Insurance Cover

Press, Volume CVIII, Issue 31737, 22 July 1968, Page 10

Insurance Cover

Sir, —The reply given to my questions by Mr Ashworth still does not make my position clear in the event of a claim against his office. My property, insured in his for $5OOO is exactly 46 years old. in quite exceptionally sound condition, and in perfect maintenance, inside and out. The floor area is 1100 sq. ft, with a large partly-enclosed sunporch and an open porch at side entrance extra. If it becomes a total loss, what data do the insurance company possess that would enable it to assess the indemnity value? How much of the insured $5OOO would be paid? We would still be heavy losers at the full amount, judging from Mr Ashworth’s reply: “There is no advantage in increasing the amount of insurance cover to an amount in excess of the estimated indemnity value.” Please, what is the “estimated” indemnity value on my property?—Yours, etc., INFORMATION PLEASE. July 16, 1968. [Mr N. R. Ainsworth, general manager of the State Insurance Office, replies: “The data possessed by the office consist of details of construction of the building and appliances, age, area, and an estimate of value at the time the insurance is effected. A valuation of the property cannot of course, be given at long range, but I can assure your correspondent that should he call at our Christchurch branch office, he will find the staff most helpful in assisting him with his problem.”]