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<blockquote data-quote="santoshlv426" data-source="post: 902380" data-attributes="member: 1941"><p>Great tips. </p><p>I've just started this revision for 2019. Still it pay's to get opinions. I remembered the curtains and rugs, but not the food. </p><p>So from what you're saying is that you insure absoutly everything. </p><p>What I'm trying to figure is say one has a total house contents = R100,000.00. </p><p>In the event of total loss, you'd need to be compensated that much to be in the same place, but if this event does not occur, and you have minor claims over the years e.g. R1000,R3000 or say a R60000 claim - would this work if say you elected to insure for only R70,000 rather than R100K ?</p><p>This is not a question I asked the insurer.</p><p>What I did ask the insurer is why in particular motor insurance doesn't follow the rest. Assume you bought a 51" TV 10 years ago and claim for it now, the insurance will rightly replace it with the equivalent brand 51" based on what's on the shelf today. </p><p>However, if you bought a car 10 years ago - they will not "replace" with it's current equivalent but only the trade/resale value. It's odd that one cannot elect to insure a car for like modern replacement and it's probably due to the risk of the nature of use.</p></blockquote><p></p>
[QUOTE="santoshlv426, post: 902380, member: 1941"] Great tips. I've just started this revision for 2019. Still it pay's to get opinions. I remembered the curtains and rugs, but not the food. So from what you're saying is that you insure absoutly everything. What I'm trying to figure is say one has a total house contents = R100,000.00. In the event of total loss, you'd need to be compensated that much to be in the same place, but if this event does not occur, and you have minor claims over the years e.g. R1000,R3000 or say a R60000 claim - would this work if say you elected to insure for only R70,000 rather than R100K ? This is not a question I asked the insurer. What I did ask the insurer is why in particular motor insurance doesn't follow the rest. Assume you bought a 51" TV 10 years ago and claim for it now, the insurance will rightly replace it with the equivalent brand 51" based on what's on the shelf today. However, if you bought a car 10 years ago - they will not "replace" with it's current equivalent but only the trade/resale value. It's odd that one cannot elect to insure a car for like modern replacement and it's probably due to the risk of the nature of use. [/QUOTE]
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