Liberty Quality Home - house and contents insurance
Article - Cover
The
Liberty Quality Home - house and contents insurance
CONTRACT BASES
Article 21 - Valuation of the damage
CONTENTS (Building )
The personal property included in the CONTENTS shall be valuated:
- If the insured waives the automatic adjustment of sums insured, according to the real value
- If the insured does not waive the automatic adjustment of sums insured, according to their replacement-as-new value in the market, without taking into account depreciation due to use or age. If the sum insured is less than the replacement-as-new value, the indemnity shall be paid proportionally according to the difference between these amounts.
- Valuable objects, jewels and jewellry shall be valuated according to their real value at the moment prior to the accident
Under no circumstances shall it be applicable in the case of personal computers and accessories that are more than two years old, nor shall it be applicable to the optional cover regarding garaged vehicles.
With regard to items that are part of a set or collection, if the total loss thereof does not occur, the insurer shall not reimburse the full value of the aforementioned set or collections, but solely the cost of the damaged fraction or part and, under no circumstances, may the insured try to receive any indemnity for the depreciation that may be caused to the set or collection that may now be incomplete as a result of the accident.
If the insured only insures the contents, he / she may waive the process for the automatic adjustment of sums insured and, consequently, the valuation of damage sustained by the movable property included in said contents in the event of an accident shall be calculated according to its real value.
Article 22 - Calculation of the indemnity