It was actually very interesting, they first approved our entire claim for the full value after we submitted a list that totaled 30% more than that. Then they sent out an assessor who reduced the value of my video game 'collection' (that word is very important here) to a mere $2,000, as per the policy. And yet, the countless stacks of game-related paraphernalia didn't count as part of the collection (!?). All those magazines, controllers, wires, posters, joysticks and other stuff listed separately from the consoles themselves were not considered (nor should they have been, IMO - this was not a collection of commemorative plates, this was a life's work!). So the total effect on the payout was zero: we were still claiming a loss greater than the policy value.
But yeah, it seems that they're not too fussed about what, exactly, it was. We asked for $xx,xxx coverage and they charged us a premium that reflected this amount. So, we paid for what we asked for, right? I didn't start a housefire, I didn't arrange a little accident. After a flood there's not really much chance we're submitting a fraudulent claim, it's not like the stuff's just hidden and we're claiming theft, here's my mud covered shit, piled across most of my fucking back yard (sob sob).
Also, we didn't jack up any of the prices. I'd wager that if anyone were to replace all of this stuff on ebay they'd probably be paying more than what we claimed for. I think when someone lists a bunch of games and doesn't claim a hundred dollar value for each and every one that it probably lends a little credibility to the proceedings.
TBH I'd be pretty surprised if they did try and claim a lesser value on this stuff. I'm actually kind of stunned they agreed to pay me out and then sent an assessor anyway who could do little more than look at the shiny new shit we bought and tell us that they're reducing the total claim but not the total payout so thanks for your time but now nothing has changed.
I should point out that we are with the best insurance company in the country by most accounts, one with a reputation for being honest and agreeable, and one with a reputation for the most expensive premiums as well. My car insurance with them is twice what most other companies ask, but while some people complain about their insurance when they try to make a claim, these guys just get shit done and I think my money is well spent here. The horror stories I hear from Americans (and many others) seem to illustrate a stark, adversarial system that makes me sad.
