MegaSack DRAW - This year's winner is user - rgwb
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House insurance is due for renewal. I randomly checked the price of my watch today. To replace it with a new one of same make/model i found that they are nearly double what I paid for it some 8 years ago. Is it acceptable or frowned upon to insure it for that replacement value?
Just list it as a valuable piece of jewelry on your contents insurance. They normally ask you to specify anything worth over £1000. Just list it with the new retail value....but they may ask for a proof of valuation.
Seems reasonable to me. Isn't that the whole point of insurance, so you can replace it if needs be?
It's already listed but my valuation is well short. I'm going to list it at it's full replacement value then plus photograph it in case the worst happens.
Don't see why not, got mine insured for current market value and didn't bump it up horrendously.
It hadn’t occurred to me, but maybe I ought to look at how valuable items are treated on my house insurance, because it’s only fairly recently that I’ve discovered that three of my watches, which cost me a total of £650, (£50/£250/£350), are now worth something in the region of £6000! 😳