COMMUNITY

Yes, but for limited amounts of coverage. You may want to consider buying a Personal Articles Floater which provides all risk coverage for theft and mysterious disappearance. This will also reimburse you for misfortunes, like a stone that falls out of a ring.

No. When you apply for a fire insurance policy, the current market value of the property or the Reinstatement value of the property, depending upon the basis of the Sum Insured, should be accurately calculated for arriving at the correct amount to be insured. The compensation payable when a covered loss or damage occurs shall be based on whether or not the property has been insured adequately. If the amount insured is excessive, it will mean overpayment of unnecessary premium; if the amount insured is inadequate you will receive amounts in proportion to the market value only.