My guitar (replacement value US$ 400) got damaged during relocation and the moving insurance is now only willing to pay for US$ 121 referring to the guitar's size of approx. 1.5 cu ft. On my request to cover the full amount, they quoted their T&C:
"Lump sum policy requires you to list out individual items that have a replacement value of US$ 500 and above on the right side table of the form. All other items are covered by a blanket policy where the insurance company calculates each cubic foot to be worth US$79.00 for replacement value."
Can they calculate the value of my belongings by sq ft?
To me that doesn't make sense. What if something very small gets broken?
"Lump sum policy requires you to list out individual items that have a replacement value of US$ 500 and above on the right side table of the form. All other items are covered by a blanket policy where the insurance company calculates each cubic foot to be worth US$79.00 for replacement value."
Can they calculate the value of my belongings by sq ft?
To me that doesn't make sense. What if something very small gets broken?