I purchased Chubb insurance for my wedding set last year. I sent them the sales receipt of my rings and used the amount that I actually paid as my declared value. This year when I received my policy renewl information, I noticed that the values for my rings have increased, by about 4%.
Is this normal? do the insurance companies just automatically adjust your declared values because of inflation, etc?
This is the first time I purchase such kind of insurance so I am not sure. Thanks for any information.
Is this normal? do the insurance companies just automatically adjust your declared values because of inflation, etc?
This is the first time I purchase such kind of insurance so I am not sure. Thanks for any information.
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