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Sonu | Urgently Reply , Please !!!? |
I have insured my warehouse for $50,000 against burglary, Right now I have $200,000 worth of stock?
If I get $100,000 worth of goods stolen (Just Incase), will I get $50,000 amount from insurance company.
I NEED SOME MORE ANSWERS HENCE I HAVE TO REPOST MY QUESTION. |
 |
 
MSAD
 |
It depends on the type of policy you have.
Some commercial policies have a penalty in them if you are under-insured for the amount of stock. This affects the amount that would be paid on a claim.
You really need to talk to your agent. Since they know what specific policy you have, they are better able to answer your question. |
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StockTrdr
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ahh, yes you will only get what the insurance policy says you can get. Assuming that there are no clauses about stock vs just damage.
Hope that helps |
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3DDD
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You would not get more than what you have insured. |
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bud68
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Of course. No insurer will pay off more than the policy limits. |
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irishkittie79
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You will only get reimbursed for the maximum you are covered for. So if you have 100K stolen, but only have 50K in coverage, they will only pay out th 50K. You need to have enough coverage for everything in the building or you will lose money if you are burglarized for more then 50K. |
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vadde2007
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ya, u will get money what the amount was stolen which is not more than that u insured |
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