When we calculated the value of everything in the container it would have been very expensive to insure it for the whole amount, so we came up with a number we were comfortable with should the whole ship sink! At the time, we didn't realize that we'd only get 40% of that insured amount should the whole thing sink!
When the claim agent asked me how we calculated the worth of the container, I should have said that we filled in the spreadsheet they gave us with the exact value of each item, but instead
I told the truth! But regardless, I'm sure there would have been another reason not to pay the whole claim...or she would have asked for a copy of the spreadsheet or something.
Really & truly we're thrilled to have gotten the $500.00 -- it's just a patio table and actually, although cracked, it still works. We ARE, however, relieved that it didn't happen to something more dear or impossible to replace as they'd have still only paid 40% of what it was worth...or God Forbid if the whole thing sank!