of claim, how would the claim would be paid?

[CA_Amit]

Thanks you guys, I will make an excel sheet of all the items with make, model and year. And try to put the current market value of the item. But some of the electronic goods like National VCR is no more in the production. So in case of claim, how would the claim would be paid?

Good question. You cannot buy new model of VCR, but still you can sell it off at some price; may be for few hundred bucks.

Hope this make things clear.