Your sum insured should represent the full cost of replacement as new less an allowance for wear, tear and depreciation on clothing. We have a room by room guide that we can give you to help with this process.
If my Contents sum insured does not represent the full cost to replace everything as new will partial losses up to this figure be paid in full?
Only if the sum insured represents at least 85% of the replacement value, which is a special concession offered by Cayman First. The Condition of Average principle will still apply if value is less than 85%. If the value is less than the 85% then you will be considered your own insurer for the difference [...]
The sum insured.
Apart from the cover under Contents Temporary Removed, they are only covered inside so do not include any items you wish to be covered outside your home under Contents as they need to be covered under the All Risks (Personal Possessions) section.
There are only 3 (for Money, Valuables and Domestic staff and guests clothing and personal items) and these are shown in the policy wording.
I see that you also have some accidental damage here too – what type of items are covered for accidental damage?
Home entertainment equipment and home office equipment.
These are shown in the policy wording.
Oh in that case then unfortunately we make a deduction for wear, tear and depreciation.