From: "Tim" 
Newsgroups: uk.finance
Subject: Re: Contents Insurance valuation
Date: Wed, 1 Mar 2006 15:20:40 +0000 (UTC)
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"Martin" wrote
> Thus, when you wrote.... "However, with 'indemnity'
> cover, you need to "make a deduction for the cost of
> wear and tear"..." the deduction is also (and crucially)
> made when calculating the insured value at inception.

Rubbish!  How do you expect the prospective
policyholder, at inception, to determine *when* in
the future the claim will occur, and what the future
second-hand *value* of the items will be at that time?

No - the deduction is actually made
**on the claim form**, not at inception.

"Martin" wrote
> It's necessary so the insurer's know their
> true exposure and can calculate the premium.

Nah - the insurers are much cleverer than you must imagine!

"Martin" wrote
> Do you feel converted...? :-)

Certainly not.  Do you?   ;-)