30-11-2016 11:45 AM
I want to insure my household appliances purchased a year back. The insurance company is refusing to insure for the purchased price. Why?
01-12-2016 10:05 AM
The insurance company will assess and insure the goods for the current market value of the product and not purchased price.
01-12-2016 10:27 AM
Since the appliances are not new and have depreciated in value, the insurer will evaluate its current value and insure accordingly